Tag Archives: Tax Law

Mapping The Global Migration Of Millionaires

20 Apr
Migration Of Millionaires

Submitted to Zero Hedge by Visual Capitalist – High net worth individuals (HNWIs) – persons with wealth over US$1 million – may decide to pick up and move for a number of reasons. In some cases they are attracted by jurisdictions with more favorable tax laws, or less pollution and crime. Sometimes, they’re simply looking […]

From the Tax Law Offices of David W. Klasing – Danger – Foreign Retirement Plans Can Create Annually Taxable U.S. and State Income Even in the Absence of a Current Pay Out or Distribution

07 Mar
Foreign Retirement Plans and Tax law

Tax Law Offices of David W. Klasing IRVINE, Calif., March 7, 2019 /PRNewswire/ — If you are either (1) a U.S. citizen retiring abroad, or (2) a U.S. tax resident that has a foreign pension plan, you will likely be required to report the income accruing in your offshore retirement plan on an annual basis and your current or […]