US Estate Tax Guide for Non-Residents
The United States imposes an estate or succession tax on the transfer of specific US situs assets owned by a person on death, even if the person was neither a citizen nor a resident of the United States at death (aka a non-domiciliary). US situs assets owned at the decedent’s death that are subject to […]
US tax changes for 2023 season – Individual, Estate & Gift taxes
The annual tax filing season commences today and we are delighted to summarize some important changes to 2023 tax year when compared to prior years. The most notable changes are: 1. The first page of Form 1040 will look slightly different than prior year. The filing status field has now moved below the taxpayer’s information […]
2024 US deadlines to consider for 2023 US tax year
The US tax year runs from January 1st to December 31st each year. For anyone subject to US tax systems, there are some of the deadlines and key dates for US tax filing that they need to be aware of throughout each tax period, wherever they are in the world. Below are some of the […]
Who’s afraid of the US tax system?
The complexities of US taxation, particularly Unrelated Business Taxable Income (UBTI), can deter European private equity firms looking to unlock the lucrative US pension funds market, but learning how to navigate them really is worth the effort. European PE is driven by a fiercely competitive marketplace and the US, home to about half of the […]
Top tips for 2023 US year-end tax planning
In Switzerland, Samichlaus, aka St. Nick, came to children this past night and brought them clementines and nuts. While we cannot transfer food through the internet, we have something almost as good – 2023 US year- end tax tips! This is something we have covered in the past, but like all good things, we have […]
UK Chancellor’s Autumn Statement Highlights
According to the Institute for Fiscal Studies, UK tax levels are at their highest since records began 70 years ago. After the usual speculation in the press over the last week, we learned today from Chancellor Jeremy Hunt in his Autumn Statement mini-budget whether there would be any tax cuts. There were no proposed changes […]
Make Your Retirement Savings Last as Long as You Do
With rising life expectancies, it is possible that individuals will outlive their traditional retirement savings. A qualified longevity annuity contract (QLAC) provides a potential solution. What is a QLAC? A QLAC is a fixed deferred annuity, meaning it ensures a continuous stream of income from an agreed-upon start date. This guaranteed income stream is achieved […]