Expert Advice on Expat Taxes & Nomad Taxes

Are you an expatriate or digital nomad living abroad? Do you have questions about filing your US taxes while overseas? Look no further! In this video, we provide valuable tips and expert advice on navigating the complex world of expat and nomad US tax filing. From important deadlines to common deductions, we cover it all. Plus, we answer your burning questions in a comprehensive Q&A session. Stay informed and ensure a smooth tax season by watching this helpful guide. Don't let tax stress ruin your international adventure - let us help you make sense of it all!
Are you living abroad as an expat or nomad, but still need to file US taxes? Don't worry, we've got you covered with some tips and answers to common questions. First, it's important to know that US citizens are required to file taxes no matter where they live. This includes reporting all worldwide income, even if you're not currently living in the US.
When filing as an expat or nomad, you may be eligible for certain exclusions or deductions, like the Foreign Earned Income Exclusion or the Foreign Tax Credit. These can help lower your tax bill and avoid double taxation.
Our Guest Heather can be reached at: [e-mail] www.tax-queen.com
Thanks for watching, and don't forget to subscribe to our channel for more travel inspiration.
Visit: www.warrenjulietravel.com/
We're celebrating four years as Early Retirement Travelers, Nomads, Expats, Slow Travelers etc. We have learned and been through a lot during our travels, and we've been spending less than we expected. We are early retirement travelers, doing slow travel across Europe with our dogs. We started our adventure in March of 2020 in Ecuador. We consider ourselves the first retirement travel channel vlog sharing travel hacks, cost of living, and what it’s like to actually live somewhere. We are “Warren & Julie Travel Nomad Expats” Thinking of retiring early and traveling the world? This video shares lessons from our four years of slow travel, from budgeting to finding the best destinations. Learn from our experiences as slow travelers and get ready for an unforgettable retirement adventure. Thanks for watching the video! Don't forget to subscribe to our channel for more helpful tips and information for expats.
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[@morrowcleveland]

Awesome video! Thank you for this topic. This has been a missing piece in my research / preparation for retirement and full time travel. The dialogue with Heather was great. I wrote down alot of things! I see that Heather has alot of good information on her website. I love that Heather has been a nomad. That gives me alot of confidence in her understanding of the subject. Thank you for connecting us with this great resource! 😊

[@WarrenJulieTravel]

Thanks for letting us know that this video was valuable to you, it really means a lot to us.

[@marshallandnadinecuenca]

Enjoyed the interview and your questions. As we tell our friends, especially those who are retired, you can keep it simple, or you can complicate things for yourself.

[@WarrenJulieTravel]

Thanks, we appreciate you watching and adding the comments with your perspective.

[@jwinters9974]

Very timely video... Thank you!

[@WarrenJulieTravel]

You are very welcome 🤗

[@alkemystica]

Interesting informative video, thanks!

[@WarrenJulieTravel]

Thanks 😊

[@BillyPaulWilliams001]

Why isn't anyone questioning this whole following you around the world asking you how much you make thing. Ive Been living abroad for 10 years now, not working or benefiting from any US company, still have to file taxes. The US and Eritrea are the only 2 Counties in the world that doest this. Feels kinda wrong especially for the richest County on the planet.

[@WarrenJulieTravel]

It’s an unfortunate part of being American. There just aren’t enough of us with a voice in politics to drive a change.

[@mike73ng]

You forgot to mention the additional 3.8% tax on capital gains over 200,000 or 250,000 for joint filers.

[@WarrenJulieTravel]

Thanks for the info.

[@DeanRamser]

Another excellent and informative video, Warren & Julie! We are considering starting the Nomad Traveling Lifestyle, continuing to rent out our Portland condo, and traveling in Europe. Although our property taxes are high, we can deduct our HOA. As retired educators, our SSI and pensions are fixed. Recently we learned that we could stop paying our Medicare healthcare deductions while traveling. It seems that paying for healthcare on both continents deserves a closer look. I wonder how our 2024 tax return will differ from last year's return if we stay a full 300 days in Europe. Thanks again for your insightful videos! Dean & Cindy

[@WarrenJulieTravel]

Thank you for watching us. We are not tax experts and that is the reason we reach out to expert for our videos. We want to give accurate information. We understand your point of view and questions. Our tax filing this year was far better than we expected. Our CPA retired so we used an expat service that specializes in expats. We were very pleased. If you would like to speak with us about those things, please email [e-mail]

[@DeanRamser]

@@WarrenJulieTravel Thank you. I will reach out once we know which direction we are going; short-term or long-term. Thanks, again!

[@MotoTouringWorldWide]

Thank you for the video. 🙋‍♂️ Perfect timing as I was going to ask the same question as the title of your video about taxes. Quick question, on another topic, my wife and I live in Washington state and we're getting ready to retire and travel throughout Europe (we are the same age as you, lol). I am an EU citizen via Austria. (Dual citizenship with USA) We're excited to move to Europe and bounce and shuffle around . Do you have recommendations on how to "keep" a real address in the USA, I currently use a virtual address (and physical address) but half my credit cards don't like the virtual address and they want a physical address. My LLC still needs a physical address. Should I just use a family or friends address in Washington state because I still want to keep my bank accounts active here in Seattle? Thanks again for the great videos, by the way my wife and I love your older videos when you were buying your car. 🤙🤗

[@napoleonmdusa8877]

I'm having this question too as I'm finding it difficult to find a solution to the domicile address issue that many banks & brokerages (IRAs) have with expats when they are out of the country for a long time during the year.

[@WarrenJulieTravel]

I’m not sure why you would have problems with your credit card companies with a virtual address, we had used a virtual address with Ipostal at one of their locations in Florida for over a year without any problems. We currently use my son‘s address in Florida. If you have a friend or relative that you can use as an address, it is preferable in my opinion. Maybe you should decide whether or not the particular institutions you’re working with that are having problems with the mailbox are worth continuing a relationship with. We have had no problems with Capital One, Chase, Charles Schwab. ipostal.com/

[@MotoTouringWorldWide]

@@WarrenJulieTravel , American Express forced me to change my iPostal address back to my previous private address. American Xpress said they will close my account if I don't. I'm having no problems with Bank of America, Barclay's, and Citi Bank credit cards. It's annoying because I forget what what zip code to enter at the gas pump when I use my American Xpress card. My card gets denied then I remember to use my physical zip code. By the way, my iPostal address is 1 mile away from my current address.

[@HH-fo9sg]

You used the example of Spain regarding avoiding double taxation, but I did not think the U.S. had a tax treaty with Spain.

[@WarrenJulieTravel]

The United States and Spain do have a double taxation treaty signed. We are not tax experts, so all those types of questions have to be directed to the accountant. There are several countries that have double taxation treaties with the US.

[@fedorilkov2998]

Thank you Warren and Jullie! That was very helpful. I plan to move to Bulgaria for retirement in fall of 2024, and question on how i'm going to be taxed is not clear for me. Counting in taxes, as we know, in our future budget is part of planning our future expenses. Since i'm not in a hurry, i need tax filing for next year from outside of US, i'll contact Heather later on, not to take her time off the urgent need of her clients. Thanks again. Teo P.S. another topic, that i think is very interesting for expats, is on health insurance. Say i want to live 8 month outside of USe and 4 month in US. Should i keep continues health coverage in USe in order not to pay penalties for not having it? Especially it is confusing for retirees who should be on a medicare. Should i pay for medicare while i'm outside of US just not to lose it?

[@WarrenJulieTravel]

Thank you for the kind words, I am sure Heather will be able to help you in the future when you are ready to speak with her. Regarding Medicare, this is a personal decision and there could be penalties or potential gaps in coverage for you if you return to the US. Many people do continue their Medicare abroad. If you are an American citizen, some US insurance companies require you to have Medicare for international plans .

[@lovitac]

Hi there 👋🏼 great video. For the self-employed expats, that have to pay SS and Medicare, I have researched that some countries are part of the Totalization Treaty (there is a list in the IRS website). If a self-employed expat lives in one of those countries and is registered as self-employed there, that person can have the FICA taxes (ss & Medicare) discounted from their taxes. Can you please confirm that information?

[@WarrenJulieTravel]

Thank you for watching and commenting. I have to recommend you speak directly with the expert in the video. I am sure she can respond appropriately and with knowledge. If you need her contact information, it is in the video description or you can email us at Warren Julie [e-mail] and we will direct you to her.

[@rebageorgiadis3861]

We are expats, dual citizenship, and get social security from both countries. The tax burder is highest in our country of residence(not US). Can anyone tell me please what forms should I fill out? I assume that I declare all worldwide income and pay my host country first. Then I can declare the foreign Soc Sec on line 1040-SR 5b and use form for "Foreign Tax Credit". Probably Schedule 1 ? Am I thinking this through correctly? The US Soc Sec reporting is pretty straightforward, its the foreign govt ss that has me puzzled. Thank you for any assistance!

[@WarrenJulieTravel]

I would suggest you consider reaching out to Heather from the video. She is quite knowledgeable. Hopefully, a few others will answer as well. Thank you for watching.

[@user-xp4xh1lm2v]

So do I have to return to USA after 330 days to maintain citizenship? Or does filing taxes shows my intent to maintain my citizenship?

[@comrade916]

Why would you think you would lose your citizenship after 330 days.? There are millions of Americans that have lived decades overseas and never returned to U.S. and yet still are American citizens.. This video is informing you on taxes while living abroad... It has nothing to do with citizenship..

[@TabTries]

If you are a USA citizen then you will always be a USA citizen. Unless you renounce your US citizenship and pay the USA government to renounce. You will always have to file taxes in the USA weather you step foot in the country or not. So NO you don't have to go back to the USA ever if you dont want to. but you will always be a US citizen.

[@comrade916]

@@TabTries Almost correct.. A naturalized U.S. citizen can have their citizenship revoked.. It does not happen often, but it is possible..

[@WarrenJulieTravel]

Your going back to the United States, has nothing to do with whether or not your citizenship would be revoked. There is no requirement for US citizen to go back to the United States for any length of time during any period of time.