Managing Money Abroad

Every tax season, U.S. filers face an eternal question: tax deductions vs tax credits—which one actually saves you more money? It’s a bit like asking whether you’d rather have a coupon that takes a few dollars off your dinner bill, or a gift card that covers the whole entrée. Both are great, but they work […]

Most Americans know basic tax concepts and terminology, like income, credits, deductions, and exclusions. Phrases like modified adjusted gross income (MAGI), on the other hand, aren’t always as well known. If you’re not familiar with MAGI, it can benefit you to read up on the concept. After all, understanding your MAGI can help you reduce […]

It’s a question that comes up for expats almost every year: “Should I choose the standard deduction or itemized deductions?” The answer — as with so many things in life — is “it depends.” But if you need help choosing between itemized deductions vs. the standard deduction, we’re here to help. While the standard deduction […]

Every investor hits a rough patch. But for U.S. expats, a dip in your portfolio isn’t just bad luck—it’s a tax opportunity in disguise. Tax loss harvesting is the strategy of turning your investment losses into real-life tax savings by offsetting capital gains and lowering your taxable income. It’s like spring cleaning for your portfolio—except […]

It’s usually not ideal to withdraw from retirement accounts before you reach retirement age. For one, withdrawing these funds early means you miss out on the exponential tax-free growth they can accrue over decades. What’s more, the IRS levies both a 401(k) early withdrawal penalty and an individual retirement account (IRA) early withdrawal penalty. With […]

After years of saving for retirement, if you hold qualified US retirement accounts, you’ll need to take required minimum distributions (RMDs) at some point. While the rules around RMDs and RMD taxation are complex — especially if you live outside of the United States — they’re also essential to understand when retirement planning in order […]

When tax season rolls around, many expats find themselves wondering: Should I do my own taxes? While it is possible to do taxes by yourself or with the help of tax preparation software, it’s not exactly ideal. The US tax code contains many complexities as is. Factor in expat status, and it gets all the […]

I can do my own taxes; why would I pay someone to do them for me? Have you ever said this but then regretted it? Don’t worry, we get it. People start out thinking — how hard can it actually be — then end up tangled in forms, calculations, and deadlines, horrified they might have […]

Whether or not you intend to retire abroad, there’s one thing you can never be too careful with: how you save for retirement right now. Retirement accounts for expats require careful research and planning, and for Americans living abroad, there are special considerations to take into account. In your sunset years, you’ll want to have […]