RT End of @citizenshiptax for #Americansabroad? On August 16/18 @AMCHAMCANADA presents a Toronto session by @SolomonYue speaking on tax reform for U.S. #expats in Canada and around the world. Background and commentary from @Elena_CPA and @Expatriationlaw https://t.co/pk6PVMNAKc pic.twitter.com/dushCQWcgC
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) July 26, 2018
Many of you reading this post will NOT be in the Toronto area! This are important events! Please actively share this information with all people who you believe would be interested or affected by this!
A LIGHT AT THE END OF THE TUNNEL OR ANOTHER ONCOMING TRAIN: THE POSSIBLE END OF U.S. CITIZENSHIP-BASED TAXATION
If you are an American citizen residing and doing business in Canada, you bear the pain of the heavy tax burden endured by all U.S. citizens due to the fact that the U.S. is the only major country that imposes worldwide taxation on its citizens no matter whether they live in the U.S. or in another country. In addition, the U.S. imposes significant penalty laden reporting requirements on U.S. citizens living in Canada and abroad.
Change is a possibility.
Did you know that there is a possibility that the U.S. Congress may introduce, debate and vote upon a bill that may ease this worldwide taxation burden on U.S. citizens living and working in Canada? This bill would enact ‘Territorial Taxation for Individuals (TTFI)’. It is a tax cut for 9 million overseas Americans by ending double taxation.
Solomon Yue, CEO of Republicans Overseas has been involved with drafting the TTFI bill. Mr. Yue, who is currently working with AmChams throughout the world, will present publicly shareable information about the TTFI bill, and discuss its progress as it journeys through the legislative process. He will be encouraging AmCham Canada to lend its support in the global effort to encourage Congress to move forward with this legislation.
Elena Hanson, Managing Director of Hanson Crossborder Tax Inc. and a member of Democrats Abroad. Elena will be speaking on the logistics and burden of U.S. tax filing obligations as an American in Canada.
John Richardson, a Toronto Lawyer of Citizenship Solutions, will also be joining Elena and Solomon to speak on the lost opportunity cost of being a dual U.S.-Canadian tax filer: Canadian residents who are subject to the U.S. tax system do not have the same financial planning and other opportunities that non-U.S. citizens have..
Date: Thursday, August 16, 2018
Time: 6:15pm to 9:00pm
Place: St. Michael’s College, Alumni Hall, Room 400; 121 St. Joseph Street, Toronto (paid parking near building; nearest subway station is Museum) MAP
Cost: $20 +tax (AmCham members); $35 +tax (non-members).
Pre-registration is required. Registrations due August 13.
Info: AmCham Toronto TTFI Event
Thank you @ExpatriationLaw for arranging this @AMCHAMCANADA #TTFI bipartisan event. I am looking forward to sharing the latest TTFI legislative developments. This fall is 9 million overseas Americans' turn to have their tax cut by ending double taxation & replacing #CBT w/ TTFI. https://t.co/NqfoiXyKP3
— Solomon Yue (@SolomonYue) July 26, 2018