Tuesdays With Morey - Tax Tips®

Morey and Macarena join forces again today to discuss the penalties of not paying your US taxes. They warn that even if you have an accountant or tax preparer it doesn’t mean he or she is versed in how to report international accounts or foreign corporations. Some accountants aren’t even aware of the additional forms required by the IRS when a US citizen has an offshore account. Be prepared and plan your financial future with a team who understands your expat lifestyle. Call Glazer Financial today.   Key Takeaways: [:48] How do you know if you are legally paying all of your US taxes? [1:26] If you have a foreign corporation, you need to file two separate tax forms. [3:19] Morey Glazer is always available to answer your financial and tax related questions. [3:51] The IRS may impose tax penalties in amounts far greater than the original tax. [4:40] In Belize, you need to bring in $2000.00 a month to be a residence. [5:52] If you sell an international company, you should be prepared to pay US taxes on your stock