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Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their...
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Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their multi-country footprint.
US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.
In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.
Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.
Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.
The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
show less
US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.
In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.
Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.
Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.
The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
15 NOV 2024 · The 2024 elections are behind us. In this episode, we discuss the aftermath of the US elections, focusing on the concerns of foreign-born clients and US expats.
We explore the uncertainties surrounding immigration laws, visa changes, and the emotional impact of the election results.
Our conversation emphasizes the importance of financial preparedness, including maintaining an emergency fund, being flexible with career plans, and ensuring proper estate planning.
We include practical advice for navigating potential job loss and the complexities of financial planning in uncertain times.
We remind you to lock your credit to protect your identity, especially if you have to leave the U.S.
Episode Links & Resources
- https://www.theimcafe.com/podcast/29-stay-a-step-ahead-of-cyber-criminals-protecting-your-id-and-other-important-matters
- https://www.uscis.gov/
- https://www.theimcafe.com/ - Scroll to the bottom of the page.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
13 NOV 2024 · In this solo episode, Jane Mepham discusses the five questions she asks to create the financial planning framework for foreign-born families.
Each question has many nuances and determines which way we go with the plan.
Jane believes any foreign-born individual should ask themselves these questions as part of the settling process in the US. Money is tied to all aspects of our lives.
- What's your Immigration status?
- What's tax residency status
- What are your long-term residency status?
- What's your home country of citizenship, what other citizenships do you have, and if married, what's your spouse's citizenship?
- What assets do you have in foreign countries?
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
30 OCT 2024 · Yeah, it's not green anymore, but the name has persisted.
Do you know why the Permanent Residency Card is called the Green Card?
We answer this question and provide many more details about this "magic" document, which permits you to live and work permanently in the US if you are foreign-born.
We know quite a bit about it, having previously held this card.
We discuss the tax obligations and financial planning implications of being a green cardholder rather than a US citizen.
It's challenging to get, based on your home country, but once you get it, you must be careful if you want to abandon it to do it right.
Are you a green card holder? What questions do you have?
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
16 OCT 2024 · Assume that your information is already out there. Your goal is to ensure that nobody misuses your data.
In this episode, we discuss the importance of protecting yourself from identity theft.
We provide practical steps and tips for safeguarding your personal information and financial accounts.
Key takeaways
- Place fraud alerts on your credit and consider extended fraud alerts if your identity has already been stolen.
- Place a credit freeze on your credit to prevent new accounts from being opened in your name.
- Use a password manager to generate strong, unique passwords for each account.
- Enable two-factor authentication on all your financial accounts.
- Create a separate email address for your financial accounts, and be cautious of suspicious emails.
- Monitor your account activities regularly and set up alerts for any unusual transactions.
- Create a social security account to monitor your earnings and prevent unauthorized access.
- Create an IP PIN with the IRS to prevent fraudulent tax filings using your social security number.
Take proactive steps to protect your identity before leaving the country.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
9 OCT 2024 · In this episode, we discuss the various health insurance options available during open enrollment.
We break down all the different insurance plans - including PPO, HMO, EPO, and HDHP plans.
We discuss the differences in premiums and coverage and the benefits of flexible spending accounts (FSA) and health savings accounts (HSA).
The conversation also touches on the implications of Medicare for those over 65 and considerations for ex-pats and retirees living abroad who are considering the HSA plan.
It's important to check with your provider about using the HSAs abroad.
It's essential to consider your length of stay in the US when choosing an HSA.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
2 OCT 2024 · Cue the Confetti.
Today, we celebrate a huge milestone - a year since we started this journey.
What started as a coffee chat has become a one-year podcast, and there are plans to do more.
In this special episode, we look back on our beginnings, lessons learned, and things we've learned about each other, appreciate those who've been with us on the journey, and plan for the future.
Please tune in to find out what we have in store for you and our big, hairy, audacious goal and vision for the International Money Cafe Podcast.
Let's celebrate!
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
18 SEP 2024 · If a U.S. tax resident is investing offshore (outside the U.S.) - it can very easily complicate their taxes.
In this episode, we discuss PFICs (Passive Foreign Investment Companies) and the dangers of investing in them.
We start by defining them with some examples. Then, we discuss the tax compliance requirements and the potential penalties for non-compliance. We also include financial planning considerations like foreign exchange and repatriation.
We explain why we want to get a detailed idea of any PFICs clients may have when we start working with them on financial planning or tax preparation.
Most of our clients /prospects are unaware they have PFICs in their overseas portfolio.
We discuss ways of dealing with them, how to stay compliant or get rid of them, and also mention the particular case of those with work visas - who may want to keep the PFICs in their portfolio.
It's a fun discussion.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
4 SEP 2024 · If you receive a gift or inheritance from a non-US person, you have specific reporting and tax obligations before enjoying your gift.
In this solo episode, Manasa details the thresholds, reporting forms, and tax implications based on the type of gift or inheritance.
Different thresholds apply depending on the type of gift or inheritance, such as $100,000 for gifts from non-US citizens and no threshold for gifts from foreign trusts.
She discusses some forms, like Form 3520, that may need to be filed to report foreign gifts or inheritances.
She also points out possible tax consequences that may arise if the gift is from a covered expatriate—it’s not business as usual.
One thing she points out is to watch out for possible tax obligations in the country where the event occurs – that needs a tax professional (in that country) to figure out.
Tax treaties may help avoid some possible double taxation.
Resources
https://www.theimcafe.com/podcast/ep-22-what-is-english-for-covered-expatriate
https://www.theimcafe.com/podcast/13-between-a-rock-a-hard-place-a-quick-guide-to-mitigating-double-taxation-mr7cd-jghje
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
21 AUG 2024 · The F1 visa is a non-immigrant student visa that allows international students to pursue academic studies in the US.
It's vital to the US economy as it attracts talented individuals who often go on to start unique businesses and contribute significantly to the workforce.
In this shortie episode, we cover the legal definition of the F1 visa, the application process, the duration of stay, employment opportunities, financial considerations, investing, starting a business, tax filing requirements, and treaty provisions, amongst other aspects of the visa.
Jane moved to the US on an F-1 visa, so this is another one that draws on personal experiences.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
7 AUG 2024 · Millions of Americans live overseas and are currently receiving social security.
In this episode, we discuss the eligibility criteria and process for receiving social security benefits as a US citizen living abroad.
We cover topics such as the 10-year work requirement, how to apply for benefits from abroad, and the taxation of social security income.
We also mention the importance of totalization agreements and tax treaties in determining how benefits are taxed.
We emphasize the need for careful planning and consulting with professionals when considering social security benefits while living abroad.
---------------------------------------------------------------------------------
The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page https://www.theimcafe.com/
Or by following us on social media:-
Follow us on social media:- https://www.linkedin.com/company/the-international-money-cafe-podcast/; https://www.instagram.com/theinternationalmoneycafe/; https://twitter.com/TheImCafe_Pod; https://www.facebook.com/theinternationalmoneycafe
Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their...
show more
Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their multi-country footprint.
US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.
In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.
Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.
Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.
The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
show less
US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.
In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.
Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.
Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.
The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Information
| Author | The International Money Cafe |
| Organization | MANASA NADIG |
| Categories | Investing , Business News , Courses |
| Website | www.theimcafe.com |
| hello@theimcafe.com |
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