We're helping clients that are coming to a foreign country, where they don't have the knowledge they have from their own country, navigate very complex tax and business laws in order to build the most efficient tax and legacy structure possible. My name is Julie Kozlov. I'm a trust and estate attorney, and I'm a managing partner in Assam Moreno PA. Our practice focuses on helping clients structure their assets correctly so they leave a legacy when they pass away. There are three main pitfalls in not structuring your acquisition or assets correctly. The first is an estate death tax concern. This tax is applied upon the death of somebody. Most clients, especially foreigners, are not familiar with this tax because it may not exist in their country. And most of them will have the misconception that it does not apply to them because they are not US citizens. The second concern and pitfall is from an income tax perspective. Depending on how you structure things here, you're going to have certain levels of income taxation. Some clients make the mistake of structuring in a way where they are taxed two times upon their income, at the corporate level and not the personal level. The third pitfall is factual and depends on the facts of the case and the partnership or corporate or limited liability company structure. We have to take all of that into consideration to make sure we address those issues at the inception and the client does everything right the first time.
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Video instructions and help with filling out and completing Form 8865 Overseas
