How does the Foreign Earned Income Exclusion work if I live in Mexico?
Don Nelson - TaxMeLess
The Foreign Earned Income Exclusion only applies to earned income. Therefore, if you live in Mexico and earn wages or have your own business there, you can exclude up to $101,300 for 2016 from US income taxes. This exclusion does not apply to US self-employment taxes (Social Security and Medicare for the self employed).
You must live in Mexico as your primary residence for a full calendar year a to claim this exclusion or out of any 365 day fiscal year, you must be...
The Foreign Earned Income Exclusion only applies to earned income. Therefore, if you live in Mexico and earn wages or have your own business there, you can exclude up to $101,300 for 2016 from US income taxes. This exclusion does not apply to US self-employment taxes (Social Security and Medicare for the self employed).
You must live in Mexico as your primary residence for a full calendar year a to claim this exclusion or out of any 365 day fiscal year, you must be outside of the US at least 330 days. The IRS does not get lists from Homeland security of your trips to and from the US. The foreign earned income exclusion rules are complex and you should read publication to make certain you comply with all of the requirements.
(The terrace of Zocalo, a restaurant in the historical center with views of the Metropolitan Cathedral in Mexico City, Mexico, pictured.)
Carlos Roman Gutierrez Solis - Casa Granada Properties
One of the best reasons to retire in Nicaragua is that Nicaragua is a tropical country and a good alternative for people coming from countries with very cold weather.
The cost of living is much lower than the cost of living in the United States. You can buy a decent house in a good location in Nicaragua in under US $150,000. In Santa Fe, my company offers a finished new house that people are excited about because...
One of the best reasons to retire in Nicaragua is that Nicaragua is a tropical country and a good alternative for people coming from countries with very cold weather.
The cost of living is much lower than the cost of living in the United States. You can buy a decent house in a good location in Nicaragua in under US $150,000. In Santa Fe, my company offers a finished new house that people are excited about because no repairs are needed. You can buy a house that is 1,000 to 1,400 square feet for $110,000 to $120,000.
Another reason to retire to Nicaragua is that Granada and Managua are very safe cities in which to live.
(Rustic home in Apoyo Lake, near Granada, Nicaragua, pictured. )
How bad are the mosquitoes and other bugs and insects in Algarve?
Luis Teixeira da Silva - Algarve Senior Living
The mosquitoes and other insects are not that bad here in Algarve. We are not Florida and we are not Central America. Anyone who is accustomed to living in those places would find Algarve to be a welcomed relief. We clearly do get some flies and mosquitoes in the summer but they are not at the epidemic level. Some houses here have pools so sometimes mosquitoes breed in the water and we have to swat them away but it’s not a big deal. People here often get wax candles that have a...
The mosquitoes and other insects are not that bad here in Algarve. We are not Florida and we are not Central America. Anyone who is accustomed to living in those places would find Algarve to be a welcomed relief. We clearly do get some flies and mosquitoes in the summer but they are not at the epidemic level. Some houses here have pools so sometimes mosquitoes breed in the water and we have to swat them away but it’s not a big deal. People here often get wax candles that have a scent that repels mosquitoes. These candles are easily available at the department stores or hardware stores and cost between €1 (US $1.10 or £ 0.75) and €5 ($5.50 or £ 3.69) depending on the size of the content. It’s a very efficient way of getting rid of mosquitoes.
Inside houses, you can also have electric, plug-in mosquito repellant units, but overall, there is no need to use mosquito repellant all the time here in the Algarve. To date, there has not been any outbreaks of any kind of diseases which are brought about by mosquitoes, such as malaria or dengue.
(Medieval castle, Castelo de Alcoutim on the San Marcos River, Algarve, Portugal, pictured. )
Are there English-speaking doctors in Ambergris Caye?
Lisa McCorkle Guerrero - DIAMANTÉ
All the doctors I’ve come across in Ambergris Caye speak English.
We have a few doctors that are from Cuba who moved down to Belize to work, and even they speak English. A lot of the reason is because we’re such a big tourist destination but, believe or not, a lot of people, especially the younger generation still speak Spanish in San Pedro, Ambergris Caye. Even my kids’ first language is English. I grew up speaking Spanish in my house but our school...
All the doctors I’ve come across in Ambergris Caye speak English.
We have a few doctors that are from Cuba who moved down to Belize to work, and even they speak English. A lot of the reason is because we’re such a big tourist destination but, believe or not, a lot of people, especially the younger generation still speak Spanish in San Pedro, Ambergris Caye. Even my kids’ first language is English. I grew up speaking Spanish in my house but our school system is based on the British system so all of our schools are English speaking. You have to know English to get around here. So even when doctors come from Spanish speaking countries like Cuba or Mexico, they eventually have to learn English to work.
Belize is the only English speaking country in all of Central America. Its official language is English. All the contracts for our condos are in English.
(Sign in English of a historical artifact in Burrell Boom, Belize, pictured.)
I found my paradise in Switzerland! I'm sure there will be a number of opinions as to 'what are the best places in the world to live' but, rather than speculate, let me share with you where I reside and just a few reasons why I have found Switzerland to be THE best place in the world to live.
Switzerland has an overall population of only 8 million people, which is roughly the size of New York city proper, yet has remained in the top 5 most wealthiest...
I found my paradise in Switzerland! I'm sure there will be a number of opinions as to 'what are the best places in the world to live' but, rather than speculate, let me share with you where I reside and just a few reasons why I have found Switzerland to be THE best place in the world to live.
Switzerland has an overall population of only 8 million people, which is roughly the size of New York city proper, yet has remained in the top 5 most wealthiest countries in the world since such statistics have been recorded. As a people, the Swiss are among the most friendly, respectful, intelligent and caring I have met anywhere. Their passion for precision and quality of life is second to none.
Switzerland is breath-taking. The air is clean and crisp, the water is pure and refreshing, the alps are stunning in their majestic beauty, the atmosphere is cool and the sun's rays are warm.
After nearly a year here I have yet to find my first pothole! Drivers are calm and relaxed, the roads are spectacularly built and maintained, the police are consummate professionals and emergency services rival the world's best.
Switzerland is prepared. Swiss law mandates that every man, woman and child have food, water, medical supplies and fuel for a minimum of 2 years in the event of any emergency such as a natural disaster or war. Every structure is required to have bomb shelters and no building permits are issued unless the architectural designs meet the demanding specifications of the respective canton (state). The cement in these shelters (where we live) is dense beyond imagination. When you pound on these blast doors you hear and feel a 'thud' that is void of any reverberation as if there were no air mixed in the cement at all, it's just 100% solid.
Switzerland is armed. Men, ages 18 to 50, spend three weeks per year in active military duty and are sent home with fully-automatic AK-47's and all the ammunition they can store. Switzerland boasts the lowest crime rate in Europe and is far more heavily armed per capital than America. Switzerland's armed forces are extremely formidable and built solely for defense. I am appreciative and respectful of the Swiss mentality and respect for human life.
Switzerland is healthy. The healthcare facilities and hospitals are an art form, literally. Lobbies have fountains, designer stained-glass, smoked privacy mirrors, soft secondary-lighting systems, beautiful artwork on the walls and fresh flowers. The number of staff far outweigh the number of patients and the care you receive is consistent from one visitation to the next. Public medical equipment and care in Switzerland surpass that of most private institutions in other countries.
Switzerland is home. It's enjoyable knowing you live in a country which places such a high-value on quality of life. If, as an American, you wish to live here and obtain citizenship - you can do so. With a minimum bank deposit of $100,000 (USD) it is possible to form a Società Anonyme (SA) and, along with personal assets in excess of $500,000 (USD) and 5 years of residency, you can obtain Swiss citizenship and passport.
What are the expats like in the Pedasi, Azuero, Panama area?
Jade Wills - Maya Moon Marketing
The expats in Pedasi are wonderful and the community is really great. Everyone helps each other, everyone likes to socialize, and there’s a local expat bar called Smiley’s that everyone loves to go to. Smiley’s does a great job at rounding everyone up and keeping everyone active and excited about being in Panama.
There's plenty of places to meet. For example, the picture to the right is of a bunch of Pedasi expats and me at a...
The expats in Pedasi are wonderful and the community is really great. Everyone helps each other, everyone likes to socialize, and there’s a local expat bar called Smiley’s that everyone loves to go to. Smiley’s does a great job at rounding everyone up and keeping everyone active and excited about being in Panama.
There's plenty of places to meet. For example, the picture to the right is of a bunch of Pedasi expats and me at a Pilates class.
The expats in Pedasi are from North American mostly, although there are a few Australians, I’ve seen a couple Brits around, and we have a lady from Ireland, so you have a good mixture. There are a good amount of Israelis in Pedasi who have formed their own sub-community.
We think that we are smart because we found this near paradise called Panama; by my estimation that is about an 80% correct assumption. On most scales this country rates higher than others. So what is the problem you ask?
Recently a friend's demise caused the brain to kick into over drive:
What if I die or my spouse dies?
What if we don't have enough assets to pay the doctors and hospitals if we are sick?
Boquete is located in the cool mountains just 45 minutes north of David, (the largest city in Chiriqui Province in the Republic of Panama.) The trade winds blow through the valley and keep pollution to a minimum. The air is fresh and it is wonderful to breath deeply, very relaxing for us.
We arrived on December 12, 2012 ready for our adventure. We rented a car in Panama City and drove to David, it took about 6 hours or so. Our first night we spent in Volcan,...