Gain Perspective on Financial Planning. Investments. Your Future.

Avoid These Common Mistakes When You Receive an Inheritance

A new client recently told me, “My late father left me an inheritance of an IRA (Individual Retirement Account) worth $1.5 million, and I’m the sole beneficiary. What should I do with it? If I bring the money to Israel, I’ll have to sell the stocks … [Read more...]

A Guide to the Tax Implications of a Legal Settlement

This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, click here.  I recently helped a number of people who are in the midst of receiving a cash settlement from a lawsuit, and had to point … [Read more...]

Do U.S. Citizens in Israel Pay Tax to the IRS on a Legal Settlement?

This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, click here. If you’re a U.S. citizen who recently received proceeds from a legal settlement, be aware of any possible tax … [Read more...]

How to Avoid Tax Mistakes When You Receive an Inheritance

When receiving an inheritance, it’s important to avoid making tax mistakes. Certain tactics, such as opening a U.S. brokerage account (see below for an interactive tool) can help. Watch out for these mistakes: Mistake #1 – Taking money out of an … [Read more...]

Don’t Leave Tax-Loss Harvesting to the End of the Year

Many investors optimize their portfolio to minimize capital-gains tax. One popular strategy is to do tax-loss harvesting. What is tax-loss harvesting? Tax-loss harvesting is the practice of selling a position at a loss, and matching the loss … [Read more...]

What To Do If You Can’t Buy U.S. or Israeli Mutual Funds

Since Americans living abroad are frequently denied the opportunity to buy mutual funds, how can investors diversify their portfolios without being responsible for the day-to-day management of dozens of individual stocks and bonds? One possible … [Read more...]

What Tax Might Take 40% of Your Assets One Day?

Careful planning addresses two major points: what happens to your money while you’re alive, and what happens to your money after you pass away. In my work as a financial advisor helping Americans who live in Israel with their U.S. investments, I … [Read more...]

Do Americans Need to Report Rental Income From Foreign Property?

Do Americans need to report rental income from foreign properties to the IRS? The answer is yes. American citizens must include all earned income regardless of its source on their American tax reports. Additionally, if foreign rental income is … [Read more...]

Should Your Money Make Aliya?

A middle-aged couple that recently made aliya told me that they were concerned about how to handle the IRAs (Individual Retirement Accounts) that they left back in the United States. They thought that they either needed to leave these assets with a … [Read more...]

Profile Perspectives is a personal finance blog based on articles Doug Goldstein, CFP®, director of Profile Investment Services, Ltd., published in The Jerusalem Post. The information posted is purely informational and does not constitute investment or tax advice. Advertisements on the site are neither endorsements nor recommendations. Consult your professional advisors before making any investments based on articles or advertisements. Securities offered through Portfolio Resources Group, Inc., member of FINRA, SIPC, MSRB, FSI. Accounts carried by Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation.

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