Capital Gains Tax Solutions Podcast Living Tax-Free Overseas: Top Tax Strategies with Mikkel Thorup
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Mar 21, 2026 Mikkel Thorup, expat consultant and founder of ExpatMoney who helps high-net-worth clients with residency, citizenship, and offshore structuring. He contrasts U.S. citizenship taxation with residency systems. He debunks offshore myths. He outlines state-tax timing, FEIE rules, territorial residency options, renunciation and exit tax risks, and estate/Trust strategies.
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U.S. Taxes Follow Citizenship Not Just Residency
- U.S. citizens are taxed on citizenship rather than residency by default.
- Mikkel contrasts the U.S. and Eritrea as the only citizenship-based tax systems, meaning Americans may owe worldwide taxes even when living abroad.
Legitimately Establish A No Tax State Before Exiting
- Do establish genuine state residency in a no-income-tax state before moving abroad to avoid state tax liability.
- Mikkel recommends changing driver's license, voter registration, utility bills, and selling the prior primary residence as proof.
Use FEIE To Exclude Earned Income Abroad
- Use the Foreign Earned Income Exclusion (FEIE) to shield earned income up to the current threshold.
- Mikkel explains FEIE (about $126,500 per person) requires 330 days physical presence or bona fide residency and only covers earned, not passive, income.