In this conversation, we explore the unique challenges faced by individuals living and working in the U.S. on work visas, with a particular focus on the complexities of leaving the U.S. while ensuring that their financial, legal, and personal interests are protected.

We discuss various strategies for managing financial obligations, ensuring legal compliance, protecting assets, and addressing family considerations, emphasizing the importance of careful planning and adaptation in navigating this transitional phase. 

Ultimately, we introduce a unique resource that we have created to support you on your journey. The Complete US Departure Checklist For Those On Work Visas

Takeaways 

• Leaving on a work visa presents unique challenges. 

• Tax obligations can be complex for those with international ties.

• Leaving the U.S. requires careful planning to protect interests. 

• Understanding retirement account options is essential when leaving

• Legal compliance is necessary to avoid future complications. 

• Asset protection strategies are vital for real estate and investments.

• Family considerations are key.

• Effective timeline management is crucial for a seamless transition.

• Building a meaningful life can be achieved anywhere, despite the challenges it presents.

Chapters  

• 00:00 Navigating Life on a Work Visa

• 04:56 Challenges of Leaving the U.S. on a Work Visa

• 10:09 Financial Exit Strategies

• 15:11 Legal and Administrative Considerations

• 19:35 Asset Protection and Estate Planning  

Episode Links and Resources

• Michael Kitces - Navigating Challenges When Investing For Work visa Holders

• Ep 18: What Is English For US Situs Assets?

• Recovering From A Layoff On A Work Visa: Action Plan

The IM Café Finance / Tax Roastery  (Store) Is Live


Grab  "the Comprehensive Checklist for Foreign Nationals on Work Visas Leaving the U.S." currently on sale, to celebrate our 50th episode.

If you'd like to work with us on your finances or taxes, check out the process 

Do you understand the importance of conducting a mid-year financial check-in, especially for those with cross-border financial needs?

We cover various topics, including tax strategies, estate planning, insurance assessments, and preparations for college and travel that can be reviewed over the summer. We emphasize the importance of proactive financial management during the summer months, ensuring listeners are well-prepared for the remainder of the year.


Takeaways  -  Things you can do mid-year as part of your summer financial check-up

• Engaging with tax advisors in the summer is likely to yield better results.

• Charitable giving can provide tax deductions during the summer.

• Tax loss harvesting is a strategy to reduce taxable income.

• Estate planning is crucial before traveling overseas.

• College-bound kids need financial and medical powers of attorney. 

• Insurance policies should be reviewed regularly for savings.

• Emergency funds should be assessed and adjusted as needed.

• Consult with immigration lawyers for visa holders.

• Review and adjust financial plans.    

Chapters

• 00:00 Mid-Year Financial Check-In

• 12:08 Estate Planning Essentials

• 19:45 Insurance and Risk Management

• 23:57 Preparing for College and Travel

• 25:54 Final Thoughts and Summer Financial Tips

Episode Links & Resources

• Are you Tax-compliant With Your Overseas Assets? - Free Guide - Scroll to the bottom of the page.

• Tax-Loss Harvesting: How To Boost Your Portfolio Gains.

• Ten Tips On How To Pick A Tax Preparer

If you'd like to work with us on your finances or taxes, check out the process