The International Money Café Show

By: The International Money Cafe
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  • Summary

  • Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their multi-country footprint.

    US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.

    In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.

    Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.

    Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.

    The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
    The International Money Cafe
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Episodes
  • Ep 26: What Is English For "PFIC"?

    Ep 26: What Is English For "PFIC"?
    Sep 18 2024
    If a U.S. tax resident is investing offshore (outside the U.S.) - it can very easily complicate their taxes.

    In this episode, we discuss PFICs (Passive Foreign Investment Companies) and the dangers of investing in them.

    We start by defining them with some examples. Then, we discuss the tax compliance requirements and the potential penalties for non-compliance. We also include financial planning considerations like foreign exchange and repatriation.

    We explain why we want to get a detailed idea of any PFICs clients may have when we start working with them on financial planning or tax preparation.

    Most of our clients /prospects are unaware they have PFICs in their overseas portfolio.

    We discuss ways of dealing with them, how to stay compliant or get rid of them, and also mention the particular case of those with work visas - who may want to keep the PFICs in their portfolio.

    It's a fun discussion.

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    The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

    Be sure to join the conversation by visiting our page The International Money Cafe

    Or by following us on social media:-

    Follow us on social media:- LinkedIn; Instagram; Twitter (X); Facebook
    Show more Show less
    14 mins
  • EP 25: Like Manna From The Heavens! What To Do If You Receive a Gift or Inheritance From a Foreign Person?

    EP 25: Like Manna From The Heavens! What To Do If You Receive a Gift or Inheritance From a Foreign Person?
    Sep 4 2024
    If you receive a gift or inheritance from a non-US person, you have specific reporting and tax obligations before enjoying your gift.

    In this solo episode, Manasa details the thresholds, reporting forms, and tax implications based on the type of gift or inheritance.

    Different thresholds apply depending on the type of gift or inheritance, such as $100,000 for gifts from non-US citizens and no threshold for gifts from foreign trusts.

    She discusses some forms, like Form 3520, that may need to be filed to report foreign gifts or inheritances.

    She also points out possible tax consequences that may arise if the gift is from a covered expatriate—it’s not business as usual.

    One thing she points out is to watch out for possible tax obligations in the country where the event occurs – that needs a tax professional (in that country) to figure out.

    Tax treaties may help avoid some possible double taxation.

    Resources

    Ep 22: What Is English For "Covered Expatriate"

    Ep 13: Between A Rock And A Hard Place: A Guide To Mitigating Double Taxation



    ---------------------------------------------------------------------------------
    The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

    Be sure to join the conversation by visiting our page The International Money Cafe

    Or by following us on social media:-

    Follow us on social media:- LinkedIn; Instagram; Twitter (X); Facebook
    Show more Show less
    17 mins
  • Ep 24: What Is English For "F1 Student Visa?"

    Ep 24: What Is English For "F1 Student Visa?"
    Aug 21 2024
    The F1 visa is a non-immigrant student visa that allows international students to pursue academic studies in the US.

    It's vital to the US economy as it attracts talented individuals who often go on to start unique businesses and contribute significantly to the workforce.


    In this shortie episode, we cover the legal definition of the F1 visa, the application process, the duration of stay, employment opportunities, financial considerations, investing, starting a business, tax filing requirements, and treaty provisions, amongst other aspects of the visa.

    Jane moved to the US on an F-1 visa, so this is another one that draws on personal experiences.

    ----------------------------------------------------------------------------------
    The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

    Be sure to join the conversation by visiting our page The International Money Cafe

    Or by following us on social media:-

    Follow us on social media:- LinkedIn; Instagram; Twitter (X); Facebook
    Show more Show less
    12 mins
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