Almost one million foreign individuals relocate to the United States to find a permanent home in America every year. Many of these immigrants owned substantial wealth that they have made during the course of their lifetimes, which have nothing to do with success in the United States.
Care needs to be taken by these individuals in order to ensure that they are not paying taxes on gains and earnings that have accrued before they became U.S. taxpayers.
There are several techniques can be used to ensure there is no tax in the U.S. on gains and earnings accrued before U.S. residency. This course will review the principles behind these techniques and the techniques themselves.
Learning Objectives
- Explore the tax pattern that the new foreign investor will face in the United States.
- Identify the different taxes the immigrant tax resident must be concerned with regarding both his or her worldwide income and wealth.
- Discover the U.S. investments that are designed to result in tax savings.
- Recognize that the United States is not a country of high taxes.
- 1. Corporate Tax Filing: Schedule M-3: Additional Reporting in Parts II and III
- 2. Tangible Property Regulations
- 3. Practical International Tax for the Non-Specialist #1: Tax Residency and Foreign Financial Account Disclosures
- 4. Corporate Tax Filing: Schedule M-3: Reporting Requirements for a Consolidated Group
- 5. Claiming Dependents on a Tax Return
- 6. Consolidated Corporate Tax Returns: Advantages and Disadvantages
- 7. Practical International Tax for the Non-Specialist #7: Foreign Investment in US Real Property - FIRPTA
- 8. IRS Representation Series - When Collections and Audits Fail
- 9. Practical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals
- 10. Practical Application For Accounting For Income Taxes Based On Income Part 1
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Prerequisites
No advanced preparation or prerequisites are required for this course.