Thinking About Giving Up Your U.S. Citizenship to Save On Taxes? Consider These Practicalities First.

Thinking About Giving Up Your U.S. Citizenship to Save On Taxes? Consider These Practicalities First.

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This is the second article of a two-part series on expatriating to save taxes.
I am often asked by clients who live in high-tax states such as New York or California whether they should establish residency in a no income tax state like Florida to reduce their taxes. My first question is, “Do you want to live in Florida?” The same question applies to whether it is a good idea to give up U.S.…

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