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47. PFICs: The Number One Expat Landmine That Can Easily Be Avoided
Are your foreign investments quietly wrecking your US tax situation? They might be.
This week’s Ask An Expert show features Brian Dunhill, a seasoned financial planner based in the UK, to tackle one of the trickiest topics in expat finance: PFICs (Passive Foreign Investment Companies).
Host and founder of Plan First Wealth, Richard Taylor, and founder of Dunhill financial Brian walk you through:
What PFICs are and why they’re a major tax trap for US citizens and expats.
How IRS rules make foreign investing more complicated, and costly.
Ways to avoid harsh penalties, including using the…
The skinny
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