In this episode, Morey and Macarena discuss Obamacare, FACTA and the importance of financial planning. Many insurance companies in the U.S. are refusing to foot the bill for the millions of unemployed and impoverished citizens who are currently under Obamacare coverage. They have decided to allow the government to bear the burden by way of increasing taxes. Penalties by the IRS are making this a damned if you do and damned if you don’t vicious cycle. The only way you can be prepared for the upcoming changes is to allow the professionals at Glazer Financial to take the reigns of your financial future.
[0:55] Visitors to foreign countries are finding it increasingly difficult to retrieve their money from the U.S.
[3:05] Obamacare doesn’t really offer the impoverished proper insurance and it affects income tax.
[6:37] The U.S. government will fine business owners who don’t supply health insurance to employees.
[8:46] The political parties are considering a single pay system.
[11:05] Insurance companies are refusing to supplement Obamacare.
[13:31] Insurance companies make a lot of money on products other than healthcare policies.
[17:17] Citizens are often powerless against the government machine.
[17:38] Changes in the Highway Bill affect tax due dates.
[19:28] Financial planning is the only way to keep ahead of the fines and the taxes.
Mentioned in This Episode:
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Tuesday Tax Tips with Morey is back, with Morey and Macarena discussing the possibility of a seminar in Mexico and a series of online seminars designed to help expatriates stay compliant and avoid IRS late fees and penalties. In fact, Glazer Financial has been a leader in reducing expat penalties and even eliminating tax penalties for their clients. Contact Macarena with your international real estate inquiries or contact Morey to assist you in planning for your financial future.
[1:18] U.S. tax compliance issues for people moving offshore.
[4:16] A client in Hong Kong must show where his money came from - even if it is just a dividend on a savings account.
[5:50] Tax due dates have been changed. The changes were hidden in a highway bill.
[7:23] There are different individual forms for offshore accounts and assets, including offshore corporations.
[8:00] Glazer Financial has been successful in getting rid of penalties or agreeing to a highly reduced amount.
[10:27] Some people leave the U.S. and give up their citizenship.
[11:32] Will the IRS do away with the Voluntary Disclosure forms?
[14:08] Taxes, international real estate and Mexico make a good combination.
[16:50] Glazer and Macarena may start a series of educational events.
[19:21] How did the IRS hide a 3.8% tax increase in Obamacare?
Mentioned in This Episode: