Many multinational millionaires know that Americans are subject to income tax on our worldwide income, and estate tax on our worldwide assets at death, but far fewer foreigners seem aware of how US taxes can snare non-US persons with US investments. Foreigners who have bought US dividend-paying stocks have probably seen US withholding taxes as […]
My latest article in STEP HK’s August Newsletter is on “US Tax Structures for Hong Kong Residents“. Unlike with Mainland China, the US does not have a double-tax treaty with Hong Kong (more on tax treaties here), but there are still several ways Hong Kong residents may use US structures depending on whether they are […]
US Federal taxes are complicated enough, but residents of most US states know that state and local taxes (sometimes known as “SALT”) add an additional level payments and possible complexity. While US persons (citizens and permanent residents) are generally taxed on our worldwide income and estates regardless of where we live in the world, many […]
On September 12th at noon in Hong Kong, I am pleased to be presenting an in person seminar at the American Chamber of Commerce in Bank of America tower on how to pay less US tax through the use of qualified accounts (including IRA, 401k, 529, and HSA accounts, all of which can be accessed […]
A recent article on @MichaelKitces‘s blog “Nerd’s Eye View” describes the important difference between tax residence and tax domicile. In this case, the article refers to tax domicile issues with regard to US state income taxes, which differs from the citizenship-based “tax net” covering US persons regardless of state domicile. Domicile-based taxation is also seen […]
For non-US ETF portfolios, I find it useful to keep handy short lists of ETFs listed on other top ETF exchanges in London, Hong Kong, Singapore, and Tokyo. Here is a short list of the top 55 London-listed ETFs I look at, mostly for my own reference when I need to look this up on […]
After changing jobs, or even getting posted on an expat assignment by the same company, employees generally have the freedom to do a 401k rollover of their retirement savings account to an IRA account at their choice of brokerage firm or mutual fund company. Doing a 401k rollover to an IRA, and consolidating all your […]
In the US, many employees have 401(k) plans that automatically deduct a significant portion of their salaries into a tax-advantaged retirement account. Many 401(k) plans only allow these savings to be invested in a limited selection of mutual funds, and some 401(k) plans only offer expensive, poorly performing funds rather than low-cost index funds or […]
We are pleased to host California asset protection expert Vivian Yuan as a visiting speaker on July 12th at 6:30pm at our boardroom at Eaton House, Hong Kong. Vivian Yuan is based in Silicon Valley, California, where she runs a law firm providing estate planning, asset protection, tax planning, and business formation services in California, […]
Thanks to our friends at American Pacific Tax for pointing out that the deadline for US citizens and green card holders to report their foreign financial accounts to the Financial Crimes Enforcement network (FINCEN) has now been moved to April 15th, instead of the previous deadline of June 30th.