Taxgirl Podcast

Filing taxes can be a complex process involving different rules and stipulations for American citizens living outside of the United States. What do Americans citizens living abroad need to know about US taxes? On today's episode of the Taxgirl podcast, Kelly is joined by Nathalie Goldstein to talk about expat taxes for Americans living outside the United States. Nathalie is the founder and CEO of MyExpatTaxes. As an IRS Enrolled Agent, she specializes in US expat taxes, helping the 9 million Americans like herself living abroad required to file US taxes based on citizenship-based taxation. LISTEN TO KELLY AND NATHALIE DISCUSS THE EXPAT TAX JOURNEY: * Nathalie speaks about her own experience becoming an expat and learning how to process expat taxes. * What exactly do Americans living abroad need to know? How are taxes different for expats? * Kelly and Nathalie talk about foreign accounts, claiming Expat Tax benefits, and avoiding becoming double-taxed on foreign income. * What do expats need to know about other tax returns, F bar requirements, and other disclosures? * What tax complexities are involved with forming a business abroad and incorporating it? * What penalties can be associated with these complex tax filings? * Kelly and Nathalie share their thoughts on controversy and compliance issues for expats and international clients. Additionally, they provide insights and advice to those influenced by fear-mongering regarding tax compliance. * Nathalie discusses the IRS services for international taxpayers, including complications with processing mailed tax returns and accessing their online accounts. To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here [https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/]. LINKS MENTIONED: Kelly’s Website: Taxgirl [http://www.taxgirl.com/] MyExpatTaxes Website: MyExpatTaxes [https://www.myexpattaxes.com/] MyExpatTaxes Instagram: @MyExpatTaxes [https://www.instagram.com/myexpattaxes/] MyExpatTaxes TikTok: MyExpatTaxes [https://www.tiktok.com/@myexpattaxes?is_from_webapp=1&sender_device=pc] MyExpatTaxes Youtube: MyExpatTaxes [https://www.youtube.com/channel/UCE16g75aLMmUJZjv9MERfAQ] MyExpatTaxes Twitter: @MyExpatTaxes [https://twitter.com/myexpattaxes] MyExpatTaxes Linkedin: MyExpatTaxes [https://at.linkedin.com/company/my-expat-taxes?trk=public_profile_topcard-current-company]

Supporting gender equality within the global tax accounting and legal industries is essential. This month, female representation takes on even more meaning, as it is Women's History Month. What is the importance of gender equality within the tax profession? On today's episode of the Taxgirl podcast, Kelly is joined by Kate Barton to talk about gender equality in the tax profession. Kate is EY Global Vice Chair - Tax, where she oversees all aspects of EY’s tax strategy and operations, people development, client relations, quality control, risk management, thought leadership, knowledge, and learning. She also leads the EY tax executive committee. LISTEN TO KELLY AND KATE DISCUSS GENDER EQUALITY: * What has changed in terms of gender equality, and how should women continue to move forward in the tax profession? * What can women in leadership positions do to encourage and support women who are on their way up? * Kelly and Kate share their thoughts on mentorship between women in the tax profession. * What are some obstacles that Kate sees most for women in the tax profession on the way to achievement? * Has the change in the workplace to remote and hybrid structures generally been positive or negative for women? * Kate shares her thoughts on upskilling and education for women in the tax profession. * Kelly and Kate speak on increasing diversity and gender equality in the tax profession. To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here [https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/]. LINKS MENTIONED: Kelly’s Website: Taxgirl [http://www.taxgirl.com/] Kate’s Twitter: @KateBartonEY [https://twitter.com/katebartoney]

Recently, Americans have experienced rising prices. But when it comes to economic inflation, how does this affect the taxes you are expected to pay? How could the impact of inflation affect your tax bill? On today's episode of the Taxgirl podcast, Kelly is joined by Tim Speiss to talk about the impact of inflation and rising prices on taxes in 2022. Tim is the CPA and partner of EisnerAmper LLC's wealth advisory group. He has over 30 years of experience providing comprehensive tax planning and related investment, compensation, and financial planning services. LISTEN TO KELLY AND TIM DISCUSS TAXES AND INFLATION: * For taxpayers who may be in the position of needing to write checks to the IRS, what information and advice should they know regarding the effects of inflation on their taxes? * Tim provides holistic advice for effective financial and tax planning, like utilizing advisors and implementing goals. * Kelly and Tim speak on the value of taxpayers seeing professional specialists and personal wealth advisors who handle financial portfolios. * When using a holistic approach to developing long-term plans, what kinds of documentation should taxpayers look at? * What should taxpayers understand about charitable giving? With some people struggling with new economic burdens brought on by inflation, how can tax professionals help? * How does charitable planning relate to retirement when people try to use their retirement funds or retirement planning to accomplish a charitable goal? * Tim and Kelly discuss retirement changes, and Tim emphasizes the importance of starting a 401k plan early in life. * Homes and life insurance are significant sources of income or wealth-building investments. What components of these should taxpayers consider during tax season? * Tim provides his thoughts on whether the tax filing date should be changed. To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here [https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/]. LINKS MENTIONED: Kelly’s Website: Taxgirl [http://www.taxgirl.com/] Tim’s LinkedIn: Timothy P. Speiss [https://www.linkedin.com/in/timothy-p-speiss-064a5615]

Over the past few years, the IRS has increased its compliance and enforcement efforts focused on payment transactions between US and foreign persons. However, these new information reporting requirements for compliance can be confusing and intimidating for taxpayers. What changes has the IRS made to tax information reporting requirements? On today's episode of the Taxgirl podcast, Kelly is joined by Tara Ferris to talk about the new requirements for tax compliance. Tara is a Principal in the Financial Services Office of Ernst & Young LLP. In this role, Tara advises multinational financial institutions and asset managers on customer tax reporting and withholding. In addition, she focuses on process and control improvements to create efficiencies and reduce risk. Before joining Ernst & Young LLP, Tara served as Senior Counsel and worked on matters relating to FATCA, non-resident alien withholding and reporting, and international aspects of domestic information reporting. LISTEN TO KELLY AND TARA DISCUSS TAX REPORTING REQUIREMENTS: * There's more emphasis now on reporting requirements, either for US payments to foreign persons or foreign income received by US persons. How has the expansion of information reporting impacted the professional tax practice? * How should tax professionals communicate to their clients and financial institutions that they work with which forums are important, and when they need to issue them? * When working with financial institutions with clients who don't wish to be reported, how should tax professionals convince them that they need to give up the data, especially in countries where they may have built their entire system around the idea that it's secret? * What should a taxpayer do if they think they're supposed to get a forum and didn't, or that form doesn't come through? Is that something that a taxpayer should have a conversation about with their financial institution or tax professional? * Many clients struggle with the idea that they could have a reporting requirement that they aren't aware of or have reporting requirements they didn't even know existed. As a tax professional, how should one advise clients to figure out what those are? * Kelly and Tara discuss reporting and the burden on the taxpayer to make sure that that information is correct, keep records, and balance the way they use their tax data. * With the recent changes in tax reporting requirements, will taxpayers need to be reeducated on what is taxable and what is not? Are we suffering from an overreliance on tax forms to navigate this new territory? * Now that more mainstream financial institutions adopt crypto in various forms, could this make it easier or harder for the IRS to enforce crypto reporting? Tara and Kelly provide their opinions about the long road ahead for crypto reporting and tax preparation. * Tara speaks on her predictions of the tax reporting space in the upcoming years. To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here [https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/]. LINKS MENTIONED: Kelly’s Website: Taxgirl [http://www.taxgirl.com/] Tara’s LinkedIn: Tara Ferris [https://www.linkedin.com/in/tara-ferris-238670b] EY Tax Operations: Customer Tax Operations and Reporting Services [https://www.ey.com/en_us/financial-services/customer-tax-operations-reporting-services]

The world seems to be finally recovering as we come out of the pandemic. The global economy has rebounded and the global GDP is projected to increase. But will this trend continue? What do CEOs think about the economy and next steps? On today's episode of the Taxgirl podcast, Kelly is joined by Kathryn Kaminsky to talk about global economic trends and their effects on tax professionals. Kathryn is Vice Chair - Trust Solutions Co-Leader of PwC. In this role, she oversees the largest Trust platform in the world, bringing together the firm’s combined Audit, ESG, Digital Assurance and Tax Reporting capabilities to best help clients as they seek to build trust with their stakeholders. As co-leader, Kathryn is responsible for the quality of service, excellence in the work performed by over 21,000 partners and staff, developing diverse teams and driving innovation. LISTEN TO KELLY AND KATHRYN DISCUSS THE STATE OF THE ECONOMY AND THE CHALLENGES AHEAD: * PwC recently asked 4,446 CEOs from 89 countries and territories about continued economic resilience. Kelly and Kathryn speak about the survey results and how they could affect the tax profession. * Kelly and Kathryn discuss the optimism displayed in the survey and the reasons many respondents may have for maintaining optimism regarding this topic. * What challenges may leaders and CEOs of larger companies face in the current economic state, and how are they making adjustments to combat them? * Kathryn shares her insight about the labor shortage, the Great Resignation, and how companies have been navigating these workforce management trends. * What are the common concerns of CFOs or CEOs when it comes to US tax policy and the implications of the OECD? * Since the pandemic began, many technological innovations have changed how we do business and characterize industries. What future effects can we expect from these changes on business categorization and economic growth? * How invested are CEOs and leaders of bigger corporations with the tax planning process? * The PwC survey featured the topic of succession. How important is succession planning for companies, particularly larger ones, and multinationals? * Kathryn provides her most important advice for tax and accounting and legal professionals related to the survey and our current economic trajectory. To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here [https://www.taxgirl.com/taxgirl-podcast/podcast-subscription/]. LINKS MENTIONED: Kelly’s Website: Taxgirl [http://www.taxgirl.com/] Kathryn’s LinkedIn: Kathryn Kaminsky [https://www.linkedin.com/in/kathryn-kaminsky-b981b721/] Kathryn’s Twitter: @Kaminsky001 [https://twitter.com/Kaminsky001] PwC: Kathryn Kaminsky [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.pwc.com%2Fus%2Fen%2Fcontacts%2Fk%2Fkathryn-kaminsky.html&data=04%7C01%7Ckerb%40bloombergindustry.com%7C6d0d4abc432442a54a6c08d9e5dc175c%7C97be21fdc6014b169920f5accc69da65%7C0%7C0%7C637793555742238606%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=w5WfivfdQNKoXE2X09F5BB9DLci2V0hobC6PCxrsKAs%3D&reserved=0] PwC 25th Annual Global CEO survey [https://www.pwc.com/gx/en/ceo-agenda/ceosurvey/2022.html]