For US tax payers in Israel, (or people whose tax preparers are resident in Israel), the IRS has just released a note delaying certain federal tax filings to October 7, 2024.
The list of tax filings included in the IRS release is summarized below. Please refer to the original release for details.
Estimated tax payments
Retirement plan contributions
Corporate tax extensions
Individual and business tax returns
Payroll and excise taxes
Other tax-related filings
This does not relate to State tax or FBAR filings. As a reminder,...
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We recently hosted a webinar on Estate Planning for the US Citizen living in Israel, with special guest speakers Mirit Hoffman, esq. and Osher Haleli, esq. The webinar shed some light on the complexities for US citizens living in Israel as they navigate the estate planning process across international borders. In this blog post, we will delve into the critical aspects and roadblocks of such planning.
But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.
What to do when you get kicked out of your US brokerage...
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Good news! Change number 237 of the Secure 2.0 Act was just announced. This latest change involves changes to how 401K catch up contributions for people over 50 earning more than $145,000 are treated.The SECURE Act changed everythingBefore the passage of the new Secure Act last year, employees over 50 with a 401K could make an extra contribution to their plan ($7,500 in 2023) and it was in pretax dollars, which would help lower taxable income. With the passing of the law, starting in 2024 if a person earned more than $145,000, then their catch-up contribution...
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WEBINAR DETAILS
Date: Wednesday, September 20th, 2023
Time: 7 pm Israel, 12 noon eastern
Israel estate planning for US expats can be complicated – but it doesn’t have to be! Attend our webinar and learn:
The three main documents needed for Estate Planning in Israel (a Medical Directive, an Enduring, or Durable, Power of Attorney, and a Will)
The importance of a longevity clause at a bank in joint accounts.
How an Israeli will governs US assets - and interacts with a US will if there is one
Nardis Advisors welcomes Mirit Hoffman, an...
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Moving to a new country brings with it a host of decisions. You’re constantly in new situations and there are many factors to take into account. Here are some mistakes expats make upon arriving in their new country of residence.
But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.
What to do when you get kicked out of your US brokerage account
Can one use a US Power of Attorney in Israel, (and vice versa)?
Immigrating to Israel
A guide to retiring in Israel
Checklist for moving to Israel
A guide to investing...
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Relocating to sunny Tel-Aviv has become an attractive option for young professionals both of Jewish and non-Jewish faith in the last few years, especially now that Covid has turned a lot of jobs remote. And what isn’t there to love? Gorgeous beaches, great food and a bustling nightlife scene only encapsulates a fraction of what this lively city has to offer. Also, Israel isn’t called the “Start Up Nation” for no reason; there are many job opportunities in the tech sector where speaking English is a job requirement.We’ve written these blogs about moving to...
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Preparing for your up and coming move to Israel? Don’t forget about your taxes! In this blog, we’ll cover the basics of taxation of US expats who are relocating to Israel.But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.Can one use a US Power of Attorney in Israel, (and vice versa)?Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelA guide to investing abroadIsrael expat case studiesSocial Security for expatsFinancial planning for US citizens living abroadSelling a house in Israel as...
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Let’s face it, no one likes being kicked out the club or the popular group. Whether it was the cool kids lunch table or the popular country club, no one is a fan of being excluded. One area where it is starting to happen more and more is for US expats living abroad who are being kicked out of their brokerage accounts. Many times, they are given only a couple of months’ notice, and this may lead to some sleepless nights. Usually, the reason expats can’t keep their brokerage accounts is because the brokerage firm or advisor do not want...
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When it comes to US expats living overseas, there can be an extra layer of complexity involved with the transfer of assets. When someone passes away, it is not always easy for a US citizen or even a non-US citizen living overseas to pass along their assets they own that are located in the US.But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.Can one use a US Power of Attorney in Israel, (and vice versa)?Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelA guide to investing abroadIsrael...
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The issue of comparative cost of living in Israel is highly specific to each of us - and depends on many factors such as earnings power, spending habits and so on. Some of the issues are of perception. It is often quoted that Tel Aviv is one of the most expensive cities in the world, but one can live modestly just a few miles away. And one can live more affordably in Tel Aviv itself (especially if you know where there are secret free or cheap parking spots) So, in general terms what is cheap and what is expensive in Israel versus the US?Let’s get into it.But...
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Date: Tuesday, May 30th
Time: 7 pm Israel, 12 noon eastern
Moving to Israel from the US brings with it a host of estate planning questions.
Do I need a will? Where does the will need to be written?
What country must Powers of Attorney be held in?
Should I set up a trust? How do I set up a trust for cross-border assets?
What if I live in Israel and I am receiving an inheritance from a US person?
How does one make the a cross border inheritance process as smooth as possible
Nardis Advisors welcomes Osher Felicia...
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We have been asked this question many times, especially by US citizens living in Israel who have assets in the US: “Can I use a US power of attorney in Israel?” Some are getting on in years and want to make sure that family members can look after their affairs, when they are no longer able to. Other times, it is related to the act of specifically giving instructions to a family member to transfer money from a US domiciled brokerage account to Israel (or any other country) for living expenses.Let’s put things into order here.But first, we’ve written these...
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As financial advisors to US expats in Israel, we often get questions about how to transfer money internationally. Our guidance may apply to expats or Americans abroad who have relocated to many different countries.But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelA guide to investing abroadIsrael expat case studiesSocial Security for expatsFinancial planning for US citizens living abroadSelling a house in Israel as a US citizenWhy US...
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People have asked us whether they can keep their US bank accounts and brokerage accounts while living abroad. Getting your accounts closed is a real risk – so here’s what you need to know about brokerage accounts for non-US residents.
Let’s divide our response into two separate parts:
US citizens living abroad, and;
Non-U.S. citizens living abroad who want to invest or have money in the US.
But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.
Immigrating to Israel
A guide to retiring in Israel
Checklist...
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The latest version of the SECURE Act, creatively named “SECURE Act 2.0”, brought with it many retirement changes for Americans, each accompanied by advantages and disadvantages. What does it mean, though, for Americans abroad? Should US expats be taking advantage of all the provisions the Act has to offer? Here’s why we’re not sure that a Roth 401k for US expats always makes sense.
SECURE Act 2.0: Potential Drawbacks
Some of the changes are:
The Required Minimum Distribution age for retirement accounts goes up to 73 in 2023 and will increase to 75 in...
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The United States takes a dim view on citizens who try to avoid taxes and/or hide assets overseas. These laws were formulated primarily to clamp down on criminal activity, for example drug dealers, tax avoiders and terrorists. Nevertheless, ordinary citizens sometime find themselves impacted for non-compliance regarding reporting of foreign assets. Yes, you can be fined even if you pay all your taxes but don’t fill out your forms correctly. Let’s work on reducing the headache, shall we?Forbes came out with an article describing situations where normative...
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This blog will cover the basics about Medicare for expats. This is useful for expats leaving the US and looking to live abroad. Enrolling in Medicare from abroad can be a challenge, a decision that creates many questions regarding the proper coverage and plan type. How do you know where to start?For the purposes of this blog, we will be discussing Parts A and B of Medicare. We’re about to get into that – but first, we’ve written these blogs about moving to and living in Israel which you may enjoy as well:Immigrating to IsraelA guide to retiring in IsraelChecklist...
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In this blog we’ll get into the implications of selling a house in Israel as a US Citizen. What is the possible impact on your finances, taxes, etc.?We’re about to get into that – but first, I’ve written these blogs about moving to and living in Israel which you may enjoy as well:Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelA guide to investing abroadIsrael expat case studiesSocial Security for expatsFinancial planning for US citizens living abroadWhat are the potential tax implications of selling a house in Israel?There...
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Here are some thoughts about investing abroad for US expats, Americans living abroad, and others who may be moving overseas. This guide may teach you what kinds of accounts you can use, based upon where you live, and your citizenship. Pay careful attention because knowing this information may help you reduce unwanted taxes.Before we get started, I’ve written these blogs about moving to and living in Israel which you may enjoy as well:Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelThe following principals related to investing...
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I am a US citizen, who runs a US-based investment advisory boutique, and who now lives in Israel. Rather than write a more financially-oriented piece, I’d like to share my personal experience on living in Israel as an American. The goal here is not to encourage you to pack your bags and immigrate tomorrow, but just to show that it is possible to make life changes, while not abandoning one’s past life. I’ve written these blogs about Israel which you may enjoy as well:Immigrating to IsraelA guide to retiring in IsraelChecklist for moving to IsraelLiving in...
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The current market and economic focus has been on higher interest rates, higher inflation and the more recent sell-off in stock and bonds. One thing that has been overlooked is the stronger dollar vs shekel, what it means for those who hold Israeli shekels, many of whom are expats or Americans living abroad.But first, we’ve written these blogs about moving to and living in Israel which you may enjoy.What to do when you get kicked out of your US brokerage accountCan one use a US Power of Attorney in Israel, (and vice versa)?Immigrating to IsraelA guide to...
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For Americans living abroad, saving for retirement has an added level of complexity. This blog discusses a few concepts that are useful to know about how US expats should use IRAs to fund their retirement strategies.
Before we get started, we are financial advisors serving US expats, with a focus on Israel. We’ve written these blogs on expat finance that you may wish to read:
Expat investing tips
A guide to retiring in Israel
Checklist for moving to Israel
Expat IRA tips - deductions and the Israel “tax holiday”
With tax season coming up there is the...
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US Social Security for expats – do you qualify?Americans living outside the United States have asked whether they are eligible to receive social security benefits. US Social Security for expats is a complex subject, so let us focus on some key general principles to assist you in considering how to maximize your benefits.Before we get started, we are financial advisors serving US expats, with a focus on Israel. We’ve written these blogs on expat finance that you may wish to read:Expat investing tipsA guide to retiring in IsraelChecklist for moving to IsraelExpat...
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Many times I am asked about the experience people tend to have living as an expat in Israel. This blog is about my observations and experiences both as a two-time immigrant to Israel, and also in listening to and learning from the experiences of others.
Before we get started, I’ve written these blogs about moving to and living in Israel which you may enjoy as well:
Immigrating to Israel
Checklist for moving to Israel
A guide to investing abroad
Living in Israel as an American immigrant
US expats investing in an IRA
Social Security for Expats
Five...
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Welcome to 2022. We believe this is going to be a year where many different geopolitical, economic, market and health outcomes are possible. That makes it a good time to assess the various risk factors that affect us all, including the question of whether Americans abroad should own funds that are not domiciled in the US. We’ll discuss this and other expat financial questions in this blog.
Before we get started, we want to mention that we are a financial advisor for expats and Americans abroad. We’ve written the following blogs on expat investing...
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Here are some things to consider regarding financial planning for year end for US citizens living abroad.
2021 ending on an unsettling note
As we end 2021, we are beset with many challenges; first and foremost, one’s health and well-being. The new Omicron variant has created much uncertainty. At the time of writing, my impression is that it is more contagious, but milder in its impact versus previous variants. But it has had the effect of having people spend more time at home once again. Many people do not want to return to office jobs.
We...
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As a US citizen living outside the US, one has to take US and local tax and reporting consequences into account when planning your investment strategy, and what type of investment vehicles to focus on. Here are five key points about expat investing that you may want to be aware of.Before we begin, please bear in mind that Uncle Sam insists that US citizens file a US tax return, irrespective of domicile. And even if you live in a tax haven such as Israel, you will still pay the higher of the local or the US tax rates on passive investments. While this blog...
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Retiring in Israel brings with it a host of questions. In this blog we will discuss the major concepts you may need to become familiar with if you are a US expat looking to retire in Israel.But first, make sure you download our checklist of what to know if you are relocating to Israel. https://www.youtube.com/watch?v=-RqHE89TJZc Resources for your Israel retirementBefore we get started, I’ve written these blogs about life in Israel which you may enjoy as well:Immigrating to IsraelChecklist for moving to IsraelA guide to investing abroadLiving in Israel as...
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Immigrating to Israel is a transition that encompasses many touch points – financial, psychological, cultural, lifestyle, etc. Here are some thoughts for those of you who intend to make Aliyah (immigrate to Israel), or those of you who are Israeli-born US expat citizens who plan to move back to Israel (Toshavim Hozrim).Before we get started, if you haven’t taken a look at our Israel relocation checklist, please do so.Immigrating to Israel – financial and health benefitsThere are beneficial resources in the US to help with the initial moving process - but...
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I recently returned to Israel after a three week trip to New York City. This note is meant to assist you in making the return process as smooth as possible. If you are going to be traveling to Israel during COVID-19, here are some things to keep in mind.Before I get into the blog, please be mindful that this blog is written in September 2021. Although the information is current for today, it may change at any moment. #1 Covid testingThe first order of business is to get a COVID test within 72 hours of travel. The timing of this is a little tricky as you also...
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US Federal tax filing deadlines extended for Israel residents
Norman Chait
October 17, 2023
For US tax payers in Israel, (or people whose tax preparers are resident in Israel), the IRS has just released a note delaying certain federal
Estate Planning for US Citizens Living in Israel: Navigating the Complexities for Global Families
Noa Chait
September 29, 2023
We recently hosted a webinar on Estate Planning for the US Citizen living in Israel, with special guest speakers Mirit Hoffman, esq. and Osher Haleli,
Expat 401k catch up contributions: not all they’re cracked up to be!
Norman Chait
September 11, 2023
Good news! Change number 237 of the Secure 2.0 Act was just announced. This latest change involves changes to how 401K catch up contributions for
Israel estate planning for US expats: Attend the Webinar!
Norman Chait
August 19, 2023
WEBINAR DETAILS Date: Wednesday, September 20th, 2023 Time: 7 pm Israel, 12 noon eastern Israel estate planning for US expats can be complicated – but
7 Expat Mistakes you’ll wish you didn’t make!
Norman Chait
August 15, 2023
Moving to a new country brings with it a host of decisions. You’re constantly in new situations and there are many factors to take into
5 things every college grad should know before moving to Tel-Aviv
Noa Chait
July 25, 2023
Relocating to sunny Tel-Aviv has become an attractive option for young professionals both of Jewish and non-Jewish faith in the last few years, especially now
Taxation of US Expats Relocating to Israel
Noa Chait
July 25, 2023
Preparing for your up and coming move to Israel? Don’t forget about your taxes! In this blog, we’ll cover the basics of taxation of US
What to do when you get kicked out of your US brokerage account
Norman Chait
July 25, 2023
Let’s face it, no one likes being kicked out the club or the popular group. Whether it was the cool kids lunch table or the
How do I pass assets overseas?
Norman Chait
June 28, 2023
When it comes to US expats living overseas, there can be an extra layer of complexity involved with the transfer of assets. When someone passes
How does the cost of living in Israel measure up vs. the US?
Norman Chait
May 10, 2023
The issue of comparative cost of living in Israel is highly specific to each of us – and depends on many factors such as earnings
Estate Planning for US Citizens Living in Israel – All you need to know in 60 minutes
Norman Chait
May 1, 2023
Date: Tuesday, May 30th Time: 7 pm Israel, 12 noon eastern Moving to Israel from the US brings with it a host of estate planning questions.
Can one use a US Power of Attorney in Israel, (and vice versa)?
Norman Chait
April 17, 2023
We have been asked this question many times, especially by US citizens living in Israel who have assets in the US: “Can I use a
What you need to know about transferring money internationally
Norman Chait
February 24, 2023
As financial advisors to US expats in Israel, we often get questions about how to transfer money internationally. Our guidance may apply to expats or
What expats need to know about Brokerage Accounts for non-US residents
Norman Chait
February 6, 2023
People have asked us whether they can keep their US bank accounts and brokerage accounts while living abroad. Getting your accounts closed is a real
Why US Expats should look before they leap into a Roth 401k
Mike Reed
January 23, 2023
The latest version of the SECURE Act, creatively named “SECURE Act 2.0”, brought with it many retirement changes for Americans, each accompanied by advantages and
Compliance with reporting of foreign assets: tips for US expats to avoid stress
Norman Chait
January 10, 2023
The United States takes a dim view on citizens who try to avoid taxes and/or hide assets overseas. These laws were formulated primarily to clamp
Everything you need about Medicare for expats!
Mike Reed
September 29, 2022
This blog will cover the basics about Medicare for expats. This is useful for expats leaving the US and looking to live abroad. Enrolling in
Selling a house in Israel as a US citizen
Norman Chait
August 31, 2022
In this blog we’ll get into the implications of selling a house in Israel as a US Citizen. What is the possible impact on your
A guide to investing abroad (where and without excess taxes) for US expats
Norman Chait
June 13, 2022
Here are some thoughts about investing abroad for US expats, Americans living abroad, and others who may be moving overseas. This guide may teach you
Living in Israel as an American immigrant
Norman Chait
May 25, 2022
I am a US citizen, who runs a US-based investment advisory boutique, and who now lives in Israel. Rather than write a more financially-oriented piece,
What the strengthening dollar vs shekel means for US expats in 2023
Norman Chait
May 9, 2022
The current market and economic focus has been on higher interest rates, higher inflation and the more recent sell-off in stock and bonds. One thing
US expats investing in an IRA: important tips to know!
Norman Chait
April 8, 2022
For Americans living abroad, saving for retirement has an added level of complexity. This blog discusses a few concepts that are useful to know about
Social Security for Expats
Norman Chait
March 27, 2022
US Social Security for expats – do you qualify? Americans living outside the United States have asked whether they are eligible to receive social security
Living as an expat in Israel
Norman Chait
March 11, 2022
Many times I am asked about the experience people tend to have living as an expat in Israel. This blog is about my observations and
Should Americans abroad own non-US domiciled funds?
Norman Chait
January 26, 2022
Welcome to 2022. We believe this is going to be a year where many different geopolitical, economic, market and health outcomes are possible. That makes it
Year-end financial planning for US citizens living abroad
Norman Chait
December 29, 2021
Here are some things to consider regarding financial planning for year end for US citizens living abroad. 2021 ending on an unsettling note As we
Five key expat investing points you may want to know!
Norman Chait
November 24, 2021
As a US citizen living outside the US, one has to take US and local tax and reporting consequences into account when planning your investment
5 tips for US expats Retiring in Israel
Norman Chait
October 29, 2021
Retiring in Israel brings with it a host of questions. In this blog we will discuss the major concepts you may need to become familiar
Immigrating to Israel: expat finance tips & more!
Norman Chait
September 28, 2021
Immigrating to Israel is a transition that encompasses many touch points – financial, psychological, cultural, lifestyle, etc. Here are some thoughts for those of you
Traveling to Israel during COVID-19
Norman Chait
September 1, 2021
I recently returned to Israel after a three week trip to New York City. This note is meant to assist you in making the return
