The most common US tax mistakes made by Americans in Israel

This video is for general educational purposes only and should not be viewed as specific tax or investment advice.

I was thrilled to host Yosefa Huber, a US tax expert living in Israel, for our inaugural episode of Aliyah Money Talks! We discussed some of the biggest US tax mistakes Americans living in Israel should watch out for. Scroll down for a full list of topics covered.

Main topics discussed

• 1:57 – Who needs to report their income to the IRS?
• 5:28 – Who need to file an FBAR?
• 8:00 – In a nutshell, what is a PFIC?
• 9:52 – Contribution requirements for a ROTH or Traditional IRA
• 11:52 – Who needs to worry about Social Security Tax?
• 15:30 – What US tax issues should you look out for if you decide to open an Israeli corporation?
• 18:00 – If you get married in Israel, are you considered married for US tax purposes?
• 20:13 – Can someone living in Israel benefit from the Earned Income Tax Credit?
• 22:00 – Inputting a 106 Form (טופס 106) into your US tax filing
• 24:30 – Form 8938 – what is it and who needs it? Important clarification: During this part of the discussion when Yosefa describes the threshold as 200 and 300 – she means two hundred thousand and three hundred thousand.
• 26:00 – Doing the FBAR on your own

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