Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. Marina Hernandez of Swiss American Wealth Advisors lists and debunks the second half of the top 16 tax myths for Americans living abroad in Part 2 of a two-part article.
Creative tax advice from neighbors, friends, and store clerks is not limited to the U.S. For Americans living abroad, tax misinformation tends to thrive in online expat communities where incorrect advice is quick to be shared and hard to be corrected, particularly in the age of coronavirus.
Given the punitive nature of offshore income and asset reporting penalties, understanding what is wrong about these myths is crucial. This is Part 2. For Part 1, check here.