The Essential Tax Podcast with Mishkin Santa, Episode 13

In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David Pitts, Actuary and Independent Practitioner. David brings his wealth of experience in actuarial science, focusing on valuation work related to U.S. exit taxes, pensions, and deferred compensation plans. He has a background in mathematics and has worked extensively with retirement plans, class action lawsuits, and more.

David explains his work with organizations like the World Bank and IMF, helping expatriates navigate the complexities of the U.S. exit tax. He also provides insights on actuarial calculations that determine the tax implications for those relinquishing U.S. citizenship or green card status.

Tune in for these key takeaways:

* Understanding the U.S. exit tax, including the gross present value and net worth tests

* The actuarial approach to valuing defined benefit plans for expatriates

* Key tax exclusions for foreign service and after-tax contributions

* The critical role of actuaries in calculating net present value for exit tax planning

* Real-world examples of how actuarial science applies to international retirement plans

Learn more about David Pitts:

* LinkedIn Profile: https://www.linkedin.com/in/davidgpittsfsa

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About The Essential Tax Podcast:

In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that make your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.

Watch or listen to more episodes of The Essential Tax Podcast:

* https://www.youtube.com/@TheWolfGroupPC

* Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944

* Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf

Connect and learn more from your host, Mishkin Santa:

* Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta

* Follow The Wolf Group, P.C. on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc

* Read Mishkin’s bio on Wolf Group, P.C.’s website: https://thewolfgroup.com/our-people/mishkin-santa