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Sunday, July 27, 2014

WaPo: An Interactive Guide to Decide Whether to Leave the U.S. For Lower Taxes

Washington Post, Should You Leave the U.S. For Lower Taxes? An Interactive Guide to Legal Tax Arbitrage:

Washington Post LogoWe know that corporations enjoy many of the legal rights of individuals these days. In this situation, they really have more rights, as Post columnist Catherine Rampell notes today. The number of people renouncing their citizenship for tax reasons has skyrocketed in recent years, as the IRS has stepped up its enforcement of foreign bank accounts, but individuals pay a much higher price — financially, practically, and in the popular consciousness.

To help you figure out whether or not to become an expatriate, whether corporate or individual, we’ve put together this handy flowchart. Under no circumstances should it be considered actual tax management advice.

http://taxprof.typepad.com/taxprof_blog/2014/07/wapo-an-interactive-.html

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Comments

I have lived in many parts of the world. US citizenship is, to quote Mastercard, "priceless." Renunciation is irrevocable. Unless he or she has another country he or she really prefers to call home, in my view anyone who renounces US citizenship simply to avoid taxes exhibits remarkably poor judgment.

Posted by: Theodore Seto | Jul 27, 2014 12:53:00 PM