Ep 22: What Is English For "Covered Expatriate"?

24 de jul. de 2024 · 7m 43s
Ep 22: What Is English For "Covered Expatriate"?
Descripción

If you are a U.S. citizen or a long-time resident (8 of the last 15 years), and you decide to leave the U.S. permanently, you could become a covered expatriate....

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If you are a U.S. citizen or a long-time resident (8 of the last 15 years), and you decide to leave the U.S. permanently, you could become a covered expatriate. You don't want to be a covered expatriate since there is a possibility you may have to pay an exit tax.

In this shortie, we tell you who a covered expatriate is. Three main tests determine whether you are a covered expatriate and the potential implications. 




  •   The income test,  the net worth test,  and the certification test.

  • Being a covered expatriate can have financial implications, such as potential liability for an exit tax and complications with gifts and estate planning.


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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

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Autor The International Money Cafe
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