Tuesdays With Morey - Tax Tips®

Today Morey and Macarena are both in Belize discussing the importance of planning, tax compliance and moving offshore. Stressing the importance of planning, Morey says that “even successful people make mistakes in dealing with offshore tax compliance. It’s because the rules are changing all the time. The IRS wants every dime they are owed.” If you have moved offshore or are planning a move, the best thing you can do is call or email Morey because his team will take care of the boring details while you live out your dreams!   Key Takeaways: [1:27] Many people move offshore without thinking about their tax compliance.  [4:14] The U.S. Government has access to most of the offshore banks which are popular expat destinations. [7:25] There is a civil penalty of $10,000 for not advising the IRS of a foreign bank account. [8:56] People are very excited to move to a foreign country but they need to make planning a priority. [10:10] Morey is accessible and flexible on the cost of initial consultations because he works