Ep 22: What Is English For "Covered Expatriate"?
Jul 24, 2024 ·
7m 43s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
If you are a U.S. citizen or a long-time resident (8 of the last 15 years), and you decide to leave the U.S. permanently, you could become a covered expatriate....
show more
If you are a U.S. citizen or a long-time resident (8 of the last 15 years), and you decide to leave the U.S. permanently, you could become a covered expatriate. You don't want to be a covered expatriate since there is a possibility you may have to pay an exit tax.
In this shortie, we tell you who a covered expatriate is. Three main tests determine whether you are a covered expatriate and the potential implications.
------------------------------------------------------------------------------------------
The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page The International Money Cafe
Or by following us on social media:-
Follow us on social media:- LinkedIn; Instagram; Twitter (X); Facebook
show less
In this shortie, we tell you who a covered expatriate is. Three main tests determine whether you are a covered expatriate and the potential implications.
- The income test, the net worth test, and the certification test.
- Being a covered expatriate can have financial implications, such as potential liability for an exit tax and complications with gifts and estate planning.
------------------------------------------------------------------------------------------
The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Be sure to join the conversation by visiting our page The International Money Cafe
Or by following us on social media:-
Follow us on social media:- LinkedIn; Instagram; Twitter (X); Facebook
Information
| Author | The International Money Cafe |
| Organization | MANASA NADIG |
| Website | - |
| Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
