Tax Planning Before Moving Abroad: The Window Before You Leave Is When the Most Important Decisions Get Made
Once you leave the United States, a number of significant tax and financial planning opportunities close permanently — or become much more expensive and complicated to address. Mark Anderson, CPA is a US-licensed CPA already based overseas, with a practice built exclusively around Americans living abroad. He understands both the IRS rules and the practical realities that no domestic accountant has ever personally navigated.
Living Abroad in a Lower-Cost Country Does Not Automatically Reduce Your US Tax Bill
This is the most important thing to understand before you pack your bags. The United States is one of only two countries in the world that taxes its citizens on worldwide income — regardless of where they live, what they earn, or what they pay in taxes to a foreign government. Moving to Thailand, Portugal, or anywhere else does not change your US filing obligations by itself.
What can reduce your US tax bill are specific provisions: the Foreign Earned Income Exclusion (Form 2555, up to $130,000 for 2025), the Foreign Tax Credit (Form 1116), the housing exclusion, and careful planning of when and how income is recognized around the departure date. But these require elections, documentation, and timing that must be managed deliberately — and many of the most impactful moves must be made before you leave.
The purpose of a pre-departure consultation with Mark Anderson, CPA is not to find loopholes. It is to identify legitimate planning opportunities, avoid common and costly mistakes, and enter your first year abroad on solid footing — financially, legally, and with the IRS.
Background: Sarah is a California resident planning to move to Portugal in March 2025. She has $80,000 in long-term capital gains she was planning to realize later in the year, plus an opportunity for a Roth conversion. Her employer offers a year-end bonus.
Without pre-departure planning: Sarah realizes the gains in November from Portugal, assuming her move eliminates California tax. It does not — California does not automatically release non-residents from tax on gains from California-source assets, and her domicile exit was not properly documented. The Roth conversion, executed in a high-income year, triggers unnecessary federal tax. The bonus is paid before the FEIE qualifying period starts.
With pre-departure planning: Mark reviews her capital gains candidates — some are realized in December before departure to capture a California partial-year benefit, others are deferred until she qualifies for the FEIE and her federal rate is lower. The Roth conversion is timed for her first full year abroad when her taxable income is reduced. The bonus is negotiated to defer into Q2, after she meets the Physical Presence Test threshold. California domicile exit is documented in January with specific steps taken before departure.
This is an illustrative scenario, not a guarantee of outcome. Tax results depend on individual facts.
Who This Consultation Is For
This is not a general expat life consultation. It is a tax and financial planning session for US citizens who are seriously planning or actively preparing to move abroad. You are the right client if:
- You have a departure date in mind within the next 6–18 months
- You have a destination country in mind (even if not finalized)
- You have meaningful assets, income, or equity compensation that will be affected by the move
- You are leaving a state with an aggressive tax authority — particularly California or New York
- You own a business, have stock options or RSUs, or expect significant capital events near the departure date
- You have retirement accounts (IRA, 401(k), Roth) and want to understand what happens to them abroad
- You want to understand the FBAR and FATCA reporting requirements before they become penalties
- You want one authoritative source who understands both the US tax rules and what life actually looks like on the other side
20 Pre-Departure Planning Areas Covered in Your Consultation
Every client's situation is different — some of these areas will be highly relevant, others less so. Mark reviews all of them during the consultation and focuses on the items that matter most for your specific circumstances, destination, income type, and asset profile.
State Tax Domicile Termination
Changing your mailing address is not enough to end state tax residency. California and New York determine residency based on domicile — your true, permanent home. Mark explains the specific steps required to properly terminate domicile in your state, what documentation you need to keep, and what the aggressive audit risk looks like from California's Franchise Tax Board or New York's Department of Taxation.
Establishing & Documenting Foreign Domicile
Ending one domicile requires establishing another. Simply arriving in a foreign country is not enough. Mark explains what constitutes evidence of a new domicile — lease agreements, utility accounts, local bank accounts, local registrations — and how to build a contemporaneous record that supports your position if the old state challenges it later.
Capital Gains & Loss Timing Review
Your effective federal and state tax rates on capital gains will change around the departure date — often significantly. Mark reviews your unrealized gains and losses and helps you decide which to realize before departure (to use current rates, absorb state tax benefits, or harvest losses) and which to defer (until the FEIE or lower marginal rates apply). This is one of the highest-value planning areas for clients with substantial portfolios.
Accelerating Retirement Contributions
If your post-departure income will be largely excluded under the Foreign Earned Income Exclusion, your IRA contribution eligibility may drop to zero — because contributions require non-excluded earned income. Contributing the maximum to your IRA, 401(k), or Solo 401(k) before departure while you still have US-source income may be the last opportunity to do so at full capacity.
Roth Conversion Timing
Whether to complete a Roth conversion before or after moving depends on your income trajectory, marginal rates, and the destination country's treatment of Roth distributions. Mark models both scenarios — pre-departure conversion in a high-income year vs. post-departure conversion when the FEIE reduces federal income — and identifies the timing that minimizes total tax cost over time.
Brokerage & Retirement Account Review
Many US brokerage firms — including some of the largest — restrict or close accounts once a client provides a foreign address, sometimes forcing liquidation of positions at an inconvenient time. Before departure, Mark reviews your brokerage and retirement accounts to identify any custodians likely to restrict access, and advises on repositioning or consolidation well before the move. This is a practical issue that catches many expats completely off guard.
Preserving US Bank Accounts & Credit Cards
Closing your US bank accounts before moving seems logical — but it is one of the most common mistakes Mark sees. IRS refunds, Social Security payments, and US-source income distributions have nowhere to go. Many US financial institutions will not open new accounts for non-residents. Keep at least one US checking account and one US credit card open and active before departure. Mark advises on which account types are most expat-friendly and how to maintain them from abroad.
US Mailing Address Arrangement
A reliable US mailing address is more than a convenience — it is essential for receiving IRS correspondence, maintaining bank accounts, receiving brokerage statements, and many financial institution account requirements. Options include a trusted family member's address or a commercial mail-forwarding service such as Anytime Mailbox or Earth Class Mail. Mark advises on the differences and what documentation to retain for state domicile purposes.
Maintaining a US Phone Number
Two-factor authentication for US banks, the IRS online portal, and brokerage accounts almost universally requires a US phone number for SMS verification. Losing your US number after moving abroad can lock you out of accounts that are extremely difficult to reaccess from overseas. Mark recommends keeping a US number active — options include VoIP services, a dormant SIM, or a low-cost US phone plan that works internationally.
FEIE & Foreign Tax Credit Introduction
The Foreign Earned Income Exclusion (Form 2555) and the Foreign Tax Credit (Form 1116) are the two primary tools for reducing US tax on income earned abroad. Which one is better depends on your destination country's tax rate, your income type, and your retirement contribution goals. Mark explains both, walks through the qualifying tests (330-day Physical Presence Test vs. Bona Fide Residence Test), and identifies which will most likely apply in your first year abroad.
FBAR & FATCA — Introduction & First-Year Planning
Once you open a foreign bank account — which most expats do within weeks of arriving — the Foreign Bank Account Report (FBAR, FinCEN Form 114) requirement begins. If the combined balance of your foreign accounts exceeds $10,000 at any point during the year, an FBAR is due by April 15 (auto-extended to October 15). FATCA (Form 8938) applies at higher thresholds. Penalties for non-willful FBAR failure start at $10,000 per year per account. Mark introduces both requirements before they become compliance problems.
PFIC Warning — Foreign Investment Products
Foreign mutual funds, unit trusts, ETFs listed on foreign exchanges, and many local investment products are classified as Passive Foreign Investment Companies (PFICs) under US tax law. The PFIC rules are punitive: gains are taxed at the highest ordinary income rate (up to 37%) plus interest charges, unless you make a timely annual election on Form 8621. Mark warns pre-departure clients about PFICs specifically because the mistake is very easy to make — a local bank recommends a "unit trust" that sounds benign — and extremely expensive to unwind.
Social Security — Payments & Taxation Abroad
Social Security benefits can generally be paid to US citizens living abroad, but the mechanics vary: direct deposit to a US account is seamless; direct deposit to a foreign account depends on the country. Some countries tax Social Security income under local rules. Self-employed expats continue paying into Social Security — unless a totalization agreement with the destination country provides an exemption. Mark reviews your specific Social Security situation and explains what to expect.
Destination Country Tax Rules & Pre-Arrival Planning
Some countries offer special non-domicile or new-resident tax regimes for incoming expatriates — Portugal's NHR (now reformed), Thailand's recent changes to remittance taxation, and others. Timing your arrival to take advantage of these regimes — or to avoid triggering residency before a favorable regime applies — can be significant. Mark cannot provide formal local tax advice (that requires a local advisor), but he identifies the planning opportunities and coordinates your US strategy with the likely local tax treatment.
Business Ownership & Remote Work Compliance
If you own a business or plan to work remotely for a US employer from abroad, additional issues arise: potential permanent establishment of the US employer in the foreign country, self-employment tax obligations (or totalization agreement exemptions), payroll compliance, and — if you own a foreign corporation — annual Form 5471 reporting requirements with a $10,000 automatic penalty per missed form. Mark reviews your business structure and remote work arrangement as part of the pre-departure consultation.
Large Transaction Timing — Stock Options, Bonuses, Business Sales
Stock option exercises, RSU vesting events, business sales, large charitable gifts, and deferred compensation payouts all have different tax consequences depending on whether they occur before or after departure, before or after FEIE qualification, and in which state you are then resident. Mark reviews any known near-term large transactions and advises on optimal timing where flexibility exists.
Charitable Contribution Timing
If you are a significant charitable giver, the deductibility of contributions under US law depends on the donee organization being a qualified US charity. Contributions to foreign charities — however reputable — are generally not deductible for US federal tax purposes. Accelerating planned US charitable contributions before departure (while you still have high US taxable income) may produce better tax outcomes than making them from abroad in a lower-income year.
Healthcare & Insurance Transition
The Affordable Care Act's individual mandate was reduced to zero at the federal level, but some states still impose penalties for gaps in coverage. More practically, understanding how your employer-sponsored health insurance, COBRA continuation, Medicare enrollment (if relevant), and foreign health insurance interact with each other before, during, and after the move helps avoid expensive coverage gaps and enrollment timing errors.
Year-of-Departure Part-Year Return Planning
Your departure year tax return — the year you actually leave — is uniquely complex. It is a part-year resident return for your state (with prorated deductions and credits), a full-year federal return, potentially a split-year FEIE claim if you qualify for the Physical Presence Test using a period spanning two calendar years, and possibly includes deferred income items triggered by departure. Mark prepares the departure-year return as part of ongoing client engagements that begin with pre-departure planning.
Pre-Departure Records Checklist
Mark provides every pre-departure client with a comprehensive records checklist before they leave: prior federal and state tax returns (7 years minimum), all W-2s and 1099s, cost-basis records for all brokerage accounts (critical — missing cost-basis records cause significant problems when assets are sold years later), Social Security statements, retirement account statements, property closing documents, and evidence supporting the termination of state domicile. Documents that exist in the US are much easier to obtain before you leave than after.
The Pre-Departure Planning Window — When Each Decision Should Be Made
Pre-departure planning is not something to do the week before your flight. Some decisions need to be made 12–18 months before departure to be effective. The earlier you engage, the more options you have. Here is a rough framework for when each planning area should be addressed.
12–18 Months Before Departure
State domicile exit strategy — especially California or New York. Brokerage and retirement account review (some transfers take months). Business structure review and restructuring if needed. Roth conversion analysis and multi-year capital gains planning. Stock option exercise planning for multi-year vesting schedules. Social Security and Medicare enrollment review (if near eligibility).
3–6 Months Before Departure
Final capital gains and loss harvest decisions. Retirement contribution acceleration. Roth conversion execution (if pre-departure timing is optimal). Charitable contribution decisions. Bonus and compensation timing negotiations with employer. US bank account and credit card preservation setup. US mailing address arrangement. Pre-departure records gathering and digitization.
Final 30–60 Days
State domicile termination documentation finalized (driver's license surrender, voter registration, property lease termination). US phone number continuity plan confirmed. Mail forwarding service activated. Final paycheck and benefit timing confirmed. FBAR and FATCA introduction — know what to expect in year one. IRS online portal access confirmed with US phone number while still in country.
⚠️ The California FTB and New York Tax Department are aggressive. Both states actively audit former residents who claim non-residency. California will examine whether you retained a home available for your use, maintained a California driver's license, kept California professional licenses, filed California tax returns from abroad, or maintained strong California connections. Mark reviews your specific ties to your former state and advises on which ones must be severed before departure — and which ones can remain without creating residency risk.
State Domicile Exit — What You Actually Need to Do
Actions that establish non-residency in high-tax states:
- Sell your home or lease it to an unrelated third party
- Surrender your driver's license and vehicle registration
- Cancel voter registration or re-register in a state with no income tax
- Close or transfer state-specific bank accounts
- Update professional license addresses
- File a final part-year resident state return in the year of departure
- Keep contemporaneous documentary evidence of all the above
California-specific: File FTB Form 3840 if you have California-source deferred compensation or installment sales that will generate California-sourced income after departure. California taxes non-residents on California-source income regardless of where they live.
Mark Is Already Overseas — And That Changes Everything About the Advice
A domestic CPA can prepare the tax calculations. But Mark Anderson, CPA has been living and working abroad for years, with a practice built entirely around Americans outside the United States. He has personally navigated the banking restrictions, the foreign address problems, the FATCA inquiries from foreign banks, and the practical realities that purely domestic advisors have never encountered. That experience is embedded in every pre-departure consultation.
Knows Which Banks Actually Work
Mark knows which US brokerage firms restrict accounts for non-residents, which ones are expat-friendly, and how to transfer positions before departure without triggering unnecessary tax events. He also knows which foreign banks are most accommodating for Americans — and which ones will ask you to leave because of FATCA compliance costs.
Has Solved the Address Problem Personally
Every American who moves abroad eventually faces the same cluster of problems: IRS mail that doesn't forward, banks that require a US address to stay open, and financial institutions that freeze accounts when they discover a foreign address. Mark has dealt with all of these and advises pre-departure clients on exactly how to set up a US address arrangement that works long-term.
Understands the Other Side
A domestic CPA can tell you what the IRS rules say. Mark can also tell you how those rules interact with the practical tax environment in your destination country — which local tax advisors to look for, what foreign tax authority documentation you will need for the foreign tax credit, and what financial products to avoid in your host country because of PFIC exposure.
Exclusively Focused on Expat Tax
Mark's entire practice — 15+ years, 50+ countries — is built around Americans abroad. This is not a niche he added to a domestic practice. Every client, every form, every tax treaty analysis he has ever done involves a US person living outside the United States. That depth of focus is visible in the specificity of his advice.
Flat-Fee, Transparent Pricing
Pre-departure consultations are priced at a flat fee quoted after the initial 30-minute free review — based on the complexity of your situation, number of planning areas, and any follow-up work needed. No hourly billing surprises. Full pricing details at our rates page.
Fortune 500 Tax Background
Before building his expat practice, Mark had a Fortune 500 corporate tax background. That means complex structuring, multi-entity analysis, stock compensation taxation, and cross-border business compliance are not new territory. Clients with equity compensation, business ownership, or significant investment portfolios get advisor-level analysis, not a generic checklist.
Pre-Departure Planning vs. Fixing Problems After You've Already Left
Most expat tax firms only serve people who are already abroad. They are set up to file annual returns, not to optimize the transition. The result is that many expats who could have avoided costly mistakes simply never got the right advice at the right time.
| Issue | Addressed Before Departure | Discovered After Moving |
|---|---|---|
| California domicile not properly terminated | ✓ Prevented with documentation strategy | ✗ FTB audit — years of back taxes, interest, penalties |
| US brokerage forces account closure | ✓ Pre-transfer to expat-friendly broker | ✗ Forced liquidation, unexpected capital gain event |
| FBAR not filed in year 1 | ✓ Aware and compliant from day one | ✗ $10,000+ penalty per account for non-willful failure |
| Purchased foreign mutual fund (PFIC) | ✓ Warned before purchase, avoided PFIC exposure | ✗ Punitive PFIC tax + interest; complex Form 8621 required annually |
| US bank accounts closed before moving | ✓ Kept open with forwarding address strategy | ✗ IRS refunds lost, Social Security payment problems, locked accounts |
| Roth conversion not timed correctly | ✓ Modeled pre- vs. post-departure — optimal year selected | ✗ Conversion income taxed at suboptimal rate; destination country may also tax it |
| Capital gains realized from abroad on California assets | ✓ Realized before departure or deferred strategically | ✗ California still taxes California-source gains for non-residents |
| IRA contributions cease — FEIE excludes all earned income | ✓ Maximized contributions before departure window closes | ✗ Years of lost contribution room; no retroactive fix available |
Flat-Fee Pricing — Quoted After Your Free 30-Minute Review
Pre-departure consultations are priced based on the complexity of your situation — number of planning areas, state of departure, asset types, business ownership, and any anticipated large transactions. All fees are quoted upfront after the free consultation. No hourly billing. Full details at our rates page.
Straightforward situation: W-2 employee moving abroad with no business ownership, modest portfolio, non-aggressive state of departure. Covers FEIE/FTC introduction, FBAR/FATCA primer, bank account guidance, and records checklist.
California or New York departure, equity compensation, investment portfolio with unrealized gains, Roth conversion analysis, business ownership, or significant capital transaction timing. Comprehensive planning with written summary.
- Free 30-minute initial consultation
- Pre-departure records checklist
- FBAR & FATCA introduction
- FEIE vs FTC framework
- Bank account and phone guidance
- Year-round follow-up support
The cost of this consultation is typically recovered in the first planning decision it informs. Avoiding even one year of California back-tax exposure, one forced brokerage liquidation, or one year of FBAR penalties covers the cost many times over. This is the highest-ROI engagement most pre-departure clients ever make.
From First Contact to Pre-Departure Ready — The Process
Mark works with pre-departure clients 100% online from any location. You do not need to be in a specific time zone or country — everything happens via secure video call, email, and document sharing. Here is exactly how the process works.
Free 30-Minute Initial Consultation
Mark reviews your planned departure date, destination country, state of current residence, income type (W-2, self-employed, both), assets and portfolio overview, and any known large transactions or events near the departure date. He identifies the highest-priority planning areas for your situation and provides a flat-fee quote for the full consultation.
Information Gathering
You share prior tax returns, brokerage statements, retirement account statements, and other relevant documents through a secure portal. Mark provides a specific document request list based on your situation — you only share what is actually needed.
Full Planning Consultation (60–90 Minutes)
Mark works through all relevant planning areas with you — capital gains timing, state domicile exit, retirement contributions, Roth conversion analysis, brokerage review, and any other items specific to your situation. You leave with a clear understanding of what to do, in what order, and before which dates.
Written Planning Summary
For complex consultations, Mark provides a written summary of the planning recommendations, timeline, action items, and any open questions to discuss with local advisors in your destination country. This document serves as your pre-departure planning roadmap.
Year-of-Departure Return & Ongoing Annual Filing
Your year-of-departure return is the most complex you will file. Mark prepares it as a natural continuation of the pre-departure engagement — he already knows your situation in detail. Many pre-departure clients become long-term annual filing clients, with ongoing expat tax returns, FBAR filings, and year-round advisory access. See full pricing for ongoing services.
Questions Americans Ask Before Moving Abroad
Honest answers to what pre-departure clients ask Mark most often — before they book the flight.
Not automatically. The US taxes its citizens and green card holders on worldwide income regardless of where they live. Moving to a country with lower or no income tax does not reduce your US federal tax liability on its own. What can reduce it are specific tax provisions — principally the Foreign Earned Income Exclusion (Form 2555, up to $130,000 for 2025) and the Foreign Tax Credit (Form 1116) — but these require proper elections and careful planning to apply correctly. The purpose of pre-departure planning is to position you to use these benefits fully from the start, and to avoid the mistakes that prevent many expats from claiming them.
Terminating state tax residency requires more than changing your mailing address. States — particularly California and New York — determine residency based on domicile: your true permanent home and the place you intend to return to. Before leaving, you should sell or lease your home to an unrelated third party, surrender your driver's license and vehicle registration, update voter registration, close or transfer state-specific bank accounts, update professional license addresses, and file a final part-year resident return asserting non-residency. In California, you should also be aware that California-source income (from California-based employers, California real estate, California partnerships) remains taxable to non-residents. Mark reviews your specific state situation during the pre-departure consultation.
Yes — and this is one of the most practical pieces of advice for anyone preparing to move. Closing US bank accounts before you go seems sensible but often creates serious downstream problems: IRS refunds have nowhere to go, Social Security payments cannot be deposited, brokerage accounts may freeze or close, and two-factor authentication for US financial services fails without a US phone number. Keeping at least one US checking account and one US credit card active before departure is strongly recommended. Once you have a foreign address on file with US financial institutions, reopening accounts or restoring access can be very difficult — some institutions simply will not do it.
The Foreign Earned Income Exclusion (FEIE, Form 2555) allows qualifying US citizens living abroad to exclude up to $130,000 of foreign-earned income from US federal income tax in 2025. To qualify, you must meet either the Physical Presence Test (330 full days abroad in a 12-month period) or the Bona Fide Residence Test (residing in a foreign country for a full calendar year). Critically, the FEIE does not apply to capital gains, investment income, or self-employment tax — and it can reduce your IRA contribution eligibility to zero in years when all earned income is excluded. Pre-departure planning helps you understand which qualifying test will apply in your first year abroad and how to structure your departure to meet it as early as possible.
This depends on your income trajectory, marginal rates, and the tax treatment of Roth distributions in your destination country. If you expect your US taxable income to be significantly lower after the move — because the FEIE will exclude most of your earned income — completing the Roth conversion before departure (in a high-income year) can be advantageous, since conversion income is taxed at ordinary income rates and the FEIE does not apply to it. However, some destination countries (including many in Europe) tax Roth distributions as ordinary income, which can eliminate the Roth's advantage for that country's purposes. This is a nuanced, multi-variable calculation that Mark evaluates individually during the pre-departure consultation.
Many US brokerage firms restrict or close accounts once the holder provides a foreign address. This can mean forced liquidation of investment positions at an inopportune time — triggering taxable capital gains you did not intend to realize. Before departure, review all brokerage and retirement accounts to confirm the custodian's foreign-address policy. Some firms (notably Charles Schwab International and Interactive Brokers) are more accommodating for expats than others. If a broker will not maintain your account with a foreign address, transferring positions to a more expat-friendly custodian before you leave is the preferred solution — but the transfer itself may take 4–6 weeks. Mark flags custodian-specific issues during the pre-departure review.
FBAR (Foreign Bank Account Report, FinCEN Form 114) is required for any year in which the combined balance of all your foreign financial accounts exceeds $10,000 at any point during the calendar year. Once you open a foreign bank account — which most expats do within weeks of arriving — FBAR reporting begins for that tax year. The FBAR is due April 15 with an automatic extension to October 15. Penalties for non-willful failure to file start at $10,000 per year per account. FATCA (Form 8938) has a higher threshold ($200,000 for single filers living abroad at year-end) and is filed with your tax return. Mark introduces both requirements before you leave so you know what to expect from your first year abroad.
Yes. Foreign mutual funds, unit trusts, ETFs listed on foreign exchanges, and many local savings or pension products are classified as Passive Foreign Investment Companies (PFICs) under US tax law. The PFIC rules impose a punitive tax regime: gains are taxed at the highest ordinary income rate (currently 37%) plus an interest charge on deferred amounts — unless you make timely annual elections (QEF or mark-to-market) using Form 8621. Many expats unknowingly purchase PFICs through recommendations from local banks or financial advisors in their host country, without realizing the US tax consequences. Mark warns every pre-departure client about PFICs specifically and recommends reviewing any foreign investment product with a US tax professional before purchasing it.
It depends on how your income is structured post-departure. Traditional and Roth IRA contributions require earned income that has not been excluded. If you use the Foreign Earned Income Exclusion to exclude all of your foreign-earned wages, your IRA contribution limit for that year is reduced to zero. A 401(k) through a continuing US employer works normally regardless of FEIE status. Solo 401(k) and SEP IRA contributions for self-employed expats depend on whether net self-employment income exceeds the FEIE exclusion amount after the FEIE is applied. The practical implication: maximizing IRA contributions before departure — while you have US-source income and the FEIE has not yet eliminated your contribution basis — is one of the highest-value pre-departure actions for many clients.
Remote work for a US employer from abroad creates several issues that should be addressed before departure: (1) The foreign country may assert that the US employer has a "permanent establishment" there, potentially exposing the employer to local corporate tax obligations. (2) You may be required to register as an employee in the foreign country for local labor law and social security purposes. (3) Your US employer may be required to withhold local payroll taxes in the destination country, even if paying you a US salary. (4) Totalization agreements (if one exists between the US and your destination) may exempt you from paying dual social security taxes. These are primarily employer-side issues, but they affect your employment relationship and compensation structure — Mark reviews the relevant considerations for your destination country during the consultation.
The Social Security Administration pays benefits to most US citizens living abroad, though the mechanics differ from domestic payment. Direct deposit to a US bank account continues without issue. Direct deposit to a foreign account depends on whether the destination country participates in the SSA's direct deposit program — not all countries do. Some countries tax US Social Security income under their local tax rules; others are covered by tax treaties that allocate taxing rights to only one country. If you are self-employed abroad, you continue owing US self-employment tax (and Social Security contributions) unless a totalization agreement with your destination country provides an exemption. Mark reviews your specific Social Security situation as part of the pre-departure consultation.
A domestic CPA can prepare the tax calculations accurately. What they typically cannot do is advise you from personal experience on the banking restrictions US expats face, which brokerage firms actually work for non-residents, how to maintain a US mailing address effectively, what FATCA inquiries from foreign banks look like in practice, or what your destination country's tax authority will expect from you in year one. Mark Anderson, CPA has been based abroad for years with a practice focused entirely on Americans outside the United States. He has personally navigated every practical problem he advises clients on — not from textbooks, but from lived experience. That is a meaningful difference when you are making decisions about a significant life transition.
The Best Time to Do This Planning Is Before You Leave — Not After the Mistakes Are Already Made
Schedule a pre-departure tax planning consultation with Mark Anderson, CPA — a US-licensed CPA already based overseas, with 15+ years serving Americans abroad in 50+ countries. Free 30-minute initial consultation, no obligation.
Schedule Your Free Pre-Departure Consultation
Tell us about your situation — your planned destination, departure timeline, current state of residence, and any specific concerns (equity compensation, business ownership, retirement accounts, state domicile). Mark will personally review your case and explain exactly what pre-departure planning your situation requires.
- Free 30-minute initial consultation — no commitment required
- Flat-fee pricing quoted before any work begins
- US CPA already based overseas — understands both sides
- 100% online — work with us from anywhere in the world
- Actual US-licensed CPA with Fortune 500 tax background
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