| Quote: | |  | |
| 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
