BACKGROUND In his campaign and once in office, President Obama promised to provide affordable healthcare to all Americans. As the “stick” part of his carrot and stick approach, he argued that a tax is imposed on all Americans who do not have adequate health insurance and choose not to buy health insurance through one of […]
Does the health care bill affect expats? Read More »
For US persons that have not been fully compliant, I always believe that legal advice is helpful. Nevertheless, there are typically 3 options to consider. Firstly, there are those who believe that quiet disclosures are appropriate. This is where a client comes clean without the potential protection of any amnesty program. Unless someone has had
Streamlined Foreign Offshore Procedures Read More »
This is reproduced in its entirety from Forbes magazine. It touches on key issues that everyone needs to understand truly… The IRS is harping again on the dangers of hiding money or assets in unreported offshore accounts, this time as part of its Dirty Dozen tax scams over 12 days for the 2015 tax filing season. In fact, the IRS has trumpeted
Commentary on FATCA and the Amnesty Programs Read More »
Gifting in General An annual exclusion giving program is a simple and powerful method to reduce one’s taxable estate upon death. In general, an individual with a net worth over $5,250,000 in 2013 (or a married couple whose combined net worth exceeds $10,500,000) can anticipate that federalestate taxes will be due upon death. An individual
Let’s Talk About Gifts Read More »
