[ Offshore Tax ] Today's Thought - Non U.S. Spouse Don't Forget To Track Gifts

Sometimes gifts received or given have tax consequences.

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DERREN JOSEPH:
It is unlimited spousal gifting, but that applies if you have two US citizens or two US domiciles spouses, once you have, for example, one American spouse and one Irish spouse, then it doesn't apply. And then there's reporting requirement likely unless it's a pretty substantial gift, it's unlikely to trigger a tax, but it's definitely going to trigger some sort of reporting.

VOICE-OVER:

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