Chad Creveling, CFA and Peggy Creveling, CFA |
The Wall Street Journal invited Creveling & Creveling to be part of a panel of experts for personal finance on its WSJ Expat site. The following article originally appeared on the WSJ site and has been shared with permission. We asked Peggy and Chad Creveling of Asia-based Creveling & Creveling Private Wealth Advisory to help U.S. expats with non-resident alien spouses navigate the U.S. Social Security system. Send your expat finance questions to expat@wsj.com This...
Chad Creveling, CFA and Peggy Creveling, CFA |
This article is for general information purposes only and is not intended as specific tax advice. Please consult your tax advisor for advice relevant to your situation. As 1099 forms from U.S. banks and brokerages roll in, many Americans living overseas are collecting the documents needed to file their 2014 U.S. taxes. Since there are a number of sometimes obscure tax forms that U.S. citizens living overseas are required to file, we've provided an updated...
Chad Creveling, CFA and Peggy Creveling, CFA |
The Wall Street Journal invited Creveling & Creveling to be part of a panel of experts for personal finance on its WSJ Expat site. The following article originally appeared on the WSJ site and has been shared with permission. Singapore is a major magnet for expats, so we asked Peggy and Chad Creveling of Asia-based Creveling & Creveling Private Wealth Advisory, to provide guidance to U .S. expats considering buying rather than renting homes in...
Chad Creveling, CFA and Peggy Creveling, CFA |
This article is for general informational purposes only and is not intended as specific tax advice. Please consult your tax advisor for advice relevant to your situation. With all the additional tax filing forms and reporting requirements that FATCA has brought, for Americans living overseas sometimes merely filing their US tax return seems like achievement enough. Yet, there are real financial benefits for going beyond merely filing tax forms and instead spending some time figuring...
Chad Creveling, CFA and Peggy Creveling, CFA |
By Peggy Creveling, CFA and Chad Creveling, CFA This article is for general information purposes only. Please consult with the U.S. Social Security Administration for the most up-to-date information on your situation. Expat Americans eligible for U.S. Social Security benefits and married to non-U.S. citizens often wonder if their foreign spouses qualify for Social Security survivor benefits (generally the deceased U.S. worker’s full benefit). In certain cases, the answer is yes. Additionally, while the U.S...
While most expat Americans are aware of the Foreign Account Tax Compliance Act (FATCA) and the increased reporting requirements for foreign holdings, many are still unaware of the IRS’s particularly harsh tax treatment of foreign-incorporated investments such as overseas mutual funds and pension plans. As a direct consequence of increased reporting from FATCA, we are also likely to see more rigorous enforcement of the IRS’s Passive Foreign Investment Corporation (PFIC) rules. This article is intended...
Chad Creveling, CFA and Peggy Creveling, CFA |
As the end of the 2012 tax year approaches, expats working in Thailand may wish to consider sheltering some of their income from Thai tax by contributing to Thailand’s Long-Term Equity Funds (LTFs) and Retirement Mutual Funds (RMFs). With a little bit of planning, you can save up to THB 370,000 (or about USD 12,000) this year in Thai taxes by contributing to these tax-advantaged funds. Long-Term Equity Funds and Retirement Mutual Funds: The Basics...
Chad Creveling, CFA and Peggy Creveling, CFA |
“I don’t open U.S. accounts, period,” said Su Shan Tan, head of private banking at Singapore-based DBS―Southeast Asia’s largest lender―in a recent Bloomberg article. This attitude has largely been a reaction to the implementation of FATCA, the IRS’s Foreign Account Tax Compliance Act. Intended to stamp out tax evasion by resident and expatriate Americans holding accounts overseas, FATCA has effectively pushed U.S. tax compliance onto foreign banks by requiring them to identify and report on...
Chad Creveling, CFA and Peggy Creveling, CFA |
By Peggy Creveling, CFA and Chad Creveling, CFA If you work for a Thai company or international school, you may have the opportunity to participate in a company pension plan called a Thai Provident Fund (TPF). Depending on your situation, contributing to a TPF can make a lot of financial sense, not only for Thai citizens, but also for expatriates working in Thailand and subject to Thai income tax. To help you to decide whether...
Chad Creveling, CFA and Peggy Creveling, CFA |
This article is for general informational purposes only and is not intended as specific tax advice. Please consult your tax advisor for advice relevant to your situation. For the many U.S. expats who are high-income earners and therefore effectively shut out from making traditional deductible IRA contributions or Roth contributions, making non-deductible contributions to an IRA may afford a backdoor to a Roth. Contributions to IRAs are subject to the following income limits in 2011...
Chad Creveling, CFA and Peggy Creveling, CFA |
At some point, those of us living overseas may consider investing in one of the many offshore investment schemes that are actively marketed to expatriates. And it’s understandable why—the promotional literature for these plans can be pretty compelling. The sales pitch might go something like this: You have the opportunity to invest in an offshore savings scheme offered by a leading provider of sophisticated financial products in a low-tax offshore jurisdiction with world-class standards of...
Chad Creveling, CFA and Peggy Creveling, CFA |
By Chad Creveling, CFA and Peggy Creveling, CFA A chance to earn significantly higher interest rates on your deposits with the only downside being that you might be converted to a currency you could probably use anyway is pretty appealing, particularly given the paltry yields offered on cash these days. That’s what dual currency deposits promise.