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 66: Before You Expatriate, Understand The Exit Tax
This conversation delves into the complexities of the exit tax that individuals may face when expatriating from the U.S.
The decision to expatriate is not one to be taken easily. We discuss who is liable for the exit tax, how it is calculated, and the ongoing tax obligations that may persist even after leaving the country.
We also explore various planning considerations to mitigate the impact of the exit tax, emphasizing the importance of careful planning and timing in the expatriation process.
Key Takeaways
An exit tax is imposed when one expatriates from the U.S.
Covered expatriates must meet specific criteria to be liable for the exit tax.
The exit tax calculation is based on various asset types and their locations.
Post-expatriation, individuals may still owe U.S. taxes on certain income.
The timing of expatriation can significantly affect tax liabilities.
Asset transfers and gifting can help mitigate the impact of an exit tax.
Retirement accounts may be subject to high taxes for non-resident aliens.
Trust and estate planning are crucial for expatriates.
Treaty considerations can influence exit tax obligations.
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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