United States tax matters can be confusing to even the most seasoned American expat. In addition, although they may not realize it, foreign persons with US connections may also be impacted by US tax issues. Many non-US persons have a connection to the USA in some manner. Perhaps a family member is married to a US person; perhaps a family member has been studying in the US and may decide to remain there or to get a green card. Other connections can exist such as the desire to purchase US real property as an investment or a vacation home; or a desire to invest in the US securities market; maybe the family has a business which is now taking on US connections, for example, by selling goods or providing services into the US. In any such instance, US tax issues must be considered and planned for.
Expatriates — Thinking You Don’t Owe Tax? No Excuse for Late Filing of Tax Returns
Many times I will hear individuals living and working overseas say that they did not file a US tax return because they believed they did not owe any […]
Estate Tax: Joint Ownership of Property with A Non-US Spouse
My earlier blog post gave a head’s up to married couples about US tax issues that can arise when assets are owned jointly with a spouse who is […]
Meghan and Harry – KISS! (Keep It Separate Sweetheart) – US Gift Tax Perils of Joint Ownership
My earlier blog post gave a head’s up to married couples about jointly owned assets when one spouse is a non-US citizen. The US Estate and Gift tax […]
Should You Hold Assets Jointly With Your Non-US Citizen Spouse?
Spouses often hold title to bank accounts, brokerage accounts and real property as joint tenants with right of survivorship. Yet, just as often they don’t understand the ramifications […]
Sharia’s Impact on US Tax – Multiple Wives, Riba, Inheritance Under the Quran and More
Given our global economy, I think we can all agree that it is no longer possible for advisors in the tax, wealth management and legal sectors to ignore […]
The Perfect Storm: Understanding Sharia Law and Its Potential US Tax Impact
In today’s world, it is no longer possible for practitioners to ignore the possible implications of another country’s laws. My earlier blog posts (here and here) set the […]
Expatriation Update: Following Boris Johnson, Many Quitters Quit the USA!
The Treasury Department just released its “Name and Shame” List for the third quarter of this year. The list shows that for the third quarter, 1,376 Americans renounced […]
What Do We Do When a Foreign Country’s Laws Impact US Tax?
Given today’s global economy it comes as no surprise that US taxpayers and the Internal Revenue Service (IRS) must increasingly consider the interactions between US and foreign laws […]
Don’t Underestimate Sharia’s Impact on Your US Tax Plan
In the Middle East North African region where I am based, I frequently see Sharia law issues arise that impact the US tax analysis of a particular case. […]