Timothy Sumer

In this fourth and final installment on a review of the major relief provisions contained in the CARES Act, Evolution Tax & Legal's Alton Moore covers the relief provisions set out for the use of retirement plan funds and how to take advantage of them. Alton walks through the COVID-19 relief provisions allowing US citizens and taxpayer to utilize their retirement plan funds unlike before.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing CARES Act Relief - Part 4: Utilization of Retirement Plan Funds The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, was signed into law in late March with the aim of providing relief to individuals and businesses affected by the economic impact of the COVID-19 pandemic. Among its various provisions, the Act includes measures that all...

[ Offshore Tax ] Let's Talk About Roth IRA Contributions for Couples Using FEIE The Backdoor Roth IRA is a strategy that high earners use to convert a traditional IRA into a Roth IRA. This strategy allows them to make contributions to an IRA, roll it over to a Roth IRA, or convert the entire IRA to a Roth. The Backdoor Roth IRA strategy is a legal method to circumvent the income limits that typically prevent high earners from owning Roth IRAs. This strategy is not a tax dodge. While establishing a Backdoor Roth IRA may incur higher taxes initially, it offers the future tax savings associated with a Roth account. Moreover, the Backdoor Roth IRA strategy can be advantageous for individuals who anticipate having leftover funds in their traditional IRA. They can transfer these funds to their heirs through a Roth IRA. TIMESTAMPS: 0:00 INTRO 1:00 Roth IRA Contributions for Couples Using FEIE 2:00 Funding IRA and convert to ROTH 3:48 OUTRO --------------------------------...

[ Offshore Tax ] Can I open an IRA or Roth IRA while living in France? Yes, a U.S. citizen living abroad can have both a traditional and/or Roth IRA. The restrictions only apply to making contributions. So, if you had an existing IRA before you moved abroad, you don’t have to get rid of it or transfer assets, but you may not be able to add to it while you’re overseas. TIMESTAMPS: 0:00 INTRO 0:10 Opening ROTH or IRA in France 1:30 Taxable income in France for US ex-pats 3:00 Using VPN for accounts 4:30 Financial advisors advice 5:50 OUTRO ------------------------------------------ OUR CHANNEL OFFERS: - Updated daily, we help 6, 7, and 8-figure International Entrepreneurs, Expats, Digital Nomads, and Investors legally minimize their global tax burden and protect their wealth. - Join Amazon's best-selling author, Derren Joseph, in exploring the offshore financial world. SUBSCRIBE TO OUR CHANNEL FOR MORE FREE INFORMATION: ------------------------------------------------...

[ Offshore Tax ] Let's talk about US retirement account contributions while working abroad The IRA distribution rules for U.S. citizens living abroad are the same as those for citizens residing stateside. Whether you can contribute to your regular or Roth IRA while living abroad depends on your foreign income and the exclusions and deductions you claim, namely the foreign earned income exclusion (FEIE) or foreign housing exclusion. To contribute to an IRA while living abroad, you must have income left over after deductions and exclusions. If you exclude all of your income with the FEIE and have no other sources of earned income, you are not eligible to contribute to an IRA. However, if you only exclude part of your income or claim the foreign tax credit (FTC) instead, you may still be able to contribute to an IRA. TIMESTAMPS: 0:00 INTRO 0:10 End of service in Saudi Arabia 1:10 Investing in ROTH as a US ex-pat 2:40 SEC rules for US ex-pats 4:20 US retirement account c...