Monthly Archives: December 2014

Rachel Millios: “Why I Would Consider Renouncing US Citizenship For Tax Reasons (It’s Not What You Think)”

The above tweet references an interesting article by Rachel Millios. Rachel is an Enrolled Agent with competence in managing the tax requirements of Americans abroad. She has had an interesting career – including a stint in Iraq with the U.S. military. What I find particularly interesting about her post is that she is NOT a U.S. citizen abroad. She is a “Homelander”.

Her insightful post (I have highlighted parts of particular interest) includes:

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Excellent @JackieBugnion and Roland Crim article on Boris Johnson @MayorOfLondon and plight of #Americansabroad

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Charles Cullen, Bernard Schneider, David Kuenzi, Jim Yager, Jackie Bugnion (left to right)

Charles Cullen, Bernard Schneider, David Kuenzi, Jim Yager, Jackie Bugnion (left to right)

 

Just received this article in written by Jackie Bugnion and Roland Crim pdf format. Jackie was in Toronto on May 2, 2014 for the ACA Conference on the Taxation of Americans Abroad. (The conference was a great success leading to many things including David Kuenzi’s New York Time’s Op-Ed explaining that the application of the FATCA rules to Americans abroad is absurd. You will find a report on the Conference here.)

The article is an exceptionally clear statement of the problems facing Americans who choose to live outside the United States. The problem is that by moving form the United States and by being subject to the U.S. tax system that are:

1. At an extreme disadvantage when it comes to retirement planning; and

2. When it comes to U.S. taxation abroad – getting the worst of both worlds.

Here is the article:

Bugnion-Crim