Moving to the United States can open the door to incredible opportunities—but it can also introduce a level of tax complexity many expats never expect.

In this episode of Abroad in America, Jimmy Miller steps back from individual tax rules and looks at the bigger picture: the most common mistakes expats make during their first two years living and working in the U.S.

Many newcomers assume the American tax system works like the one in their home country. Unfortunately, that assumption alone can lead to major reporting issues, missed filings, and costly surprises later.

Jimmy breaks down five patterns he sees repeatedly—from misunderstanding worldwide taxation and leaving foreign accounts unchanged, to hiring the wrong tax preparer or ignoring reporting requirements because nothing seems to happen.

He also explains why certain financial decisions that look smart in the short term—like contributing to traditional tax-deferred accounts—can create problems for expats who eventually plan to leave the U.S.

If you’re new to the United States or planning a move, this episode will help you understand the rules earlier, reduce stress, and avoid expensive mistakes.

In this episode you’ll learn:

• Why the U.S. taxes worldwide income once you become a tax resident
• How foreign accounts and investments can create reporting obligations
• Why many expats accidentally hire the wrong tax preparer
• The hidden risks of traditional 401(k) accounts for people who may leave the U.S.
• Why “no IRS letters” doesn’t always mean you’re compliant

Living abroad—especially in the United States—comes with challenges. But with the right awareness, you can avoid the most common pitfalls and focus on the opportunities that brought you here in the first place.

• Visit Baobab Wealth Abroad
• Buy a copy of Jimmy's book, Divorce the IRS
• Download our guide for foreign nationals in the US
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• Connect with us on LinkedIn

There’s an important reporting rule that affects many expats living or working in the United States — and it often shows up as a surprise.

In this episode of Abroad in America, we break down FATCA and Form 8938, one of the most misunderstood parts of U.S. tax reporting for people with financial connections outside the country. While many expats are familiar with the FBAR requirement, Form 8938 operates under a different set of rules and applies to a broader range of foreign financial assets.

If you maintain bank accounts, investments, pensions, or other financial assets outside the United States, understanding how FATCA works — and how Form 8938 fits into your tax return — is essential to staying compliant and avoiding unnecessary penalties.

We explain the purpose behind FATCA, why foreign banks now report account information to the U.S. government, and how Form 8938 requires individuals to disclose certain foreign financial assets as part of their annual tax filing.

You’ll also learn how Form 8938 differs from the FBAR, why the reporting thresholds are different, and why some expats may have to file one form, the other, or both.

In this episode, we cover:

What FATCA is and why the law was created
How foreign banks report U.S. account holders to the IRS
What Form 8938 is and how it fits into your tax return
The difference between FATCA reporting and FBAR reporting
Which foreign financial assets must be disclosed
The reporting thresholds that trigger Form 8938 filing
Why some expats must file both Form 8938 and the FBAR
Potential penalties for failing to file when required

For many expats, these rules can seem complicated at first. But once you understand the purpose behind FATCA and how Form 8938 works, the reporting process becomes much clearer — and much easier to manage.

• Visit Baobab Wealth Abroad
• Buy a copy of Jimmy's book, Divorce the IRS
• Download our guide for foreign nationals in the US
• Follow us on Facebook
• Subscribe to us on YouTube
• Connect with us on LinkedIn

There’s an important rule that affects many expats working in the United States — and most people have never heard of it.

In this episode of Abroad in America, we break down totalization agreements, the treaties between the U.S. and certain countries that coordinate Social Security systems. These agreements help prevent expats from paying Social Security taxes to two countries at the same time and can protect future retirement benefits.

If you’re working in the U.S. on assignment, planning an international move, or splitting your career between countries, understanding how these agreements work can save you money and prevent costly mistakes.

We explain how the rules determine which country’s system you pay into, when temporary assignments may qualify for exemption from U.S. Social Security tax, and why a Certificate of Coverage is often the key document that makes everything work correctly.

You’ll also learn how totalization agreements can help combine work credits across countries so you can qualify for retirement benefits even if you haven’t worked long enough in just one system.

In this episode, we cover:

• What totalization agreements are and why they exist
• How they help prevent double Social Security taxation
• The difference between permanent work and temporary assignments
• Why a Certificate of Coverage matters
• What happens if your home country doesn’t have an agreement with the U.S.
• How work credits in two countries can sometimes be combined
• Why this is a key piece of expat financial planning

For expats, Social Security rules can feel confusing and overwhelming. Totalization agreements are one area where the system is actually designed to make things fairer and more manageable.

• Visit Baobab Wealth Abroad
• Buy a copy of Jimmy's book, Divorce the IRS
• Download our guide for foreign nationals in the US
• Follow us on Facebook
• Subscribe to us on YouTube
• Connect with us on LinkedIn