This episode talks about one of the biggest issues for expats which is tax payments. Grace discussed the process circulating taxes for location independent businesses and the things that grant tax exclusions. She gives an overview of how taxes work for digital nomads residing abroad. Listen to find out when and why you should reach out to an accountant and discuss your financial activities.
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Episode 177 Show Notes
TLAB 11 - Income Tax Q&A, Tricks, Tips and Hacks with David McKeegan
TLAB 161 - How to Legally Pay ZERO Income Tax
ILAB 64 – Trading Options Full Time: $0 – $100K Annually with Kirk Du Plessis
1:23 – Easiest country to pay taxes
2:56 – How she helps expats
9:01 – What is Foreign Earned Income Exclusion (FEIE)?
11:35 – The downside in switching accounts
15:38 – One business with several income sources
16:43 – Considerations in starting a business
20:30 – Tax exclusions
25:33 – Choosing an accountant
31:26 – Tax Estimation
32:45 – How to make it easier for your accountant
35:11 – Legal forms relative to income
36:27 – What happens when you forget to report an income?
39:15 – Difference between an American and non-American taxpayer
41:57 – Who should reach out to a tax expert?
43:41 – Why does options trading complicate things?
45:22 – Other things that complicate taxes
47:13 – Action Plan
50:17 – Is Credit Card Statement enough?
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