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.
All Episodes
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 52: L-1 Visa - 3 Must-Know Tips For Foreign Execs
We discuss the top three essential financial and tax considerations for foreign executives relocating to the US on an L-1 visa.
We start by defining the different types of L1 visas.
We also cover the implications of US income tax filing, considering the substantial presence test for tax residency, compliance with foreign financial assets, and estate and gift tax considerations.
We emphasize the importance of pre-immigration planning and working with cross-border tax professionals.
Takeaways
L1 visas are for foreign executives and managers.
US tax residents must declare worldwide income.
Timing your arrival affects tax obligations.
Pre-immigration tax planning is crucial.
Foreign financial assets must be reported.
Non-compliance with asset reporting incurs penalties.
Estate and gift tax implications are significant.
Work with professionals on both sides of the border.
Chapters
00:00 Understanding the L1 Visa and Its Implications
02:47 US Income Tax Filing and Compliance for L1 Visa Holders
06:07 Managing Foreign Financial Assets and Compliance
09:00 Estate and Gift Tax Considerations for High Net Worth Individuals
Episode Links & Resources
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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.