April 14, 2015 - Phil Hodgen

Agenda for Webinar for Noncovered Expatriates

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Webinar for Noncovered Expatriates

This week I am sharing the outline I am working on for the webinar I will be doing on April 24, 2015.  It is specifically for noncovered expatriates, and will deal with the most important topics that apply to regular people who give up their U.S. citizenship or green cards.

If you want to attend, you can sign up here, or email us if you have questions.

Even if you do not want to attend, I hope this outline will give you a mini checklist for things to take care of when you are expatriating. Again, this is not exhaustive. Everyone is different, and the things in your life will not be the same as someone else’s life.

Program Agenda

This is the tentative program agenda. I am preparing the materials and the presentation now.

Part 1. Introduction/Overview

  • Introduction

Part 2. The Certification Test

A. Overview – Certification Test

  • The only test that matters to you (net worth and net tax liability are not a problem by definition)

B. How you become a covered expatriate

  • The law, Form 8854 – what is required?
  • The Code and the question on Form 8854.
  • The hard questions – small errors, big errors, etc. – what are the risks?

C. How to prevent covered expatriate status

  • Which years matter?
  • What to look for in those years?
  • What to leave alone
  • What to fix
  • How to fix it
  • When to fix it
  • No Social Security Number?

Part 4. Dual Status Tax Returns

A. Basic requirement to file

  • Filing requirement for year of termination of resident/citizen status.
  • What about low income people otherwise exempt from filing?
  • Should you file a dual status tax return or a full-year resident status return?

B. What happens if you don’t file, or you’re late

C. Technical details

  • How to allocate income to before/after expatriation date
  • Paperwork for the citizen/resident portion of the year (Form 1040 as a statement)
  • How to flow numbers from your Form 1040 Statement to the Form 1040NR
  • Paperwork for the portion of the year after expatriation
  • Tax computation for the noncitizen/nonresident portion of the year
  • Treaties for the nonresident/noncitizen portion of the year
  • Other stuff – personal exemptions, standard deductions, dependents, etc.

Part 5. Retirement Plans After Expatriation

A. How are the distributions taxed

  • Default rules
  • Treaty rules

B. Using treaties to reduce U.S. tax

  • How it works
  • The paperwork

C. Withholding at source

  • How it works
  • Form W-8BEN
  • Form 1040NR

Part 6. Life After Expatriation

A. Social Security, Medicare

  • How it is taxed
  • Paperwork
  • Treaties
  • Medical treatment paid for by Uncle Sam

B. U.S. real estate

  • Income taxation of rent
  • Estate taxation
  • Capital gains tax on sale

C. Estate planning for U.S. assets

  • Real estate
  • Stock market investments

D. Travel to the U.S.

Help From Us If You Attend the Webinar

I hope you attend the webcast. If you do attend and if you need help with specific pieces of the job, we will be happy to help you with an offset for the cost of the webinar.

Email me if you have any questions.

Best regards,


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