Navigating Life Without a Physical Address in the Philippines: How to Manage Banking Challenges
When living in the Philippines, one of the challenges can be dealing with banking issues, especially for expats. U.S. banks have increasingly restricted or closed accounts for non-resident Americans, including those living in the Philippines. Some U.S. financial institutions have limited services for foreign accounts or imposed penalties for non-residents, leading to difficulties for expats trying to maintain U.S. accounts. In some cases, U.S. brokerage accounts are being closed due to similar reasons, as banks and brokerage firms adjust their policies for clients living abroad [1] [2]. For those who rely on U.S. bank accounts while living abroad, it's essential[...]
Navigating the Foreign Earned Income Exclusion: Insights for U.S. Expats in the Philippines.
It is important for a U. S. expatriate working in the Philippines to know about Foreign Earned Income Exclusion (FEIE). This tax provision enables the eligible persons to claim part of their foreign income that they earn and this income will not be taxed in the US, a situation that can greatly relieve the tax burden. To expats working in the Philippines, utilizing the FEIE can have a positive impact on their financial situation. The Foreign Earned Income Exclusion not only exempts a large part of the taxable income but also gives expats an opportunity to improve their standard of[...]
Teach Her to Fish: Empowering Your Filipino Girlfriend to Succeed in Remote Work
Training your Filipino girlfriend for remote work is a crucial step in helping her achieve long-term success and independence in the evolving job market. Some people build houses, but the most rewarding work is building people. In a world where remote work is becoming increasingly common, especially in the Philippines, equipping her with the right skills can make a significant difference in her career. This guide will walk you through how you can support her in developing these skills, fostering both personal growth and professional achievement. Living Within Her Training and Abilities While it’s important to aim high, it’s equally[...]