New weekly mailing list – PFICs Only

OK. I know that you sit around at night, gazing out of your window at the moon and yearning for more information about PFICs. Rejoice! Those lonely, unfulfilled nights are over. PFICs Only We are launching a new highly-focused email newsletter, along the lines of our successful Expatriation Only list. PFICs Only. This is a […]

Where does an accumulation distribution go?

This is for those of you who are wrestling with accumulations distributions and how to transport numbers from Form 3520 to Form 1040.  If you want a full write-up, look at my earlier blog post, Calculate tax on distributions from foreign trusts using the default method Accumulation distribution number – where does it go? I had […]

Why become a U.S. taxpayer after you renounce?

This week’s question Frequent correspondent S sent me this one: On your next note, Phil, can you expand on the pros and cons of choosing to be a US taxpayer after expatriation if spouse continues to be US citizen and has all the income streams? The situation The situation, in a nutshell: you and your […]

Cash into your foreign corporation means form 926

This week’s episode is from the Brains Across Borders series: Americans doing business using foreign corporations. It’s you, a MacBook Pro, and a foreign corporation. TL;DR Remember to file Form 926 when you form a foreign corporation and make a capital contribution. Even cash. Creating a foreign corporation There are plenty of tax reasons to […]

Schedule D from a programmer’s point of view

Schedule D as an algorithm.  An interesting perspective. Check out the carefully crafted flow chart that describes the thinking you need to do in order to compute capital gains tax. It is shocking to think that this logic comes from the District of Columbia rather than Colorado.  Greetings from Washington DC. I am here so […]

Fight Club and Outbound Trust Migrations

Webinar on April 24, 2015 I am doing a webinar on April 24, 2015 for noncovered expatriates and how to handle the tax side of things when you give up your U.S. citizenship. Take a look at the agenda and sign up here. Greetings from Washington DC Sorry. I jumped on a plane and didn’t […]

RRSPs never reported on FBARs

I swore a mighty oath on a skyscraper of Bibles to never write about RRSPs again, so pretend that this is a post about FBARs and not RRSPs at all.  That is actually semi-accurate because the logic applied here need not only apply to RRSPs. A gentleman posted a comment on The Last RRSP Post […]