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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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Apr 19, 2016

At the end of 2014 and 2015, Congress added and changed tax provisions in budget extension bills. Many of these changes go unnoticed by some preparers, but not by Morey Glazer. He and his team are continually reading and investigating the tax code so his clients don’t have to. They are competent in FACTA requirements, Obamacare and the Foreign Earned Income Credit for those who spend time living and investing offshore or have a vested interest in an offshore corporation.

 

Key Takeaways:

[1:32] What was significant about the extension bill Congress passed on December 15, 2014?

[6:24] You may be missing important tax deductions if you are using a filing program such as Turbo Tax.

[9:15] FACTA requires you to prove you have paid taxes on any money you move to an offshore account.

[11:00] If you make over $250,000, including passive income, you have an additional 2.8% tax based on tax changes included in Obamacare.

[14:03] The extender bill added deductions for investments in new equipment. 

[16:44] Don’t forget to obtain the proper documentation when making charitable donations!

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

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