A Cross-Border Finance & Tax Podcast To Filter Out The Noise
Hosted by Jane Mepham, CFP & Manasa Nadig, EA
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About
The International Money Café Podcast addresses the unique financial, tax, and life challenges faced by foreign-born individuals, foreign nationals on work visas, and U.S expats living outside the U.S.
Join us as we navigate the financial complexities, decode the challenges, and provide actionable strategies for thriving financially in a global landscape.
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Every episode gives you tips on pursuing your financial dream while staying tax-compliant, saving you hours of combing the Internet for information relevant to your situation!
Ep 72:Living Abroad Won't Shake Your State Tax Shadow
This conversation delves into the complexities of state tax obligations for U.S. citizens and green card holders living abroad.
It highlights the common misconceptions about tax liabilities when moving overseas, emphasizing the importance of understanding state-specific rules and planning ahead to avoid unexpected tax bills.
The discussion also covers strategies for cutting ties with states that impose income taxes and the significance of domicile in tax planning, particularly concerning estate taxes. Key Takeaways:
Some states don't let go of tax obligations easily.
Your relationship with your current state affects tax responsibilities.
States look at ties like driver's licenses and voter registrations. California and New York are known for aggressive tax policies.
Double taxation can occur if state taxes are not managed properly.
Establishing residency in a no-income-tax state can be beneficial.
Domicile is different from tax residency and affects estate taxes.
Working with a tax professional is crucial for compliance. Failing to meet state tax obligations can result in penalties and interest.
Meet Your Hosts
Jane Mepham, CFP and
Manasa Nadig, EA
Jane Mepham, CFP®, and Manasa Nadig, EA, are leading experts revolutionizing cross-border financial and tax advice for green card holders, foreign-born U.S. citizens, foreign nationals on work visas, and U.S. expats.
Jane, the founder of Elgon Financial Advisors in Austin, TX, and Manasa, the founder of MN Tax & Business Services in Plymouth, MI, combine their extensive knowledge and personal experiences to provide invaluable insights on the podcast.
Explore their journeys and expertise through their blogs, LinkedIn, Twitter, and Instagram pages.
If you’d like to go beyond the podcast and explore working with us one-on-one
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Take this episode further with our exclusive companion resource. Inside, you’ll find practical tips, tools, and insights designed to help you put what you’ve learned into action right away.