if i change my citizenship, can i avoid us tax?
TRANSCRIPT
“I’m a certified financial planner. I work with successful professionals and business owners who are U.S citizens living in Canada.”
“The issues are complex and no one wants to make a mistake when it comes to the IRS.”
“The IRS has thought of that…there is an expatriation tax.”
“Not wanting to pay U.S. taxes, not wanting comply with U.S. Tax Law is not a valid reason to give up your citizenship.”
“They have to approve the re linquish ing of your C itizenship or G reen Card… and the final step is an expatriation tax ”~ Jean Schnob
“They have to approve the relinquishing of your Citizenship or Green Card… and the final step is an expatriation tax”~ Jean Schnob
“You’re basically going to pay tax on…the increased value of the assets that you accumulated at the time that you became an non-U.S. Citizen.”~ Jean Schnob
“It sound easy but it ’s fa irly com plicated and it can be costly depending on the size of your estate or of the item s that you have accum ulated.”
“It sound easy but it’s fairly complicated and it can be costly depending on the size of your estate or of the items that you have accumulated.”