#FATCA is enforced NOT by the USA directly but by the banks & U.S. #CBTax is enforced ONLY by the compliance industry https://t.co/GWwaGrnmbO — Homelander NOT (@Homelander_NOT) November 21, 2017 https://platform.twitter.com/widgets.js This post is based upon a comment of USCitizenAbroad at Brock. It makes a very important point that all of us shouldContinue reading “U.S. CBT is Enforced ONLY by the Compliance Industry”
Category Archives: US Tax Reform
The Merry-Go-Round of “Unintended Consequences”
This provision is not designed to catch individuals (I think), and certainly not Americans abroad – they are collateral damage. it’s incredibly unfair. A little more than 10 days ago, an article by a Canadian tax lawyer claimed the proposed House Bill contained two very startling changes that would affect #AmericansAbroad: BAD NEWS FORContinue reading “The Merry-Go-Round of “Unintended Consequences””
NO Evidence of Intent to apply the “”Transition Tax” to Small Business Corporations of #AmericansAbroad
It appears that we are very likely at a breaking point in this intolerable situation faced by expatriates as regards U.S. application of citizenship-based taxation. Tax reform does not happen often. It is critical that relief for expats occur in the current legislation. Many of us simply will not be around in 30 yearsContinue reading “NO Evidence of Intent to apply the “”Transition Tax” to Small Business Corporations of #AmericansAbroad”
US tax reform bill appears to confiscate 12% of retained earnings of certain Canadian Controlled Private Corporations
UPDATE November 9, 2017 Today Chairman Brady concluded the “Mark Up” period of his proposed tax legislation. The “Mark Up” period contained NO move to “territorial taxation” for individuals. It did increase increase the “proposed confiscation” of the retained earnings of certain Canadian Controlled Private Corporation, from 12% to 14%. Renunciations to increase!: BradyContinue reading “US tax reform bill appears to confiscate 12% of retained earnings of certain Canadian Controlled Private Corporations”
Twelve % Tax on Deferred Earnings Likely to Apply ONLY to Larger/Multi-National Corporations
UPDATE November 6 2017 – see below Since the new House GOP Tax Bill came out, many are looking beyond the obvious and trying to analyze what this might really mean in peoples’ lives. This post appeared on the Isaac Brock Society on Nov 2 by Stephen Kish. The following sections areContinue reading “Twelve % Tax on Deferred Earnings Likely to Apply ONLY to Larger/Multi-National Corporations”
Citizenship Taxation 