Expat Money Newsletter - May 2019

Welcome to the May Expat Money Newsletter.

This month we are focusing on the taxation and reporting requirements of US expats with the automatic extension to 15th June approaching.

We also look at other issues that impact the financial position of expats and with the announcement of the royal birth to the Duchess of Sussex living outside her home country, Axa Global Healthcare have outlined five top considerations for first-time parents living abroad.

We are also planning to produce a new guide to retiring abroad and would welcome your input about your experiences to ensure that it reflects the real experiences and thoughts of those who have already made the move and those planning to enjoy their retirement abroad.

The Expat Network Team

expats@expatnetwork.com

Taxation Of US Expats: The Basics

The basic principle is that Americans living and working abroad are subject to the same tax rules as those who remain in the US. Americans are subject to US income tax on their worldwide income. There are the additional reporting requirements of FATCA and FBAR. Tax returns are due to be filed at the same time (15th April), but when living abroad American expats get an automatic two-month extension to 15th June.

A Step-by-Step Guide to Filing US Expat Taxes Late

Filing US expat taxes late – if you’re behind on your taxes, you aren’t alone. The 2018 US Expat Opinion Survey, which gathered the opinions of over 3,800 expats worldwide, found that nearly 7% of expats were behind on their taxes. Becoming compliant on expat taxes might be easier than you think! As Greenback Expat Tax Services undertake the 2019 survey we look back at their advice on the step-by-step process required to become compliant.

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2019 US Expat Tax Opinion Survey

Unite with fellow expats around the world to share your thoughts on expat taxes, changes to the tax laws, and more with the 2019 US Expat Opinion Survey.

Your feedback helps to bring the unique perspectives and concerns of expats to light so that expat advocates and government leaders can better protect and support the interests of all Americans living and working abroad.

The survey will remain open through May 15th, and as a thank you for sharing your opinions, you'll be entered to win $1,000 Hotels.com gift card.

Take the 5-minute survey here:

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Retiring Abroad – Share Your Thoughts And Experiences

Many who have worked abroad choose to retire in the area where they have worked or choose somewhere they can enjoy the climate when considering where to spend their retirement. We would like to hear from you about your plans for your retirement or your experiences in retirement.

Taxpayer Advocacy Panel – What It Is And Why It Matters

The Taxpayer Advocacy Panel advocates on behalf of US taxpayers to the IRS to identify the issues of importance to them and make recommendations for improving IRS services. Laura Snyder is the only international member of TAP. Here she explains the role and workings of TAP and how taxpayers can contribute.

How To Save Money On Currency Exchange

International payments expose you to exchange rates and getting the best rate can save you money. Specialists Currency Fair explain the impact of exchange rates and how much you can save.

Five Tips For Becoming A Parent Abroad

With the UK celebrating the birth of the Royal baby, Tom Wilkinson of Axa Global Healthcare has been thinking about his own experience of becoming a parent while living abroad. He says it’s an exciting but nerve-wracking time, and when you’re living somewhere new, there can be many unknowns which need navigating before the big day.

Health Insurance: Getting The Best Protection For Your Little Ones

One of the most important responsibilities for moms and dads is to ensure that their child’s physical and mental wellbeing is taken care of. Ensuring that your loved ones have access to the best possible healthcare no matter where you are in the world is, therefore, paramount..

The right family health plan doesn’t just offset your spouse and children’s medical costs, it also gives you the breathing space needed to focus 100% of your energy on your little ones when they need it most. In this article, insurance broker Pacific Prime looks at the most important things to consider when finding coverage for your children.

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Top Savings Rates For Expats – May

The best current offering for sterling offshore savers (with notice period) is Standard Bank’s 1.15%, if you have £10,000 and can give 196 days’ notice of withdrawals.

If you can leave your savings untouched for five years, Conister Bank offer 2.40% annually over this period for a £5,000 minimum.

For dollars, Standard Bank pays 1.65% for $10,000 or more, with 196 days’ notice

Your Free Guide To Living In Spain

Spain is a country rich in heritage with beautiful scenery, bustling cities, wild coastlines and sunny island outposts. No wonder it is the most popular destination for expats planning to retire abroad as well as for people planning to invest in a second home. Whether you are planning to retire, buy a second home, take up a temporary visa to work, set up a business in Spain, there are many issues to address before you go. Make the transition work better with this free-to-download, full-colour guide. Your Guide To Living In Spain provides you with guidance on the issues you will need to address as you plan your move.

Don’t Miss Your Latest Jobs Newsletter

Welcome to Expat Network’s April Jobs newsletter. As well as links to some of the many new job opportunities available at Expat Network, we explore some of the many issues affecting your working life as an expat - or would-be expat.

Remember To Register!

Sign up for free at the Expat Network to enjoy the following benefits: access the latest overseas jobs; get help with writing winning CVs and social media profiles; and upload your CV so that our unique network of recruiters and employers can find you.

You will also find expert answers to the most frequently asked expat questions and receive regular news bulletins on contract awards and other expat news. Registration is free of charge and you can unsubscribe at any time.