Whether it's Reddit, a Facebook group, or any of the other myriad online discussion forums for U.S. expats, whether or not you - a U.S. expat - can contribute to an IRA is typically one of the most discussed topics for Americans living abroad. The simple answer is yes, you can, as long as you have employment income. Outside of that, no one rule prohibits a U.S. expat from contributing to an IRA. But as Keith Poniewaz, Ph.D., puts it so aptly in this episode, "Can you contribute to an IRA as an expat? Yes. Should you? Maybe." Hence the need for this episode - and the corresponding article from Syl Michelin, CFA, who joined Keith on this episode.
Keith and Syl dig more into why an expat might, or might not, want to contribute to an IRA while living abroad. And because of things like Foreign Earned Income Exclusion, which you may have seen abbreviated as FEIE, and foreign tax credits, how much you're able to contribute to an IRA or Roth IRA can be more complicated, especially with a Roth.
Questions on IRAs, Roth IRAs, or anything else expat-related? Reach out to us using the links section below or send us a voice message on Spotify.
Disclosure: We are not CPAs. Please consult a tax professional if you have any tax questions specific to your own situation.
LINKS
📰 Article: Can I Contribute to an IRA as an American Expat?: bit.ly/3vKQTte
🔊 Listen on Spotify: spoti.fi/3oDHYWU
🍏 Listen on Apple Podcasts: apple.co/333g8Lh
▶ Subscribe to Walkner Condon's U.S. Expat KZitem Channel: bit.ly/3JnpPnW
💻 Additional Educational Materials for Expats: bit.ly/3MIC0ht
📞 Contact Us: usexpatinvesting.com/contact/
📅 Meet with an Advisor: usexpatinvesting.com/book-an-...
-------VIDEO CONTENT-------
0:00 - Opening Song
0:19 - Introduction: Keith Poniewaz
1:30 - Memorization of phone numbers & IRA numbers
3:30 - Dubunking the Expat IRA myth
8:15 - The Foreign Earned Income Exclusion (FEIE)
11:00 - Why Might I Not Want to Use IRA?
12:30 - Expat Taxes is About Data Gathering
13:30 - Pre-Tax Becomes Post-Tax
16:15 - Why Can't I Make Roth Contribution?
18:00 - Modified Adjusted Gross Income
20:00 - Being Able to Qualify To Make a Roth Contribution
21:20 - Other Roth Considerations: Benefits Might Go Away
22:00 - How Will My Country of Residence Treat This?
24:00 - Can I? And Do I Want To?
Негізгі бет Can I Contribute to an IRA (or Roth IRA) as an American Living Outside the U.S.?
Пікірлер: 6