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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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Now displaying: November, 2016
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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