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Foreign Earned Income Exclusion:How to earn up to $126,500, tax free, in 2024 AUTHOR LAST UPDATED At Schiff Sovereign, we often discuss how lowering or eliminating your taxes is one of the best investments you can make in your life. Nearly every investment you make carries risk. It could go up, it could
Yesterday I recorded a new podcast with my US-based tax attorney to talk about the Trump administration’s new tax plan… or as I like to call it, the plan to have a plan. Clearly they’re trying to do something positive and significant. But to say that their strategy is light on details at
On October 22, 1986, the world was an entirely different place. The Soviet Union still loomed, as did the threat of nuclear annihilation. Most people had no idea how to use a computer, let alone even heard of the “Internet” (which at the time was still a military communications project.) Hardly anyone had
On the plane ride back to Chile last night, I was sitting next to a particularly chatty woman who wanted to know my whole life story and what I was doing in Mexico. I played along and explained to her that I had been on a cruise for the past week speaking at
In the late in the 5th century BC, the government of ancient Rome came up with a new idea that has lasted for thousands of years. I’m not talking about their roads, republican form of government, or water sanitation. Their bold idea was to start paying retirement benefits to Roman soldiers. This was
My friend Richard got destroyed by the system. As a financial advisor in Sacramento, California, he spent years building a thriving firm and has even landed a few celebrity clients. Richard did well for himself. Successful. Married. Wonderful kids. Financially secure. But back in 2008 things started to turn sour. His wife left
There are two words that kept coming up over and over again over the last 20+ months during the US Presidential circus: “fair share”. Hardly a day went by without hearing that certain taxpayers “need to pay more of their fair share.” It sounds really great, and given the voter statistics, this idea
If you’ve been a reader of this letter for any length of time, you know I hate taxes. I unequivocally believe that I have a moral obligation to reduce my taxes to the lowest level possible. It’s not about Maseratis and private yachts (I drive a Volvo and get seasick easily). I’ve slashed
Ever since I was a kid, I always knew that cancer runs deep in my family. My father died more than a decade ago of a horrible brain tumor. His father had cancer. Both of my mother’s parents died of cancer. I knew all of this before I even understood what cancer was.
Chances are you’ve never heard of Chuck Feeney. And he’s worked very hard to keep it that way. Feeney, who will turn 85 on Saturday, had an incredibly successful business career, amassing a multibillion dollar empire based primarily on duty-free retail shopping. I know what you’re thinking: he already sounds like a bad
I’ll start with a confession. Based on the returns I’ve just prepared for 2015, my tax bill for the year amounts to exactly $0.00. In fact, for the second year in a row, I legitimately owe zero tax. And I’m damn proud of that. (And no, it’s not from any illegal tricks. I’ll
Sometimes you just have to stand in awe at the level of corruption and incompetence in government. Case in point, the new highway bill in the Land of the Free. And, trust me, you’ll love this. The latest version of the highway bill is called the “Developing a Reliable and Innovative Vision for
On June 3, 2010 Joe’s life changed forever when he stepped on an IED in Afghanistan. As a grunt Soldier deployed with the 82nd Airborne, Joe became one of the all too many people to lose a limb and nearly his life fighting in a pointless conflict. I told you a little about
On August 5, 1861, facing rapidly deteriorating economic conditions and a horrible defeat at Bull Run, President Abraham Lincoln signed the Revenue Act of 1861 into law. It was the first time in US history that the federal government would charge an income tax on its citizens. But Lincoln felt that it was
Puerto Rico Tax Incentives:Ultimate Guide & My Personal Experience With Act 20 & Act 22 AUTHOR LAST UPDATED When I wake up and see the ocean in front of me, I have to pinch myself. Here I am, living in a beautiful place that’s part of the United States… yet I pay ZERO
