How to Get Your Finances in Order Before Moving to the US

Saturday, August 13, 2016, 6:00 AM | Leave Comment

There are so many things to think about when moving to the United States: you have to find gainful employment, a region or city to dwell in, a home to live in, and a viable social circle to have fun with.

However, by taking a few easy steps before moving, you can remove financial worry from your planning calculus.

Here are a few ways to improve your financial situation for the big move.

How to Get Your Finances in Order Before Moving to the US

  • Simplify Your Financial Life

    People who are moving to the U.S. should attempt to cut down on the number of checking accounts, savings accounts, retirement accounts and personal assets and liabilities that they have.

    Simplifying financial affairs limits the taxation risk that you are exposed to in your new home, and will help decrease the number of financial ties that you have to your old home.

  • Learn the United States Tax Code

    Obviously, this is not to suggest that you learn the entire sprawling system.

    However, it is important to know where U.S. tax laws differ from the taxation regime in your current country of residence.

    Unexpected tax levies could cost you thousands of dollars in unexpected fees, and the government agents collecting that money will not look fondly on what it perceives to be attempts to swindle it out of money.

  • Simplify Personal Relationships

    In the United States, financial issues are much more complex for two single people cohabitating than a married couple.

    Getting a green card through marriage is one of the easiest ways to ensure that your relationship will simplify your financial life, not complicate it.

    Marriage also opens many other possibilities up for new arrival cases. There are many immigration lawyers across the country that can help a couple down this path to legal citizenship.

  • Have Employment Before Moving

    Having a job before moving to the U.S. is extremely important: it will make acquiring a visa much easier, not to mention the task of finding an apartment and a vehicle.

    Even if the job is not ideal, having employment means that you can hit the ground running with paychecks rather than having to live off a savings account for an indeterminate amount of time.

Financial stress is one of the most intimidating aspects of moving, but with proper preparation and ample research, you can turn this potential weakness into a strength.

Studying the tax code, researching relevant immigration laws and statutes, and simplifying your financial existence are all savvy steps to take before the big international move.

Author BIO

Anica Oaks is a Freelance writer and web enthusiast. Read some of her published work on her Google+ page.

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