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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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Tuesdays with Morey - Tax Tips®
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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

 

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