How Expat Clients Can Legally Slash Their Tax Bill

03/22/24 • 54 min

Earmark Podcast | Earn Free Accounting CPE

Do you have clients living or working abroad who could save big on their taxes? In this episode, expat tax specialist Vincenzo Villamena outlines creative strategies US citizens overseas can use to legally reduce their tax burden. Learn how your expat clients can exclude $120,000 in foreign earned income, set up offshore corporate structures to cut their tax rate in half, eliminate 15% self-employment tax, and more.

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Chapters

(00:50) - Welcome Vincenzo to the Show
(01:50) - Exploring Expat Taxation with Vincenzo Villamena
(03:27) - Vincenzo's Journey from Corporate America to Entrepreneurship Outside of the US
(09:53) - The Remote Work Revolution and Its Impact
(12:36) - Navigating the Complex World of Expat Taxes
(13:00) - Where are Most of Your Clients?
(15:05) - Strategies for Expats to Optimize Taxes
(24:10) - Understanding Corporate Structures and Tax Deferral
(24:20) - The Good, the Bad, and the Planning of Tax Strategies
(28:18) - What Work Do We Have to Do to Get These Benefits?
(30:23) - Comprehensive Service Offerings: From Setup to Compliance
(31:57) - How Do You Charge For Your Services?
(33:12) - The Exponential Savings of Offshore Structuring
(35:36) - Exploring the Vibrant Culture of Carnival in Brazil
(37:22) - Building a Strong Remote Team Culture
(41:57) - Leveraging Technology for Remote Collaboration
(45:04) - A Day in the Life of an Expat Entrepreneur
(50:38) - The Transformative Experience of Living Abroad
(53:23) - Wrapping Up: Insights from an Expat Tax Expert

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Connect with Our Guest, Vincenzo Villamena

Website: https://onlinetaxman.com/
Website: https://globalexpatadvisors.com/
LinkedIn: https://www.linkedin.com/company/online-taxman/
Twitter: Guest Twitter
Facebook: https://www.facebook.com/OnlineTaxman?mibextid=LQQJ4d
Instagram: https://instagram.com/onlinetaxman?igshid=OGQ5ZDc2ODk2ZA%3D%3D&utm_source=qr

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

Sponsor
ShareFile - https://earmarkcpe.promo/sharefile

Chapters

(00:50) - Welcome Vincenzo to the Show
(01:50) - Exploring Expat Taxation with Vincenzo Villamena
(03:27) - Vincenzo's Journey from Corporate America to Entrepreneurship Outside of the US
(09:53) - The Remote Work Revolution and Its Impact
(12:36) - Navigating the Complex World of Expat Taxes
(13:00) - Where are Most of Your Clients?
(15:05) - Strategies for Expats to Optimize Taxes
(24:10) - Understanding Corporate Structures and Tax Deferral
(24:20) - The Good, the Bad, and the Planning of Tax Strategies
(28:18) - What Work Do We Have to Do to Get These Benefits?
(30:23) - Comprehensive Service Offerings: From Setup to Compliance
(31:57) - How Do You Charge For Your Services?
(33:12) - The Exponential Savings of Offshore Structuring
(35:36) - Exploring the Vibrant Culture of Carnival in Brazil
(37:22) - Building a Strong Remote Team Culture
(41:57) - Leveraging Technology for Remote Collaboration
(45:04) - A Day in the Life of an Expat Entrepreneur
(50:38) - The Transformative Experience of Living Abroad
(53:23) - Wrapping Up: Insights from an Expat Tax Expert

Sign up to get free CPE for listening to this podcast

https://earmarkcpe.com

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Connect with Our Guest, Vincenzo Villamena

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

Previous Episode

Hollywood Accounting: A CPA's Journey Into Entertainment

Blake’s conversation with Kendale King, CPA, gives an insider’s view into the intriguing world of entertainment finance. Kendale shares his transition from Big Four auditor to accounting for multi-million dollar studio deals. You’ll see a new side of accounting blending creativity with business strategy. Gain insight into entertainment studios’ complex “Hollywood Accounting” practices around profit participation and residuals. Understand Kendale’s integral role as crypto assets shape future accounting standards. Appreciate his vision to directly integrate CPA abilities into AI applications. If you want to hear an unconventional accounting journey and glimpse the opportunities for accountants to impact media and emerging technologies, join us for Kendale’s exclusive look behind the scenes.

Sponsor
Client Hub - https://earmarkcpe.promo/clienthub

Chapters

(00:45) - Welcome Kendale to the Show
(01:53) - Favorite Gigs and the Impact of DreamCon
(06:26) - The Transition from Deloitte to the Entertainment Industry
(08:33) - Making the Leap to LA: From Audit to Entertainment Accounting
(14:14) - Deep Dive into Entertainment Accounting with Netflix
(16:29) - Understanding the Complexities of Content Accounting
(22:37) - Why do Studios Shelve Finished Films?
(26:51) - The Intricacies of Hollywood Accounting Explained
(34:40) - The Evolution of Kendale's Own Firm: KCK
(40:16) - The Pricing Puzzle: How KCK CPA Approaches Client Engagements
(43:13) - How Can Accountants Learn the Entertainment Business?
(46:40) - How Did Kendale Get into the Crypto Space?
(49:27) - How Did You Get Invovled with FASB?
(55:50) - Exploring AI in Accounting: The Future is Now
(57:53) - Where to Reach Kendale

Sign up to get free CPE for listening to this podcast

https://earmarkcpe.com

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Connect with Our Guest, Kendale King

LinkedIn: https://www.linkedin.com/in/kendale-king-cpa-90916721/

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

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(This episode originally aired on February 28, 2024 on Earmark Webinars+)

Sponsor
Client Hub - https://earmarkcpe.promo/clienthub

Chapters