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I am a non resident non US citizen married to a US citizen,

I am a non resident non US citizen married to a US citizen, we live in London UKJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Looking to buy a property in US, what is the most efficient way to do it from tax perspective?JA: Is there anything else important you think the Accountant should know?Customer: We both work and pay taxes in UK, my wife files tax returns in US but she pays enough tax in UK so that she does not need to pay any tax in USJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

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Robin D.

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Is trust property subject to a death tax?

Is trust property subject to a death tax?

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Lane

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I am a U.S. citizen, and a naturalized Mexican retired and

I am a U.S. citizen, and a naturalized Mexican retired and living full time in México for over 30 years.My now exwife who was a Mexican non U.S. resident owned a business Mexico as a sole owner, and filed her taxes seperately.In our divorce the judge ordered the business to be sold and the proceeds be divided equally.My question is my divorce settlement taxable in the U.S.?

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Robin D.

Vocational, Technical or Trade School

 
20,266 satisfied customers
I am a UK citizen with a vacation home in Palm Beach, FL that

I am a UK citizen with a vacation home in Palm Beach, FL that is approximately valued at $5 million. My health is failing and my wife will be the beneficiary of the home when I pass.My chartered accountant in the UK recommends I see an estate attorney here to set up a Qualified Domestic Trust so that my wife does not incur a large estate tax bill.Do you recommend I do this?

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Robin D.

Vocational, Technical or Trade School

 
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I have a client who wants to put 1 million into life insurance

I have a client who wants to put 1 million into life insurance buying a face value of 2 million. He is worth approximately 20 million. How is the 1 million he would deposit with a life insurance carrier treated from a tax standpoint. Is there a downside for this client?

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Robin D.

Vocational, Technical or Trade School

 
20,266 satisfied customers
In our soon to be divorce, my husband has been gone 5 years

In our soon to be divorce, my husband has been gone 5 years and we both own the farm he has lived in the past 3 years, I have not lived there. The farm has pending contract to sell. There will be a profit of about $200,000. What is the best way to do the divorce so I will not have to pay taxes on my share since I have not lived there and it is my understanding I will not be able to use my marital deduction on the farm. I am living in our house, which will break even when it sells, and will not need a marital deduction. We also have a business that is leased and will sell next year at a loss about $100,000. He will be entitled to his marital deduction to cover his profit on the farm. Is there any way to do this with a judgment or gift or any other combination that will allow me not to pay tax on the farm...he won't have to...so unequal division in my eyes.Also the business, closed now, mistakenly, has had the K1 filed as 100% in his name only since inception, although the stock certificate says (his name) and wife own 10,000 shares. There is significant NOL. He has refused to file with me the past 2 years which has caused me to have to pay taxes on my income. Is there a solution to this? Thank you.

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Lev

Retired

Bachelor's Degree Equivalent

 
24,192 satisfied customers
This is a question . Asad Rahman, Estate Lawyer. What

This is a question for Dr. Asad Rahman, Estate Lawyer. What is currently the % federal tax heirs should pay? I understood if the total value of the heritage is $5 million or more the tax rate is very high (50%?), but how much is it if lower? If there a window of time in which those %s apply?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
If a foreigner relative inherited estate from US - does he/she

If a foreigner relative inherited estate from US - does he/she has to pay US tax on inheritance?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I am on a non immigrant L1 visa living in the state of Indiana

I am on a non immigrant L1 visa living in the state of Indiana and in the process of buying a house. We plan to use cash to fund 80% of the purchase, cash that is located out of the country. The cash was left to my wife in a will and is fully tax compliant in the country of origin. The cash is currently in my wife's back account and the bank advise that given her name is ***** ***** the mortgage documents she needs to gift the money to me her husband. Therefore when the money is lodged into our joint account here in the US I can show the bank how it got there etc. The value of the gift is well in excess 50k USD. My question is are we liable for Indiana state or federal IRS based tax? Its my understanding gifts between spouses are not taxable however as we are not US citizens does this make a difference?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
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