Blogs + News
Alexander Marino recently appeared on the Global Investment Voice Podcast to discuss the benefits of renouncing US citizenship on March 14, 2024.
Alexander Marino guested on the Snowbirds US Expats Radio Podcast about the benefits of renouncing your US citizenship on January 17, 2024.
Kenneth Keung and Evan Crocker are quoted in Investment Executive article titled “CRAʼs 10% interest rate on overdue tax raises risks“, published on November 13, 2023.
Kenneth Keung quoted in Investment Executive article titled “Window closing on family business transfers using Bill C-208”, published on October 10, 2023.
Kenneth Keung and Evan Crocker are quoted in the Investment Executive article titled “Tougher minimum tax regime poses planning challenge”, May 8, 2023
Have you ever wondered how much your US citizenship is costing you? Why renouncing could save you hundreds of thousands and open new doors for financial opportunities.
The weeks and months leading up to June 15 are typically referred to as tax season for the more than eight million US citizens living abroad. This time of year can also feel a lot like Groundhog Day. That’s because US expats are reminded yearly of the cost of maintaining their US citizenship, even though they don’t call the US home.
As US expats prepare for another expensive and stressful tax filing season, we’ve compiled a list of items that illustrate a few of the standard costs of their US citizenship while living abroad – in addition to the headaches, stress and sleepless nights that come with it.
The above list only scratches the surface regarding unexpected US tax implications. There are other hurdles awaiting US expats when it comes to taxes and regulations (think gift tax, generation-skipping tax, income splitting, medical costs, Obamacare tax on investments, and scores of other headaches coming down the legislative pipeline).
But here’s the silver lining: If you are considering renouncing your US citizenship (the right way), you can bid farewell to all these double-taxation nightmares. No more worrying about Uncle Sam dipping into your pockets while alive or dead. But remember: you need to renounce the right way!
In our webinars, we cannot help but stress that renouncing your US citizenship must be done properly. The US has a whole host of tricks and traps you’ll need to avoid (including the exit tax, inheritance tax, travel issues, loss of benefits, and the threat of being barred from the US for life) during the process.
Our team of experienced US lawyers represents between 600 and 900 US citizens and green card holders who decide to renounce their US status correctly every year on six continents – more than any other firm in the world. We can also help expedite your renunciation process by identifying US embassies and consulates with shorter wait times.
If you or a family member is a US citizen or green card holder considering renunciation, we invite you to visit our dedicated webpage for more information. This page contains links to register for our upcoming renunciation webinars. You can find one tailored to your geographic location in our events listings.
These webinars thoroughly review everything you need to know about the US citizenship renunciation process and available options should you decide to take the next steps.