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We are selling a building in the US and transferring the
We are selling a building in the US and transferring the money overseas. My father is a foreigner and plans to gift money to me as a foreigner. Our accountant suggests that I wait one year before purc… read more
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estate left to a non resident - old law and proposed law … read more
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My father who is from Germany bought a house for me here in the US. We want to sell the house for several reasons and buy a new house. The problem though with FIRPA is that IRS withholds 10 to 15% of … read more
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Second opinion] Do I need to sign up first? OK. As executor
OK. As executor of my stepfather's Trust, I will have to distribute the 1 million dollar estate (mostly CDs) upon his death to 4 US and 10 foreign (Hungarian) beneficiaries. Hungary has no inheritance tax. US has tax exclusion up to 5+ million. 1. Will I need to file Form 706 even if the estate is only 1 million. 2. Is it true that the US exclusion does not apply to the share of the foreign recipients, they get individually only 60K exclusion. 3. If their share is over 60K what form (1042, or other) would I need to file on behalf of the Hungarian recipients 4. Will I need to file any form on their behalf even if it was below 60K? … read more
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My wife was recently notified that she is entitled to an
Hello, my wife was recently notified that she is entitled to an inheritance from her mother's side of family in the Philippines, but the situation is a bit complicated.Background: My wife's mother is … read more
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I have a client who has 2 LLC in the state of Florida he
I have a client who has 2 LLC in the state of Florida he doesn't live in the USA he is a non- resident. His son has a 1% interest and the dad has a 99% interest. The father wants to give his son a 50%… read more
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I am a Canadian citizen and my daughter who lives in Vegas
Hi, I am a Canadian citizen and my daughter who lives in Vegas has had her Green Card for over 8 years. I am thinking of transferring the deed of one condo I own here in Vegas over to her. Will I or h… read more
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I'm a permanent resident in WA State,(Canadian Citizen)
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Looking for the ways to optimize gift/estate/other if possible taxes. Only need leading ideas. I will accomplish them into practical forms later w local attorney. Trustor NRA (my Dad, overseas, NRA). … read more
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My parents - father (non-US citizen living abroad) and mother
My parents - father (non-US citizen living abroad) and mother (a US citizen living abroad) have a real estate and some cash in the bank both here in the US. Both the real estate and cash are under bot… read more
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my wife and I are permanent residents (green card holders)
my wife and I are permanent residents (green card holders) of the US. Is this a tax disadvantage in regard to estate taxes when one of us dies? Our biggest asset is our home which we own jointly value… read more
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foreign nationals that own property in the U.S. if they sell
foreign nationals that own property in the U.S. if they sell or transfer property to other individuals (that are U.S. Citizens) in the U.S. do they need to pay taxes? Would a foreign national be able … read more
Lev
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I am a U.K. citizen and jointly own a house in Florida with
I am a U.K. citizen and jointly own a house in Florida with my wife I have major concerns about the egregious taxes on non domiciled aliens with regard to US inheritance taxes I am thinking of setting… read more
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I am a dual Canadian-US citizen permanently residing in Canada
I am a dual Canadian-US citizen permanently residing in Canada (I have not resided in the US since 1971 and file US tax returns yearly), with a Canadian (only) husband and stepdaughter. We are current… read more
Lev
Lev
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I am about to inherit approx $500,000 from my father who has
I am about to inherit approx $500,000 from my father who has just died in the UK. He was a UK resident and citizen. The estate will be taxed at UK rates and laws and I will receive the money in my own… read more
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Is the gift tax applicable to a transfer of funds from a US ...
Is the gift tax applicable to a transfer of funds from a US bank by a non-resident alien, where the transfer is made by wire transfer?… read more
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I am a German permanent resident in the US (husband and
I am a 30-year old German permanent resident in the US (husband and child are US citizens). I am considering applying for US citizenship, but Germany will only allow me to have dual citizenship (keep … read more
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Inheritance Tax in Texas between US citizen and forigner ...
Inheritance Tax in Texas between a US citizen and a forigner. My father is a Taiwanese citizen and has not come to US for the last 9 years. I am a US citizen. He has a CD account at US bank in Texas f… read more
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Lev
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