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Tag: irs

26 Oct
capital building

Will Congress Eliminate Worldwide Taxation Of U.S. Citizens?

Talk about potentially eliminating the worldwide taxation of U.S. citizens is getting some expats excited. In theory… if the proposed change were approved… that would put U.S. citizens on par with citizens of every other country in the world except Eritrea, the only other country that also taxes citizens on worldwide income no matter where […]

15 Jan
Understanding How To Use A 1031 Like-Kind Exchange When Investing In Property Overseas

Understanding When You Can Use A 1031 Like-Kind Exchange When Investing In Property Overseas

At the Live and Invest in Belize Conference this week, several attendees asked about using a 1031 like-kind exchange to move capital overseas. Specifically, they wanted to sell investment property in the United States and use the proceeds to invest offshore. A 1031 like-kind exchange is an IRS mechanism that allows an investor to exchange […]

07 May
Transportation Bill Allows IRS To Revoke U.S. Passports

Transportation Bill Allows IRS To Revoke U.S. Passports

I’d say that a second passport is a more critical piece of your global diversification plan right now than ever before.The U.S. Senate has passed a transportation bill that includes a section giving the IRS the power to revoke the passport of any American who the IRS decides might owe US$50,000 or more in taxes. […]