If a foreign estate owns works of art located within the US, it poses an interesting question. The Internal Revenue Code states the value of the US gross estate for a non-US citizen includes property, which at the time of his death is situated in the US.[1] Let’s say Sam, a non-US citizen, owns works…
DetailsRising fossil-fuel prices and environmental concerns have led to a growing demand for renewable energy sources such as solar power. Compared to conventional energy and other renewable energy sources, solar power has the advantage of being generated locally, which both increases efficiency and greatly reduces the costs and environmental impacts of transmission . As a…
DetailsThis is the fourth in a series of articles on the US taxation of shipping income, and explains treaty exemptions from the tax, what they are, how companies qualify and what must be done to comply with the filing requirements associated with the treaty exemption. With very few exceptions (Greece is one of the exceptions),…
DetailsSo what property has to be included on a US estate tax return? The Internal Revenue Code states the value of the estate of a foreign individual is the part of his estate situated in the US at the time of his death.[1] In 2010, foreign governments and individuals invested $1,245.7 billion, excluding derivatives, in US…
Details阅读此文章 The U.S. has many bizarre immigration policies toward high-skilled individuals. Perhaps the most absurd one is the cap on the number of visas allowed per country, regardless of that country’s population size. How many visas are allocated to people of extraordinary ability from China, a country of over 1.5 billion people? Exactly 2,803. The same…
DetailsThis is the third in a series of articles on the US taxation of shipping income, and explains treaty exemptions from the tax, what they are, how companies qualify and what must be done to comply with the filing requirements associated with the treaty exemption. As the first two articles in this series explained, the…
DetailsHave you discovered the estate of a non-US citizen that contains US property? What appears to be US property may not always be considered such by the Internal Revenue Service. The Internal Revenue Code provides specific categories of property situated within the US and property situated outside the US. If you discover the foreign citizen’s estate…
DetailsThose U.S. citizens, birthright or otherwise, who wish to set their U.S. citizenship aside for whatever reason have two options: renunciation or relinquishment. Renunciation is exactly what the word implies. It is a formal sworn declaration renouncing U.S.citizenship. The procedures for renunciation are well known and straightforward. Consular Officers are generally familiar with the renunciation…
DetailsA letter (yes, an old-fashioned, sent-by-post, paper letter) arrived in my office today from an overseas lawyer seeking advice for his client. The client was born in the United States. When he was a month old, he returned with his parents to their home country, where he has now lived for more than 40 years.…
DetailsIn our firm, the first question of many a client is how much our representation is going to cost them. For general business related work, we charge on an hourly basis unless we can develop a more suitable arrangement with the client. Often this is difficult, as it is hard to predict how much time and…
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