She is retired ( 66 years old) and doesn't make a salary. (She collects $400 from SSI. We have a LLC company we formed this past year for a house that was left to her by her father in law. It made $20K rent, but the associated costs involved for her to live, offset that amount. No other dependents.
I think that maybe you are misunderstanding my question. At the moment I bring some funds to my wife to help her pay her bills, as what she has here is not enough. However, I am not looking for a financial sponsor for myself. I do have enough liquid assets to be able to get a green card; HOWEVER the funds I DO have would not last forever, and for me to start up a business over here, I would need the proceeds from the sale of my family warehouse. What I am asking is that while I know I can bring the money over I now have without paying any U.S. taxes on it, (until I use any of it to make an income,) what happens if I get my green card now, sell the warehouse later, then bring those funds over to invest and live on. Would I have to pay U.S. taxes on that, or not until I DO make an income from it in the U.S.?
I thought that there were tax lawyers available at Just Answer?
If you cannot help, please let me know, rather than ask if I would like to cancel.
O.K. Robin, you answered the question. Just to be absolutely sure 'though, whatever funds I have (or accumulate) before I apply for the green card, can be brought over and I won't pay any taxes until I use it to make income, right?
And am I subject to U.S. taxes when I APPLY for the green card, or when I RECEIVE a green card?
That is correct. The US does not tax non US sourced income of Nonresident aliens. When you become a US person by either time here in the US or the Green card then you are taxed on all income worldwide.