The International Money Café Show

If you receive a gift or inheritance from a non-US person, you have specific reporting and tax obligations before enjoying your gift. In this solo episode, Manasa details the thresholds, reporting forms, and tax implications based on the type of gift or inheritance. Different thresholds apply depending on the type of gift or inheritance, such as $100,000 for gifts from non-US citizens and no thres...

The F1 visa is a non-immigrant student visa that allows international students to pursue academic studies in the US.  It's vital to the US economy as it attracts talented individuals who often go on to start unique businesses and contribute significantly to the workforce.  In this shortie episode, we cover the legal definition of the F1 visa, the application process, the duration of stay, employme...

Millions of Americans live overseas and are currently receiving social security.  In this episode, we discuss the eligibility criteria and process for receiving social security benefits as a US citizen living abroad.  We cover topics such as the 10-year work requirement, how to apply for benefits from abroad, and the taxation of social security income. We also mention the importance of totalizatio...

If you are a U.S. citizen or a long-time resident (8 of the last 15 years), and you decide to leave the U.S. permanently, you could become a covered expatriate. You don't want to be a covered expatriate since there is a possibility you may have to pay an exit tax. In this shortie, we tell you who a covered expatriate is. Three main tests determine whether you are a covered expatriate and the poten...

Your parents sent you to the US to pursue your American dream. But now they are aging back home, and you are stressed about how to care for them. This is a common dilemma facing many foreign-born individuals. Being on a work visa makes it even harder. We discuss the challenges and possible solutions to this issue. We explore topics such as: Health insurance Emotional concerns, Parents' wealth, est...

In today's "Shortie" episode, we define "Custodial Accounts."  Until a child is a legal adult,  they can't technically own anything. So how do we help these kids own "stuff," like investment accounts? Hence custodial accounts - What are they? When is it best to use them?  Does it make sense to use them instead of 529's?  We answer this and more questions that pertain to custodial accounts. -------...

Employees on work visas tend to be very hardworking (mainly in the STEM Space), very determined to pursue their version of the American dream, and with high incomes, anxious to start investing. When we start working with them on a financial plan, we complete a full SWOT analysis, and without a doubt, one threat stands out like a sore thumb. In this episode, we address the specific threat—all relat...

In today's "Shortie" episode, we define the word "Situs." It comes up a lot when discussing investment property and other types of investment.  Situs is heavily used in the cross-border space. We tell you what it is, its importance in the legal, tax, and estate planning arena, and how it affects what happens to property at the end. We'll also address different types of properties. Situs is not to...

We lightly appreciate the spirit of this statement within certain immigrant communities: " My kids can study anything in college after they get the medical or engineering degrees out of the way." According to the IFS - Institute of Family Studies research, immigrant parents have even higher expectations that their kids will not only get their undergraduate degrees but will go on to get graduate an...

According to migration policy data, the highest number of immigrants are trying to get to the US. For those wanting to become Americans, it's a stressful situation, and the process can last for years. But then there is another group of people who live outside the US, some of whom have no idea they are Americans, especially because they don't have a US passport. For the record, not having a passpor...

Owning foreign or overseas rentals is very attractive, especially for foreign-born individuals with strong ties to their "home" country. The question has also frequently come up with foreign nationals on work visas who are not going to be in the US for the long term and want to start building passive income overseas. Given the current situation in the US, we can appreciate the attractiveness of th...

Translating financial and tax Legalese into English in 10 minutes or less. In today's episode, we'll explain payroll taxes. We'll describe the what, the why, and, more importantly, what you need to know.  We'll answer the question, "What are FICA taxes?". We'll also discuss how these payroll taxes affect workers on nonimmigrant work visas. Depending on whether you are a nonresident for tax purpose...

The US taxes you on your worldwide income, regardless of where you live. If you live in the US and have foreign income or abroad, you have to report your foreign income on your US return. The other country in the equation is also very interested in your income, especially if you live there. Thus, the fear of being double-taxed is real and justified. We are going to talk about Avoiding Double Taxat...

Translating Financial & Tax Legalese to English in 10 minutes or less. In today's episode, we walk you through all the tax forms, you are going to need to file your taxes. In other words, what information do you as a US resident or US nonresident need to compile your tax information? We promise by the end of the 10 minutes, you'll have a pretty good list of all the forms you need to make this...

Filing taxes in the US is generally a stressful process. It's extra stressful for those who are new in the US, especially since filing taxes in the US is very different from other countries. In this episode, we discuss different aspects of filing taxes for both US tax residents and tax nonresidents. We start by discussing dates and different deadlines. We then move on to information gathering - wh...

In this "shortie" episode, Jane and Manasa discuss the concept of digital nomads and the financial and tax implications of this lifestyle. They define what a digital nomad is and explore the growing trend of remote work. They also highlight the importance of considering legal, financial, and tax consequences when becoming a digital nomad. They touch on topics such as filing US taxes, paying self-e...

Foreign nationals on work visas are very keen to take advantage of the U.S. Tax code when it comes to investing and saving for retirement and other financial needs. They are looking to save for retirement, their kid's college funding, and other financial goals. Like American citizens, they would like to take advantage of tax-advantaged accounts like 401k plans, 403b plans, Roth IRAs, 529 college s...

The US finance and tax language sounds very foreign to anybody unfamiliar with it. This has nothing to do with when you came to the country. In this episode, your co-hosts Jane Mepham, CFP, and Manasa Nadig, EA, dive into explaining one of these terms. In this new series (every other episode), they take a term commonly used in the cross-border space and explain what it means in plain English, and...

Just about everybody loves weddings, and all that goes with them but when they cross international boundaries, the real fun begins. In this episode, your co-hosts Jane Mepham, CFP, and Manasa Nadig, EA, dive into some of the challenges of a US citizen marrying a non-US citizen. They examine the case of a couple who just got married and the non-US citizen is still outside the US. What are the tax-f...

In this episode of the International Money Café Podcast, we get to answer the question “What does Jane Mepham, CFP® do for her clients, and who are they?” Tune in to find out more about Jane, learn why & how she launched her practice Elgon Financial Advisors, to serve foreign-born families and who her ICP (Ideal client profile) is, through numerous case studies, she’s come across. You’ll learn...

In this episode of the International Money Café Podcast, we get to answer the question “Who Is Manasa Nadig EA?” Tune in to find out more about her, how she launched her practice MN Tax and Business Services PLLC, and who her ICP (Ideal client profile) is! You’ll learn what it takes to start a tax preparation and tax planning business as an immigrant. Once you hear her passion and understand her k...

In this episode of the International Money Café Podcast your co-hosts Jane Mepham CFP® and Manasa Nadig, EA explain exactly what you need to do to be considered a US tax resident. If you are a US citizen or a green card holder (permanent resident), by default, you are a US tax resident. If you don’t meet one of those conditions, the IRS has a cool test called the Substantial Presence Test (SBT) th...

In this episode of the International Money Café Podcast your cohosts Jane Mepham CFP® and Manasa Nadig, EA walk through the top 10 wealth-building mistakes they see when people are new in the US. When new to the US (Citizen, Green Card Holder, or foreign national on a nonimmigrant visa), there are certain steps you want to take to set yourself up for financial success. They talk about the importan...

In this episode of the International Money Café Podcast your cohosts Jane Mepham CFP® and Manasa Nadig, EA discuss how to go about building US credit history in the country when you are a brand-new immigrant. The US credit score is critical in the US, as it’s heavily relied on by institutions to judge you financially. The problem is you most likely have zero history when you first move to the US a...

A light-hearted episode, of the “International Money Café Podcast". Listen in as Manasa Nadig, EA, and Jane Mepham, CFP® describe their incredible journeys to the US from different continents. They discuss why they chose to move thousands of miles from their homes to a new land and become foreign nationals on different immigrant and non-immigrant visas, the initial challenges they faced (snow anyo...