McGowin Tax

05/29/2026

🌎 Own rental property outside the U.S.?

Many investors are surprised to learn that foreign real estate follows different depreciation rules - including NO bonus depreciation.

But that doesn’t necessarily mean cost segregation is useless.

In this week’s video, we discuss:

✔️ Foreign rental depreciation rules
✔️ What assets can potentially be separated
✔️ Why HVAC, furniture, and electrical systems matter
✔️ When cost segregation studies may still create tax savings over time

🎥 Watch the full video: https://youtu.be/-kScblp7Xf8

05/26/2026

🚨 Wait… Americans have to PAY to renounce citizenship?

This week we’re unpacking one of the more surprising moments in international tax history.
FATCA increased reporting requirements for banks worldwide - and during the same era, the cost to renounce U.S. citizenship jumped from $450 to more than $2,000.

Coincidence? You decide 👀

📖 Read the newsletter: https://mcgowintax.com/articles/how-depreciation-works-on-foreign-rental-properties-and-how-to-maximize-it/

🎥 Watch the full video: https://youtu.be/NY1njuLmOGE

💬 Tell us - had you heard of FATCA before?

05/25/2026

Renouncing U.S. citizenship just became significantly less expensive.
The fee to expatriate has officially been reduced back down to $450 - but before anyone rushes into the process, there’s an important reality:

The government fee is rarely the hardest part.
For many expats and “Accidental Americans,” the bigger questions are:

• Are you considered a Covered Expatriate?
• Do you have past filing requirements?
• Could exit tax rules apply?
• What planning should happen first?

In this week’s video, Alex walks through:

✔️ How renunciation works
✔️ Why the fee changed over time
✔️ FATCA’s impact on expats abroad
✔️ Exit tax considerations
✔️ Steps to consider before making a permanent decision

📚 Read the newsletter: https://mcgowintax.com/articles/how-to-renounce-us-citizenship-in-2026-the-lower-fee-the-exit-tax-and-what-to-plan-for

▶️ Watch the full video: https://youtu.be/NY1njuLmOGE

📩 Contact McGowin Tax to discuss your situation:

Let's find out how we can help you with your international tax needs.

05/21/2026

Thinking about doing a cost segregation study?
⚠️ Don’t do it just because it gives you more deductions.

Here’s the catch:

If you can’t actually use those deductions, you may just be pushing them into the future due to passive activity loss rules.

That means:

➡️ No immediate tax benefit
➡️ Just shifting deductions around

Cost seg works best when:

✔️ You have taxable rental income
✔️ You can use the deductions right now

👉 Read the full breakdown here: https://mcgowintax.com/articles/how-depreciation-works-on-foreign-rental-properties-and-how-to-maximize-it

👀Watch the full video: https://youtu.be/-kScblp7Xf8

05/18/2026

🚨Breaking News 🚨📣𝗠𝗰𝗚𝗼𝘄𝗶𝗻 𝗧𝗮𝘅 𝗖𝗶𝗿𝗰𝗹𝗲 is here! 🌍

After years of one-on-one calls with expats, digital nomads, and cross-border investors, one thing kept coming up: most of you don't need another generic tax newsletter. You need a place to ask the in-between questions.

That's why we're launching The Expat Tax Coach Community - a private community built specifically for U.S. expats, digital nomads, and globally mobile professionals.
Inside, you'll find:

🌍Live Cross-Border Tax Series sessions hosted by Alex, recorded for replay
🌍A vetted Rolodex of immigration attorneys, foreign tax pros, and country-specific advisors
🌍Real expat tax stories - how people are actually navigating FEIE, FBAR, Form 5471, and residency decisions
🌍A space to ask the questions that don't quite warrant a full consultation but deserve a real answer

A few details on access:

𝗧𝗮𝘅 𝗖𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲 𝗣𝗮𝗰𝗸𝗮𝗴𝗲 𝗰𝗹𝗶𝗲𝗻𝘁𝘀: You're in automatically. Watch your inbox this week for your access details.

𝗡𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲𝗿𝘀: A three-month FREE trial is coming your way. No credit card required.

Sign up for our FREE 3 month trial - no credit card required - here: https://community.mcgowintax.com/checkout/community-membership

Watch the video to learn more: https://youtu.be/iF_sP4_X_RE

Most "expat communities" are either Facebook groups full of bad advice or paywalled forums that go quiet after week two. We're going for something different - tight, useful, and grounded in real client work.

If you've ever Googled a Form 8938 question at midnight from Lisbon, this is for you.

Full launch details drop in this week's newsletter.

Sign up for our newsletter here: https://mcgowintax.com/

05/13/2026

🚨 Major update for foreign corporation owners…

Starting in 2026, all net income from a controlled foreign corporation is taxable in the U.S. immediately - whether you take distributions or not.

There’s now only ONE way to defer that income:
✔️ The high-tax exception

If your foreign corporation pays at least 18.9% in corporate tax, you can still defer U.S. taxes until you take the money out.

If not?

You’re reporting that income now.
This is a huge shift - especially for those operating in low-tax jurisdictions.

👉 Read the full breakdown: https://mcgowintax.com/articles/gilti-is-gone-what-the-2026-tax-law-change-means-for-your-foreign-corporation

👀Watch the video: https://youtu.be/UFlnnBmTxuI

05/12/2026

Do Americans abroad get taxed just for having money in a foreign bank account?
Not exactly.

The FBAR was originally introduced to help track potential money laundering activity - not to directly tax foreign savings accounts.

In this short video, Alex McGowin explains:

✔ What the FBAR actually is
✔ The $10,000 aggregate threshold
✔ Whether foreign account balances are taxed
✔ What U.S. expats need to report

If you have foreign accounts, this is one of the most commonly misunderstood filing requirements.

🎥 Watch the video & learn more: https://youtu.be/nVajO0ZimNU
🌎 McGowinTax.com

05/11/2026

Forgot to file your FBAR? You're not alone - and you've got more options than you think. 🌍

This week, Alex took two real questions straight from Reddit and walked through what every US expat needs to know about foreign account reporting.

Why does the US even care about your foreign savings account? What happens if you've been abroad for years and never filed? And which catch-up program actually fits your situation?

No fluff, no scare tactics - just clear answers from someone who handles these cases every week.

👉 Watch the full video:

Think the FBAR is a tax? It's not - but missing it can still cost you thousands.In this episode, Alex pulls two real questions from Reddit and breaks down wh...

05/07/2026

🚨 Missed FBAR Filings? Don’t Panic.
Even if you’ve missed years of foreign bank account reporting…

You may be able to:

✔ Get back into compliance
✔ Avoid major penalties
✔ WITHOUT amending your tax returns

The IRS has specific programs designed for this-but waiting only makes things worse.
Penalties can stack up fast.

If you’ve been putting this off, now is the time to take a look at your options.

🎥 Watch the breakdown: https://youtu.be/EfOxVw3TnIs

👉 Read the full article for a deeper breakdown: https://mcgowintax.com/articles/missed-international-tax-forms-here-s-how-to-get-back-into-compliance-without-facing-massive

05/06/2026

🚨 Major update for foreign corporation owners…

Starting in 2026, all net income from a controlled foreign corporation is taxable in the U.S. immediately - whether you take distributions or not.

There’s now only ONE way to defer that income:

✔️ The high-tax exception

If your foreign corporation pays at least 18.9% in corporate tax, you can still defer U.S. taxes until you take the money out.

If not?

You’re reporting that income now.
This is a huge shift - especially for those operating in low-tax jurisdictions.

👉 Read the full breakdown: https://mcgowintax.com/articles/gilti-is-gone-what-the-2026-tax-law-change-means-for-your-foreign-corporation

👀Watch the video: https://youtu.be/UFlnnBmTxuI