Xraised Interview with Financial Advisor Andrew Haley: Empowering Expats and Japan Enthusiasts

MECHANICSBURG, PA, UNITED STATES, February 25, 2025 /EINPresswire.com/ -- Xraised is excited to present an insightful interview with Andrew Haley, co-founder of Ando Arashi, a boutique investment agency and tax preparation firm. As an experienced financial advisor and US Navy veteran, Andrew has built his career helping US expats, Japanese enthusiasts, and individuals looking to move to Japan navigate the complexities of finance and tax obligations abroad.

In this interview, Andrew shares his journey from a middle-class background to becoming a financial advisor after his time in the US Navy, where he worked in business operations and budget planning. His experiences living globally, particularly in Japan, shaped his desire to help others achieve their financial goals. His passion for serving those interested in Japanese culture, travel, and expats already living there is deeply personal, as Andrew is currently navigating the process of moving back to Japan with his family later this year.

Andrew emphasizes that being a financial advisor today goes beyond just managing investments; it requires a holistic approach to a client’s financial life, including tax planning, estate planning, life insurance, and more. Through his firm, Ando Arashi, Andrew provides both financial planning and tax preparation services for Americans living abroad.

He predicts that the trend of US expats living abroad will only grow, especially as the ability to work remotely becomes more widespread. He encourages anyone considering moving overseas to properly plan ahead to avoid common pitfalls, particularly with regard to US tax obligations.

LEAVING THE USA? READ HERE FIRST

As an international financial advisor, I constantly educate people about the requirements for Americans living abroad. With the world becoming more global, more individuals are working or retiring overseas. I think this global mobility is a beautiful thing…but it comes with its unique challenges.

Recently on YouTube, I came across the story of Rania, a young woman from Virginia. She is leaving the USA to achieve a more balanced life overseas. She suffers from lupus, made worse by our American diet and stress.

But in the video, perhaps the most important requirement for Americans abroad was not even mentioned...and it could cost her big!

As an American, Rania is subject to worldwide taxation by the IRS. She still needs to file and pay US income taxes overseas every year, even if she has a foreign employer and is paid wholly in local currency. Failure to meet this obligation results in IRS penalties!

Additionally, if she opens a local bank account abroad and her cumulative balance of all her foreign accounts ever exceeds $10k, then she also needs to file the FINCEN Form 114, aka the Report of Foreign Bank and Financial Accounts (FBAR). Failure to file this form incurs a $10,000 penalty.

Living overseas does not mean escaping these requirements. Almost all foreign banks track their American customers and share this information with the US Treasury Department.

Short of renouncing your US citizenship (a rare choice), you have no choice but to continue to file and pay US income tax and disclose your large foreign bank accounts

Rania believes she is cutting all ties to USA, but she's in for a very rude awakening soon! For anyone looking to move abroad, understanding these regulations is essential to ensuring a smooth transition and avoiding future financial headaches.

For more information and expert financial advice, learn more about Andrew’s services at Ando Arashi.

Rania’s story is from CNBC Channel on YouTube
https://youtu.be/pGqx6Isikyg?si=91eyZJ2ejsZ5bijD

To catch the full interview and learn more about Andrew’s insights into the future of financial advisory for expats, visit Xraised.

Media Contact

Andrew Haley
Ando Arashi LLC
a@ando-arashi.com
878-223-0083

Gianmarco Giordaniello
Xraised
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