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Old 05.03.2017, 00:19
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Re: The New Trump Tax Cuts

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Maybe some "good" news for us expats?

"The United States will join most of the rest of the world and tax income on a territorial basis, meaning we will tax what happens here in the United States, not overseas."

This maybe the last year I have to spend 1000 bucks to have my special overseas taxes prepared, just to let the IRS know that I still haven't made over the exempt 98,000.00 bucks...

http://thehill.com/blogs/pundits-blo...p-gop-tax-plan
I wouldn't get too excited yet. All I heard so far were talks of a potential territorial system for corporations. Also, lower corporate tax rate across the board, and one-time 10% tax on cash repatriation by corporations.

As a taxpayer, I would love if the US stopped the idiocy of citizenship-based taxation for individuals, but I am not sure it's happening any time soon unfortunately
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