We Americans have it rough when it comes to taxes.
The Big Bad Wolf of the world’s financial arena—the IRS—calls our neck of the woods home.
Feared worldwide these days… by banks and financial institutions as well as ordinary citizens from California to Switzerland… the U.S. Internal Revenue Service has become the hunting dog for politicians unable to balance the nation’s checkbook.
Outlandish fines, loss of travel, and even an orange jumpsuit can await anyone who makes even an unintentional error with a tax filing.
Make no mistake: As an American, you must file your taxes every single year of your life, no matter where in the world you live or how long you live there with few exceptions.
That’s a lot of chances to miss something on a tax form…
Too many.
Then, even if you do everything right, and no matter where in the world you’ve made your money, the IRS is standing by still, ever eager to bite off its pound of flesh.
The U.S. tax code has around 2,500 pages. However, you have to add in the IRS regulations, rulings, and clarifications, which add up to another 9,000 pages. Tax professionals use CCH’s Standard Federal Tax Reporter to help them understand the actual code. That publication is more than 70,000 pages and is updated monthly. That’s a lot of obligation and liability.
On the other hand, that’s also a lot of opportunity for “loopholes”…
Many are the result of years of congressional lobbying… others come from bouts of temporary sanity within our nation’s capital… while some continue simply because they’re overlooked.
Regardless of their provenance, the IRS has no incentive to educate Americans on any of these tax-saving opportunities.
This is where I come in.
How You Can Learn About Tax-Saving Opportunities
My team has just conducted an extensive and exhaustive review of relevant tax code pages for individuals. With many decades of combined U.S. and global tax experience among us, my tax guys and I have done what no one else, frankly, would be able or qualified to do at this level.
We have worked together to identify and document everything an American taxpayer needs to know to be able to mitigate his tax burden…
As well as (and this is perhaps even more important in today’s climate) everything you must know to avoid making a mistake in any of your annual filings.
These are the tools that every American who spends time or has investments abroad absolutely needs to have to save money and to escape fines… or worse.
Did you know you can legally earn up to US$224,000 every year… completely free from U.S. taxes? It’s simple to file for this savings if you know the right forms and qualify…
Have money in a bank overseas? Does that account have US$10,000 or more in it? If so, you better report it using the right form… failure to do so can cost you at least US$10,000, and up to US$100,000, for each unreported account…
What Is FATCA? And What Does It Mean For You And Your Taxes?
Can’t stomach the thought of filing IRS tax forms every year for the rest of your life? An option does exist to escape the IRS’ yoke forever…
Own real estate property overseas? Did you know that you can deduct tens of thousands of dollars on your taxes each year, just by enjoying that purchase?
What’s more, if you decide to sell any of your properties abroad, it can be possible to avoid paying capital gains…
Nearly but not all of your foreign assets are reportable. What doesn’t Uncle Sam need to know about?
My team and I dig into all of these questions and hundreds more, including case studies and template filing forms, in my new “Taxman’s Guide For The American Abroad”… available just in time for this year’s tax season.
I’ve asked my publisher to allow me to make it available to Overseas Opportunity Letter readers.
I suggest you take her up on the limited-time offer. Details are here.
Lief Simon
Editor, Offshore Living Letter
