What is an ExPat with David McKeegan

Updated on March 23, 2020 Updated on March 23, 2020
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David McKeegan
Table of Contents  
  1. Show Notes

So, what is an expat? Want to live and work abroad and reduce your tax burden? We talk to David McKeegan, an ex-pat tax expert to learn the tricks.

Many people dream of leaving the US and it’s taxes behind to start a life and a business in a new, exotic place.  It can give you a brand new life and reduce your taxes to near zero if you know how to play the game.  Seven and a half million of your fellow Americans have done it so why not you?

If you move abroad to live and work, you don’t have to renounce your US citizenship although increasingly some people are doing so for financial or political reasons. But to qualify to pay zero US taxes, you will have to reside outside the country for 330 days per year.  If you meet this threshold, your first $99,200 in income, is US tax free!

You may still have to pay taxes in your new home.  Or maybe you don’t.  In Dubai for example, there is no personal income tax.  So the lesson is, investigate the tax codes as part of choosing your new country.

If you are able to work from anywhere you can get a Wifi connection, consider becoming a digital nomad.  Many countries will not subject you to local taxes until you’ve been there for 180 days or more, so just pack your bags every few months and move to greener pastures. Imagine the pictures you can post on Facebook if you went this route, yourself lounging with your laptop in exotic locales, on a big pile of tax free money!

Remember, if you choose to move abroad, the first consideration should be quality of life and if you can reduce your tax burden, that’s the icing on the cake.

Show Notes

Greenback Expat Tax Services:  David’s company that will help you unravel ex-pat tax filing.

Space Walker American Belgo:  An American beer with spicy, fruity flavors.

Betterment:  Start investing today to fund your ex-pat dreams.

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

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