Are your foreign investments quietly wrecking your US tax situation? They might be.

This week’s Ask An Expert show features Brian Dunhill, a seasoned financial planner based in the UK, to tackle one of the trickiest topics in expat finance: PFICs (Passive Foreign Investment Companies).

Host and founder of Plan First Wealth, Richard Taylor, and founder of Dunhill financial Brian walk you through:

• What PFICs are and why they’re a major tax trap for US citizens and expats.
• How IRS rules make foreign investing more complicated, and costly.
• Ways to avoid harsh penalties, including using the Streamlined Filing Compliance Procedures.
• Smart investment strategies that steer clear of PFIC issues while still diversifying internationally.
• How the DF Direct platform lets you invest in non-U.S. currencies without triggering PFIC rules.

Brian shares real-life stories of expats who’ve navigated PFIC trouble - and how they got out of it. Brian is the founder of Dunhill Financial, a firm that specialises in cross-border financial planning and wealth management. The firm is based in London and focuses on assisting Americans living abroad and expatriates in the United States.

Brian and his firm are adept at handling financial advisory needs that cross national borders, particularly involving US and European regulations.

We're the Brits in America 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.

"When selling feels right, that's when it's most dangerous," warns James Boyle in this week's From The Trenches. Richard Taylor sits down with James to look at one of the most turbulent weeks in the market in recent history.

The S&P 500 took a massive 12% dive over four days, stirring up investor panic similar to past financial crises. This panic often leads to hasty decisions; James and Richard stress the need to stay on course, even when the stock market feels like a rollercoaster. A steady investment strategy is key to preserving long-term gains and avoiding reactive trading pitfalls.

Right after the market dropped, the S&P 500 bounced back with a 10% gain the third-highest since World War II, a perfect example of the volatility that can trap you into trying to time the market. Richard emphasises that while it's natural to want to act during downturns, a buy-and-hold strategy helps you benefit from market recoveries instead of locking in losses by selling at a low.

Also, consider how taxes impact your financial returns. Using strategies like tax-loss harvesting during downturns can boost your after-tax returns. This involves selling losses to offset gains, reducing taxable income, and is valuable for long-term portfolio health. In times of market volatility, make sure your investment strategy matches your risk tolerance and financial goals.

We're the Brits in America 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.

We’re The Brits In America is a Plan First Wealth podcast dedicated to helping ambitious expatriates and 1st generation immigrants THRIVE in America, hosted by Richard Taylor, founder of Plan First Wealth.

We work with successful expatriates, immigrants and internationally-minded Americans living across the US to make the most of their opportunity and avoid the expat landlines.

We’re The Brits In America consists of three show formats:

We have “Ask An Expert” where a fellow professional is invited on to share useful and important information that expats and immigrants need to know.

“Always An Expat” where Richard invites in a fellow expat/immigrant with an interesting story to tell

“From The Trenches” where Richard Taylor and James Boyle from Plan First Wealth bring you behind the scenes, analyse the market movers and forecast what they mean for you.

If you aren’t already receiving our regular emails please go to our website, www.planfirstwealth.com and sign up there - it’s free - and you’ll then be notified every time we drop a new episode, and so much more.

We're the Brits in America 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.