I’m not sure how Ireland ended up the target. This country’s approach to taxation was the reason Kathleen and I moved to the Emerald Isle some 23 years ago. Now that tax position has her under fire… but, again, I can’t figure out why. Ireland imposes corporate tax at a rate of 12.5%. So does […]
What You Must Know This 2021 Tax Season Tax season is in full swing. As I’ve alerted you, Americans have a reprieve this year. Tax Day 2021 has been postponed to May 17. That means you have more time both to file… and also to figure out how to make sure you’re not paying US$1 [...]
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 […]
The Last Tax Loopholes: Two Assets The IRS Doesn't Care About... Yet The Assets You Need To Own Before The IRS Starts Taking Them Too! You know that, as an American, wherever in the world you go, Uncle Sam requires you to report on your worldwide income and assets. Most tax loopholes for going offshore were [...]
How To Live Tax Free Overseas Finally: Regular Folks Can Now Access The Wealth Building And Protection Strategies Of The Rich And Famous… Millionaires and politicians have known the benefits of building and preserving wealth overseas for centuries. Spurred by greed, necessity, or just plain resourcefulness, international strategies have protected earnings from frivolous lawsuits, onerous [...]
Planning Your Legacy And Protecting Future Generations The idea of legacy planning isn’t new. Families from the Rothschilds to the Duponts and the Kennedys have done it for a long time, and some European families have created plans that have maintained family wealth for centuries. The idea that those of us with less substantial assets might [...]
The Foreign Account Tax Compliance Act (FATCA) Despite the prosperity it has enjoyed under a free market, the United States in 2009 enacted legislation that many people view as the start of capital controls in America. That legislation is found hidden in a jobs’ bill, H.R. 2847 (also known as the HIRE Act), which became [...]
Last week, while we were all recovering from Christmas and preparing for New Year’s, the guy in charge of the tax department in Panama got an idea. “I know how to bring in more tax revenue,” this guy seems to have said to himself one morning. “I’ll change the country’s approach to taxation!” And in […]
An important question came up during the Offshore Summit I hosted in Panama City last week. The question was to do with if and how Americans must report non-U.S. real estate holdings to the IRS. Specifically, this is the question: Must an American report foreign real estate he owns on the new Form 8938?
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