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PFIC rules
Social media blurb: Attention U.S. citizens: Gifts to your Canadian spouse may come back to haunt you in the form of a nasty tax bite. PFIC rules Cross-Border Spouses: Beware of U.S. Gift-Tax Surprises When a U.S. citizen or U.S. resident alien is married to a Canadian spouse who is not a U.S. citizen, then property transfers between the spouses could be taxable in the United States or subject to U.S. gift-tax rules. Most Canadians are not familiar with a gift tax or an estate tax because Canada doesn’t have such taxes. In the United States, however, gift and estate taxes exist alongside regular income tax, and can run as high as 40% of the value of a U.S. taxpayer’s wealth over a certain amount. Inter-spousal transfers can take place via a gift, a sale or incident to a divorce. For U.S. tax purposes, a gift is treated as a transfer of property without receiving full consideration in return. For married couples where both spouses are U.S. citizens, transfers are not sub...
estate planning workshop whittier
estate planning whittier estate planning workshop whittier whittier estate planning estate planning services whittier whittier living trust estate and trust lawyers whittier ca estate planning Work with me to create a comprehensive estate plan that takes care of your interests in the case of an accident, injury, or other situation where you are no longer able to care for yourself, and that directs the disposition of your assets following your death. If you do not have an estate plan the time for action is now. If your current plan was created before 2013, you may be in danger of having an outdated plan.
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