Expatriation Exit Tax Planning Individuals

Expatriation Exit Tax Planning

Helping Expats End Their Tax Liability to the United States

If you’re an American living abroad, you probably left the U.S. for important reasons. Moving for a job, to be closer to family, or to just seek a change of scenery are just a few reasons why Americans choose to take up residence somewhere beyond the states. Despite living abroad, however, all Americans worldwide retain tax liabilities – even if they don’t intend to come back to the U.S. When you live in another country, you must still report your income to the IRS and file a tax return.

Obviously, this can be problematic for expats who truly wish to renounce their U.S. citizenship and be free of their U. S. tax liabilities. An expatriation exit tax planning attorney from Castro & Co. can help you work toward eliminating your obligation to pay U.S. taxes. Simply renouncing your U.S. citizenship may not free you of your tax liability but working with an attorney like ours can help you rest assured that your intended split from the United States is legally secure.

Contact the expatriation exit tax planning attorneys from Castro & Co. to arrange a consultation and learn more about your options for moving forward toward achieving your goals.

Expatriation Tax Planning Strategies That Can Work for You

Even if you don’t think your move away from the U.S. will be permanent, it may be an indefinite length of time before you return. It’s OK not to know when you’ll return to the U.S., but it’s not OK – at least from the government’s point of view – to shirk your responsibilities to report your foreign income and file U.S. tax returns.

Our expatriation exit tax planning attorneys can help you understand your legal options as we have for many clients in situations like yours. We understand the legal options that can apply to you that may provide the solutions you’re looking for whether you intend your move to be permanent or not.

Critical components of your expat tax plan can include:

  • Voluntary Compliance
  • Foreign Earned Income Exclusion
  • Foreign Grantor Trusts

If you need a lawyer who can help you understand your rights as an expat seeking to free yourself from legal and tax obligations to the U.S., contact Castro & Co. online for help.

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  • The Wall Street Journal
  • International Bar Association
  • Bloomberg Business
  • SMSF Adviser
  • The Sydney Morning Herald
  • Tax Analysts

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