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When given an assignment to work abroad, thinking about taxes and where you owe them can be the last thing on your mind.
In this episode, Malcolm is joined by Katrina Haynes, international tax expert and founder of Haynes and Associates, as they take a deep dive into understanding what happens with taxes when you are working away from your home country. They take a look at various scenarios on how taxation might occur.
In this episode, we discuss:
- The difference between an expatriate and foreign national
- The 2 Key exclusions to paying income taxes twice
- How banking in a foreign country is tracked
- What happens with your Social Security and 401(k) when you are abroad
- And more!
Tune into this episode for advice and hear real life scenarios on ways to handle your taxation abroad.
Related: Are You Asking the Right Questions of Your Financial Advisor?