Whether you have funds in an offshore account, generate foreign business revenue, or invest outside of the United States, your activities are likely to require special care and handling to stay in compliance with Internal Revenue Service regulations. If you have control of foreign income and you aren’t readily familiar with the acronyms FBAR, FACTA, OVDP, and SFCP, it’s time to seek professional assistance. While your immediate impulse may be […]
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In 2012, foreign nationals conducted about 17 percent of real estate transactions in California. They may have engaged the professional assistance of real estate agents and brokers to streamline the purchase process but without thoughtful attention to legal details around international tax planning strategies, they may be putting their U.S. assets at risk of significant gift and estate tax consequences – often to the tune of 40% of the property […]
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Gift and estate tax issues can be especially complex in the case of an individual whose domicile or property spans multiple countries. Each country has its own gift and estate tax laws, and when a decedent resides in one country while owning property in another, the estate may be subject to both higher and duplicative taxes. A huge potential variable is the existence of an estate and gift tax treaty […]
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