La Torre Jeker: Impact of TCJA on expats’ overseas properties’ finances

Almost from the moment President Trump signed his Tax Cuts and Jobs Act into law on Dec. 22, 2017, the expatriate American-focused tax advisory industry has focused on its implications for those Americans with an ownership interest in an overseas company, and their consequent new tax obligations.

But that wasn’t the only aspect of the Tax Cuts and Jobs Act that has significant implications for Americans who live outside the U.S., Dubai-based tax expert Virginia La Torre Jeker, pictured above, says. Here, she addresses in detail how the TCJA impacts Americans overseas who own their own homes.

  • News

U.S. Treasury finally cuts expat small-biz owners some GILTI slack

Campaigners for fairer treatment for American citizens abroad are claiming a victory this morning, as news emerged that the U.S. Treasury had finally cut owners of small businesses located abroad some slack yesterday, by enabling such individuals to choose to be treated like a corporation for tax purposes, and thus reduce their tax burden.

  • Tax

Treasury official reported to hint at plans to address GILTI concerns

The U.S. Department of the Treasury is planning to address a much-criticised aspect of the Tax Cuts and Jobs Act that currently would see individual American taxpayers facing potentially higher taxes on their overseas income, a report published on Thursday said, citing a Treasury official. 

  • Tax

Frustration across Expatland as ‘final Transition Tax’ regs published

American owners of small businesses who are resident outside of the U.S. are reacting with frustration, and in some cases dismay, to the news that the U.S. government has published its final draft of the so-called Transition Tax element of Donald Trump’s Tax Cuts and Jobs Act without taking into account concerns about what the legislation would do to them.

  • News
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Opinion

Essential Financial Acronyms for Americans Living Abroad

Essential Financial Acronyms for Americans Living Abroad

The American Expat Financial News Journal’s “Essential Financial Acronyms for Americans Living Abroad” is designed to help our fellow Yanks in Expatland to navigate the international seas of the financial...

May-05-2022