- How much “exit tax” will I have to pay?
Generally, if your assets are under $2 million, you will not owe any tax. However, you will still have paperwork to complete.
If your assets are over $2 million, and you do nothing to reduce your tax liability, you will owe tax. However, there may be various ways to reduce your tax hit.
- I want to give up my citizenship or green card, but I don’t know where to start. Where can I learn more?
Check out Phil’s blog post on expatriation: Leaving the USA and leaving U.S. tax law behind you.