In this webinar, Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, GFP Fellow CFP® reviewed the most important provisions of this bill and how it affects Australians in America and Americans in Australia.
Some of the relevant issues that were addressed include:
- The effect of the Trump-Era Tax Cuts now being made permanent, including the QBI extension and the mortgage interest deduction caps
- Changes to State and Local Tax deductions
- “No tax on Social Security” provision
- Remittance Tax: Imposes a 1% tax on international cash transfers, affecting both U.S. citizens and immigrants sending money abroad
- Permanent extension of the Estate tax limit, and the risk of
- Retaliatory International Tax Provisions
We hope you enjoy!