How to Play Nice with the IRS When Transferring Money Overseas

Описание: Living in Israel with U.S. investment accounts? Be careful when transferring money overseas!

In this insightful recording, Doug Goldstein, CFP®, GFP®, founder of Profile Investment Services, Ltd., unveils essential tips and best practices for successful cross-border investing. From working with reputable financial institutions to maintaining meticulous records, he shares expert advice on navigating the complexities of transferring money overseas.

Key pointers from the show:

• Make sure to report all of your foreign financial accounts to the IRS. Violations may lead to severe penalties.
• Choose reputable financial institutions to work with when transferring money to ensure compliance and avoid potential issues.
• Be transparent with the IRS and report all financial transactions accurately.
• Avoid using checks or traveler’s checks. The preferred method of money transfer is wire, this lowers the risk of raising red flags with the IRS.
• Document all your transactions to ensure a clear financial record.

These are valuable points to consider when dealing with cross-border financial transactions.

Please share your thoughts and experiences on this in the comments below.

#IRSprocedures #AmericanExpats #internationalfinance

Visit our website: https://profile-financial.com 
Sign up for our Newsletter: https://profile-financial.com/newslet...
Read Doug’s Books: https://goldsteinongelt.com/books/  
Listen to The Goldstein on Gelt podcast: https://goldsteinongelt.com  
Follow us on LinkedIn:   / douglasgoldsteincfp   
Facebook:   / douglas.goldstein.16   

Don’t forget to like this video and subscribe to stay in touch!

Due to the unpredictable nature of the investment markets, the ever-changing economic scene, and the inherent risk that an investor may lose money, there is no guarantee or assurance whatsoever that any of the ideas or strategies discussed here will be successful. We are not responsible for any loss, liability, or risk incurred as a result of applying or using any of the information on this show. Nothing in this show shall be construed to be a solicitation to buy or offer to sell any security, product or service to any U.S. or non-U.S. investor, nor shall any such security product or service be solicited, offered or sold in any jurisdiction where such activity would be contrary to the securities laws or other local laws and regulations, or would subject Douglas Goldstein, Profile Investment Services, Ltd. or any of its affiliates to any registration requirement within such jurisdiction. Douglas Goldstein, Profile Investment Services, Ltd. or any of its affiliates are not under any obligation to update or correct any information provided on this show or website. Douglas Goldstein’s statements and opinions are subject to change without notice. Speak to a qualified tax and investment professional before investing. Past performance is not indicative of future results. Neither Douglas Goldstein, Profile Investment Services, Ltd. nor any of its affiliates guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this website or on the show. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned on this website or on the show may not be suitable for you. The show and this website do not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on this website or on the show. Before acting on information on this presentation or on the show, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. Accounts carried by Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. The opinions in this presentation are those of Douglas Goldstein and no necessarily those of Portfolio Resources Group, Inc.