We're The Brits In America Plan First Wealth

In the UK you've got four countries that make up the United Kingdom, governed by HMRC. In the US, you've got 50 little governments that reside under that umbrella. They each have autonomous authority to set their own rules, and that's where we see people stumble the most. 

Christy Waskobojnik is a tax advisor specializing in US-UK cross-border matters, and head of business development for DYUSA, a tax and accounting firm. This week's Ask An Expert with Christy focuses on advice for business owners thinking of starting up in the US. 

The three key takeaways from this episode: 
Understanding State Complexity: Each state has its own set of rules regarding taxation, employment, and business operations. Christy emphasizes the importance of understanding these nuances early on to avoid compliance issues and unnecessary penalties.Choosing the Right Business Structure: Many UK businesses mistakenly choose an LLC when expanding to the US, unaware of the potential tax implications. Christy advises that a C Corporation, owned by a UK Limited entity, is often the best structure. This setup allows businesses to efficiently navigate the tax systems of both countries, leveraging the US-UK tax treaty to avoid double taxation and maximize tax benefits.The Importance of Cross-Border Expertise: Seek advice from someone with specific cross-border experience. General advice from domestic accountants or incomplete research can lead businesses into complicated tax situations, costly penalties, and operational headaches. Early engagement with cross-border tax advisors can save businesses from these pitfalls and provide a smoother expansion process into the US market.Always an Expat 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.

Plan First Wealth, the company behind this podcast, works with British expats in America.  We're seeing the same avoidable mistakes and missteps when it comes to financial planning - some of which have been going on for years and can be very costly to resolve.

So, we want to address the problems. As a result,  Always An Expat is changing and the show's remit is expanding. However, our objective remains the same - we want to help fellow British expats thrive in America, by avoiding the landmines and taking advantage of all available opportunities.

We're very excited to introduce We're the Brits in America, which will replace Always An Expat. Going forward, a few different shows will sit under the We're The Brits In America umbrella.

We are going to have Ask An Expert, where I'll tap into my network and bring subject matter experts - professionals in the US/UK advisory space - on to highlight some of the challenges and also the opportunities that accompany being an expatriate in America.

Then there will be From The Trenches, where myself and colleague James Boyle bring you our take on what's going on in the world. We'll do a deep dive into some technical topics that you can find on our website, and we'll give you our thoughts on some of the popular financial planning aphorisms, all interlaced with the real stories and observations that we encounter on a daily basis in the field.

Always An Expat will still exist, where I will bring in an interesting expat to talk about their experience in America, but it will now exist alongside Always An Expat and From The Trenches.

I hope you enjoy! More importantly, I hope you thrive!


Always an Expat 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.

This week Richard is joined by longtime friend and expert in foreign exchange and global payments (and East London native) Mark Ridley. Together they explore Ridley's personal and professional journey as a British expat living in the United States, highlight the nuances of expatriate life and discuss the challenges of adjusting to a new country and the opportunities it presents.
Three main takeaways from this episode are:
The Importance of Adaptability: Mark's story emphasizes the need for expatriates to be open and adaptable to new experiences. Despite having expectations based on previous visits and professional experiences in the U.S., living there full-time presented unforeseen challenges and opportunities.Financial Planning for Expatriates: The conversation sheds light on the significance of early and effective financial planning for expatriates. Richard highlights the unique financial challenges faced by British expats in the U.S. and the importance of managing pensions, investments, and savings to secure a stable future.Cultural and Social Adjustments: Richard and Mark discuss the cultural and social adjustments expatriates must make, from understanding local customs and work ethics to finding community and making new friends. 

Always an Expat 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.

Jeremy Bettel, founder and CEO of Vitality Collective, shares his journey as a British expat in America and his career in high-performance professional sports. 
He discusses his move to the US for education and career opportunities, his experiences working in the NBA and NHL, and his transition to New York City Football Club. 

Together, Jeremy and Richard explore the themes of identity, self-validation, reevaluating priorities, and the pursuit of a well-lived life. As always on the show, the conversation explores the differences in mindset and financial responsibility between the UK and the US. The importance of having an emergency fund and avoiding excessive debt is emphasized. The concept of the American Dream is discussed as the opportunity to build one's own future and be in control of one's destiny. The episode concludes with closing remarks and contact information for the guest.
Always an Expat 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.

James Boyle and Richard Taylor are joined by guest Simon Misiewicz, property tax specialist, to focus on US-UK cross-border financial and tax planning for British expatriates in America. 

The trio emphasizes the critical need for British expats to have both a US-UK cross-border tax advisor and a financial planner, and the importance of these professionals collaborating closely. They look at US retirement accounts, stressing their significance in wealth creation for expats in the US and the intricacies of managing UK pensions from abroad. The discussion highlights the complexities of navigating US financial systems, such as understanding 401(k)s and other retirement plans, and underscores the importance of compliance and strategic financial planning. The episode also touches on recent changes affecting expats' voting rights and encourages listener engagement and questions.
Always an Expat 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.

Steve Statler, Chief Marketing Officer at Williott, shares his journey from the UK to the US and his experiences as an expat. He discusses the cultural differences between Israel and the UK, the challenges of moving to a new country, and the financial and immigration issues he faced. 

He opens up about his father's struggle with schizophrenia and the difficulties of managing family matters from a distance. It's an emotional and honest account of expat lift, wrapping up with a reminder of the importance of seeking professional advice for financial and tax matters. 
Always an Expat 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.