How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10476
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
1929974
Type Your Tax Question Here...
Lane is online now
A new question is answered every 9 seconds

DOES PEOPLE FROM OTHER COUNTRIES GET A TAX BREAK ON START UP

Customer Question

DOES PEOPLE FROM OTHER COUNTRIES GET A TAX BREAK ON START UP OF A BUSSINESS
Submitted: 4 months ago.
Category: Tax
Expert:  Lane replied 4 months ago.

Hi. I can help here. My name's Lane

...

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

...

No. the US tax code provides no breaks for Non-resident Aliens or for resident aliens. The IRS (which administers that code) wants taxes from everyone.

...

Subpart F was designed to prevent U.S. citizens and resident individuals and corporations from artificially deferring otherwise taxable income through use of foreign entities. The rules require that: A U.S. Shareholder. of a Controlled Foreign Corporation ("CFC").

...

And there's even a 1040NR which Foreign persons must use to report and pay taxes if they are doing business in the US from abroad.

...

And for resident aliens (those that have met the substantial presence test OR who hold green cards) they use the very same tax forms as US citizens are taxed in the same way)

...

No, no breaks at all.

...

Please let me know if you have any questions at all, before rating me

...

If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit") ... Otherwise I receive no crediting for the work here.

...

Thank you!

Lane