What does it take to be successful in the US as a foreign national on a work visa?
Is the American dream still alive?
A fascinating conversation with fellow expat planners on this two issues.
(Includes video)
What financial planning strategies do you need if you are foreign-born (immigrant) or a foreign national?”
If you are one of the 45 million foreign-born individuals now calling the US home, you have specific financial planning needs that go beyond what a traditional financial planner offers.
Read on for strategies that will allow you to maximize your US resources and your worldwide assets while staying tax compliant.
Today I’m going to show you how the IRS gets information about your foreign accounts.
They know how much you have in there, and they know when you reach certain thresholds They know when you should be reporting this and when you shouldn’t.
My first post on retirement daily discusses tax issues to be aware of, if you own any type of non-US financial assets. The focus is on keeping the taxman happy, saving yourself some money and future stress if you have non-US financial ties.
If you own any cash or securities type of assets in a foreign country, you might need to file an FBAR at tax time. Your top questions on the topic answered.
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