Get ready to tackle the complexities of US tax law as you step off American soil! In this captivating episode, Roy Saunders join forces with tax maestro Adam Smith from Evelyn Partners to navigate the treacherous terrain of capital gains, trust income, and the dreaded PFIC rules. Whether you're a green card holder on the brink of departure or a US citizen eyeing a life abroad, we're unpacking a treasure trove of insights on the fiscal hurdles that could trip you up. From the sunny stretches of California to the broader federal landscape, our discussion is your trusted companion for a smooth financial transition.
As we steer through the murky waters of the 'exit tax' and dissect the peculiar 'step up in basis,' you'll discover just how the US tax net can ensnare your global movements. With anecdotes from my own odyssey and a keen look at foreign trusts and share options, this episode is brimming with the knowledge you need to safeguard your assets against unforeseen tax traps. And if that's not enough, Adam and Roy tease the upcoming IBSA annual conference where we'll further unravel the mysteries of foreign tax credits and more. Click here for full details of the conference and to book your ticket. Don't miss out on the crucial strategies that could keep your financial ship sailing smoothly on international tides.
This podcast explores a fictitious case study centred around an entrepreneur’s ambition to develop a task management software company. Click here to read the case study in full.