A travel budget becomes more than simply calculating spending versus savings when you take an extended trip, especially if you’re a citizen of a country like the United States that requires you to pay taxes whether or not you happen to be there. My live chat guest today can help you understand what’s required of you, plus what you might be able to deduct if you take a career break or RTW trip.
Tom Corley is a Certified Public Accountant (CPA), Certified Financial PLanner (CFP), and holds a Master’s Degree in Taxation. Tom is also the author of the bestselling book Rich Habits – The Daily Success Habits of Wealthy Individuals and the soon to be released, Rich Kids – How to Raise Our Children to be Happy and Successful in Life.
The chat is open today, Tuesday May 6th from 7:30pm-10:30pm US EST, ask away!
Tom and I will be online this evening to clear up any questions you may have about how to file, the taxes required of you, and yes, how to get a bigger return using parts of your trip as deductions. Someone should also ask if there’s any way to get out of paying taxes at all or at the very least, avoid double taxation when earning income in another country. We’re waiting for any questions you may have in the comments below!