Basswood Counsel is a boutique law firm providing hands-on, strategic corporate, mergers and acquisitions, tax, and transactional counsel—designed to navigate complexity with ease. Founded to prioritize meaningful client relationships over formalities, we collaborate with bold leaders across industries, tailoring our advice to support your unique goals and growth.

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Complexities With Care

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Our mission is to empower our clients to make informed decisions and achieve successful outcomes. We navigate legal complexities with clarity and precision to foster trust and understanding by breaking down legal jargon into easily comprehensible information. Our client-centric approach ensures a collaborative and productive partnership.

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US Exit Tax, Covered Expatriates, and Planning Ahead: A Legal and Tax Perspective

 

Gina Lee and Christopher Klug break down the U.S. Exit Tax and what it means for citizens and long-term green card holders considering expatriation. They walk through the key tests that determine “covered expatriate” status, the mechanics of the mark-to-market regime, and strategies for mitigating unintended tax consequences. 

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