Japanese Inheritance Tax vs. US Estate Tax (2014 Update)
BRIEF OVERVIEW OFJAPANESE INHERITANCE AND GIFT TAXESvs.AMERICAN ESTATE AND GIFT TAXES (2014 Update) I. Estate Taxes A. America 1. If the Decedent is a Citizen or Permanent Resident Tax on Worldwide property (credit for taxes paid to foreign countries) Exemption of $5,340,000 in 2014 (indexed for inflation). For married couples, the exemption amount is $10,680,000 […]
Income Tax Consequences of Expatriation
In this down economy, many companies are laying off employees. While this could be deeply troubling for those who get laid off, imagine if you were also subject to a huge income tax penalty as a result. This could be happening to you now if you are a permanent resident alien who decides to leave […]
Is there a Federal Inheritance Tax?
It’s true. Most people think that the United States only has a federal estate tax (and yes, I know that technically there is no federal estate tax for 2010). However, the United States also has an inheritance tax that taxes certain inheritances that are received by United States citizens and permanent resident aliens if the […]