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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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Sep 20, 2016

Planning for your retirement can be time-consuming and difficult if you are not an expert on the savings plans available. There are 401(k) plans, profit sharing plans, IRAs and others. The trick is to understand the requirements and benefits each plan offers. Some will allow you to borrow money from yourself to buy cars or international real estate. The loan will be with yourself and you pay yourself back the interest and your taxes are lower. In order to realize the benefits of retirement plans, you must sign up by the end of the current tax year which is December 31, 2016. Don’t delay, save money today.

 

Key Takeaways:

[1:17] Planning for your retirement before the end of the year.

[2:30] 401(k) profit sharing plans allow for savings up to 25% of annual compensation.

[4:15] There are many different savings vehicles to consider when planning for your retirement.

[7:19] Combination plans offer diversity for your investments.

[9:30] Retirement plan accounts must be open prior to December 31, 2016.

[10:10] You can borrow money from your 401(k) account to buy properties.

[13:23] It doesn’t matter if you have bad credit because you are giving the loan to yourself.

[14:21] Planning can help you avoid paying the highest tax rates.

[17:16] Will tax rates be lower in 2017?

[18:05] Increasing your net worth is the goal of financial planning.

[19:57] Morey is working on an international radio series.

[21:00] The stock market has been inflated up to 300%.

 

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

 

Sep 13, 2016

On this week’s episode, Morey takes time away from his busy schedule to share the latest updates on changes to the U.S. tax code. He’s joined by Macarena Rose, an international real estate expert located in Belize. At the same time, the team at the Glazer Financial office is busy preparing taxes, making corrections and working with the IRS to maximize savings for clients. The team is able to provide detailed feedback on bankruptcy cases, instances where another tax preparer has made mistakes and even help if you have failed to file your past taxes.

 

Key Takeaways:

[1:44] Morey presents new ways to protect your personal assets.

[5:30] People want to do their own taxes but don’t consider how they will handle an audit.

[6:47] A tax specialist has the tools most taxpayers aren’t aware of.

[8:14] Glazer Financial can review your tax returns and let you know up front what it will cost to complete the tax forms.

[13:11] Be sure to enquire on the qualifications of your tax preparer.

[16:43] Glazer Financial ensures the accuracy of your returns through several levels of reviews.   

[17:22] Bankruptcy cases can be difficult for non-professionals to sift through.

[19:04] The IRS hides changes in larger bills but Morey keeps up on the latest changes.

[23:05] It’s important for corporations to file their forms by the deadline in October.

 

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

Sep 6, 2016

In this episode, Morey and Macarena stress the importance of financial planning and preparing for your retirement. Morey shares a real life example of a 70-year-old family member who was talked into using his IRA to purchase a piece of property. The family member did not consult with Morey until after the deed was done and now wonders if his decision was a good one. Morey and Macarena stress the importance of vetting anyone who wants some of your money, and always contact Glazer Financial before making any financial or tax-related plans.

 

Key Takeaways:

[0:49] Planning to plan is important. Here is an example of someone who didn’t.

[4:35] Before investing your retirement plan into real estate, check with your financial advisor!

[6:12] Make sure you have a monthly income when you retire.

[7:17] Real estate is a gamble just like every other investment.

[9:20] It is imperative you file your tax returns even if you don’t owe any tax.

[12:57] Glazer Financial examines 2 years of past tax returns at no charge.

[13:31] It’s time to do your financial planning for 2016.

[16:48] Glazer Financial can also help with retirement planning.

[18:33] Online research makes vetting your financial representative easy.

[20:20] Contact Morey or Macarena with any questions you may have.

 

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

Aug 30, 2016

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.

 

Key Takeaways:

[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:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

Aug 9, 2016

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.

 

Key Takeaways:

[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:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

Jul 26, 2016

August 14, 2016, has been slated as the official date of our Tax Tips with Morey, conference in Dallas, Texas. This is the place for you to bring your questions about the legal issues, tax requirements and compliance for Morey to answer directly. Many of our listeners have similar issues so what better way than a face-to-face conference to get everything out in the open. Macarena will be flying in from Belize to offer resources on offshore real estate opportunities. Contact us using the information below to secure your spot!

 

Key Takeaways:

[1:03] Morey must pay attention to tax changes because they happen every 30 seconds.

[4:04] Free legal, tax and real estate advice at the seminar on August 14th in Dallas.

[7:49] There are key things to know about moving offshore so you stay in compliance.

[10:03] Bringing a group of people together will help the group as a whole to avoid mistakes.

[10:35] You must prove your income annually with the IRS or they can take your passport.

[14:19] Morey & Macarena work with many different people, so they are able to inform you what works and what does not work.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

Jul 19, 2016

Morey and Macarena join forces again on this episode to help U.S. citizens stay legal no matter where they reside. Morey warns of fraudulent calls and emails from people falsely claiming to be the IRS, what correspondence from the IRS really looks like and how Glazer Financial can take some of the burden off you at tax time. If you like our podcast you will love our Tax Tips with Morey Live event in Dallas, Texas this August. Listen in to find out more.

 

Key Takeaways:

[1:24] What should people do if the IRS contacts them via telephone or email?

[6:09] Possible problems you can run into when dealing with the IRS.

[9:25] In order to avoid interruptions in daily life stay current with your taxes.

[10:53] Glazer Financial can resolve tax issues so clients do not have to be involved.

[13:06] The Financial Disclosure Act is influencing other countries to look more closely at expatriate taxes.

[17:44] The August 13th seminar in Dallas, Texas will feature planning advice from Morey.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

Jul 12, 2016

Many expats are unaware of the IRS requirement of filling out a Foreign Bank Account Regulation form (FBAR) during tax time. Not understanding the requirement does not make a tax payer immune to the penalties, taxes and interests that commonly follow when the IRS figures out an expat did not file. Proper planning with an accountant who is up-to-date on current tax laws can be an expat’s best defense against large, unnecessary penalties. The savings can be used to purchase additional tax-deferred assets like real estate.   

 

Key Takeaways:

[1:11] How serious are the penalties if I fail to file the Foreign Bank Account Regulation (FBAR) document?

[3:08] FACTA regulations are making it difficult for expatriates to open bank accounts in foreign countries.

[6:20] Buying gold and silver will not make a taxpayer immune to paying the appropriate tax on the value.

[7:27] It’s much less to pay $200 to file the FBAR compared to the $10,000 IRS penalty. 

[11:12] Morey’s goal is to get everyone the information so tax penalties and interest can be eliminated.

[14:57] Long-term employees prove that Glazer Financial will be around for your future.

[18:03] There are a lot of tax advantages in buying real estate.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

Jul 5, 2016

Morey is back with Macarena to give you all of the up-to-date tax code information and changes. If your accountant doesn’t stay on top of things they could be doing you a disservice, which could eventually come back to haunt you by way of additional taxes and penalties. Any expat who hasn’t filed their taxes or who owns an offshore corporation is at risk. Call Morey or contact Macarena today.

 

Key Takeaways:

[1:10] More and more people who live outside of the U.S. believe they don’t have to file because they don’t make enough money.

[3:21] The government may try to impose a tax on foreign corporations or offshore assets.

[6:38] It is so important to have an accountant who is up-to-date on the changing tax laws.

[10:20] Glazer Financial started with 45 clients and has grown to over 4,000.

[12:47] As the U.S. needs more and more money, there will be a system created to catch up with everyone.

[14:05] How many people know what their taxes are for 2015, 2016 and what about 2017?

[16:14] Do you consider ALL of your deductions and donations at tax time?

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

Jun 7, 2016

Today Morey and Macarena are both in Belize discussing the importance of planning, tax compliance and moving offshore. Stressing the importance of planning, Morey says that “even successful people make mistakes in dealing with offshore tax compliance. It’s because the rules are changing all the time. The IRS wants every dime they are owed.” If you have moved offshore or are planning a move, the best thing you can do is call or email Morey because his team will take care of the boring details while you live out your dreams!

 

Key Takeaways:

[1:27] Many people move offshore without thinking about their tax compliance. 

[4:14] The U.S. Government has access to most of the offshore banks which are popular expat destinations.

[7:25] There is a civil penalty of $10,000 for not advising the IRS of a foreign bank account.

[8:56] People are very excited to move to a foreign country but they need to make planning a priority.

[10:10] Morey is accessible and flexible on the cost of initial consultations because he works for your best interest.

[12:50] Even very successful people make tax mistakes when they are dealing with offshore regulations.

[15:23] If you have already made the move offshore, Morey can help you to reevaluate your tax situation.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

469-358-2818

May 17, 2016

Today Morey and Macarena discuss the importance of Health Savings Accounts and how they can be used to make necessary daily expenses tax deductible. Morey stresses the importance of planning and how a few precautions now can save you big money in the future should an accident or disaster happen. Morey and his team at Glazer Financial are dedicated to keeping up with the ever-changing tax code and how they can help you, the client, save, save, save.

 

Key Takeaways:

[1:13] Accountants can not keep up with the ever changing-tax landscape driven by the government.

[2:37] Everyone should be looking into Health Savings Accounts or HSA’s for tax deductions.

[5:16] Consider setting up a Family Limited Partnership to hold all of your assets.

[13:36] Planning now allows you to start building your net worth.

[17:25] An umbrella insurance policy is essential to keep your assets protected.

[19:00] Blog and Contact information for Morey and Macarena

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

May 3, 2016

People often visit a foreign country for a quick vacation and then end up falling in love with a piece of real estate. They may feel as if they are doing their research by scouring the internet for information, but without an accountant who can help with tax planning and tax codes they may find themselves in a bind at tax time. Don’t let this happen to you. Let Glazer Financial give you the much-needed expertise you need.

 

Key Takeaways:

[1:27] The tax rate on passive income is going up by 4% and everyone needs to plan for it.   

[7:26] Are people required to pay the same taxes if they move offshore?

[10:30] If you buy a piece of property in another country, then do everything you can to transfer the money in the United States.

[15:58] Does it make sense to incorporate offshore properties?

[17:31] Don’t take internet information at face value. Talk to the experts instead.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

MacarenaRose.com

800-999-8931

Apr 26, 2016

If you don’t plan for the tax year ahead, how will you know how much of your earnings to hold back? Whether you are a real estate agent in Belize or a small business owner in the US, the IRS still wants its share. And, the tax code is not easy to understand or keep up with. Today Morey and Macarena discuss the unavoidable 30% withholding tax for sending money offshore, the possible tax problems with partnerships and tax changes regarding depreciation and bonus depreciation percentages.

 

Key Takeaways:

[1:08] Accountants listen up! Morey makes you a job offer in Dallas.

[3:13] LLCs are the best type of corporation for protecting your assets but the government is considering penalizing partners for tax liens.

[8:29] What happens when you can’t pay your annual tax? Can you file as a different type of corporation?

[12:50] When you buy new equipment for your business you can bonus depreciate it at 50% but you should be planning for the next tax year.

[15:44] Pre-planning allows you to take deductions for work-related expenses such as your automobile and improvements.

[19:56] Can the 30% withholding tax for shipping money overseas be avoided?

[22:01] Why is the National Association of Realtors warning people to be careful about emails about mortgage closings? 

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

972-385-0007

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

Apr 12, 2016

Many of today’s accountants are not familiar with the tax rules and regulations of owning foreign assets, foreign corporations or foreign bank accounts. Through the Fair and Accurate Credit Transactions Act (FACTA), companies and individuals are required to voluntarily disclose any foreign assets. In addition, if a foreign held account contains more than $10,000, a Schedule B must be prepared at tax time to alert the IRS of its existence. Some people may believe moving money or other assets, like gold and silver, offshore without paying a withholding tax is legal, but it’s not.

 

Key Takeaways:

[1:11] What exactly is FACTA and how does it affect foreign banks?

[4:20] US citizens should make their future financial plans while still in the US, before moving to a foreign country.

[5:55] Even Swiss banks had to turn over the names of account holders before voluntary disclosure measures were put in place.

[7:40] Many accountants don’t know foreign account holders must file a Schedule B, if there is more than $10,000 in an account.

[10:08] Morey believes new taxes will be imposed on corporations who move workers offshore.

[11:38] Moving gold and silver offshore without paying the 30% withholding tax is called money laundering and it’s illegal.

[13:50] Protecting your assets should be your primary financial goal.

[16:23] Why it is important to talk to an expert to get the correct information for your personal tax strategy.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

Apr 5, 2016

This week, Morey and Macarena discuss the importance of doing your due diligence before moving abroad. Careful tax planning can save you thousands of dollars in possible fees and duties. You should research the country you plan to move to with a fine tooth comb. Make sure to find out what type of leadership the country has, what import duties may apply and if your residency status in the country affects your US citizenship.

 

Key Takeaways:

[1:00] When you plan to move offshorem, make sure you know which taxes are due on your savings plans and accounts. 

[6:00] John F. Kennedy reduced income taxes while he was in office.

[9:03] Is the country you are moving to better than where you are currently living in the US?

[13:05] US citizens can travel to many places without a visa.

[15:46] Import duties apply in certain countries so know how much you need to pay before shipping your personal goods.

[18:51] Glazer Financial has foreign account planners who know which right forms and special programs apply to those who live overseas.

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

mglazer@glazerfinancial.com

Mar 29, 2016

When planning for your financial future, you need a planner who is easily accessible and has the required experience to assist you in your unique situation. Macarena, Morey and the entire team at Glazer Financial have the knowledge, the experience and the up-to-date information to keep you current, informed and paying the lowest taxes possible.

The team would love to hear from you and read your question during next week’s podcast. Send your questions to macarenarose@gmail.com or add a comment in Tuesdays with Morey on Facebook.

 

Key Takeaways:

[1:37] Does your accountant know how to handle your special tax situation?

[7:11] Do I have to pay tax if I open a foreign corporation?

[10:14] Morey can help to save you much more money than the cost of his fee.

[12:11] What are the types of questions advisors should be asking clients to help them prepare for their financial future?

[16:24] Will I know what my charges and fees are for Morey’s services before I agree to turn over my documents?

[18:17] Glazer Financial has over 30 years of experience in helping clients to lower their taxes.

[20:06] How many accountants should a good financial planning company have?

 

Mentioned in This Episode:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Mar 22, 2016

If you haven’t filed your taxes or think you may have made a mistake because you didn’t understand the tax code or foreign earned income credits, contact Morey’s office, Glazier Financial today. They will look over your past 3 Federal returns and supply you with an analysis to help you plan for your financial future. In addition, they will make certain you have the necessary tax forms filed. As a US citizen, you have a tax liability for life, no matter where you choose to do business or reside.

 

Key Takeaways:

[1:14] Morey shares important information for expats

[2:55] Teaching CPAs and attorneys in the pension administration business

[3:33] Determine why you are going offshore

[4:14] Some expats don’t even file tax returns

[5:44] Hidden tax implications in US non-tax related bills

[6:57] Foreign countries want your tax money too

[7:45] The IRS looks at the variances in tax returns

[9:32] A computer may not pick up the same things a tax planner does

[10:29] Foreign income could be considered Subpart F Income

[11:34] The Employee Retirement Income Security Act

[13:36] Foreign tax credits - Which IRS forms to use

[16:10] “We don’t disclose” is a thing of the past

[17:20] The Federal Government is expanding what they consider to be a financial institution

[18:14] Do it right the first time

[19:16] Understand the taxes in your foreign country and your tax liability in the US

[20:52] Plan before you move or invest internationally

 

Mentions:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Mar 15, 2016

Tax regulations are complicated enough in the US and if you have property or assets offshore you may find yourself reeling by the ever changing rules in the tax code. The Foreign Account Compliance Act (FACTA) focuses on the reporting and proper tax filing of offshore assets. If you are unsure about the applicable taxes, credits and rules regarding your upcoming move to a foreign country, allow Glazer Financial and Macarena Rose to help you to simplify the process. 

 

Key Takeaways:

[1:28] People forget to pay their tax, which causes penalties from the IRS

[3:39] Planning is important if you are moving offshore, starting a business or running a household

[7:43] Get assistance from a professional when investigating moving offshore

[9:11] Glazer Financial analyzes 3-years of past returns to make certain there are no mistakes

[11:59] Make a business or personal plan to keep yourself from going broke

[12:36] Tuesdays with Morey is a mentoring program

[14:59] New offices will be opening in Belize and Guadalajara

[17:07] Morey speaks and holds seminars for several large organizations

[18:05] Spend more than 330 days offshore & qualify for foreign earned income tax exclusion

[20:09] Voluntary Disclosures and the Foreign Disclosure form will keep you from being audited

 

Mentions:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Mar 1, 2016

If you are not familiar with the IRS’s new program designed to uncover all of your assets, anywhere in the world, you need to listen to this week’s episode. Morey Glazer and Macarena Rose discuss the tax changes which were added to the Highway Bill, Obamacare, and BBDECA. All of your foreign interests will be scrutinized and you need to be prepared. The best way to prepare yourself is to hire a professional and engage in a tax planning program. Remember, audits cost money so do it right the first time.

 

Key Takeaways:

[1:40] The IRS is coming after taxpayers and ditching Voluntary Disclosure

[3:30] Hiding assets is no longer an option, put your money in safe places

[5:42] There are laws in the US designed to protect us

[6:50] An LLC used to protect precious metals and real estate in private homes

[7:40] The 2015 Social Security changes embedded in Obamacare

[9:01] Justice to the Balance Budget and Emergency Deficit Control Act

[12:12] IRS upgraded their system so no returns were processed during the first week of January 2016

[13:50] Glazer Financial will review your last 3 returns at no charge to you

[16:18] Tax planning and cost reduction strategies through asset protections to build net worth

[18:40] Thinking about starting a foreign trust? Be aware, changes can be made without consent

[22:06] Knowing the right questions to ask when writing a will

 

Mentions:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Feb 9, 2016

If you haven’t been filing a tax return with the IRS because you don’t think you owe any taxes, consider how you will prove you don’t owe any taxes if you get audited. If you live outside of the US you should always hire a professional to file your taxes for you, even if your income is from the Social Security Administration. You want to make sure the forms you submit are mistake free.

 

Key Takeaways:

[1:02] December 15th, 2015 saw changes in the tax code

[2:30] Glazer employees work 12 months a year to keep you compliant

[3:17] No matter where you live you still need to pay your US taxes

[3:47] You could lose your passport

[5:08] We help you keep up with every change in the tax code

[7:00] Paul S. wants to know if he needs to file if he doesn’t owe any taxes

[8:20] The IRS could audit you, which costs money

[10:13] What if my money comes from Social Security benefits?

[11:22] File if you have a foreign corporation or a foreign bank account

[12:47] An ounce of prevention is better than a pound of cure

[14:12] You can’t blame your professional for problems

[15:13] Go to a professional and have your return prepared for you

[16:04] Glazer Financial offers a free 3 year tax review

[16:45] If you send us questions you are helping other people

[17:44] Thank you listeners

 

Mentions:

Glazer Financial Network

macarenarose@gmail.com

Tuesdays with Morey on Facebook

Jan 26, 2016

When living internationally, you need a tax preparer who is ever vigilant and keeps current on any and all tax changes. Do you know how important selecting the correct entity type is for your tax planning needs? If you don’t have a professional to help, you may end up owing a large tax debt to the IRS. If you are not able to pay it and do not have someone to negotiate a payment schedule, then you might find yourself in default and without a passport.

 

Key Takeaways:

[1:37] The Bonus Depreciation Rule is extended

[4:03] Using credit cards allows you to deduct the items in the current year

[5:01] Making trades in the U.S. Government

[6:05] Morey works 24/7 and keeps up with all the changes

[6:54] Morey’s show is helping people from all over the world

[7:38] The advanced tax class Morey failed by scoring 100%

[8:58] Going to the person who can answer your questions

[9:36] The government can take your passport if you don’t pay your taxes

[10:35] An S-corp flows all of the income to a personal tax return

[12:04] The C-corp has a tax bracket of 15% on the first $50,000

[13:20] Entity selection is important for your tax planning needs

[14:34] Foreign Earned Income Tax Credit only applies when you are working for your money

[16:18] You need professionals who watch all the changes

[17:28] We are proficient in reducing IRS penalties

[19:22] We supply options and planning support to taxpayers

[21:45] The Belize event in March

 

Mentions:

Glazer Financial

macarenarose@gmail.com

Tuesday with Morey

Rainforest Realty

mglazer@glazerfinancial.com

Jan 19, 2016

This week Morey answers a listener’s question about the FBAR. He talks on why you need to file, who needs to file, and when and how your FBAR forms need to be filed. Monetary penalties can be severe, as well as the possibility of losing your U.S. passport. Morey and the rest of the Glazer Financial team look at hundreds of tax forms every month and keep checklists of compliance requirements. Be sure to listen next week when Morey and Macarena discuss real estate losses and penalties for health insurance.

 

Key Takeaways:

[1:21] People tend to tense up when talking about their taxes

[1:50] The date for filing the FBAR (form #114) has changed and it must now be e-filed

[3:00] If you have $10,000 for even one day, you must file the FBAR

[4:27] Even if you borrow the money, you must file

[7:00] What exactly is an FBAR?

[7:31] All the banks in the world give information to the IRS

[8:45] What are the penalties by the IRS for not filing the FBAR?

[9:31] Owning gold may still be an applicable account

[10:40] If you lose the money you could possibly write it off

[11:25] You could lose your passport if you are not compliant

[13:19] Glazer Financial has a compliance checklist

[14:06] We look at hundreds of tax returns a month

[14:35] There are rules, when you live offshore, to qualify for tax breaks

[15:27] People think they don’t have to file

[16:05] Next week’s questions are on real estate losses and penalties for health insurance

 

Mentions:

Glazer Financial

macarenarose@gmail.com

Tuesday with Morey

Rainforest Realty

mglazer@glazerfinancial.com

Jan 12, 2016

This week we answer a question from a listener who wants to know if they need to file a U.S. return, if they don’t expect to owe taxes. Morey suggests people shouldn’t assume they know the answer to any tax questions, because the tax code changes so rapidly. Morey and the entire Glazer Financial team have pledged to keep current on all tax changes to make tax planning as easy as possible for expatriates, whether they live inside or outside of the U.S.

 

Key Takeaways:

[1:00] On December 15, 2015 – tax changes took place

[1:55] Getting deductions you never knew you had

[2:47] Morey can help you to stay compliant with U.S. tax laws

[4:38] Morey answers listener questions

[5:38] The budget bill, which was just passed, had more than 2000 pages

[6:52] Paul S. wants to know if he needs to file a tax return

[8:51] File the tax return even if you don’t owe any tax

[11:22] You have to file if you have a foreign corporation or foreign bank account

[12:47] You cannot assume anything unless you do the work

[14:11] You cannot use the excuse of “bad information” from your tax professional

[15:03] The cost of an audit is more than what the original tax would be

[16:02] We don’t charge for a 3-year tax review

[16:53] You may be helping someone else by asking your question

[17:36] Every Tuesday we’ll have a new episode with tax help for you

 

Mentions:

Glazer Financial

MacarenaRose@gmail.com

 

Jan 1, 2016

Morey answers listener tax questions about trusts, tax filing requirements and the changing Social Security laws. Morey constantly reads and reviews international tax law and changes in the U.S. tax code, so you don’t have to. He reminds us that tax planning can save you money and often times get your hard earned money refunded to you.

Listen in every Tuesday to get answers to your tough tax questions.

Key Takeaways:

[1:25] Morey answers listener questions

[5:44] How to get your free 3-year tax review

[12:41] We have 4000 international and U.S. clients

[14:36] What about having a Panamanian corporation?

[15:47] Penalties on foreign trusts can be huge

[19:03] FACTA rules allow foreign governments to tax your money

Mentions:

Tuesdays with Morey on Facebook

Glazer Financial

mglazer@glazerfinancial.com

 

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