Americans, including many of our clients, are increasingly concerned about the affordability of American life. While incomes are up, so are taxes and living costs in America. With housing, college, and living costs constantly going up, how do you afford it all?
Unfortunately, rising costs also make it harder for Americans to save money. Taxes and the rising cost of living are the greatest threats to your financial security. Many Americans spend nearly every dime they earn on taxes and essential living expenses.
Cost of Living Savings Reaching $20-40K yearly.
There are more savings beyond taxes to be had, as American expats can substantially lower their everyday ‘cost of living.’ Your daily living expenses abroad can often be one-half or less of what you paid back in the US.
Depending on your current US location, you can reduce your annual cost of living by tens of thousands more each year by going international. Also, in many places abroad, the price of homes is substantially lower than in the USA.
The combination of higher ‘take-home pay’ (lower taxes) and a reduced cost of living is a powerful investment. This money-smart and lifestyle-enhancing strategy can create hundreds of thousands of additional dollars in only a few short years abroad.
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We help you navigate the complexities of US tax laws, as there are little-known IRS rules and reporting requirements when you ‘go international.’ You face penalties—sometimes quite hefty—as well as losing your beneficial tax-breaks for not complying with these little-known regulations. Do yourself a favor and get your own professional plan in place from our experienced international tax strategists.
Copyright Tax Strategy One 2018-2023