Trealtor

The 6-year rule generally refers to the Exclusion of Gain from Sale of a Principal Residence (Section 121 of the IRS code), applied to U.S. citizens who move abroad. Here’s how it works: The 6-Year Rule Explained Key Points: Example ⚠️ Important Notes Related Do US citizens living abroad pay taxes twice? How can I … Read more

There are several countries that offer residency or even citizenship if you buy property, though the rules and minimum investment amounts vary a lot. Here’s a simple breakdown: Country Minimum Property Investment Residency/Citizenship Type Notes Portugal €280,000–€500,000 Golden Visa (residency) Can lead to citizenship after 5 years Spain €500,000 Residency Schengen area travel benefits Greece … Read more

Let’s break down the “smartest place to buy property” from all angles—investment, affordability, ease of purchase for foreigners, and lifestyle benefits. I’ll summarize in a table for clarity. Category Best Options Why Investment Potential / Appreciation Austin (TX), Miami (FL), Lisbon (Portugal), Berlin (Germany), Dubai (UAE) High growth in property value, strong rental demand, and … Read more

Yes, there are actually a few countries and regions offering financial incentives to attract people to move there, often targeting remote workers, professionals, or people willing to settle in less-populated areas. Here’s a concise breakdown: 1. Italy (some towns in Southern Italy) 2. Portugal (some remote work visas and grants) 3. Spain (some rural areas) … Read more

A $1 house in the U.S. is a property that a city or town sells for an extremely low price—sometimes literally $1. The idea is not about making money on the sale, but about encouraging redevelopment and revitalization in areas with vacant, abandoned, or blighted properties. Here’s how it usually works: ✅ In short: It’s … Read more

If you’re looking for a balance between quality of life and low cost, a few countries stand out where you can live comfortably without spending a fortune: Country Why it’s nice Approx. Monthly Cost (single expat) Portugal Friendly locals, mild climate, good healthcare, safe $1,200–$1,800 Mexico Warm climate, vibrant culture, affordable food & rent $800–$1,500 … Read more

If you don’t declare foreign assets as a U.S. citizen or resident, the consequences can be serious. Here’s a clear breakdown: Consequence Details Penalties & Fines You can face civil penalties for failing to file forms like FBAR (FinCEN Form 114) or Form 8938 (FATCA). Fines can range from $10,000 for non-willful violations to up … Read more

Owning property overseas can absolutely affect your U.S. taxes because the U.S. taxes its citizens and permanent residents on worldwide income — not just money earned in the U.S. Here’s the breakdown: 1. Owning Foreign Property (No Rental Income) 2. Rental Income from Foreign Property 3. Selling Foreign Property 4. Foreign Bank Accounts or Rental … Read more

Yes — but it depends on what you mean by “write off.” If you’re a U.S. citizen or resident alien, you can’t deduct the cost of buying foreign property from your taxes. However, you can claim certain deductions or credits related to it if the property is used for business, rental income, or investment: 👉 … Read more

If you’re a U.S. citizen and don’t declare overseas property (or income from it), the IRS takes it seriously. Here’s what happens: 1. Owning the property itself 2. Bank accounts tied to the property 3. Rental income or sale of property 4. Foreign Asset Reporting (FATCA – Form 8938) ⚠️ Bottom line: Owning the property … Read more