Morey and Macarena stress the importance of tax compliance during today’s podcast. They discuss the little details of offshore accounts and offshore corporations some accountants and lawyers may not deem important. Morey reminds us the IRS is smarter than taxpayers think, and even though you haven’t filed for 5 or 6 years it doesn’t mean they are not aware of your status. They just might be hot on your trail. Morey and his team at Glazer Financial keep up-to-date on all of the changes in tax liabilities and international tax requirements so you don’t have to.

Key Takeaways:

[1:40] Introducing Teresa, Glazer Financial’s international expert.

[3:45] US citizens must file income taxes every year with the IRS, no matter where they live.

[5:37] Annual taxes may apply even if you are only receiving Social Security payments.

[7:30] FACTA rules have locked US citizens in. IRS agents have systems in place to look at your return records.

[9:11] You must have a plan to get current on your taxes and prepare for your financial future.

[9:59] No one knows what the IRS will do in the future to collect taxes.

[10:26] Many accountants are not aware of the requirements for offshore corporations or offshore accounts.

[12:58] Practice vigilance and be suspect of any account or lawyer who tells you not to worry about filing US tax returns.

[15:56] If you haven’t filed your taxes you need to become current before the IRS does.

[16:31] IRS news release — A New Focus on Tax Professionals

[18:38] Before you set up a foreign trust, check with the IRS to see what tax implications apply.

[19:30] Buying real estate through your IRA offers a significant tax deferment.

[21:23] Remember — Tax evasion is punishable by law.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

Rainforest Realty

When people are young, they take very little time to consider their financial future. With the help of a certified financial planner, people can make sure they live the life they want today, while preparing for their future needs. Morey and Macarena share best tips and practices for making the most of a retirement savings account including how to purchase international real estate, investment income properties and how to find a lifestyle plan that fits your life.

Key Takeaways:

[2:46] Lifestyle planning is thinking about your financial future, so you can live.

[5:33] Can you use your IRA to buy real estate?

[6:54] The IRS looks unfavorably at people running their businesses from IRA’s.

[7:46] What is the proper amount of depreciation a person can take on my SUV?

[9:14] Borrowing money from a retirement plan for additional savings on a vehicle.

[9:54] Macarena is an expert at offshore real estate.

[10:58] Buying real estate from a retirement plan can be a great investment.

[14:08] Take care not to become partners with your IRA. It’s unlawful.

[16:28] If you partner with your spouse you are able to borrow double the amount from your retirement account.

[18:35] Am I able to live in or visit my investment property? 

[20:57] Morey offers a free initial consultation.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

Rainforest Realty

Planning for your retirement can be time-consuming and difficult if you are not an expert on the savings plans available. There are 401(k) plans, profit sharing plans, IRAs and others. The trick is to understand the requirements and benefits each plan offers. Some will allow you to borrow money from yourself to buy cars or international real estate. The loan will be with yourself and you pay yourself back the interest and your taxes are lower. In order to realize the benefits of retirement plans, you must sign up by the end of the current tax year which is December 31, 2016. Don’t delay, save money today.

Key Takeaways:

[1:17] Planning for your retirement before the end of the year.

[2:30] 401(k) profit sharing plans allow for savings up to 25% of annual compensation.

[4:15] There are many different savings vehicles to consider when planning for your retirement.

[7:19] Combination plans offer diversity for your investments.

[9:30] Retirement plan accounts must be open prior to December 31, 2016.

[10:10] You can borrow money from your 401(k) account to buy properties.

[13:23] It doesn’t matter if you have bad credit because you are giving the loan to yourself.

[14:21] Planning can help you avoid paying the highest tax rates.

[17:16] Will tax rates be lower in 2017?

[18:05] Increasing your net worth is the goal of financial planning.

[19:57] Morey is working on an international radio series.

[21:00] The stock market has been inflated up to 300%.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

Rainforest Realty

On this week’s episode, Morey takes time away from his busy schedule to share the latest updates on changes to the U.S. tax code. He’s joined by Macarena Rose, an international real estate expert located in Belize. At the same time, the team at the Glazer Financial office is busy preparing taxes, making corrections and working with the IRS to maximize savings for clients. The team is able to provide detailed feedback on bankruptcy cases, instances where another tax preparer has made mistakes and even help if you have failed to file your past taxes.

Key Takeaways:

[1:44] Morey presents new ways to protect your personal assets.

[5:30] People want to do their own taxes but don’t consider how they will handle an audit.

[6:47] A tax specialist has the tools most taxpayers aren’t aware of.

[8:14] Glazer Financial can review your tax returns and let you know up front what it will cost to complete the tax forms.

[13:11] Be sure to enquire on the qualifications of your tax preparer.

[16:43] Glazer Financial ensures the accuracy of your returns through several levels of reviews.   

[17:22] Bankruptcy cases can be difficult for non-professionals to sift through.

[19:04] The IRS hides changes in larger bills but Morey keeps up on the latest changes.

[23:05] It’s important for corporations to file their forms by the deadline in October.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

Rainforest Realty

In this episode, Morey and Macarena stress the importance of financial planning and preparing for your retirement. Morey shares a real life example of a 70-year-old family member who was talked into using his IRA to purchase a piece of property. The family member did not consult with Morey until after the deed was done and now wonders if his decision was a good one. Morey and Macarena stress the importance of vetting anyone who wants some of your money, and always contact Glazer Financial before making any financial or tax-related plans.

Key Takeaways:

[0:49] Planning to plan is important. Here is an example of someone who didn’t.

[4:35] Before investing your retirement plan into real estate, check with your financial advisor!

[6:12] Make sure you have a monthly income when you retire.

[7:17] Real estate is a gamble just like every other investment.

[9:20] It is imperative you file your tax returns even if you don’t owe any tax.

[12:57] Glazer Financial examines 2 years of past tax returns at no charge.

[13:31] It’s time to do your financial planning for 2016.

[16:48] Glazer Financial can also help with retirement planning.

[18:33] Online research makes vetting your financial representative easy.

[20:20] Contact Morey or Macarena with any questions you may have.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

In this episode, Morey and Macarena discuss Obamacare, FACTA and the importance of financial planning. Many insurance companies in the U.S. are refusing to foot the bill for the millions of unemployed and impoverished citizens who are currently under Obamacare coverage. They have decided to allow the government to bear the burden by way of increasing taxes. Penalties by the IRS are making this a damned if you do and damned if you don’t vicious cycle. The only way you can be prepared for the upcoming changes is to allow the professionals at Glazer Financial to take the reigns of your financial future.

Key Takeaways:

[0:55] Visitors to foreign countries are finding it increasingly difficult to retrieve their money from the U.S.

[3:05] Obamacare doesn’t really offer the impoverished proper insurance and it affects income tax.

[6:37] The U.S. government will fine business owners who don’t supply health insurance to employees.

[8:46] The political parties are considering a single pay system.

[11:05] Insurance companies are refusing to supplement Obamacare.

[13:31] Insurance companies make a lot of money on products other than healthcare policies.

[17:17] Citizens are often powerless against the government machine.

[17:38] Changes in the Highway Bill affect tax due dates.

[19:28] Financial planning is the only way to keep ahead of the fines and the taxes.

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: [email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: [email protected]

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

Tuesday Tax Tips with Morey is back, with Morey and Macarena discussing the possibility of a seminar in Mexico and a series of online seminars designed to help expatriates stay compliant and avoid IRS late fees and penalties. In fact, Glazer Financial has been a leader in reducing expat penalties and even eliminating tax penalties for their clients. Contact Macarena with your international real estate inquiries or contact Morey to assist you in planning for your financial future.

Key Takeaways:

[1:18] U.S. tax compliance issues for people moving offshore.

[4:16] A client in Hong Kong must show where his money came from - even if it is just a dividend on a savings account.

[5:50] Tax due dates have been changed. The changes were hidden in a highway bill.

[7:23] There are different individual forms for offshore accounts and assets, including offshore corporations.

[8:00] Glazer Financial has been successful in getting rid of penalties or agreeing to a highly reduced amount.

[10:27] Some people leave the U.S. and give up their citizenship.

[11:32] Will the IRS do away with the Voluntary Disclosure forms?

[14:08] Taxes, international real estate and Mexico make a good combination.

[16:50] Glazer and Macarena may start a series of educational events.

[19:21] How did the IRS hide a 3.8% tax increase in Obamacare?

Mentioned in This Episode:

Glazer Financial Network

[email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

[email protected]

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

August 14, 2016, has been slated as the official date of our Tax Tips with Morey, conference in Dallas, Texas. This is the place for you to bring your questions about the legal issues, tax requirements and compliance for Morey to answer directly. Many of our listeners have similar issues so what better way than a face-to-face conference to get everything out in the open. Macarena will be flying in from Belize to offer resources on offshore real estate opportunities. Contact us using the information below to secure your spot!

Key Takeaways:

[1:03] Morey must pay attention to tax changes because they happen every 30 seconds.

[4:04] Free legal, tax and real estate advice at the seminar on August 14th in Dallas.

[7:49] There are key things to know about moving offshore so you stay in compliance.

[10:03] Bringing a group of people together will help the group as a whole to avoid mistakes.

[10:35] You must prove your income annually with the IRS or they can take your passport.

[14:19] Morey & Macarena work with many different people, so they are able to inform you what works and what does not work.

Mentioned in This Episode:

Glazer Financial Network

[email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

[email protected]

MacarenaRose.com

800-999-8931

469-358-2818

727-565-1507

Morey and Macarena join forces again on this episode to help U.S. citizens stay legal no matter where they reside. Morey warns of fraudulent calls and emails from people falsely claiming to be the IRS, what correspondence from the IRS really looks like and how Glazer Financial can take some of the burden off you at tax time. If you like our podcast you will love our Tax Tips with Morey Live event in Dallas, Texas this August. Listen in to find out more.

Key Takeaways:

[1:24] What should people do if the IRS contacts them via telephone or email?

[6:09] Possible problems you can run into when dealing with the IRS.

[9:25] In order to avoid interruptions in daily life stay current with your taxes.

[10:53] Glazer Financial can resolve tax issues so clients do not have to be involved.

[13:06] The Financial Disclosure Act is influencing other countries to look more closely at expatriate taxes.

[17:44] The August 13th seminar in Dallas, Texas will feature planning advice from Morey.

Mentioned in This Episode:

Glazer Financial Network

[email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

[email protected]

MacarenaRose.com

800-999-8931

469-358-2818

Many expats are unaware of the IRS requirement of filling out a Foreign Bank Account Regulation form (FBAR) during tax time. Not understanding the requirement does not make a tax payer immune to the penalties, taxes and interests that commonly follow when the IRS figures out an expat did not file. Proper planning with an accountant who is up-to-date on current tax laws can be an expat’s best defense against large, unnecessary penalties. The savings can be used to purchase additional tax-deferred assets like real estate.   

Key Takeaways:

[1:11] How serious are the penalties if I fail to file the Foreign Bank Account Regulation (FBAR) document?

[3:08] FACTA regulations are making it difficult for expatriates to open bank accounts in foreign countries.

[6:20] Buying gold and silver will not make a taxpayer immune to paying the appropriate tax on the value.

[7:27] It’s much less to pay $200 to file the FBAR compared to the $10,000 IRS penalty. 

[11:12] Morey’s goal is to get everyone the information so tax penalties and interest can be eliminated.

[14:57] Long-term employees prove that Glazer Financial will be around for your future.

[18:03] There are a lot of tax advantages in buying real estate.

Mentioned in This Episode:

Glazer Financial Network

[email protected]

Tuesdays with Morey on Facebook

Expat Tax Expert

[email protected]

MacarenaRose.com

800-999-8931

469-358-2818