As many Miami residents who earn income abroad may be aware, the United States is one of only two countries in the world that taxes its citizens and residents (collectively, “U.S. taxpayers”) on their worldwide income. Therefore, a U.S. taxpayer that earns only foreign source income will be subject to U.S. federal income tax on… Continue Reading
Joshua Kaplan
Expatriation Lite: Leaving the U.S. Tax System While Retaining Your Citizenship
Real Estate Professionals Navigating the New 3.8% Medicare Tax
With a new year comes a new beginning. While New Year’s Day is typically viewed as a chance to start fresh and make changes in our personal lives, for many people New Year’s Day in 2013 took a different tone. Instead of focusing on making New Year’s resolutions, many Americans were focused on the “fiscal… Continue Reading
Tax Structuring of Foreign Investment in South Florida Real Estate
Foreign Investment In South Florida Real Estate Heats Up According to a recent report, international buyers are driving sales at several large real estate projects in South Florida. The 200-unit Trump Hollywood sold out less than two years after lenders foreclosed on the 41-story oceanfront tower. In Miami-Dade County, all 1,800 units at Icon Brickell… Continue Reading
Exit Tax & Expatriation From The United States
Posted in Foreign Investment & Tax Earlier this month, Denise Rich, the wealthy socialite, songwriter and former wife of pardoned billionaire trader Marc Rich, renounced her U.S. citizenship in order to expatriate from the United States and save money on taxes. With an increase in taxes expected to occur in 2013 and the multitude of foreign countries offering a desirable lifestyle (with… Continue Reading