Retiring abroad requires a lot of planning and often a good accountant. When people dream of jetting off to the French countryside or a tropical island to begin a new chapter in retirement, tax and banking policies don’t usually feature prominently in the fantasy. But pulling off a move overseas in retirement requires navigating financial rules in both the U.S. and one’s new home. Mistakes are easy to make and can be costly, financial advisers with international clients say.

att and Lynné Montgomery moved their family to Italy recently for a three-year assignment. He is a scientist in the U.S. military. She is home schooling their four children, ages 1 to 6. With 15 years’ service, Matt Montgomery, 38 years old, is now considering what he might do in five years when he will be eligible for a pension worth one-half of his base pay, currently $108,000.

You feel great because you just filed your tax returns. What a relief! Then, just when you think all is well, you get a set of corrected 1099’s in the mail. So now, the returns you just filed report incorrect information. What do you do next? File amended returns, or play roulette and see if you get any notices? Sometimes, errors are best left to the IRS to correct, and sometimes not.

Here is an interesting article on tax savings through income deferral strategies that we had CHAT GPT create. Please be sure to contact your tax provider for more information.

Taxes touch every aspect of Americans’ lives. Consider the controversy over benefits received by Supreme Court Justice Clarence Thomas from his longtime friend, Dallas billionaire and political donor Harlan Crow.

Here is a great article for small businesses that we had CHAT GPT create.