Tag: finance
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US Expat Finance 101
Living abroad as a US citizen involves complex financial considerations. Global taxation requires citizens to report and pay taxes on worldwide income. The Foreign Account Tax Compliance Act (FATCA) enforces reporting of foreign financial accounts. To navigate these challenges, it’s advised to maintain a US bank account, manage investments through a US broker, and stay…
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How US investments are taxed in Italy
US citizens residing abroad should be aware of the taxation of earnings from a US broker in Italy. Capital gains are taxed only in Italy under the tax treaty, with different rates for stocks, government bonds, and US ETFs. Dividend income is taxed in both countries, entailing complexities and potential double taxation. Understanding these factors…
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Banking with Wise for US Expats
Wise is an ideal banking solution for US expats due to its multi-currency account features. With the ability to fund accounts in USD and EUR, fast and free money transfers, low currency exchange fees, and hassle-free account relocation, Wise provides convenience and cost-effectiveness for expats.
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How to invest as US Citizen living in Italy
US citizens living in Italy face investing challenges. Italian banks struggle with FATCA compliance, while US brokers require a US address. US ETFs also incur unfavorable taxation. Solutions include investing in individual stocks through US brokers or establishing a US Trust in Italy, though the latter is costly and suitable for wealthier individuals.
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Managing your bank accounts abroad
Living abroad as a US expatriate? Managing your US bank accounts overseas can be complex. Keep your account for financial connections, future convenience, and credit score maintenance. Maintain minimum balances to avoid fees and watch out for foreign transaction fees. Some banks support expats, while others may require account closure.
Spaghetti Finance 