Make Paying Your US Taxes Easier

It’s no secret that being a US taxpayer is onerous, especially for those living abroad. Preparing returns, filing supplemental schedules, and completing FBARs is tedious and complicated.  For many overseas taxpayers, the headache doesn’t end when the return is submitted. The “simple” exercise of remitting US tax payments can be challenging.  Often, this involves converting foreign currency, wiring funds to a US account, and/or posting checks from overseas (and hoping they aren’t lost in the mail).

Electronic Federal Tax Payment System®

The Electronic Federal Tax Payment System® (EFTPS) tax payment service is provided free by the U.S. Department of the Treasury. It enables US taxpayers to pay their federal taxes online, and this includes estimated payments. Businesses can also enroll for the service. The user completes an enrollment process and links their EFTPS account to a US bank account. Once enrolled, the user can access the site to make one-off payments, schedule estimates, and view payment history.

By using this service, taxpayers can reduce the risk of lost or mismatched payments and confirm when their payment has settled. For those who find there is nothing easy about US taxes, this just might make your life a little easier!

If you are a US taxpayer who has struggled with the logistical challenges of paying taxes while overseas, visit https://www.eftps.gov/eftps/ to enroll.

The key to Hong Kong survival is efficiency.  We have to be time efficient, cost efficient and – I think we can all agree – space efficient!  Take my closet for example, which is crammed with too many similar and/or “what was I thinking?” items; hardly the model of space efficiency.  It’s time I let go of misguided shopping decisions to make room for a wiser mix of wardrobe choices.  This sounds a lot like portfolio optimization.  Is your portfolio space efficient?  Here are some tell-tale signs that it could use a rethink:

Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their portfolios.
Cryptocurrencies such as bitcoin emerged only in the past decade. Unlike traditional money, no paper notes or metal coins are involved. No central bank issues the currency, and no regulator or nation state stands behind it.
Instead, cryptocurrencies are a form of code made by computers and stored in a digital wallet. In the case of bitcoin, there is a finite supply of 21 million, of which more than 16 million are in circulation. Transactions are recorded on a public ledger called blockchain.

MASECO Asia, the Hong Kong-based wealth manager that advises US nationals living in Asia, is delighted to announce the appointment of Valerie Blume as Wealth Manager. This appointment within the firm will help support Maseco Asia in their drive to promote and progress the business.
Valerie joins the firm from The Royal Bank of Canada (RBC) before moving to Hong Kong. From her vast experience in research and analytics, Valerie will bring extensive capability and proficiency to her clients.
Commenting on the appointment Director of Maseco Asia, Mark Scher, commented:
“Asia’s future growth. We are delighted to enhance our offering to clients and intermediaries with a such high-calibre professional. Valerie will help to further develop MASECO Asia’s focus on the relationships that help our broad range of clients to achieve their investment goals.”

Taking the Stress out of Tax: Efficient Investment and Estate Planning for Americans

Join us on Wednesday, June 7th at 12:45 pm at The American Chamber of Commerce in Hong Kong

Unless you’ve been living on a remote island with no access to communication for the last several months, you are no doubt aware of the highly controversial U.S. Presidential election campaign in which the nation is currently embroiled. Regardless of your political affiliation or preference (or abhorrence) for one candidate over another, this election cycle has reiterated the importance of being a part of the political process. The stakes are high as the candidates have widely diverging views on topics such as economic policy, immigration reform, gun control, LGBT rights and everything in between.