0 shares | |
Benjamin Franklin famously said “in this world nothing can be said to be certain, except death and taxes.”????And that’s true for Americans, even if they cross the pond and marry a british royal.????In America, we tax based on citizenship.
David Treitel, founder of American Tax Returns Ltd.
Told CNN, quote "The United States has -- unique among nations -- a citizenship-based taxation (system), so as long as Meghan is a citizen of the United States she is taxed." ????And her baby will automatically be a citizen of the United States upon his or her birth.????Two Americans as royalty is a win.????There were some reports that the Queen would not gift items to Meghan, and Treitel gives a possible reason why...It would open up the Monarchy to the prying eyes of the IRS.
????He told CNN, "The Queen has got to sit there and her advisers have to sit there thinking: well if I lend Meghan a tiara, if I have the baby use a beautiful silver rattle that was used by Queen Victoria, how much is that worth?
What's the value of it?
How much is to be reported to the States?
It's a tough question, it's not easy,"????They say love conquers all, but when it comes to taxes, the IRS is going to get the part that love doesn’t conquer.