Can You Claim These Deductions and Credits for Americans Overseas?

When it comes to figuring out U.S. taxes, there’s no one I trust more than Nick Hodges. That’s why, whenever I have a question about anything tax-related that you need to know about, I turn to him for a clear, concise, easy-to-understand explanation.

His credentials are impressive—he has more professional qualifications than you can shake a stick at: CPA/PFS, MBA, and CFP. And, for more than two decades, he’s been helping people, just like you, who are thinking of or planning a move overseas, to organize their finances…mitigate taxes—freeing up thousands of dollars for them to enjoy their new lives…and to ensure that they are completely tax-compliant (thus helping them to avoid costly penalties of $10,000 and up).

So when I heard that he had updated his bestselling and detailed tax guide, called Expat Taxes Made Easy, I was eager to read it. It contains 380 pages of in-depth tax information…the sort of information that could help you slash your tax bill by literally thousands of dollars.

There’s too much information for me to detail it all here, but a few surprising things really caught my eye.

  • In it, I learned that living and working overseas could qualify you for some hefty deductions and credits. Did you know, for example, that you could exclude/deduct up to $97,600 of income earned overseas in 2013 (that rises to $99,200 for 2014)?
  • Nick explains in his book how you could also avoid paying massive state taxes, just by choosing carefully what U.S. state you leave from. (There are currently seven states that are income tax-free states.) Want to know how to do that? Nick will show you what you need to do.
  • There’s a whole chapter dedicated to owning and selling foreign property, including how to buy foreign real estate in your self-directed IRA. Nick even goes into detail about your tax obligations should you choose to rent out any foreign property you buy.
  • I must admit, though, one of the most helpful chapters, for me, was the one that explained the tax regulations of some of the most popular countries on our beat. Interested in living in or retiring to Costa Rica, Panama, Ecuador, Ireland, France, Italy, Spain, Mexico, or Uruguay? Nick gives you the lowdown on all of those countries. You’ll get details on everything from property tax, inheritance tax, capital gains tax, and more.

No matter what you plan on doing when you live overseas—whether you plan to retire fully…work to supplement your Social Security…or dream of running your own business—make sure to ask for your copy of Expat Taxes Made Easy.

I can assure you, it’s a sensible investment if you’re serious about protecting your finances. Not only might it save you thousands of dollars in taxes and help you to avoid harsh and costly IRS penalties you weren’t aware of, it’s available right now with 50% off the usual sticker price. But only until the end of today. Get more details here.

Editor’s Note: Get more expat advice on second citizenship, banking privacy and offshore investing in our offshore section

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