The United States continues to strengthen its position as the global hub for high-net-worth earners. In fact, the US population of high earners climbed 7.6 percent last year, making it the fastest-growing location for this group. But the US also features complicated tax rules for high-earning non-citizens. Too often, a high-net-worth individual (HNWI) will relocate to the US only to be hit by unexpected taxes, overtaxed investments, or penalties for misreporting.
In this article, we lay out the most common tax misconceptions for relocating HNWIs and provide three money-saving relocation tax planning tips to help high-net-worth earners reduce their tax anxieties.
