United States tax matters are very complex and can present challenges even to seasoned tax professionals. Complying with the US tax laws can be especially daunting for individuals and businesses when they have interests around the globe.
Many US persons have specific US tax issues because they live abroad, purchase property overseas, or because they are married to a non-US spouse. In any such instance, proper advance tax planning is critical.
Although they may not be aware, foreign persons with US connections are often impacted by US tax issues. Many non-US persons have a connection to the USA in some way. For example, they may make a gift or bequest to a US person; a family member may be married to a US person; perhaps a family member has been studying in the US and decides to remain there or to get a green card. Other connections can exist such as the foreigner’s 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 business is beginning to tap the US market. In any such instance, US tax issues must be considered and planned for by a specialist such as Virginia, who has a deep understanding and knowledge of the tax laws.
With the advent of the “Foreign Account Tax Compliance Act” (FATCA) US persons, including “Accidental Americans” living abroad have been recently learning of their tax filing duties. In today’s FATCA world, tax obligations must now be addressed head on, with no margin for delay. Decisions must be made whether to retain US citizenship or a US green card. Proper tax counsel is very important in considering these critical matters.
Virginia’s tax blog serves as an invaluable guide in all areas of US international tax. It will help you stay on top of legislative developments, keeping you ahead of US tax changes impacting your life, family or business. Subscribe to Virginia’s blog for direct delivery of her weekly tax posts to your inbox.
Virginia’s tax blog here is relatively new; however, Virginia has been blogging for AngloInfo about US international tax matters since 2011. All of Virginia’s old posts can be easily accessed there. Have a look! Let’s Talk About: US Tax