Supports Cross Border Professionals and Families Many foreigners leave Japan after living there for some years. They discovered that Japan’s gifting and inheritance tax regime is substantially more punitive than those in their home countries. In particular, this...
Supports Cross Border Professionals and Families After the death of a participant, a retirement plan or IRA will be distributed to the participant’s beneficiary or beneficiaries. The beneficiary(es) take distributions as a beneficiary of an “inherited plan/IRA.” The...
Supports Cross Border Professionals and Families If a U.S. citizen or Green Card holder works in Japan, he must obtain Certificates of Coverage. Otherwise, both countries tax you for public welfare benefits. Namely, the US levies social security and Medicare taxes....
Supports Cross Border Professionals and Families There are three tax benefits for foreigners moving to Japan. Since the author of this article is not a licensed Japanese tax accountant, this article does not contain any tax advice. The author is a U.S. CPA...
Supports Cross Border Professionals and Families I discuss the general action plans when you face a potentially covered expatriate designation. There are two main tests when the IRS determines if you are a covered expatriate. They are (1) a Two-million dollar Net...
