TMBA 312: Let’s Talk Tax
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One of the major issues that location independent entrepreneurs, who spend time outside their home country, grapple with is tax. Let’s be honest: we’re all looking for ways to pay less of that! Phil Hodgen is a leading lawyer in this field, advising his clients on the relative advantages of foreign earned income exclusion, acquiring overseas residency or even, in some cases, expatriation. In this week’s show we bring you advice that could save you thousands of dollars. And yes, we’re talking dollars. This guidance is mostly applicable to U.S. citizens but Phil also talks about general principles that other nationalities will find useful too.
Listen to this week's show and learn:
How to break down tax liability in terms of "Never, Less and Later". (2:38)
The primary benefits of proving "bonafide residency". (5:01)
How telling the truth in your financials can help you make even more money. (18:40)
The case of the "Accidental American". (23:05)
The advantages and disadvantages to keeping your U.S. passport. (31:42)
Mentioned in the episode:
The Dynamite Circle
Hodgen.com
DCBKK
Form 2555
Form 5471
Form DS 4079
The Expatriation Chronicles of an Accidental American
Dan on Twitter
Ian on Twitter
Jane on Twitter
Enjoyed this podcast? Check out these:
TMBA030: How We Manage Our Finances and Minimize Taxes, Plus LLCs vs Corporations
TMBA081: Huge Tax Breaks for Expats (Plus the 3 Biggest Tax Mistakes Expats & Travelers Make)
TMBA172: Taxes, Taxes, Taxes, Taxes (featuring David McKeegan)
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Thanks for listening to our show! We'll be back next Thursday morning 8AM EST.
Cheers,
Dan & Ian