Use this checklist to check off all your 2022 year-end financial items – hopefully leading to tax savings at tax filing next year or in the future.
Today I’m going to show you how the IRS gets information about your foreign accounts.
They know how much you have in there, and they know when you reach certain thresholds They know when you should be reporting this and when you shouldn’t.
Filing taxes the first year in the US as an immigrant or as a non-US citizen is not for the faint of heart. You need to figure out your filing status, in addition to understanding different concepts in the tax code. This post discusses what you need to keep in mind as you go through the process.
My first post on retirement daily discusses tax issues to be aware of, if you own any type of non-US financial assets. The focus is on keeping the taxman happy, saving yourself some money and future stress if you have non-US financial ties.
If you own any cash or securities type of assets in a foreign country, you might need to file an FBAR at tax time. Your top questions on the topic answered.
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?
We never spam. By signing up, you'll also receive access to future resources right to your inbox. You can unsubscribe at any time.
