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Renouncing US Citizenship: The Truth About Exit Tax

In this video, Vincenzo Villamena, CPA and founder of Global Expat Advisors, explains the steps involved in renouncing citizenship. Vincenzo covers: Paying a fee and filing a final US tax return before renouncing. Being a covered expatriate may result in an exit tax. Gifting assets can help reduce or eliminate the exit tax. Ensure compliance with tax regulations to qualify as a non-covered expatriate. US source income may require additional tax filings after renunciation. Plan gifting strategies within allowed limits and to a US citizen spouse. Subscribe to our channel for the latest updates:    / @onlinetaxman-gea   Schedule A Consultation: https://globalexpatadvisors.com/sched... More From Global Expat Advisors Website: https://globalexpatadvisors.com Blog: https://www.amazon.com/US-Taxes-Ameri... LinkedIn:   / online-taxman  

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