You are a US citizen, and you live in Switzerland. You just learned that you have been named beneficiary of a US trust. Congratulations! You are happy to be entitled to trust distributions, but you are also worried about the consequences. What are the US and Swiss implications? You wonder…. Let’s start from the beginning. What is a trust? A trust is a legal vehicle by which a party, the
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Do you Have a Foreign Pension? It May be Invested in PFICs
In our blog post IRS Tax Relief for U.S. Taxpayers with Certain Foreign Pensions I wrote: Before anyone goes rushing into investing in a Pillar 3 or other individual foreign pensions, though, one final comment about PFICs. Swiss ETFs or mutual funds, and other foreign investment funds that are the typical investment vehicles used in foreign individual retirement accounts, are generally classified as PFICs for US tax purposes. PFICs are
Why Does ESG Investing Matter? One Advisor’s Journey
This year, ESG (Environmental, Social and Governance) strategies have outperformed traditional portfolios. This is partially attributed to the outperformance of technology and the underperformance of the commodities sector during the ongoing COVID-19 crisis. Within different business sectors, companies have emerged as ESG leaders for having made strides to better understand the sustainability of their business models. These companies were likely better prepared to cope with the pandemic by incorporating ESG
Differentiating From The Crowd By Pursuing A Specialized Clientele Of Cross-Border (Swiss) Expatriates
Marina Hernandez, as a special guest of Financial Advisor Success Podcast! What You’ll Learn In This Podcast Episode How Maria Developed Her Niche Working With Swiss-American Expatriates And What Makes Cross-Border Planning Unique [05:20] Why Maria Narrowed Her Focus Down To Two Specific Countries [15:29] How Marina’s Firm Partnership Is Structured, Her Firm’s Business Model, And The Fee They Charge [24:56] The Public Benefit Education Service That Marina’s Firm Provides
6 Tipps für eine erfolgreiche Anstellung von US-Bürgern
Die USA gehört zu den wenigen Ländern, die ihren Bürgern auch nach einem Umzug ins Ausland Steuer- und Finanzvorschriften auferlegen. Diese sind somit weiterhin in den USA steuerpflichtig und müssen der US-Regierung jedes Jahr ihr weltweites Einkommen und ihre ausländischen finanziellen Vermögenswerte melden. Die Einhaltung der Steuer- und Meldepflichten bereitet oft Kopfzerbrechen und zählt zur grössten Herausforderung von US-Expats. Read Full Article
Op-ed: Does voting from overseas impact your tax status? Here’s what U.S. expats need to know before they vote
KEY POINTS Most U.S. citizens living abroad are eligible to vote by absentee ballot. Voting for federal offices from overseas does not impact federal or state income taxes. Voting for state candidates for office from overseas may result in higher state income taxes when the U.S. expat is taxed as a state resident under its domicile rules. Read Full Article
