Episode 81: TMBA 081 (TTR2) – Huge Tax Breaks for Expats (Plus the 3 Biggest Tax Mistakes Expats & Travelers Make)
Tropical MBA: Entrepreneurship & Founder Lifestyle
Dan Andrews; Ian Schoen
4.9 • 527 Ratings
🗓️ 4 November 2011
⏱️ 23 minutes
🧾️ Download transcript
Summary
This episode is primarily focused on tax strategies for Americans. My friends David and Carrie McKeegan were kind enough to host a pool party the other day, so I decided to bring along my mic to learn a little bit more about expat tax tricks. They run a very successful expat tax consultancy called GreenbackTaxServices.com. It’s a fantastic example of a scalable “micro-multiational” lifestyle business. It’s enabled David and Carrie to travel as the please and live in some amazing places.
David said something that caught my attention the other day. He said if you are an American traveler or an expat, the single most profound financial decision you can make is to qualify for the earned income exclusion. His caveat was “if you make under 500,000K annually in personal income.” That’s, ahem, most of us…
Transcript
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| 0:00.0 | Hey, you've joined the podcast with the most palm trees today. We're going to talk about that earned income tax exclusion for Americans. Things are tricky, as you know. Lifestyle design for families and we do a lot of other stuff too. Let's get started. Somebody play the music already. Yeah, buddy, you've downloaded Tropical Talk Radio where we talk about all things, entrepreneurship, travel, and lifestyle. If you're interested in more about this program, |
| 0:21.8 | check out tropical MBA.com. And if you sign up for our mailing list, I will personally send |
| 0:27.4 | you 50 free podcast episodes that take you along on our journey and expose the insider story |
| 0:33.8 | on how we started a million dollar honest-to-goodness product business |
| 0:37.6 | while we travel the globe. All right welcome to another informal unedited |
| 0:43.3 | tropical talk radio I'm here with David and Kerry McKeegan Tommy Schultz from |
| 0:47.6 | Tommy Shultz.com photographer extraordinaire and Globetrotter mr.. Ian, the CEO, yeah. How's it to be back in |
| 0:56.2 | Bali? It's Bala. All right, today we're going to talk about the quickest way you can make |
| 0:59.8 | 35 to 40 extra grand next year. It's the Earned Income Exclusion Act and it applies specifically |
| 1:06.9 | to Americans and you guys are experts in it. So let us know the broad range. It's amazing how many American expats are not even familiar with the Earned Income Exclusion Act. And before you even get to that, let's back up a second. You guys are the most mentioned couple of all time when the lifestyle is in the podcast and you've never yet been on it. So introduce yourselves and your business. |
| 1:29.3 | What kind of problems do you guys solve? |
| 1:31.3 | We are a US expat tax business. |
| 1:33.3 | So any Americans living overseas, we can help you out get your U.S. taxes sorted for you. |
| 1:40.3 | Make sure you stay compliant and make sure they're done right. |
| 1:45.1 | And I think the big thing for us is we know exactly where people are coming from |
| 1:48.0 | because we were, I mean, we basically set up this business because we had the problem |
| 1:52.1 | that a lot of people are having. |
| 1:53.1 | Couldn't find anyone who understood enough about taxes to be able to prepare ours properly |
| 1:57.3 | who wanted to do it at a fair price. |
| 1:59.6 | So we kind of get it I think you guys |
| 2:02.1 | are like the like the family lifestyle design right you guys are like I mean |
| 2:07.2 | everybody says this is for 22 year old single dudes but you guys are out here |
... |
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