How to Determine Your Israeli Residency Status: a guide for Expats
If you spend part of your time both in Israel and the US, whether as an expat or a digital nomad of the post Covid economy, it can be difficult to ascertain whether you are a resident of Israel or not. So, how do you know if you are an Israeli resident and liable for local taxation? Let us delve into the key factors and considerations. Before we get started, 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...
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Everything a US expat needs to know about Social Security - and isn't afraid to ask!
In this webinar with Social Security expert Tom Clark, we will cover the most pressing questions that a US expat would have about Social Security, such as: Eligibility, Spousal benefits, Pension offsets (WEP), When to start taking it, & more! Date: Tuesday, May 28th Time: 7 PM Israel, 12 PM Eastern time Speakers: Tom Clark, Social Security speaker and consultant Norman H. Chait, CFA – Managing Principal, Nardis Advisors LLC Register below or email nchait@nardisadvisors.com and we’ll see you there! SIGN...
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Can I Get Social Security Benefits While Living Outside the US?
Social security can be a tricky subject to navigate, especially if one is working and living overseas. So, can a US citizen working abroad still be eligible to earn Social Security credits toward retirement? The answer lies in the US’s totalization agreements with specific countries.  Before we get started, 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...
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Retiring in Israel for US Citizens – Taxation and Planning Issues
Retirement and taxes for US persons in Israel can indeed be a complex endeavor, especially if the retirement assets (e.g. IRA and 401k) are in the US. This webinar will focus on the key issues in preparing for your retirement, specifically taxation and financial planning. We will also touch briefly on Social Security and inheritance issues. Date: April 3rd, 2024 Time: 7 PM Israel, 12 PM Eastern time Speakers: Binyamin Radomsky, CPA – Partner, Aboulafia and Co Norman H. Chait, CFA – Managing Principal, Nardis Advisors LLC Register below...
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What to do when the Israel Ten Year Tax Holiday Ends
WEBINAR DETAILSDate: Tuesday, February 6th, 2024Time: 7 pm Israel, 12 noon eastern The Israeli Income Tax Ordinance provides benefits to new immigrants (Olim) and returning citizens, making Aliyah an attractive option. But what do you do when the 10 Year Tax Holiday ends?Attend our webinar and learn:How the Israel 10 Year Tax Holiday benefits Olim and returning residentsWhat steps you need to take to prepare for it endingWhat you may not realize about pension income, foreign currency deposits, and income taxNardis Advisors...
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Estate Planning Diagnostic Session for US Expats Living in Israel
Estate planning can be a complicated endeavor, especially as a US expat living in Israel. There are three important Israeli documents: A will Enduring power of attorney Medical directive https://www.youtube.com/watch?v=dyUdpXhrBgs   Even with these three documents in order, certain challenges may arise in elder care planning involving assets in both Israel and the US. Working with specialized financial and legal professionals who are knowledgeable in this area may help one navigate these complexities and begin estate planning with peace of mind. Is...
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How to best use Tax Offsets in Year-End Tax Planning
As 2023 is ending, it’s more important than ever to start your year-end tax planning. One may consider several strategies to reduce one’s taxes. These may include: Maximizing contributions to tax-free retirement accounts, such as 401k plans or Individual Retirement Accounts (IRAs). Charitable contributions, Increasing allocation to tax-free investments such as municipal bonds. Tax loss harvesting. We will focus today on this last category, which deals with how to offset tax losses with tax gains and vice versa. At the end, we will discuss...
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US Federal tax filing deadlines extended for Israel residents
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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Estate Planning for US Citizens Living in Israel: Navigating the Complexities for Global Families
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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Expat 401k catch up contributions: not all they’re cracked up to be!
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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7 Expat Mistakes you’ll wish you didn’t make!
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 accountCan 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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5 things every college grad should know before moving to Tel-Aviv
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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Taxation of US Expats Relocating to Israel
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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What to do when you get kicked out of your US brokerage account
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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How do I pass assets overseas?
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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How does the cost of living in Israel measure up vs. the US?
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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Can one use a US Power of Attorney in Israel, (and vice versa)?
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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What you need to know about transferring money internationally
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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What expats need to know about Brokerage Accounts for non-US residents
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 IsraelA guide to retiring in IsraelChecklist for moving to IsraelA...
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Why US Expats should look before they leap into a Roth 401k
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 DrawbacksSome of the changes are:The Required Minimum Distribution age for retirement accounts goes up to 73 in 2023 and will increase to 75 in 2033.The...
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Compliance with reporting of foreign assets: tips for US expats to avoid stress
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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Everything you need about Medicare for expats!
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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Selling a house in Israel as a US citizen
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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A guide to investing abroad (where and without excess taxes) for US expats
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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Living in Israel as an American immigrant
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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What the strengthening dollar vs shekel means for US expats in 2023
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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US expats investing in an IRA: important tips to know!
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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Social Security for Expats​
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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Living as an expat in Israel
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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Should Americans abroad own non-US domiciled funds?
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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