Recently, I had the joyful experience of reading all 1,097 pages of the new Trump tax legislation. Every single bureaucratic word.
I say ‘joyful’ only half-jokingly, because it turns out that there’s a lot to celebrate in the plan. For one thing, as you’ve likely heard, the US has joined the Western world and dropped the corporate tax rate to a reasonable percentage. It’s actually lower than France’s.
Of course, the plan glaringly neglects to bring the US into the 21st century – there’s zero mention of e-commerce (it’s as if Amazon didn’t even exist) or cryptocurrencies.
But the new tax plan is still the biggest change in tax law since the Reagan administration.
And although it’s not the revamp the country deserves, there are still some significant changes. You’ve heard a few of them in the drive-by media. We’ll skip those.
Instead, in today’s alert we’re going to talk specifically about the parts of the tax plan that will directly affect your Plan B.
Your Plan B is vital to your financial freedom. It can help you legally and significantly lower your tax burden, for example, thereby freeing you up to invest your savings into powerful alternative vehicles.
But if you’ve assembled a great Plan B – or if you’re mulling how to do it – you have a decision to make, thanks to this legislation: Where will you locate your assets (and, possibly, yourself)?
I ask because if you have an offshore corporation, or if you’re an employee of a US company living abroad, or if you have been deferring tax payments, where you put yourself and your money will have big ramifications on your bottom line. You might need to make some tweaks to your Plan B if you want to keep it the well-greased financial protection engine that it is.
We explain all of this in today’s alert. And we do it in plain English. Even your accountant will understand it.
The legislation is vast, so this is only the first in a series of tax-related Alerts we’ll send you. But start with this one. Read it carefully. Show it to your advisor. And get cracking.
I say ‘joyful’ only half-jokingly, because it turns out that there’s a lot to celebrate in the plan. For one thing, as you’ve likely heard, the US has joined the Western world and dropped the corporate tax rate to a reasonable percentage. It’s actually lower than France’s.
Of course, the plan glaringly neglects to bring the US into the 21st century – there’s zero mention of e-commerce (it’s as if Amazon didn’t even exist) or cryptocurrencies.
But the new tax plan is still the biggest change in tax law since the Reagan administration.
And although it’s not the revamp the country deserves, there are still some significant changes. You’ve heard a few of them in the drive-by media. We’ll skip those.
Instead, in today’s alert we’re going to talk specifically about the parts of the tax plan that will directly affect your Plan B.
Your Plan B is vital to your financial freedom. It can help you legally and significantly lower your tax burden, for example, thereby freeing you up to invest your savings into powerful alternative vehicles.
But if you’ve assembled a great Plan B – or if you’re mulling how to do it – you have a decision to make, thanks to this legislation: Where will you locate your assets (and, possibly, yourself)?
I ask because if you have an offshore corporation, or if you’re an employee of a US company living abroad, or if you have been deferring tax payments, where you put yourself and your money will have big ramifications on your bottom line. You might need to make some tweaks to your Plan B if you want to keep it the well-greased financial protection engine that it is.
We explain all of this in today’s alert. And we do it in plain English. Even your accountant will understand it.
The legislation is vast, so this is only the first in a series of tax-related Alerts we’ll send you. But start with this one. Read it carefully. Show it to your advisor. And get cracking.
Recently, I had the joyful experience of reading all 1,097 pages of the new Trump tax legislation. Every single bureaucratic word. I say ‘joyful’ only half-jokingly, because it turns out that there’s a lot to celebrate in the plan. For one thing, as you’ve likely heard, the US has joined the Western world and dropped…
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