Family, Dependents & Gift/Estate Tax

U.S. citizens and green card holders face potential dual taxation from U.S. and Japanese authorities upon death. The U.S. estate tax exemption of approximately $13.61 million significantly dwarfs Japan’s inheritance tax basic exemption (e.g., ~$320,000 for 3 heirs), creating substantial risk. Japanese assets are subject to worldwide taxation principles, leading to unexpected tax burdens. With the U.S. exemption potentially halving in 2026, proactive estate planning is crucial. This article details the tax disparities, worldwide taxation, double taxation risks, and strategic solutions with case studies.

The Courage to Revoke FEIE and the 5-Year Lock: A Strategic Choice for the Child Tax Credit and the Pitfalls

Introduction For Japanese nationals residing in the U.S., Joint Tenancy With Right Of Survivorship (JTWROS) accounts are a common and

For US taxpayers, how is Japan’s ‘Furusato Nozei’ treated under US tax law? This article thoroughly explains whether it qualifies for a ‘Foreign Tax Credit,’ a ‘Charitable Contribution Deduction,’ or is simply a personal expense, based on IRS definitions and prevailing interpretations. The conclusion is that Furusato Nozei is generally considered a non-deductible ‘personal expense’ for US tax purposes. Through detailed analysis and concrete examples by a professional, gain a complete understanding of Furusato Nozei’s treatment in the US.

Introduction Divorce is undoubtedly one of life’s most challenging periods, bringing not only emotional strain but also complex legal and

Introduction While sharing some similarities, the tax systems of the United States and Japan adopt fundamentally different approaches in several

Introduction The U.S. gift tax system possesses fundamental characteristics that differ significantly from Japan’s. These differences are particularly pronounced in

Introduction Gift tax in the United States operates under a unique principle compared to many other countries, placing the reporting

Introduction For families with dependent children in the United States, the tax system offers crucial mechanisms to alleviate tax burdens.