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Tuesdays with Morey - Tax Tips®

Tuesdays with Morey Tax Tips provides Tax Tips for people living and or working outside of the United States. These are citizens of the United States that live or work outside of the country and need valuable information on items concerned with filing their United States Tax Returns. Tuesdays with Morey Tax Tips includes information such as off-shore banking accounts and the requirements for filing and declaring these off-shore accounts. Tuesdays with Morey Tax Tips adds great value to those who are still confused on their tax obligations when living or operating a business off-shore.
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Aug 8, 2017

During this episode, Morey and Macarena talk about the importance of having a good relationship with the IRS, especially if you have offshore investments or bank accounts. Doing business or making investments overseas can trip you up, if you don’t have the right financial planners working in your best interest. Be sure to err on the side of caution and properly vet the financial company in which you put your trust.

 

If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

 

[1:11] A good relationship with the IRS is worth its weight in gold.

[4:37] The FBAR, Form 114 is used to report foreign bank accounts.

[5:48] Special agents with the IRS and the Department of Justice are involved with tax collection.

[7:39] Beware of investing in foreign projects that seem too good to be true.

[9:24] Form 8938 tells the IRS about your foreign investments.

[13:32] Offshore financial planners should be vetted properly.

[15:16] Tax planning and proper reporting of mileage are essential under this administration.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Aug 1, 2017

Morey and Macarena dish up another exciting episode of Tax Tip Tuesday this week. Morey shares the necessary requirements for reporting your income and tax liabilities to the IRS, should you invest in overseas properties, and Macarena describes the benefits of having a person you can trust on your side.

 

If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Ask Morey for a free consultation. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:12] With a new tax bill on the horizon, it’s time to think about tax alternatives.

[3:04] An FBAR must be filed if you have over 10K in a bank account.

[6:54] Due diligence pays off!

[8:01] Morey’s client has a healthcare issue that may not be addressed by the new tax law.

[10:04] Let’s do away with Obamacare and go back to the free market system.

[12:40] Offshore investing and financing can be a dangerous game if you don't trust your partners.

[15:39] Just because you are in a foreign country doesn't mean there are no laws, no taxes and no important paperwork.

[17:50] Be wary of people who will not give you a referral.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Jul 18, 2017

Morey and Macarena warn expatriates of the dangers of people wanting to help you with your offshore business. Some people have a friendly face but bad intentions. Or, some just don’t know the U.S. tax code and will tell you what you want to hear just to get your hard earned cash.

Key Takeaways:
[:50] It’s important to stay in contact with your financial planner, especially with all the new changes to the health care changes.
[3:24] Expatriates need to be aware of the IRS forms required to avoid being audited.
[6:51] Do you have confidence in the people you are doing business with?
[8:54] Glazer Financial is a small, trustworthy, international accounting firm.
[13:35] Pay your taxes based on your 2016 tax bill.

Mentioned in This Episode:
Glazer Financial Network
Email Macarena: macarenarose@gmail.com
Tuesdays with Morey on Facebook
Expat Tax Expert
Email Glazer Financial: mglazer@glazerfinancial.com
469-358-2818
972-385-0007
MacarenaRose.com
Rainforest Realty

Jun 20, 2017

Morey and Macarena carve time out of their busy schedule to make sure you know how to keep up with your U.S. taxes when you move overseas, and what you are up against when you realize you haven’t filed in years. This week’s conversation details the deadline for filing the FBAR, how the rules change when the property you are buying is offshore, and recent tax changes.

If you live offshore and don’t have a qualified team of professionals to help you plan your financial
future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

Key Takeaways:
[1:06] How should people plan for the tax year 2017?
[3:04] We are in uncertain times politically and fiscally.
[4:21] The latest bill passed by the House may include a tax implication.
[6:53] Just because you live overseas doesn’t mean you aren’t responsible for your U.S. taxes.
[8:51] Buying and selling properties overseas is different than in the U.S.
[11:44] Glazer Financial has qualified staff members to help you plan.
[12:14] Is it too late to file an FBAR for 2017?
[14:56] Penalties and interest on back taxes can accrue annually.
[17:03] The IRS and the Justice Department can be involved with tax problems.

Mentioned in This Episode:
Glazer Financial Network
Email Macarena: macarenarose@gmail.com
Tuesdays with Morey on Facebook
Expat Tax Expert
Email Glazer Financial: mglazer@glazerfinancial.com
469-358-2818
972-385-0007
MacarenaRose.com
Rainforest Realty

May 23, 2017

Many people don’t think ahead. They are putting their financial futures and the financial futures of their families at risk. During this episode, Morey stresses the importance of planning. He also shares his political views and says it doesn’t matter if you are a Republican or Democrat; the key is to work together to get stuff done.

If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:09] Why do we get emotionally involved in the wrong political places?

[2:34] Obamacare doesn’t fit the needs of growing businesses.

[5:20] Why it doesn’t matter if you are a Democrat or Republican.

[6:43] Everybody deserves a better education.

[8:16] The new tax bill will include 3 different tax rates.

[10:38] Morey believes deeply in charitable contributions and planning for those contributions.

[13:02] Planning is very important.

[14:48] The key is that if you had more money you could do more.

[16:29] Many people don’t think ahead.

[17:24] If the new tax bill passes, people will need to plan more.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

May 16, 2017

Morey shares his thoughts on the possible tax cut for small businesses in the U.S. He says people should be excited about the extra cash they will have to make the lives of others better. In addition to the tax cuts, Morey would also like to see Obamacare repealed so his workers will be able to use their insurance again.

If you live offshore and don’t have a qualified team of professionals to help you plan your financial future to get the lifestyle you want, call Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:34] Macarena is a Realtor® in Florida and Belize but she can sell property anywhere.

[2:35] Get excited about the business tax rate dropping to 15%.

[4:41] Changing Obamacare rules will lower the deductible for most workers.

[7:48] People need to improve their lifestyle.

[9:50] Analyzing our spendable income?

[11:23] Don't wait to plan for your financial future.

[13:55] There are Americans who live offshore who need help.

[15:42] Glazer Financial is a family-owned business

[18:11] Stop considering who the politicians are and change your own life.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

May 9, 2017

Morey shares his thoughts on what Trump’s tax bill will mean for the economy in the United States. Morey believes more money in a worker’s pocket will eventually trickle down to charitable donations and an increase in consumer spending. He would also like to see the adoption process out of the hands of the government.

If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[:59] Trump, the new tax bill and Obamacare.

[5:26] Morey remembers a charitable donation to a woman in Mexico.

[9:12] Health Savings Accounts, or HSAs, can give a decent tax deduction.

[10:57] Morey believes Obamacare needs to be repealed.

[12:03] Higher income people will get a 10% tax reduction.

[13:50] Government controlled adoptions are not in the best interest of the children.

[18:24] Changes are coming soon to the U.S. tax code.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Apr 25, 2017

Morey and Macarena inspect the proposed tax changes for 2017. Morey believes changing the tax requirements associated with the Obamacare health care plan will benefit businesses and individuals the most. And, if you have been using the same tax preparer for many years, it may behoove you to ask them about their compliancy status, and how they keep up on current tax changes which could affect you and your family.

If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:07] The FBAR is how you report your foreign bank account to the IRS.

[3:41] A client of Morey's had to sell their foreign assets to pay a penalty from the IRS.

[5:00] Get an estimate of what your future taxes could be with a free 3-year tax review from Glazer Financial.

[7:12] Unreimbursed business expenses can signal an automatic audit.

[9:05] Protecting clients is the main goal of Morey and his team at Glazer Financial.

[11:02] What's new in taxes for 2017?

[14:16] You need to plan ahead so you don't end up paying penalties.

[15:18] Don't lose your passport for not paying your taxes.

[17:23] Make sure you are familiar with the person doing your taxes.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Apr 18, 2017

Morey shares an example of a client who had already had his taxes prepared by an accountant, and then came to Glazer Financial. Morey and his group of Senior Accountants were able to identify many missed deductibles and inconsistencies on the client’s return.

If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:01] The FBAR has new rules and it must be attached to your 1040.

[2:08] Who's doing your tax return?

[6:04] The IRS is looking for variations in your taxes from one year to the next.

[6:52] Payroll taxes are a vital part of an employer's tax return.

[7:27] Glazer Financial's free 3-year review uncovered deductions for a client who had already gone to an accountant.

[11:43] You have to be careful about referrals from parties who may only be interested in a referral fee.

[15:01] The 3-stage review includes senior level accountants looking at your tax returns.

[17:00] The IRS is a much more efficient organization today than it was in the past.

[18:41] You need to plan to plan.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Apr 11, 2017

Morey and Macarena are back this week with information about the current tax reform in the U.S. The tax cuts are designed to get unemployment numbers down, and more people working. Morey describes the tax bill and the healthcare bill as having close ties, which is causing the delay in Congress passing both. Morey also cautions business owners and the self-employed when increasing their business expense deductions. Remember, you increase the chance of an IRS audit when you increase your deductions.

If you live offshore and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:20] Taxes have been put on hold so the healthcare bill can be the president’s primary focus.

[3:56] Morey would like to see the new tax bill passed, because it will create more jobs.

[6:36] Larger corporations look to foreign countries to fill IT positions.

[7:54] China is looking to Central America for new business growth.

[9:01] Educating the children will help the overall economy.

[10:41] There are companies moving their profits offshore to pay less tax.

[11:50] The overlooked deductions for the self-employed.

[14:00] Read how to increase your chance of an IRS audit articles.

[16:47] Documentation is everything.

[18:47] Tax season office expenses are tax deductible.

[19:46] Young people who don’t have insurance apply for Medicaid.

[22:26] Be vigilant about having documentation for your entertainment expenses.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

Mar 28, 2017

Morey and Macarena are back this week with information you cannot afford to ignore, especially if you have offshore assets. The Department of Treasury has access to foreign accounts, and it is the law all U.S. citizens file annual tax returns. Even if you don’t have an income, you are required to file. You may incur penalties, additional taxes, or even legal fees, if the IRS determines you have defrauded the system. If you live offshore, and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose, at Rainforest Realty.

 

Key Takeaways:

[1:02] Is your passport at risk because of an outstanding tax bill?

[4:25] The U.S. government has access to most international banks.

[5:14] If you don’t file your taxes, the IRS considers it fraud.

[5:58] In Mexico, taxes are collected monthly on foreign corporations.

[8:11] The 8938 and the FBAR are required tax forms.

[10:00] Knowledgeable professionals are your best course of action for staying compliant.

[11:04] The legal cost to defend yourself against the IRS may be more than the tax due.

[12:34] There is value in reputable, reliable financial planning.

[15:56] What can happen if you lose all of your tax and income records?

[18:15] Morey has had direct contact with the IRS to repair tax issues.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

 

Mar 21, 2017

Morey and Macarena stress the importance of having a quality financial professional on your side. Many tax preparers and accountants fail to notify clients of changes in due dates for tax forms, and they miss important deductions that can save you money! If you live offshore and are uncertain which tax forms you need to file, or when your taxes are due, call the professionals at Glazer Financial. Or, if you are looking for real estate in Belize, call Macarena Rose at Rainforest Realty.

 

Key Takeaways:

[:50] Morey shares important resources for more information.

[2:06] Financial planning is very important to ensure expats meet tax filing deadlines.

[4:15] What to do if you are unprepared to file corporate taxes by March 15, 2017.

[6:02] C-Corps are extended for an additional month and personal returns remain due on April 15.

[7:42] U.S. citizens must pay income taxes on worldwide income, no matter where they live.

[9:15] Interest and penalties can be more than the tax due if citizens don’t meet tax deadlines.

[10:10] The FBAR or Form 114 and Form 8938 are required filings for expatriates.

[12:12] Offshore assets are not always tax-free for U.S. citizens.

[13:43] Hiding gold in your house is not the best way to secure your assets.

[14:35] What is the most overlooked tax deduction?

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

972-385-0007

MacarenaRose.com

Rainforest Realty

 

Mar 14, 2017

Morey shares crucial details about the changes in due dates for IRS forms 8938 and the FBAR. Expatriates with offshore bank accounts, corporations, or income are required to file forms which disclose international assets. Many banks in foreign countries are denying bank accounts to U.S. citizens because of the reporting required by the U.S. Government. Have you been affected by recent changes? Find out by contacting Glazer Financial.

 

Key Takeaways:

[1:09] Many expatriates don’t believe they have to file U.S. taxes, but they do.

[4:35] Do you know what forms to file and when the forms are due?

[5:10] The new administration doesn’t know what changes President Trump will make.

[5:36] The due dates have changed on the forms, K-1 and 1099.

[6:23] The FBAR must be e-filed with your personal tax return.

[7:21] FBAR requirements and due date.

[9:36] Form 8938 is filed if you have an active corporation or investments.

[11:19] Details of foreign income requirements for the IRS.

[14:35] How do immigrants in the U.S. handle taxes?

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

MacarenaRose.com

Rainforest Realty

Mar 7, 2017

In this episode, Morey and Macarena tell us why it is important to file an annual U.S. tax return, no matter which country you live or work in. Also, Morey shares information on the FBAR, the 5471 tax form, eligibility requirements for the Foreign Earned Income Exchange Credit, Insurance Wrappers, and international real estate. Make sure you have an educated, up-to-date, professional on your side when it comes to your money. Call Morey at Glazer Financial for more information.

 

Key Takeaways:

[1:40] With a new president and new Congress, no one knows what will happen to the tax code.

[3:16] Morey has to re-do a seminar due to the new tax code changes.

[3:45] The 5471 International Corporation Form, and how it affects U.S. tax filings.

[6:17] If you have a foreign bank account you must file the FBAR form.

[7:57] Commonly missed tax deductions on foreign expenses.

[9:24] Morey has advice for you if you have an internet sales business.

[10:49] How to handle offshore investments during your divorce.

[11:48] Self-insured insurance policies (wrappers) are now targets of IRS audits.

[13:34] You should consider your taxes as important as an annual health checkup.

[15:00] International travel can be suspended if you don’t file U.S. taxes.

[17:07] Every country collects taxes, so you need to know what the rules are.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

469-358-2818

MacarenaRose.com

Rainforest Realty

 

Feb 7, 2017

In this episode, Morey tells us what he believes is happening in the current tax landscape. He believes middle-income families will take the brunt of the taxes while low-income and high-income families will get some tax relief. Where will that leave you and your retirement plans? If you have been with Glazer Financial for some time, you will be prepared to weather any storm, even if it is in Belize.

 

Key Takeaways:

[:53] Rental properties in Belize can increase retirement income.

[3:35] Glazer Financial offers the best client support.

[6:28] Middle-income families will be paying higher taxes in the future.

[7:25] Morey’s children are all hard-working people.

[11:06] Planning is more than just doing annual taxes.

[12:16] President Trump is an inspiration to Morey.

[13:06] Reducing personal and corporate taxes.

[16:11] Lifestyle planning seminars to help clients find properties.

[19:20] A look forward to next week’s show.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Jan 31, 2017

In this episode, Morey talks about the big changes coming down the pike in both tax deadlines and health care coverages. Morey lists the myriad ways Glazer Financial can help individuals and businesses plan to keep costs and taxes down in 2017. Morey’s organization is capable, and prepared to help you with your complicated, international tax requirements.

 

Key Takeaways:

[:53] New tax changes happen often, so you need a professional who keeps current.

[2:15] When Obamacare is replaced, will a Health Savings Account be right for your business?

[6:05] LLC, C-corp or S-corp, which is right for your business?

[8:13] Glazer Financial prepares tax returns, but also considers the ways you can save in the future.

[8:55] Morey is willing to fight the IRS and attorneys, if it’s in your best interest.

[11:23] You have options in life and in tax planning.

[12:12] Flow through income participants have a new tax deadline.

[13:09] FBAR reporting deadlines have also changed.

[14:17] Should Trump work within the states on Medicaid coverages instead of changing Obamacare?

[17:37] You should get a free tax consultation from Glazer Financial as early in 2017 as possible.

[19:00] 401K’s can help reduce employee cost.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Jan 24, 2017

In this episode, hosts Morey and Macarena discuss the importance of organizing your tax documents, and figuring out which deadline your taxes are due on. Morey shares an example of how he saved a client $200,000 in taxes, simply by rewriting a contract. Only experienced financial planners are able to see through the tax code and get to the possibilities. Take the advice of the Tuesdays with Morey Tax Team and start your planning today!

 

Key Takeaways:

[1:07] Getting your tax documents organized for 2016.

[1:45] 110% of last year’s taxes are due to avoid penalties.

[2:50] You should have bought big items and paid bonuses by December 31st.

[4:02] Buying stock has no depreciation value.

[5:18] Looking ahead and planning for 2017.

[6:44] You tax accountant or lawyer should be replaced if they don’t have the right knowledge.

[9:40] Morey spends his weekends working on client accounts.

[11:28] Investors in vacation properties should look more closely at the piece parts of their buildings.

[12:22] An example of someone building a furniture store in Costa Rica.

[12:50] H&R Block has some unseasoned employees.

[14:29] Financial planning is essential to the growth of your business.

[15:55] Many people don’t understand how much help they really need.

[17:01] Be cautious when doing business with your friends.

[18:15] 50% of tax returns Morey reviews could be adjusted to save the taxpayer money.

[20:18] Did you know you can use your retirement money to buy an investment property?

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

 

Jan 3, 2017

In this episode, Morey and Macarena share important end-of-the-year tax tips. Morey recommends buying as many business supplies as possible before the end of 2016, to get the maximum depreciation benefits. And, he suggests that even if you have a CPA doing your taxes, you need to make sure they keep your taxes up-to-date, including all of your foreign accounts. Because bad advice from an uneducated accountant, can cost you thousands in penalties.

 

Key Takeaways:

[1:04] Planning for the upcoming 2017 tax changes is important.

[1:53] Why you should finish up 2016 with a shopping spree.

[3:29] It’s all about reducing taxes for 2016 and in 2017.

[4:25] Changing your corporate structure is an option if taxes are reduced in 2017.

[5:05] Congress is a slow moving vehicle.

[6:07] A real life example of a doctor’s tax return.

[7:10] People are not filling out their Foreign Bank Account information tax documents.

[8:08] A client finally got caught up on back taxes and paid a 27.5% tax penalty.

[12:02] People think when they have a CPA prepare their returns, they no longer need to pay attention to their taxes.

[12:56] The biggest changes in 2017 will be the tax deductions and write-offs.

[14:06] Retirement plans can create additional deductions.

[15:43] What if the new Republican administration can’t get a tax bill passed?

[17:12] The government is planning for the future, and you should be too.

[18:22] Glazer Financial can help you with your “what if” tax scenarios.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

 

Dec 27, 2016

In this episode, Morey and Macarena share important end-of-the-year tax tips for expatriates and soon-to-be expatriates. There is also important year-end tax advice for small business owners, regarding the purchase of office equipment and supplies. Get important tax strategies from experienced lifestyle planners.

 

Key Takeaways:

[:51] Many important financial decisions need to be made before December 31, 2016.

[2:04] No one knows what tax changes will take place under the Trump administration.

[2:24] If taxes are cut, the savings can be used for advertising and personal care products.

[3:57] Politicians are all the same, and Morey doesn’t approve.

[5:37] Go buy office equipment, furniture, and supplies, before the end of 2016.

[7:21] No one knows what 2017 tax laws and rates will be.

[7:49] Deferring income should be done on January 1st, instead of December 31st.

[8:48] An experienced tax professional should be consulted.

[10:14] Americans living in Belize are unaware they had to file a tax return.

[11:41] Penalties for not filing tax returns can be huge.

[13:12] You have to be working, to get the $100k exclusion.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

 

Dec 6, 2016

In this episode, Morey and Macarena share with their listeners the most important questions to ask before picking up and moving offshore. Most people wait until after they have sold everything in the U.S., and are sitting on the beach in a foreign country, to consider the tax implications of their move. Morey Glazer has been doing foreign taxes for 50 years and, is an expert in Belizean tax laws, with over 10 years’ experience.

 

Key Takeaways:

[:59] Important questions to consider if you are ready to move to Belize.  

[2:15] An example of a client who moved to Costa Rica, and improved his business through planning.

[2:55] Check the tax laws in the country you plan to move to, before making your decision.

[3:57] Morey has been handling finances and tax implications in Belize for 10 years.

[4:26] Send your questions to Morey and Macarena, on the Tuesdays with Morey Facebook page, and they will answer them during the next podcast!

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Nov 29, 2016

In this episode, Morey and Macarena discuss using international real estate rental income as a deduction on your U.S. taxes. There are many ways your portfolio can be enhanced with international properties, but you need to make sure you do it correctly from the beginning. Contact Glazer Financial to find out how you can make the most of your retirement money!

 

Key Takeaways:

[:54] Planning is important when buying international real estate, even rental property.

[1:31] If your annual salary is over a certain limit, you are limited in the amount you can deduct for your real estate taxes.

[2:00] Net rental income should be your end goal.

[2:29] Foreign assets get you the same tax benefits as if you bought the property in the US.

[3:00] If you have a loss of $10,000.00 you can write it off.

[3:45] Use an income tax return to project how your international real estate purchase will affect your US income tax.

[4:08] How to use net rental income on your taxes even if you have a net rental loss.

[5:00] If the Chinese build a canal in Nicaragua, the property value will rise.

[5:39] You must plan to plan!

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Nov 22, 2016

In this episode, Morey and Macarena attempt to warn listeners of the potential pitfalls of dealing with professionals who don’t stay up to date on current tax laws. If you are thinking about moving offshore, you must plan to plan. There are so many different aspects to living in a foreign country, and chances are, the company who is selling real estate at a conference, won’t tell you all of what you need to know. Contact Glazer Financial before you make the big move!

 

Key Takeaways:

[:49] If you are considering moving offshore, you need to make a plan for your financial future.

[1:04] People forget to plan for their state and federal obligations, when they move abroad.

[1:46] People set up foreign corporations, without the proper planning.

[2:22] Clients struggle all the time with not planning before they plan to move.

[3:36] You may not pay less tax in a foreign country, because you are still responsible for U.S. taxes.

[4:07] People take action based on professional suggestions.

[4:43] Professionals may not always give you the best advice based on your personal issue.

[6:16] Many people go to a conference, but the information they are given is not legitimate.

[7:49] Glazer Financial tells you exactly what they are going to do.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Nov 15, 2016

In this episode, Morey warns us to be aware of the many changes to the U.S. tax code, which may be hidden in large bills passed by the House, such as the Highway Bill, or Obamacare. These massive, 2,200-page documents often affect people who have international interests or real estate. Many accountants are unable to stay current with the changes to the U.S. tax code, and it’s highly unlikely they stay current on international tax codes, as well. Morey and the employees of Glazer Financial, promise to keep up-to-date on all changes in the tax code, so they can help you plan for your financial future.

 

Key Takeaways:

[:57] Often, accountants and tax attorneys aren’t up-to-date with international tax laws.

[2:06] The recent highway bill changed many of the due dates for U.S. taxes.

[2:33] Obamacare ended up costing us all a lot of money.

[3:22] The employees of Glazer Financial keep up-to-date with all the current tax changes.

[4:05] Morey failed his advanced taxes exam, because he memorized the entire tax code.

[5:38] People who live on foreign soil, but maintain a residence in the U.S., could lose the Foreign Earned Income Credit.

[6:26] Planning for your future tax situation will help you to transition to your new country.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Nov 8, 2016

On this episode, Morey and Macarena discuss asset protection, and how easy it is for foreign banks to mislead the unprepared foreign investor. In addition to the copious amounts of tax forms required by the IRS, foreign investors may also be required to show proof of their income, and have foreign investments evaluated. The right tax professional can help you to be ready for the next mandate. Call Glazer Financial for your free initial consultation.

 

Key Takeaways:

[1:08] The government wants to know about all of your offshore assets.

[1:47] The U.S. wants to be able to tax a person's entire estate when they pass.

[3:02] Foreign investments can be risky. You need to be prepared.

[4:46] Government entities have agents dispersed in all areas of life, looking for inconsistencies.

[6:01] Many times, when people buy gold they don’t know exactly where it came from.

[7:05] Morey knows people who have lost millions of dollars because foreign investment banks are shady.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

Nov 1, 2016

On this episode, Morey and Macarena remind us of how important it is to plan to plan. If you, or someone you know, is thinking about moving overseas you must have an honest, experienced tax and lifestyle planning specialist like Morey Glazer, or someone on his team at Glazer Financial. Stay compliant, live a good life and be prepared!

 

Key Takeaways:

[:58] A vacation in a foreign country is much different than buying a piece of property there.

[1:52] Every state is different, when it comes to taxes.

[3:10] Today’s technology allows people to live anywhere on the globe, and still work.

[3:32] Morey is always available to solve clients’ problems.

[4:16] Staying compliant with the IRS is of the utmost importance. Do it before you leave the U.S.

[4:53] Many countries follow suit, and adopt the same systems as the U.S.

[5:35] Lifestyle planning can help you stay on track, no matter where you are from or where you are going.

[7:24] Taxes and penalties can be your biggest cost of moving overseas.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

 

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