Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

If I am an expatriate living outside of the United States, will my foreign assets to be subject to U.S. taxation?

Expatriate foreign assets U.S. Taxation
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Dan Gordon
Let me ask you, are your US assets subject to taxation, no with the exception of property tax. Income is what is taxed! No matter how many millions you have in assets abroad if the assets do not generate an income there is not really any tax. This is "Income Tax."
Leave a Comment 50 weeks ago

User Photo
John Richardson
1. Taxation of income from your remaining “non-U.S. assets”
You will be shocked to find that many of your “foreign assets” will be subject to particularly punitive U.S. taxation.
2. Reporting of your “non-U.S. assets”
If you are moving to America, you are moving from another country. You will very likely retain financial assets and bank accounts in that country. From a U.S. perspective, these assets are “foreign” and therefore a “fertile ground” for taxation and penalties.
Read the entire post: www.taxconnections.com/taxblog/coming-to-america-welcome-to-the-land-of-fbars/
Leave a Comment 50 weeks ago

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today