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to U.S. Financial Services and Understand the Complexities Magnified by Cross-Border Financial Planning and Taxation
Although the basic concepts of wealth management are universal, the complexities are magnified when you add cross-border financial planning and taxation issues to the mix. Between our decades of experience and our network of international experts in various financial, tax and legal disciplines, AWI serves as your portal to competent financial services in the eastern hemisphere.
Cross-Border Tax Saving Strategies
From ordinary income to investment income and estate or inheritance taxes, finding the right strategy to avoid unnecessary tax and compliance expenses requires a thorough evaluation of your objectives as it relates to your financial circumstances.
Multiple tax jurisdictions, international tax compliance rules and regulations, offshore investment schemes, limitations on tax advantaged retirement account (i.e. 401k, IRA, ROTH), punitive taxes and penalties, estate and inheritance tax laws and tax treaties are some of the complexities U.S. taxpayers living abroad should be on the lookout for.
Cross-Border Retirement Plan Services
In spite of tax treaties and incentives, navigating through a maze of retirement and pension regulations may prove to be a very expensive and daunting task.
While some countries provide tax incentives, company matching and mandatory savings for retirement and pension plans, others don’t. Participating in non-U.S. retirement plans may defeat its purpose due to punitive taxes, interest, penalties and other factors that may cause double taxation and unnecessary expenses without proper guidance.
Tax treaties, regulations, investment strategies and other cross-border variables, makes cross-border retirement planning a huge challenge for U.S. taxpayers living abroad who participate in 401k, 403b IRA and foreign retirement and pension schemes.
Cross-Border Investment Strategies
Citizens and green card holders of the United States are taxed on their worldwide income. Costly tax regulations, penalties and interest brought by the “Foreign Account Tax Compliance Act (FATCA)” of 2010 coupled with “Passive Foreign Income Company (PFIC)” regulations has made offshore investing a losing proposition for most U.S. taxpayers living abroad and residents alike. With a wide range of local and international investment options available through the U.S. markets, it has become unnecessary for U.S. taxpayers living abroad to look further anyway. Consult with one of our professional wealth management experts to help optimize your investment needs today.
Cross-Border Estate Planning
Estate planning is extremely complicated in the United States, riddled with laws on federal and state levels, types of ownership, gifting rules with a plethora of estate planning instruments and estate strategies. With proper guidance, early detection of potential problems can save your estate 30% to 80% in taxes and other wealth transfer expenses.
In spite of estate tax treaties with only a few countries, navigating through the intricacies of U.S. estate tax rules and regulations can be very tricky for non resident U.S.-related persons, especially when they own substantial assets in different territories, marry into foreign nationalities and grow an internationally diverse family.