エピソード

  • 103. The 3 Biggest Tax Mistakes British Expats Make in America

    103. The 3 Biggest Tax Mistakes British Expats Make in America
    2026/09/24
    Every week, without exception, Richard and his team at Plan First Wealth review British expat's US tax returns and find something missing. Not occasionally, but every single time. In this week’s episode of Ask an Expert, Richard lays out the three mistakes he sees most often after 11 years working with British expatriates across America, and why even people who actively follow this content still fall into them. Richard, Chartered Financial Planner and founder of Plan First Wealth, breaks down the three mistakes he sees over and over again. The first is missing informational returns, forms like FBAR, 8938, 8621, and 3520. Skip these and the penalties don't just sit there, they stack up, compound, and in some cases stay on the table indefinitely. The second is PFICs (Passive Foreign Investment Company). This is the tax hit that comes from holding non-US investments like ISAs, unit trusts, or offshore bonds. The IRS looks straight through these accounts, and what was once a tax-efficient wrapper can end up taxed at the highest possible rate, with interest added for every year it goes unresolved. The third is simply waiting too long. Many expats leave UK pensions, ISAs, and other legacy assets untouched for 10, 15, even 20 years. By the time retirement forces the issue, what could have been a manageable problem has grown into something far more expensive. Richard also flags two emerging risks worth watching. First, expats turning to generative AI tools like ChatGPT and Facebook groups for tax guidance, and getting advice that's confidently wrong, and second, the currency exposure that comes from holding too much retirement wealth in pounds when you're planning to retire in dollars. This episode is for anyone with a connection to the UK, whether that's pensions, investments, or family who might one day pass on assets, who wants to know if they're one of the many people currently carrying risk they don't know about. As Richard puts it, the goal isn't to fear-monger, it's to get ahead of it, deal with it, and move on. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
    続きを読む 一部表示
    21 分
  • 102. US Debt Warning, Yen Carry Trade Risk & Is AI Really a Bubble?

    102. US Debt Warning, Yen Carry Trade Risk & Is AI Really a Bubble?
    2026/09/17
    Brian Dunhill has stepped out for this episode, so Richard Taylor is joined by Dunhill analyst Kamaljit Somal for an unscripted breakdown of the forces moving global markets. First up, the US bond market. Kam explains why rising long-term yields are making policymakers nervous, how higher borrowing costs feed through to mortgages, car loans and government finances, and why the bond market may finally be sounding the alarm over US debt. With federal debt approaching $40 trillion, Richard and Kam dig into the bigger issue: the growing cost of servicing it, which Kam says is now a larger expense for the US government than military spending. Then, Japan. The yen has strengthened sharply, raising questions around one of the most important sources of cheap funding in global markets: the carry trade. Kam breaks down how leverage has built up around the yen, why a disorderly unwind could put pressure on the Magnificent Seven and other high-growth stocks, and what a stronger Japanese currency could mean for investors around the world. They also look at what this means for cross-border portfolios. Kam explains why Dunhill has been reducing some US dollar exposure, particularly in fixed income, and why matching the safer part of a portfolio to the currency you actually spend can help remove an unnecessary layer of risk. Finally, Richard and Kam turn to the US stock market and the constant talk of an AI bubble. Despite investor anxiety, they argue that today’s market looks very different from the dot-com era: the companies driving growth are generating enormous amounts of cash, earnings are broadening beyond the Magnificent Seven, and even some of the software names written off during the so-called “SaaS apocalypse” are beginning to benefit from AI. As always: real talk, zero scripts, and a cross-border look at what actually matters beneath another chaotic month in markets. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
    続きを読む 一部表示
    39 分
  • 101. Cross Border, Cross Country: Meet the British Financial Planner Taking on America

    101. Cross Border, Cross Country: Meet the British Financial Planner Taking on America
    2026/09/10
    What does America look like through the eyes of a British financial planner who has just moved across the Atlantic? In this episode of Expat Wealth, Richard Taylor introduces Cross Border, Cross Country: a new recurring format following Plan First Wealth’s newest team member, James “JB” Beck, as he travels across the US while making the transition from experienced UK financial planner to US-UK cross-border specialist. JB lands in America with a decade of financial planning experience behind him, including eight years working with business owners at UK firm Fiscal Engineers. He knows the British system inside and out. But moving to the US means learning an entirely different rulebook: US tax, UK pensions and US pensions sitting awkwardly side by side, the US-UK tax treaty, and the everyday financial quicks nobody warns you about. In other words, the same challenges faced by the British expats Plan First Wealth works with every day. And JB isn’t experiencing America from one place. For the next 18 months, he and his wife are living on the road in a 43-foot RV pulled by a Ford F-350, using the journey to explore different states, communities and lifestyles while deciding where they might eventually put down roots. Richard will be checking in with JB throughout the journey, following both sides of his experience: what he discovers about life across different parts of America and what surprises him as he develops from a UK financial planner into a cross-border US-UK adviser. In this first instalment, JB explains why a Year 9 maths lesson ultimately pushed him towards financial planning, why joining Plan First Wealth felt like a natural fit, and how experiencing the same international move as the firm’s clients gives him a unique perspective on the financial realities of relocating to America. They also discuss the first culture shocks JB has already encountered — from visiting a bank manager and getting a chequebook to discovering how the US financial system works very differently from the UK — before looking ahead to an 18-month route that will take him from New Hampshire through the Carolinas, the South, Texas and across much more of the country. Whether you're moving to America, already deep in the British expat experience, or just want honest expat tax advice and cross-border financial planning from someone living it, this is where the journey starts. Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas. ABOUT RICHARD: Richard Taylor is a British expat and dual UK-US citizen. Originally from Bolton, he now lives in Greenwich, Connecticut, where Plan First Wealth has its head office. As the firm’s leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm’s growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA). Connect with Richard on LinkedIn ABOUT JB: James Beck is a UK Certified Financial Planner with ten years of experience in financial planning. Before joining Plan First Wealth, he spent eight years at Fiscal Engineers in the UK, working particularly with business owners who had sold their companies. Now living in the United States, JB is developing his US knowledge alongside his existing UK expertise as he works towards becoming a US-UK cross-border financial planner at Plan First Wealth. Over the next 18 months, JB and his wife will also be travelling across America in their RV, experiencing first-hand many of the cultural, financial and practical differences faced by people building a new life in the US.
    続きを読む 一部表示
    23 分
  • 100. The Next 100 Episodes: What We've Learned and Where We're Going

    100. The Next 100 Episodes: What We've Learned and Where We're Going
    2026/09/03
    It's episode one hundred, and alongside the celebration (yes, there are balloons), Richard Taylor and James Boyle are using the milestone to take an honest look at where the show has been, where it went astray, and where it's headed next. The catalyst? A two-star Apple Podcasts review that, as Richard admits, is pretty fair. In this From the Trenches episode of Expat Wealth, Richard and James dissect the review point by point: the name changes (from Always an Expat to Brits in America to Expat Wealth), the rambling episodes, the "scaremongering" label, the theme music, and the ads. They explain the rationale behind each decision, own their mistakes, and push back where they disagree, particularly on the accusation that highlighting the very real penalties facing British expats in America constitutes scaremongering. The episode doubles as a roadmap for the next eighteen months. Richard and James commit to a tighter thirty-minute format, a renewed focus exclusively on Brits in America, and a structured weekly schedule: From the Trenches with James Boyle, Macro Aggressions with Brian Dunhill, Ask an Expert with twenty-four planned guests covering start-to-finish expat topics, and a brand new segment following a British financial planner discovering America from a campervan as he joins the Plan First Wealth team. Whether you've been listening since episode one or just found out about the show, this is the reset. Richard and James lay out exactly what you can expect going forward, invite your feedback at expatwealth@planfirstwealth.com, and ask, politely, for five-star reviews. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas. ABOUT RICHARD: Richard Taylor is a British expat, dual citizen (UK & US). Originally from Bolton, he now lives in Greenwich, CT, where Plan First Wealth has its head office. As the firm’s leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm’s growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA). Connect with Richard on LinkedIn
    続きを読む 一部表示
    32 分
  • 99. [Re-Release] Moving to Europe as an American: The Tax Mistakes That Can Cost You Dearly

    99. [Re-Release] Moving to Europe as an American: The Tax Mistakes That Can Cost You Dearly
    2026/08/27
    This week's episode is a re-release of one of our most popular episodes, covering the US tax obligations, investment traps, and estate planning issues that catch American expats off guard when moving to Europe. For Americans moving abroad, the dream of a new life in Europe can quickly become complicated by US tax rules, foreign reporting requirements, estate planning mismatches, and costly investment mistakes. From buying property in France, to opening a business in Spain, to holding foreign mutual funds or trusts that no longer work overseas, the consequences of poor planning can be severe and expensive to unwind. For those considering moving to America or moving to the US in the future, many of these same cross-border challenges apply in reverse, making early planning essential regardless of direction. Richard Taylor – dual UK/US citizen and Chartered Financial Planner – is joined by Christine Alexis Concepcion – international tax attorney and Managing Partner at Concepcion Global PLLC – to discuss what US citizens and green card holders need to know before relocating abroad, especially to Europe. They explore ongoing US tax obligations, the risks of investing or structuring assets incorrectly, and why trying to “figure it out later” often leads to significantly higher costs. Drawing on real client scenarios, they highlight how decisions around foreign investments, business advise, and international wealth structuring can create long-term tax exposure if not handled correctly. They also explain why working with a qualified wealth advisor and US tax help specialists is critical for navigating cross border complexity. In this episode of Expat Wealth, Richard and Christine discuss: How Americans and green card holders remain subject to US tax filing obligations on worldwide income and assets, even after moving abroad. Why forming a foreign company, investing in a foreign business, or buying non-US mutual funds without planning can trigger punitive tax treatment and complex reporting requirements. How trusts, foreign property purchases, and cross-border estate planning can create major problems in Europe if not reviewed before a move. Why proactive planning with US and local-country specialists can reduce costs, protect long-term wealth, and help expats access the full benefits of international wealth planning. – Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ – Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
    続きを読む 一部表示
    50 分
  • 98. Weak Dollar Policy, Oil Reserve Crisis & Why the Mag Seven Stumble Matters

    98. Weak Dollar Policy, Oil Reserve Crisis & Why the Mag Seven Stumble Matters
    2026/08/20
    Richard Taylor and Brian Dunhill are back with an unscripted breakdown of the forces driving global markets in August 2026. First up, the Yen carry trade unravelling. Brian explains how the Trump administration quietly forced Japan to sell euros instead of US treasuries, what that reveals about a deliberate weak dollar policy, and why currency devaluation is now Washington's preferred tool for managing a 120% debt-to-GDP ratio. For expats and cross-border investors, the implications are massive. Then, markets. Despite constant noise, the S&P 500 has had a strong run, but the Magnificent Seven are stumbling. Richard and Brian debate whether that's a healthy rotation into broader equities or an early warning that overexposed portfolios are about to feel pain. They also dig into the US Strategic Petroleum Reserve dropping below 300 million barrels for the first time since the 1980s, why much of it may be unusable, and how rising gas prices could become the political pressure point that forces a resolution to the Iran conflict. As always, real talk, zero scripts, and two advisors who manage money for a living trying to make sense of a genuinely chaotic month! -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
    続きを読む 一部表示
    36 分
  • 97. Tax Loss Harvesting for Expats: The Direct Indexing Upgrade Nobody Talks About

    97. Tax Loss Harvesting for Expats: The Direct Indexing Upgrade Nobody Talks About
    2026/08/06
    For many British expats in America, building wealth in a taxable brokerage account often means accepting that a meaningful chunk of returns will be lost to tax each year. But with the right tools, that erosion can be meaningfully reduced, and for those with sizable accounts, the savings can potentially be substantial. In this From the Trenches episode of Expat Wealth, Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, and business partner James Boyle explores tax loss harvesting and its more powerful cousin, direct indexing. They explain how deliberately realizing losses and reinvesting into similar holdings can lower taxable income, offset future gains, and compound into significant savings over time, and why this only applies to taxable brokerage accounts rather than IRAs, 401(k)s or UK SIPPs. Richard and James go on to unpack direct indexing, a strategy made possible by the rise of fractional shares and low-cost trading, which allows an index to be rebuilt stock by stock rather than held through a single ETF. This gives far more opportunities to harvest losses at an individual position level and offers added flexibility for expats who may eventually leave the US and want more control over their holdings. Along the way, they touch on the broader market backdrop, including the unwinding SpaceX hype, hyperscalers shifting from cash to debt to fund AI expansion, and a cautionary real-world story about a green card holder who came dangerously close to missing long-term residency and exit tax obligations entirely. Whether you hold a brokerage account in the US, are weighing up whether these strategies apply to you, or simply want to better understand how tax efficiency fits into a long-term investment plan, this episode breaks down a topic that is often misunderstood but increasingly relevant for expats building wealth across borders.
    続きを読む 一部表示
    36 分
  • 96. FBAR, PFICs & Penalty Stacking: The Real Cost of Getting US Tax Wrong as a Brit

    96. FBAR, PFICs & Penalty Stacking: The Real Cost of Getting US Tax Wrong as a Brit
    2026/07/23
    Most UK-US cross-border tax advisors fall into one of two camps: UK-based specialists who understand British and US tax intimately but charge eye-watering fees, or US-based CPAs who know their side of the Atlantic but have insufficient grasp of the UK side of things. This episode explores what happens when British expats end up in the wrong camp, and why finding someone who genuinely understands both systems, including the US UK tax treaty, while being based in America, has been so hard to come by. Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, is joined by Toni Sculthorpe, founder of Avante Tax and known online as "Your Tax Lady," to unpack the gap she's spent the last decade filling. After 25 years as a UK accountant, Toni was pulled into cross-border work when a client's US-based Amazon business exposed how badly disconnected American and British tax advice can be. As a British expat herself, now based in North Carolina, Toni frames the conversation through the lens of clients navigating dual tax UK and US obligations on both sides of the Atlantic. Richard and Toni walk through the most common, and most costly, mistakes British expats make once they've relocated: unreported FBAR accounts, ISAs that trigger PFIC penalties, mishandling a UK pension or US pensions during the transition, and the temptation to take tax advice from Facebook groups or ChatGPT instead of getting proper US tax help from a qualified professional. They break down why the IRS's reasonable cause can test hinges on whether you disclosed everything to your advisor, whether that advisor was actually qualified to advise on your situation, and whether you followed their advice, and why skipping professional guidance before a move can turn a $2,000-3,000 problem into a $30,000+ one. They also discuss why tax compliance and financial planning are too often handled in silos, with tax advisors and financial planners on opposite sides of the Atlantic never speaking to each other, and what it looks like when those two roles work in tandem instead of in isolation. Whether you're moving to America, already living there and unsure if you're fully compliant, or advising clients with assets on both sides of the Atlantic, this episode covers the specific mechanics of what gets missed, not just the broad strokes. It fits into cross-border financial planning for anyone managing international wealth across the UK and US. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
    続きを読む 一部表示
    37 分