An unexpectedly large increase in the so-called Foreign Earned Income Exclusion in the U.S. tax year ending on Dec. 31, 2022, of 7.1%, could be a “game-changer” for many American expats living in certain countries, such as the United Kingdom, according to David McKeegan, co-head and co-founder of Greenback Expat Tax Services.
Around 26% of some 3,200 American expats living in 121 countries around the world say they are either definitely "planning to renounce" their U.S. citizenships or are "seriously considering" doing so – with most citing the tax issues they, as U.S. expats, are obliged to deal with as the reason, according to summary of the findings of Greenback Expat Tax Services' latest annual survey.
A reader asks: ‘How do I navigate the shoals of being between U.S. and French citizenship, without having to put all my assets into cash and sticking them under my mattress for a few years?’
A reader asks: ‘How do I navigate the shoals of being between U.S. and French citizenship, without having to put all my assets into cash and sticking them under my mattress for a few years?’
It used to be so easy: Americans moved overseas for work or other reasons, paid taxes – or didn’t – and then either returned home, or stayed on.
In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...
Mar-18-2023
