The IRS is warning US expats with large tax debts that their passports are subject to be revoked as soon as this month, jeopardizing their ability to work and live overseas. The agency in July began sending letters to some indebted taxpayers saying it will ask the US State Department to revoke their passports. Under […]
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Beacon Financial Education aims to help expats organise their personal finances and educate them on retirement plans, personal lifestyle planning and wealth management. Making the switch to live and work abroad is an exciting time in your life. To make your experience abroad smooth and successful – from a financial and personal standpoint – it’s […]
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Does FATCA affect you? If you’re an American, then you’ve probably heard of FATCA. FATCA stands for the Foreign Account Tax Compliance Act and became law in 2010. Many expats incorrectly believe that FATCA is the law that requires them to report and pay U.S. taxes on their income. This is not the case; expats […]
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Moving abroad brings with it a long and complicated list of challenges. But financial ones are the most important to get right. What, for example, can an American expat do with their 401(k) retirement plan? Thankfully, there are some options. The 401(k) is a staple of the average American’s retirement plan. Money set aside under […]
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