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We're The Brits In America
A podcast dedicated to helping ambitious expatriates and first generation immigrants thrive in America.
𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 is brought to you by Plan First Wealth, a lifestyle financial planning and cross-border wealth management firm helping successful American and international families make the most of their opportunity.
Being an immigrant to America should be a wonderful, life-changing opportunity. But it can also be extremely challenging, accompanied by some unique and idiosyncratic rules and regulations.
Our mission & purpose is to help fellow expats and immigrants thrive in America.
We believe that this can be achieved, in large part, by avoiding the expat landmines that can trip them up and by taking advantage of all available opportunities.
𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 consists of 3 different show formats:
𝘼𝙨𝙠 𝘼𝙣 𝙀𝙭𝙥𝙚𝙧𝙩 will tap into host Richard Taylor's network and bring subject matter experts - professionals in the cross-border advisory space - on to highlight some of the challenges and also opportunities that accompany being an expatriate in the US.
𝙁𝙧𝙤𝙢 𝙏𝙝𝙚 𝙏𝙧𝙚𝙣𝙘𝙝𝙚𝙨 where Richard and colleague James Boyle will bring you their take on what's going on in the world, in their business and in their lives.
𝘼𝙡𝙬𝙖𝙮𝙨 𝘼𝙣 𝙀𝙭𝙥𝙖𝙩 is a show where we bring in an interesting expat to talk about their experience moving to and living in America.
We're The Brits In America is affiliated with Plan First Wealth LLC, an SEC-registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
The information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.
Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
We're The Brits In America
49. Everything You Need To Know About Tax Compliance – From An IRS Veteran | Ask An Expert with Dan Price
“The US system of tax reporting and FBAR reporting is exceedingly complex, and materially differs from the reporting requirements in most other countries in the Western world.” So says Dan Price, my guest on this week’s Ask An Expert show. That’s why there’s a high chance of non-compliance if you’re an expat in the US, and why you need to hear this week’s episode.
Dan is a distinguished tax attorney, two years into running his own firm but with almost 20 years of experience at the IRS Office of Chief Counsel. While there he established programs designed to aid individuals in becoming tax compliant, and covered both criminal and civil IRS audits. He knows his stuff, so it’s a privilege to have him on the show to take us behind the scenes at the IRS and give you expert advice on staying tax compliant.
We talk about:
· The cost of compliance for middle-class tax payers. What qualifies as middle-class? And what are the costs of being in non-compliance? Hint: they’re significant.
· How to streamline your filing with the IRS. As Dan explains, there are myriad systems and procedures in place to catch wilful non-compliance. You can’t beat the algorithm, so don’t try.
· The difference between true ignorance, or wilful blindness, and knowingly ignoring tax obligations.
if you're an expat or an immigrant and you came here mid-career, there's a very good chance you're in some form of non-compliance. Don't bury your head in the sand. It's very possible the IRS already has information about you and it might one day catch up with you. There are solutions, palatable solutions, as you’ll hear in this episode.
For more information on Daniel N Price LLC, visit pricetaxlaw.com
We're the Brits in America is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.