Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - GOFU

Pages: [1]
1
Let's say you want to convert as much of your tIRA to a Roth IRA as you can in a given year. In order to do that is it required that you be eligible to contribute to the Roth in the first place?

In my case I am not eligible to contribute to a Roth IRA (or a tIRA) because all of my income is excluded from federal income tax under the FEIE. Does that preclude me from converting part of my tIRA to Roth?

2
Taxes / General tax resource for those covered by the FEIE
« on: February 05, 2018, 05:55:19 AM »
Hey man, thanks for the pdf on harvesting capital gains. 100% of my income is excluded from federal income tax by the FEIE. Do you know a good comprehensiive resource on how that impacts the capital gain harvesting and Roth IRA conversion scenarios you have mastered?

Thank you for sharing these skills with your readers.

3
Expat life / Re: Living abroad and estate plannin
« on: February 05, 2018, 05:41:46 AM »
Here's what I did: I set up a trust in the USA and all financial assets are in the trust or will go to the trust. Taxable accounts, IRAs, 401k, life insurance proceeds, bank accounts, rental property, etc. All of it. We keep no significant financial assets anywhere outside the US. We manage all our stuff by computer and phone (and hardly ever by phone any more).

I see absolutely no need to move your financial assets to another country. In fact the idea of doing so seems completely absurd. If you are not earning enough to live on in the foreign country, you transfer what you need to live for a time from the US and leave the rest where it is according to your investment plan. When you need more money you have it sent over.

As for real property in the foreign country, you could title it in both names as husband and wife, and probably even add your beneficiaries' names to the title also to ensure the benefaction you want. If the place is so lacking in rule of law that you can't do that, then you probably should think twice about investing in real assets there.

Pages: [1]