Although most taxpayers would never consider relinquishing their U.S. citizenship or surrendering their status as U.S. permanent residents, a certain minority of taxpayers in fact do so. As reported by Bloomberg, expatriation from the U.S. has been on the upswing since 2010 and a record 2,367 people relinquished their U.S. citizenship in the fourth quarter of 2016.
FF&F News & Events
Perhaps more often than ever, we’re seeing many people walking away from the once-coveted 9 to 5 job and instead moving into the self-employment arena. As is to be expected with any life-changing decision, making the shift to self-employment comes with an array of tax benefits and pitfalls to consider.