Over 10 years ago I wrote an article on Mexican taxes for expatriate newspapers and websites in Mexico titled, “Mexican taxes: here, there, taxes, everywhere.” To this day I still hear from people who refer to that article. Much has changed in the tax world over the last decade and the time has come for…
Few transactions are as exciting in life as a real estate deal, whether you are purchasing a home, a vacation space, or investment real estate. Purchasing property abroad is often even more exhilarating, but is also riskier, regardless of whether the transaction is completed by a foreigner purchasing U.S. real estate or an American buying…
Unbeknownst to many (including some tax professionals), the U.S. has entered into tax agreements with countries around the world that modify how people and businesses are taxed. Many are surprised to find out that local legislation is often trumped by the provisions of these tax treaties. Ignoring these agreements can result in a significant loss…
The main reason people renounce their U.S. citizenship is to take advantage of lower tax burdens abroad, but the growing unease with U.S. politics might also be contributing to a record number of Americans who are renouncing their citizenship and surrendering their passports. While we don’t recommend this to our clients, we have received questions about the financial pros…