IL Magazine: Discover the World's Best Retirement Haven for 2023 + 15 more
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More and more, U.S. citizens are taking advantage of opportunities to purchase overseas vacation homes, investment properties, and places to settle in retirement. And while the thrill of finding that coastal hacienda where you can bury your feet in the sand is intoxicating, it’s just as vital to understand the practical implications of your purchase.
I expected a lot of new experiences in my life when I moved from the U.S. to Mexico in 2018. I looked forward to meeting new people, discovering a new culture, and learning a new language. As a former Internal Revenue Service (IRS) attorney, however, one thing I didn’t anticipate was the number of U.S. expats I would meet who neglected to file their U.S. tax return.
One of the biggest questions that many older workers face when embarking on an international remote working or digital nomad lifestyle, is what to do with their single most valuable asset: their home.
The beaches in the Central American country of Guatemala are not as well known for their beauty as those of its neighbors. Its Pacific coast is rugged, with a definite rustic charm, but lacks infrastructure. On the other side of the country, Guatemala’s small frontage on the Caribbean Sea is treasured as...
If you are a U.S. citizen who lives outside the United States, you have the right to vote in all federal elections for president and members of Congress no matter how long you have lived abroad, whether you maintain a residence in the U.S., or whether you ever intend to return to the U.S.
Many self-employed U.S. citizens who live and work abroad can take advantage of the foreign earned income exclusion (FEIE) to exclude up to $105,900 from income tax in their 2019 report. While this is a valuable tax-savings provision, many do not know that, even if they qualify to exclude income under...