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Discussion about current events, culture, independent candidates, business, education, travel, death and taxes, global mobility, citizenship and residence by investment options, Americans abroad, FATCA, CRS, U.S. citizenship renunciation, Green Card abandonment, citizenship taxation, PFIC, GILTI, foreign trusts, I-407 and more ...
Episodes
Friday Feb 11, 2022
Friday Feb 11, 2022
February 11, 2022 - Participants Include:
Amy Purcell - @Amy_From_Sydney
John Richardson - @Expatriationlaw
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A fascinating discussion with Amy - born to a US citizen mother in Australia - who has lived in Sydney Australia her whole life. She has visited the United States but has never had any economic connection to the United States. In other words, she is an "Accidental American".
In her first podcast Amy told her story of becoming acquainted with the "Twin Horrors Of FATCA and Taxation Based Citizenship". In this, her second podcast, we continue the discussion with an emphasis on the importance of Americans abroad:
- becoming vocal about the injustices of FATCA and US extraterritorial taxation
- using the right to vote strategically and as an opportunity
- contributing to the struggle by doing what they can!
After all, the United States is actually imposing direct taxation on income earned in Australia by an Australian resident. It's no wonder that Amy describes this as hard to believe and "spacey".
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Amy Purcell is a an example of where perseverance and motivation can lead!
Sunday Feb 06, 2022
Sunday Feb 06, 2022
February 6, 2022 - Participants Include:
Amy Purcell - @Amy_From_Sydney
John Richardson - @Expatriationlaw
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A fascinating discussion with Amy - born to a US citizen mother in Australia - who has lived in Sydney Australia her whole life. She has visited the United States but has never had any economic connection to the United States. In other words, she is an "Accidental American".
In March of 2021 she received a FATCA inquiry from her Australian bank. In this podcast she describes her "OMG Moment". She generously describes her emotions, her response (getting a Social Security Number) and filing taxes through the streamlined process.
Amy then describes her advocacy which included contact with a US based politician. Her description which was posted on Facebook included:
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Friday Feb 04, 2022
Friday Feb 04, 2022
February 4, 2022 - Participants Include:
LJ Eiben - Raymond James - @L_Eiben
John Richardson - @Expatriationlaw
Mr. LJ Eiben first participated as a guest in November of 2021 when we discussed US Social Security for Americans abroad. On January 26, 2002 he returned for a discussion about Canada Pension Plan and Old Age Security.
Today he returns to tell the story of Raymond James and it arose in response to the very real problems experienced by real individuals with ties to both the United States and Canada. LJ describes how Raymond James established itself as a cross broker/investment advisor/financial planner for individuals which include: US citizens living in Canada, Canadians moving to the United States and Green Card holders moving back to Canada. Canadian residents with US IRAs can hold their IRA with Raymond James. Canadians moving to the United States can continue to hold their RRSPs with Raymond James.
The bottom line is that Raymond James allows to those who move between Canada and the United States to keep their investments in one place.
The network of Raymond James advisors is large and growing and advisors are found throughout Canada.
For a description of Raymond James services and some case studies click here.
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Mr. LJ Eiben is a Financial Advisor at Raymond James.
The information in this podcast was obtained from sources RJA and believed to be reliable; however, we cannot represent that it is accurate or complete. It is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities. The views expressed are not necessarily those of Raymond James (USA) Ltd. Raymond James (USA) Ltd. (RJLU) advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered.
Raymond James (USA) Ltd. is a member of FINRA / SIPC
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Wednesday Feb 02, 2022
Wednesday Feb 02, 2022
February 2, 2022 - Participants Include SEAT Members:
Karen Alpert - @FixTheTaxTreaty
Suzanne Herman - @SuzanneHerman1
Keith Redmond - @Keith__Redmond
John Richardson - @ExpatriationLaw
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This discussion was held to discuss and questions of:
A. What is residence-based taxation; and
B. What is not residence-based taxation
The conversation is divided into the following three modules:
1. What is the difference between definitions of "tax residency" (who is subject to tax) and "worldwide taxation" (what is the scope of income that is taxed?
2. What does SEAT mean by "PureRBT"?
3. There are millions of Americans abroad: Thoughts on how to transition from citizenship-based taxation to PureRBT ...
Thanks to all attendees who participated in the later discussion.
Monday Jan 31, 2022
Monday Jan 31, 2022
January 29, 2022 - Participants Include:
Athena Mason - OurVoices.party
Marc Mixon - OurVoices.party
John Richardson - @Independents
Joe Howard - @JustJoe12345678
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This Joe Is No Ordinary Joe!
Democracy Is NOT A Spectator Sport!!
On December 23, 2021 I was joined by Joe Howard to discuss how Americans abroad can become part of "democratic renewal in America". This is a continuation of our discussion. We are joined by Athena Mason and Marc Nixon. Both Athena and Marc are leaders in the movement to create a democracy in America where the interests of all Americans are considered. You are invited to connect with Athena and Marc at OurVoices.party.
The description to the December 23, 2021 podcast included:
There are two groups of Americans whose interests are not considered in the political process.
Group 1 - Americans Abroad: US citizens living outside the USA who are very much aware that their interests are not represented.
Group 2 - Resident Americans: US citizens living inside the USA who (although able to vote) do not have the opportunity to vote for candidates who represent their interests. They are increasingly becoming aware that their interests are not represented.
Unfortunately the US political process is run for and only for the mainstream political parties. Neither party has either awareness or concern for the interests of Americans abroad. To put it simply:
"It's not they don't care. It's that they don't care that they don't care!"
There is no short term solution to the "PartyOcracy" of US politics. In the long run "Democracy In America" will survive only with the creation of new political parties and through the rise of independent candidates. This is the only way to nourish candidates who represent the interests of the voters rather than the interests of the parties.
In today's podcast I had the opportunity to speak with Joe Howard. Joe is an American (with an interesting background) living in Thailand where he teaches English and Physical Education. He is also working on a Masters in Education through the University Of The People.
Joe is doing what no expat or group has done before. He is working with new political parties to ensure that the interests of Americans abroad are represented and that pure residence-based taxation is part of the agenda/platform.
He is currently working with the "United People's Assembly" which is creating an Americans Abroad caucus. With or without changes in US tax policy it is essential that the interests of Americans abroad find a home in the US political process.
Americans abroad are good at complaining and bad about taking specific steps to help their situation. You are invited to ride on Joe's work. All that is required is that you support democratic renewal for Americans abroad!
United People's Assembly (Guilded) is getting organized. The Guilded link is an invite link.
https://www.guilded.gg/r/zzARmrndBl?i=AnbwnlXA
You can (and should) contact Joe at:
american.expat.rbt@gmail.com
Remember, This Joe Is No Ordinary Joe!
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To learn more about the "University of the People" (an amazing initiative)
https://www.uopeople.edu/
Friday Jan 28, 2022
Friday Jan 28, 2022
January 28, 2022 - Participants Include:
John Richardson - @Expatriationlaw
Hamza Assyad - A Green Card Holder Living In The USA - @AssyadHamza
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Renouncing US Citizenship:
On January 14, 2022 my podcast guest was Max. Max was born a dual citizen who moved from the USA - as a young adult to Germany - and renounced his US citizenship. It was a particularly interesting discussion because of the reason Max offered as leading to the renunciation decision. After a great amount of research, reflection, deliberation Max determined that his US citizenship made it impossible to engage in normal financial and retirement planning. You can listen to the "Max Podcast" here.
Abandoning The Green Card:
Shortly after the "Max Podcast" I was contacted by Hamza who offered to describe why:
1. As a Green Card holder living in the USA he had chosen to NOT naturalize as a US citizen; and
2. Why he was planning to move from the United States before he would be subject to the US 877A Expatriation Tax (becoming a "long term resident" who was a "covered expatriate").
Hamza's decision was informed by the fact that he did NOT plan to live in the United States permanently and therefore could not risk staying too long.
Today's podcast with Hamza was particularly interesting because it also includes a comparison between the US 877A Exit Tax and Canada's Departure tax. (Hamza was a "permanent resident" of Canada before moving to the United States and receiving a Green Card.)
Throughout history the United States has benefitted greatly from immigration to the United States. Hamza is part of a young, dynamic and skilled generation of Green Card holders who believe it is too risky to live permanently in the United States or to live as a US citizen.
Wednesday Jan 26, 2022
Wednesday Jan 26, 2022
January 26, 2022 - Participants Include:
LJ Eiben - Raymond James - @L_Eiben
John Richardson - @Expatriationlaw
Mr. LJ Eiben first participated as a guest in November of 2021 when we discussed US Social Security for Americans abroad. Today he returns for a discussion about Canada Pension Plan and Old Age Security.
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Mr. LJ Eiben is a Financial Advisor at Raymond James.
The information in this podcast was obtained from sources RJA and believed to be reliable; however, we cannot represent that it is accurate or complete. It is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities. The views expressed are not necessarily those of Raymond James (USA) Ltd. Raymond James (USA) Ltd. (RJLU) advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered.
Raymond James (USA) Ltd. is a member of FINRA / SIPC
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Financial planning has become a necessity for all individuals and families. US citizens living outside the United States face particularly difficult hurdles. Much of this is the result of the requirement of filing taxes in both Canada and the United States. What one tax system gives, the other taxes. As a result, it is essential that US citizens receive specialized financial, investment, tax (and even life) advice. In general the receipt of US Social Security is NOT dependent on being a US citizen. Hence it is available to all individuals who "paid into the system" without regard to citizenship. It is available to Green Card holders returning home, US citizens living abroad and those who renounced US citizenship.
Raymond James as a "cross border platform" which means that (in general) it can hold US investments in Canada for Canadians.
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Canada Pension Plan And Financial Planning:
When it comes to Canada Pension Plan it's important to NOT leave money on the table. In this podcast Mr. Eiben gives his reasons for why it may make sense to delay receiving Canada Pension Plan to age 70 which will result in significantly higher payments. In addition, those higher payments will result in higher spousal/retirement benefits!
Wednesday Jan 26, 2022
Wednesday Jan 26, 2022
John Richardson - @Expatriationlaw
Jimmy Sexton - @JimmySextonLLM
Continuing our podcast series:
For Good And Evil Podcast 1 - October 25, 2021
For Good And Evil Podcast 2 - November 1, 2021
For Good And Evil Podcast 3 - November 8, 2021
For Good And Evil Podcast 4 - November 15, 2021
For Good And Evil Podcast 5 - November 22, 2021
For Good And Evil Podcast 6 - November 29, 2021
For Good And Evil Podcast 7 - December 7, 2021
For Good And Evil Podcast 8 - January 10, 2022
For Good And Evil Podcast 9 - January 17, 2022
In this episode we continue the teaching of Charles Adams - Lesson 10:
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10. "Tax exemptions are inherently unjust unless they actually apply to everyone. If the constitutional principle of equality before the law is ever applied to taxation, then those in control of tax making must bear the same taxes as those on the outside. This means that in an aristocracy or oligarchy, the few would have to bear the same taxes as the many, and in a democracy, the many should bear the same taxes as the few."
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Sunday Jan 23, 2022
Sunday Jan 23, 2022
John Richardson - @Expatriationlaw
Jimmy Sexton - @JimmySextonLLM
Continuing our podcast series:
For Good And Evil Podcast 1 - October 25, 2021
For Good And Evil Podcast 2 - November 1, 2021
For Good And Evil Podcast 3 - November 8, 2021
For Good And Evil Podcast 4 - November 15, 2021
For Good And Evil Podcast 5 - November 22, 2021
For Good And Evil Podcast 6 - November 29, 2021
For Good And Evil Podcast 7 - December 7, 2021
For Good And Evil Podcast 8 - January 10, 2022
In this episode we continue the teaching of Charles Adams - Lesson 9:
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9. "Consent is required for all lawful taxation, either by long-standing custom or by the common consent of the taxpayer. When a state taxes without bona fide consent, regardless of the equities or the reasonableness of the tax, rebellion and civil disobedience are justified."
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Sunday Jan 23, 2022
Sunday Jan 23, 2022
John Richardson - @Expatriationlaw
Jimmy Sexton - @JimmySextonLLM
Continuing our podcast series:
For Good And Evil Podcast 1 - October 25, 2021
For Good And Evil Podcast 2 - November 1, 2021
For Good And Evil Podcast 3 - November 8, 2021
For Good And Evil Podcast 4 - November 15, 2021
For Good And Evil Podcast 5 - November 22, 2021
For Good And Evil Podcast 6 - November 29, 2021
For Good And Evil Podcast 7 - December 7, 2021
In this episode we continue the teaching of Charles Adams - Lesson 8:
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8. "Taxpayer discontent threatens the peace and prosperity of the social order, more so than misbehaving taxpayers do; consequently the criminal arm of the tax system should be directed against oppressive tax agents rather than angry taxpayers."
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