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Archive for Aubrey Hone

Foreign Investment Into The U.S. Part II: Who Is A U.S. Person?

The U.S. income tax and estate tax both function under a system with only two possibilities, a taxpayer is either a U.S. person/domiciliary or not a U.S. person, referred to as a non-resident alien (“NRA”). There is no middle ground, it is an all or nothing system. Since U.S. tax law is based on this distinction, the first step in any analysis is determining the correct category.

The U.S. laws do not define who is an NRA, rather, they define who is a U.S. person, or for estate taxes a U.S. domiciliary. Therefore, NRAs will be anyone who does not meet the definition of a U.S. person or domiciliary. Due to these rules, before we can decide how a foreigner will be taxed in the U.S., we must first make sure they are in fact a foreigner under the laws.

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Foreign Investment Into The U.S. Part I: Overview Of Taxes

With the strength and stability of the U.S. economy, strong rule of law, and new favorable tax laws, foreign investment into the U.S. is continuing to grow. Although the tax law changes have been favorable for inbound investment, U.S. tax law remains aggressive and sometimes harsh. The good news is that with very detailed laws the outcomes are predictable making tax planning possible.

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5 Non-Tax Reasons For Estate Planning

As the Unified Gift and Estate exemption is now $5.49 million per person, is there still a need for a living trust or estate plan?  There are many reasons for a comprehensive estate plan other than to save estate taxes.  Below are just five of these reasons how a good estate plan can be beneficial and help achieve goals.

1) Avoid probate

In California probate is a process where a will must be proven to the court, and it is notoriously costly and lengthy.  In addition to the administrative hassle, probate can also have fees up to 4% of the estate.  However, with a trust plan in place probate, with its fees and headaches, can be avoided. Read more