Hello Anthony, hello Claudine. We're joined today by Keith Redmond, American overseas global advocate. Keith, thank you so much for joining us today. - Well, thank you for the invitation, again. - Of course, we're talking today about common myths about Americans living overseas and we want to get your perspective since you do so much work with this group of people. - First, Anthony, I want to start with you. How do these tax issues differ from homeland American tax issues? - Well, I would say this. We are on the cusp of learning what the tax reform package is going to be, and part of the tax reform package is perhaps that switch to territorial tax for individuals. And if that changes, Americans overseas will no longer have to worry about filing their typical return. They do if they have a U.S. sourcing company, they might still have to file a 1040NR, but a lot of the hassle and burdens will be gone. So, it's going to be very interesting to see. I think tomorrow is the day it's going to be coming out, so pretty excited about that. But what we're really talking about is that if you are a U.S. person, the territorial tax change for you, it's not going to affect that much, alright? So, it's really the people who are living overseas, okay? They're going to be the primary beneficiaries of it. - Keith, my first question about this goes to you. The foreign earned income exclusion allows a hundred thousand US dollars to be tax-free, true or false? - Well, perspective one is looking at it, mind you. Let me qualify how I respond. I'm going by the response on the system that we have, that presidents because nothing has changed in the U.S. practices uniquely, aside from a...
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