🎓💰 $39 Billion Student Loan Forgiveness Package

July 20, 2023 [image] [Event](=) | [Become our Client]() Welcome to the Weekly Rundown. We're getting into Biden's latest move - a cool $39 billion student loan forgiveness package. If you're on the list, here's what it means: Your federal tax bill? Zero. Thanks to a provision tucked into the American Rescue Plan of 2021, loan forgiveness is federally tax-free until 2025. But... Your state might not play the same game, and could still slap you with a tax bill on that forgiven balance. So, the takeaway is this - even with forgiveness, don't forget about tax planning. Egypt's Golden Ticket: New Investment Program Opens Doors at $50,000 [image](=) Egypt's opening the sphinx's vault. They've rolled out a new residence-by-investment program - permits ranging from 1-5 years for investments starting at a mere $50,000. Buy real estate or deposit in a state-owned bank, and you're in. Plus, you can renew as long as you keep that investment. Physical presence? Not required. But keep in mind - Egypt's got no path to permanent residency or citizenship just yet, but the wheels are turning on that front. So, if you've got some spare change and crave a bit of ancient charm, Egypt might be your next stop. Read the full story [here](=). [image] $39 Billion Freebie: Biden's Student Loan Forgiveness and Your Tax Bill [image]() President Joe Biden just announced $39 billion in student loan forgiveness. Good news for 804,000 borrowers - Uncle Sam isn't touching your federal tax bill. But hold on, your state might have a different plan. Yes, that's right, the tax-free ride only covers federal. So, if you're affected by this, don't forget to consider your state tax implications. Remember - with big forgiveness comes big tax planning. Read the full story [here](). [image] Turkey's Hot Ticket: The $200K Golden Visa [image]( Turkey is not just about the beautiful Istanbul skyline anymore. They're cooking up a sizzling new "Golden Visa Program". After playing a winning hand with their Citizenship by Investment Program, they're now considering a residence-by-investment program. While we're still waiting on the price tag, industry insiders are hinting at a $200,000 entry ticket. The cherry on top? This could lead to Turkish citizenship after five years. Keep this one on your radar. Turkey's real estate just got a whole lot more interesting. Read the full story [here](. [image] [image]() NOMAD BEACH INDEX Discover the world’s best beaches for 2022. The Nomad Beach Index was designed to highlight the best beaches in the world on the basis of not just beauty but also available services, taxes, immigration, and safety. [BROWSE ALL BEACHES]() Biden Family Under the Lens: IRS Whistleblowers Spill Everything [image]() The House Oversight Committee is set to hear from two IRS whistleblowers as part of an ongoing investigation into the Biden family's alleged influence peddling, tracing back to the Obama administration. This development comes amidst several political activities, including President Biden's meeting with Israeli President Isaac Herzog and rising tensions within the Democratic Party. The investigation coincides with ex-President Trump's legal hurdles and discussions about the Chinese Communist Party's persecution of faith groups, adding a new level of complexity to the current political landscape. Read the full story [here](. [image] U.S. Heat Dome Continues: Key Takeaways from the Ongoing Heatwave [image]() A severe heatwave, caused by a stubborn "heat dome" or ridge of high pressure, is causing records to tumble across the U.S. with over 58 million Americans expected to experience triple-digit temperatures. Heat advisories and excessive heat warnings have been issued across 16 states, with health concerns due to high heat and humidity. This particularly long-lasting heatwave has led to record temperatures in places such as Phoenix and El Paso. Moreover, the high temperatures are not just confined to dry areas; moisture-rich regions in the South are experiencing hazardous heat index levels. Experts warn that these conditions could contribute to coral bleaching and fuel powerful hurricanes. Read the full story [here](). [image] Dubai's Soaring Waterfront Property Prices Unlikely to Drop [image](=) Waterfront property prices in Dubai have seen a considerable surge, particularly post-pandemic, with areas such as Palm Jebel Ali, Jumeirah Islands, and Bluewater Islands leading the charge. High net-worth individuals globally have shown strong interest in these prime residential property markets, leading to a significant return on investment as property rates more than doubled in some locations. With the launch of Palm Jebel Ali, a project twice the size of Palm Jumeirah, it was speculated whether prices may stabilize or decrease. However, industry executives believe it could take several years for this to happen, as existing waterfront properties maintain their allure due to established locations and iconic surroundings. The newly launched Palm Jebel Ali has also attracted significant interest, potentially offering high returns for early investors. Read the full story [here](=). [image] [image]() NOMAD REAL ESTATE YIELD INDEX Explore the citizenship options using our interactive citizenship map. Click the country to reveal its citizenship information. The greener the color, the more ways to obtain a citizenship for that particular country. [EXPLORE]() Canada's Uncontrolled Wildfires Affect Air Quality Across the US [image]( The wildfire situation in Canada has grown worse over the past month, with 880 wildfires burning across the country, 580 of which are out of control. The wildfires have resulted in widespread air quality alerts, affecting about 70 million people in the US as the smoke crosses the border. A total of 4,152 wildfires have burned around 25 million acres so far this year in Canada, marking the worst fire season on record. This surge in wildfires has largely been attributed to an increase in lightning caused by a jet stream from the Pacific Ocean, exacerbated by an El Niño weather pattern which is producing more heat, storms, lightning, and rain across the continent. Read the full story [here](=). [image] Living the 'Dolce Vita' in Rome: A City of Contrasts [image]() Journalist Andrea Carlo narrates his experience of moving to Rome to pursue a PhD. As a Brit raised Italian, he found the Italian capital to be a paradox of beauty and chaos, all interwoven. Rome, despite its renowned historical beauty and omnipresent charm, struggles with urban decay and public service issues due to years of poor local administration. However, Carlo appreciates the spontaneous nature of Roman life, full of vibrant social interactions and unexpected events. Yet, he also sheds light on the city's dark side, noting the skyrocketing housing market due to demand for holiday rentals, and the impact on young residents who struggle to afford living independently. Read the full story [here](). [image] Greek Election Victory Boosts Golden Visa Investments [image](=) Prime Minister Kyriakos Mitsotakis' victory in Greece's recent election spells good news for the nation's economy and investors. Since assuming office in 2019, Mitsotakis has facilitated a robust economic recovery, which has seen Greece's GDP return to pre-2010 levels, halving unemployment from a peak of 28%. This has fostered a climate of investor confidence, as reflected in the Athens Stock Exchange General Index reaching a decade-high level. Greece’s economy is now only one step away from an investment-grade rating. For Golden Visa investors, Mitsotakis' continued administration promises growth, with record numbers of applications expected in 2023. With the recent surge in minimum investment requirements for real estate, options like capital investment, bank deposits, and government bonds are becoming increasingly attractive, especially as Greek 10-year bonds yields fell to 3.55%. The country's economic stability under Mitsotakis’ administration presents a prime opportunity for investors to maximize their benefits. Read the full story [here](=). [image] [image](=) [image] Less than 50 Days. Less than 50 Rooms Available. Will you grab one of the final rooms to join us at THE EVENT? [LOCK IN MY ROOM]() Strategies to Avoid the Net Investment Income Tax [image](=) As inflation continues to rise while thresholds for net investment income tax remain unchanged, more investors are finding themselves paying the net investment income tax. The 3.8% tax is applied once the Modified Adjusted Gross Income (MAGI) crosses a specific limit ($200,000 for single filers and $250,000 for married couples filing together). This has resulted in a significant increase in the number of taxpayers affected by the levy, with approximately 7.3 million paying nearly $60 billion in 2021. Experts suggest strategies such as purchasing municipal bonds, strategic asset location, and splitting large transactions like Roth IRA conversions over multiple years, to minimize or avoid the net investment income tax. Read the full story [here](=). [image] [image](=) Create and Implement Your Own Bespoke Global Citizenship Plan [CREATE YOUR BESPOKE PLAN]() = Feel free to check out our [SERVICES]() [ARTICLES]( [PODCAST]() [Manage Preferences]( | [Unsubscribe]( Nomad Capitalist LLC Kidnah, Block A Plot 4 Fujairah, Al Fujayrah United Arab Emirates (the) +1 (979) 966-6623