Meghan Markle’s US citizenship sparks tax troubles for royals

She has to pay her fair share.

She should pay her fair share when our president and all the other one percenters pay their fair share.

That's a hideous picture, OP.

Her face is a cave face. It's a bad as that ugly Keira Knightly.

We deserve to see her tax returns.

[quote]despite marrying Prince Harry earlier this year and formally applying to become a British subject — a process which could take several years to come into effect.

How can a British Royal not be a British subject, and the process could take several years??

Any Brits care to comment?

I would think her British citizenship would be automatic, as a result of marrying into the Royal Family.

Unless she renounces her US citizenship, even if Markle had U.K. citizenship, she still has to file US tax returns.

It's pretty obvious that she is going to renounce her US citizenship.

I don't think you automatically become a british citizen when you marry one. Even in US, you have to wait a few years becoming US citizen. You become Perm Resident first (green card), then you have to apply to become US citizen.

How does it work in UK?

What's wrong with her upper lip?

How in the hell is a gutter snipe z-list actress like MM worth 6.8 million dollars ? Escorting ?

Harry ad Markle will be divorced before the royal family income comes to light.

Harry and Markle are both imposters.

Even if she renounces USA citizenship she'll have to pay an exit tax which is a sizeable percentage of her estate still in the States.

This article for the most part is full of misinformation.

She only has to pay if she ever plans to go back to the US. Liz won't extradite her. Charles, on the other hand, would sell her ass so Camilla could have another crate of vodka.

Why should Harry pay US tax on account of his wife ?

This article is BS. Only she has to pay. He doesn't at all. Her gifts will be gifted to some LLC and can't be traced and so it can't be taxed.

R17 But she owns half his income

We need another tunnel pillar, Liz.

R10 I believe that to be current ANNUAL income. I have read her net worth is worth is approximately $22-24M.

[quote] But she owns half his income

No, she doesn't. His trusts were set up as "non-marital assets". His income from the trusts remains his and his alone.

R20 She does if it’s an equal partnership

[quote]No, she doesn't. His trusts were set up as "non-marital assets". His income from the trusts remains his and his alone.

While the actual trust is his, the income it generates during their marriage may be another matter, depending on how that income is structured.

For US tax purposes, it certainly would be scrutinized to determine whether it constitutes income.

r19....BWHAHAHAHA. I just spit out my drink. As stated above, how could a gutter snipe z-list actress be worth that much money ? The article said 6.8 mill....yours says 4x as much. She NEVER had any job that would pay her anywhere near that much money. She didnt get a lot in her divorce. If true, how the hell did she "earn it" ?

[quote][R10] I believe that to be current ANNUAL income. I have read her net worth is worth is approximately $22-24M.

LOL, nowhere near. She was never even worth anywhere near the $5 mil she was reported to be worth when she married. It was all PR. She never had acting jobs that would have given anywhere near that net worth after expenses. Even with unreported income for whoring, she was never that sought after a whore.

There is no fucking way she's worth that much money. I don't think she has $1 Million of her own money. In fact, I'd be surprised if she had $100K of her own money.

This is all PR bullshit spin to make her not seem like the busted fucking hooker she is.

[quote]This is all PR bullshit spin to make her not seem like the busted fucking hooker she is.

That’s really harsh.

...but true.

The Queen should just tell the IRS to fuck off on Harry's money 'cause they ain't a'gonna pay! And if I was Meghan I would just go ahead and relinquish my US citizenship, if she can do that before she obtains British citizenship.

R25 I'm only reporting was has been written about HRH Duchess of Sussex. Her average income was $450,000. The cheat sheet online corrects previous estimates, and lists her as $5M before marriage. I suspect the other publications may have included her engagement ring in their calculations. Before [italic] Suits [/italic], she was on [italic] Deal Or No Deal [/italic].

I thought that as a royal she has to give up her American citizenship?

If all the fucking American corporations can figure out how to not pay taxes by putting all their money off shore (Cayman Islands etc.) then I'm sure Meghan's tax attorney can figure it out too.

R30 Correct! If she has assets still in the States, income from properties, as well as bank accounts could be seized by the IRS. The US has quite a favourable tax treaty with Britain. It is meant to end double taxation in both countries. One usually get "topped off" either way. The US can be fierce trying to make clawbacks, but as her family has virtually no monies for her to inherit, she probably has nothing to lose trying to outwit them.

Interesting her engagement ring is estimated at £350,000, and the wedding band at over £50,000. According to an article in T&C, it could sell for between $500,000-$1M. She also received according Insider, a bracelet from Cartier worth $322, 211, and a pair of earrings, worth $80,000, also from Cartier. I think people over estimating her, were speculating on her jewelry.

[quote] I thought that as a royal she has to give up her American citizenship?

I might be mistaken, but I think the rules on that have changed. If she married the heir to the throne, she would have been required to give it up. Harry is sixth in line now, so it's not necessary. I think she could keep her American citizenship, but because she's royal, in Britain her dual citizenship would not be recognized. As an American citizen, technically she is not allowed to "have" a title.

I think they can afford to pay any taxes they owe.

R19 has to be sarcasm. You think her job on "Suits" paid anywhere in the same universe as those figures? Oh dear.

oh please! 8 million? perhaps, that's the figure for all the acting jobs she has been in, but without accounting the percentages taken by her agent, PR, manager, accountant, personal trainer and uncle sam.

She did own a house which she sold in Canada.

R36 did she actually own a house there or was it rented for her while filming Suits?

Her apartment was rented (and then sold by the owners for a cool 1.5 mil, post the royal wedding)

R5, the UK doesn't have jus sanguinis or jus solis, so there is no automatic conferring of nationality by birth or descent. Marriage means diddly squat in that respect too. Megan would have to show (a) the marriage is genuine for the purpose of obtaining and maintaining residency and (b) complete the required residency period in order to be eligible to apply for citizenship. Basically, she joins the queue with every other foreigner.

If she had any special talent, like being a star athlete with at least one recent British forebear, then her application for citizenship could be accelerated. (See Zola Budd).

Isn’t tax based on where you reside and not your citizenship ?

Didn't she stop earning money when she left "Suits"?

R40. US citizen is supposed to pay tax on any income, doesn't matter where you live. And if you have a foreign bank account, you're supposed to report that to IRS.

Even RuPaul’s Drag Race queens are millionaires now - get with it!

What a nonsequitor r43.

Like marrying a Royal isn't going to speed up the naturalization process.

One can be sure she was given more than adequate financial counsel during the engagement to remove her meager assets from the long arm if the IRS.

Jewels gifted to her will avoid taxation by registry of them as property of the royal family. In other words they're on loan to her.

MM's greatest dilemma IMO will be the decision to renounce USA citizenship. Some do it easily, others struggle. She may refuse to do so even though it would eliminate the fuckery that is USA tax law for citizens living/working abroad

She'd be better keeping it despite the cost. If she ends up like Fergie in the future living back in the US will probably be an easier life. I'm sure of course they will live happily ever after. Just in case though!

Isn't there a dual taxation treaty between the two countries? special relationship and all that?

There is a treaty, but it only applies to avoid double taxation.

would a dual citizen pay in both countries

How would the US gov't know how much the Royal family gives her? She isn't going to hand over documentation and why should she. Fuck the Trump regime.

Toadstool didn't get invited remember?

The US IRS are greedy pigs.

[quote]The US IRS are greedy pigs.

Tell that to huge corporations like Apple and Google and Microsoft and WalMart and many many others who pay little or no income tax in the US.

Yes and no, r49. There are tie breaker rules. They may pay in both countries but they will first pay where there is a more significant tie to the source earned.

She can afford any bills due. I hope she doesn’t give up her citizenship over money.

She can always get it back r55

Don’t people live abroad to escape tax ?

Of course, the RF conducted microscopic Due Diligence on the soon-to-be Duchess.

In presenting said investigation's finding to her/her formal counsel, a plethora of formal documents were presented to the soon-to-be Duchess to execute before the Royal Engagement announcement was even drafted. (Said documents were reviewed and approved by her formal counsel.) Formal agreements between both parties had were prepared. Had either party disputed the contingencies in said agreements, the Royal Engagement between the parties in question would not have occurred: Business is business.

The RF's estate and Harry's estate are exempt from her financial issues.

R48. The treaty does no prevent double taxation. Why do you think so many Americans renounce citizenship?

There is a forgiveness of taxation up to a certain point. Around 120k if i re call correctly. Anything over that is double taxed. Its ridiculous.

Fortunately for Nutmeg, under the United States tax code, gifts are not income - so she doesn't owe income tax for any of the gifts, no matter how large they are.

[quote]And as her spouse, it also means Prince Harry’s own income could be affected

Australians must be even dumber than I thought they were if they really believe the US can make a member of the royal family pay a portion of their personal income to the US government. Seriously Aussies. How dumb are you people?

You are wrong r59.

Americans renouncing citizenship typically have no ties to the US. If they own shares in companies, US reporting is onerous. If they are beneficiaries of trusts, same thing. These are typically nothings in common law jurisdictions such as Canada or the UK.

I’ve done tax returns for Americans living in Canada for decades. They always pay more tax in Canada. Those owning companies look into renouncing, mostly because of the cost of compliance, not tax liability which usually is zero.

Good

Busted Ass Hooker.

Once she pops out that Royal child... she’s set for life and won’t have any need for US citizenship.

Someone should inform Australia that the super rich don't pay taxes in America.