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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7734
Experience:  15years with H & R Block. Divisional leader, Instructor
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Hello;I am from The Bahamas and have been married to an American

Resolved Question:

Hello;
I am from The Bahamas and have been married to an American for 38 years. My wife use to live in The Bahamas, but for the past 15 years has been back in the U.S. living in Florida. I work in a family business and travel back and forth to visit her several times a year. We decided to close the family business a few years back, and sold one of our retail locations. For the past two years I have been forced to live off of my parts of that sale, as we continue to try and sell our major property, a warehouse. I have been thinking of moving to the U.S. to be with my wife full time, but do not want to become a burden on the government social services here. However, the majority of any money that I would have, will be as a result of the sale of the warehouse. Should I go ahead and apply for a green card now, or try and wait until the warehouse is sold, so that any monies coming to me are not subject to U.S. taxes until I bring it over and invest in some type of business or means of income over here?
Submitted: 1 year ago.
Category: Tax
Expert:  Guillermo J. Senmartin, Esq. replied 1 year ago.
Hello. Thank you for using our service. All I ask is that before you sign off, you rate me positively. If you are inclined to use the "poor service" or "bad service" options, please ask follow-up questions first and give me a chance. Sometimes the law doesn't have a good solution, but I will try hard to find it if it is available.


How much money does your spouse make per year? Is it just you and her or are there other dependents?
Customer: replied 1 year ago.


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.

Expert:  Guillermo J. Senmartin, Esq. replied 1 year ago.
Well, you have three options:

1) She can begin working again and show income of around $20,000 or more per year.

2) You can use 1/3 the value of any asset that you own to meet the requirement (so you would have to sell the warehouse and transfer the money to a U.S. bank account). Or of course if she has equity in a house of over $60,000, that would work as well.

3) She can look for a Joint Sponsor for the financial aspect of the case. This sponsor must also file the same Affidavit of Support that she does and submit the same evidence that she still has to submit. The Joint Sponsor can be any U.S. Citizen or U.S. Lawful Permanent Resident that is over the age of 18 that makes the minimum amount. It does not have to be a family member or a household member.

So there are options available. Please let me know if you have additional questions and please do not forget to rate my service to you (not the state of the law) as that is the only way that I can get credit for my assistance. Even after you rate the service, I can still answer additional questions for you without additional charge. If you do rate me positively, a bonus is always appreciated. If you would like to request me in the future, just go to http://www.justanswer.com/law/expert-guillermosenmartin/. Thank you!
Customer: replied 1 year ago.

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.?


 


 

Expert:  Guillermo J. Senmartin, Esq. replied 1 year ago.
Then that is a tax question, not an immigration question. I will Opt Out and transfer your question to that section. Please do not respond to me because it will delay the transfer of your question. Thank you and sorry for the inconvenience.
Expert:  Wendy-Mod replied 1 year ago.
Hello,


I’m Wendy, and I’m moderator for this topic. It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you right away, but sometimes finding the right professional can take a little longer than expected.


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Customer: replied 1 year ago.


Still waiting...

Expert:  Wendy-Mod replied 1 year ago.
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Best,
Wendy
Expert:  Fran-mod replied 1 year ago.
We are still working with the professionals to find you the best possible match. I wanted to touch base to see if you still needed a professional’s assistance.

Please let me know if you would like to continue to wait or if you would like to cancel your question at this time. We sincerely XXXXX XXXXX the extended wait time.
Customer: replied 1 year ago.


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.

Expert:  Robin D. replied 1 year ago.
Hello and thank you for using Just Answer,
Your question has been moved to the Tax Category.
You asked "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.?"
When you are a resident alien or Green Card holder in the US you pay tax just like a citizen. This means that when you sell the property you will need to report the sale and pay tax in the US on the gain but if a loss from the sale then you would be allowed to use that against income. This is true even if you left the money in the other country when you sale.
Unfortunately, under US tax law you will pay tax on the gain (if you have a gain) and then if you use those funds to earn more money you will pay tax on the earnings as well.
Please respond to me before you rate if you need clarification and thank you again for your patience while the Customer Support moved you to the correct area for your question.
Customer: replied 1 year ago.

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?

Expert:  Robin D. replied 1 year ago.

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.

 

Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7734
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D.
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15years with H & R Block. Divisional leader, Instructor