If I own foreign rental property, do I have to include the income when I file my US taxes? The answer is yes, although it depends on your tax residency status. Read the rest of the post for the details on how you go about figuring this out and what to do with your foreign rental income.
Category: Tax Planning
The in-depth specifics of the Child Tax Credit and how the 2021 monthly advance payments could potentially impact your financial situation if you qualify.
According to IRS, as an immigrant you are either a resident or nonresident alien. Here is a way to figure out your exact tax status.
The U.S. is one of the very few countries that taxes citizens and green card holders on worldwide income, regardless of where they live. What strategies can immigrants use to minimize some of the tax liability?