Reid Kopald
Articles
Same-Sex Marriages and Social Security
The unprecedented Supreme Court ruling on the Defense of Marriage Act that gave same-sex married couples the same rights to benefits as opposite-sex married couples left some confusion about how same-sex couples living in a state in which gay marriage was not allowed would be affected – especially when it came to Social Security benefits.<...
IRAs and Roth IRAs for the Americans Living Abroad
Traditional Ira vs Roth Ira for the Americans Living Abroad This is a guest post by David Kuenzi. David is the Founding Partner of Thun Financial Advisors, a US based investment management firm working with American expats worldwide. You can find more information at their web site: ...
FATCA Implications for Australian Superannuation Plans
As we have discussed elsewhere, the Foreign Account Tax Compliance Act (FATCA) takes effect July 1. Part of the IRS effort to enforce the taxation of offshore assets held by U.S. taxpayers, the law imposes new and more stringent reporting requirements on foreign financial institutions. All taxpayers—including resident aliens (those holding ...
Know the Tax Implications of Foreign Investing
When it comes to investing, there is diversification, and then there is diversification. The U.S. financial markets are rich enough that it is certainly possible to extensively diversify a portfolio and never leave American shores. However, as the recent financial crisis and recession (among other events) have proved that nearl...
US Expat Taxes: IRS Tax and Reporting Obligations of Foreign Trusts
As with all of your worldwide income and assets, any involvement of a US Citizen or Green Card Holder with one or more foreign trust accounts must be reported to the IRS with your annual US income tax return. Whether you are a stateside American Citizen or a US Expat living and working overseas, the rules of reporting and paying taxes on income f...
New Solution for Reporting Previously Unreported Canadian RRSP’s
Are you still concerned about one or more Canadian RRSPs that you failed to report to the IRS in previous years? For the first time, the IRS is allowing taxpayers to report previously unreported RRSPs by filling out Form 1040X and attaching a Form 8891 for each RRSP that wasn’t reported in recent years. ...