Filing Requirements of Americans Abroad Our very own Senior Tax Consultant, Rainer Fiege-Kollmann, EA, recently had his article Filing Requirements of Americans Abroad published in the…
Savvy people often implement international asset protection and estate planning structures. The problem is they often fall prey to entity salesman claiming to be…
The March 15 tax deadline is here! It's time to file your partnership (Form 1065), S-Corporation (Form 1120S), and Foreign Trust with U.S. Tax…
Muslims are required to arrange their affairs such that their estates are distributed pursuant to Sharia law’s share system.
This is easily accomplished with assets located within a Sharia law country because estates are, by default, distributed according to Sharia law’s share system.
Ensuring assets located outside of a Sharia law country are distributed in accordance with Sharia law is not quite so straight forward, however. The reason is that many countries don’t recognize Sharia law and, absent advanced planning, will distribute estates in accordance with local law rather than Sharia law. Even if the country where the assets are located recognizes Sharia law estate distribution principles, they likely won’t recognize the concept of plural marriage, meaning assets passed to any wife, other than the first wife, would likely be subject to estate tax.
My article "Tax Reform: What's in it for expats?" was published in FAWCO's magazine "Inspiring Women."
FATCA Delusions and Twitter Wars
When it comes to FATCA and tax compliance, don’t listen to what you want to hear, listen to the truth. There are some unscrupulous advisors out there telling people not to comply with U.S. tax laws because they are unjust.
Unjust or not, failure to comply with the law can have severe consequences, from monetary penalties to jail!
Check out my vlog on the topic!
Expatriation Myths Busted
I am going to be busting some common expatriation myths in this post. If you are reading this post, you most likely know that giving up your U.S. citizenship is referred to as “expatriation”. There are several reasons people expatriate; their new country of citizenship doesn’t allow dual-citizenship, they don’t want to deal with the U.S. tax system, they have conflicting political views, or some other reason.
Deathly TaxingMy most recent article, Deathly Taxing, discusses U.S. gift and estate taxes and how they can affect multinational families.I wrote this article prior…
IRS Releases 2018 Inflation Adjusted Amounts
Every year the IRS adjusts certain amounts for inflation. For example, they generally adjust the standard deduction, the foreign earned income exclusion, and the estate tax exclusion, to name a few. Now that the 2018 inflation adjusted amounts have been released, we wanted to inform you of the most notable changes.