PREP Podcaster - ”Success Favours The PREPared Mind”
News:News Commentary
January 20, 2021 - Participants Include:
John Richardson - @Expatriationlaw
Dr. Karen Alpert - @FixTheTaxTreaty
Dr. Laura Snyder - @TAPInternation
Suzanne Herman - @SuzanneHerman1
Keith Redmond - @Keith__Redmond
The core mission of SEAT is to "Stop Extraterritorial American Taxation".
Extraterritorial American taxation is system that imposes worldwide taxation, on the non-US income of people who live in other countries. That said, there are different groups impacted.
These groups include:
American expatriates - short term Americans abroad who are returning to the USA and engage in financial planning in the US system.
American emigrants - people who moved permanently from the United States and engage in financial planning in tax system of the country of residence (example Canada).
Accidental Americans - people who moved from the United States as small children and not think of themselves as US citizens. Their financial planning revolves ONLY around their country of residence.
American Retirees abroad - people who have moved abroad to retire and live off U.S. source income (example Social Security). They are likely to file ONLY U.S. tax returns.
Additional victims of Extraterritorial Taxation include:
The sovereign countries where U.S. citizens reside; and
Homeland Americans who are effectively prevented from leaving the United States and living a normal life outside the United States.
Why it's important to distinguish the various groups impacted
US citizenship-based taxation AKA (the US imposition of US worldwide taxation on the tax residents of other countries) is a problem bigger than any one individual or one specific group. Different provisions of the Internal Revenue Code affect different groups differently.
Those varying and disparate effects have made it hard to unify the various groups of Americans abroad in the fight to end US citizenship-based taxation.
This podcast discusses the reason for this and provides examples.
Dr. Karen Alpert: Calling Australians To Tell Australia Gov How The US Tax Treaty Is Hurting you!
The Significance Of The Pandora Papers: Is the wealth of the public the business of the public?
Professor Steven Dean Part 1: The Sociology Of International Tax - A History Of Privilege
Updating Citizenship-Based Taxation - Regulation, Legislation or Both?
"All Roads Lead To Renunciation" - An Accidental American discusses his renunciation journey
Defining Residence based taxation: What it is and what it is not
Part 1: Renouncing US Citizenship? Valuation of joint interests (including the family home) in the context of the 877A Exit Tax Rules
Taxability of Canada's CERB payment and the US CARES Act payment for Dual Canada/US citizens residing in Canada
Moving To Another Country? Consider: Pensions, Mobility and Pension Mobility
Trowbridge Partner Wayne Bewick: Canada's Principal Residence Capital Gains Exemption - Will It Continue?
Mobility Consultant David Lesperance -The Warren Wealth Tax And Quick Citizenship By Investment Options
Dr. Laura Snyder Explains The US Extraterritorial Tax Regime And How It Applies To Americans Abroad: Let The Senate Finance Committee Know How It Affects You!
Coach Coutts: If you want to stay healthy, don't sit too long
The Senate Finance Committee Holds Hearings Affecting Mini-MultiNationals AKA #AmericansAbroad
Residency As An Investment Asset: Why Paying To Sever Tax Residency Can Be An Investment - Canada Edition
The Impact Of The Proposed Warren Wealth Tax (and How It Ineracts With FATCA) On Americans Abroad
Mobility Consultant David Lesperance - Citizenship through lineage and through marriage
US Treasury publishes list suggesting record numbers relinquishing US citizenship in 2020 - but what can be inferred from the list?
The Tax Treaty Saving Clause - 2021 Edition: How the USA exports @CitizenshipTax throughout the world
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