ELGON FINANCIAL BLOG
How to Report Foreign Rental Income When You File Taxes
If I own foreign rental property, do I have to include the income when I file my US taxes? The answer is yes, although it depends on your tax residency status. Read the rest of the post for the details on how you go about figuring this out and what to do with your foreign rental income.
How to File Taxes the First Year as an Immigrant
Filing taxes the first year in the US as an immigrant or as a non-US citizen is not for the faint of heart. You need to figure out your filing status, in addition to understanding different concepts in the tax code. This post discusses what you need to keep in mind as you go through the process.
13.1 Miles, A New PR – Money Lessons Solidified
Completing 3M Half Marathon race this weekend, was another reminder that financial planning is not a sprint, but a marathon. Money lessons solidified.
How to Build US Credit as a New Immigrant
How to build U.S. credit as a new Immigrant – In this post, I break down what U.S credit score is, what it’s used for and how to start building it with zero credit history. This is addressed to those brand new immigrants, but applies to anybody that’s looking to start building their credit history.
Gift Giving Stress: How to Deal With it
We stress a lot about gift-giving during the holidays. It’s especially more noticeable between couples. It turns out, there is a perfectly logical reason for this – Money Scripts. It’s all about how we grew up, what we learned about money and the experiences that contributed to our money scripts. Understanding this can go a long way in helping us manage this stress.
Taxable Brokerage Account + The Special Use Case For Foreign-Born Families
In this post, I discuss why a taxable brokerage account should be a part of your investment/saving strategy. By the end of the post, you’ll know the answer to questions like – what is it, what are some of the benefits of the account, things to watch out for with the account. Finally I discuss the special use case for foreign-born nationals.
Roth IRA, The Best Money Decision For Your Teen
While most view a Roth IRA as an account to be opened later in life, the best time to start saving in this account is when teens are beginning to make their first buck.
The Child Tax Credit – Advance Money Payments For 2021
The in-depth specifics of the Child Tax Credit and how the 2021 monthly advance payments could potentially impact your financial situation if you qualify.
