How are permanent residents and citizens taxed in the U.S.? - EB5Investors.com

How are permanent residents and citizens taxed in the U.S.?

My EB-5 visa just got approved and I am preparing for my relocation. I would like to know how the taxation system in the U.S. works for a permanent resident or citizen. I read that the tax liabilities involve gross income worldwide. Does this mean that as a resident or U.S. citizen with income from Brazil, I must pay U.S. tax on my Brazilian income?

Answers

Ed Beshara

Ed Beshara

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Answered on

Definitely you will need to retain the services of an experienced international tax attorney to assist you with pre-immigration tax planning, as to both Brazilian and U.S. tax matters.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

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Answered on

You will only be taxed beginning from when you move to the U.S. as a resident. After you become a resident, you will be liable for tax on all your income earned anywhere in the world.

Lynne Feldman

Lynne Feldman

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Answered on

Yes PRs and citizens pay taxes on worldwide income. You should consult an international tax person, as many countries have tax treaties to minimize or avoid double taxation.

Marko Issever

Marko Issever

EB-5 Broker Dealers
Answered on

There is no difference in the tax treatment of a green card holder and a U.S. citizen. You are taxed on your global income. Many countries have tax treaties with the U.S. and therefore, you can deduct the taxes you pay in those countries on income earned there from your overall global tax bill from the IRS. You should consult with a tax attorney or CPA who is knowledgeable about Brazil whether you will be allowed to deduct taxes you pay to Brazilian tax authorities.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

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Answered on

Yes, U.S. residents are taxable on worldwide income but can usually set off tax paid abroad via tax treaties.

Charles Foster

Charles Foster

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Answered on

Yes, conditional lawful permanent residents are taxed on worldwide income, but may be eligible for tax deduction based on foreign taxes paid abroad.

Igor Serbinin

Igor Serbinin

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Answered on

Yes, this is generally true. A U.S. resident or citizen is taxed on his/her worldwide income.

Hassan Elkhalil

Hassan Elkhalil

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Answered on

Green card holders and citizens are taxed the same. As a green card holder or a U.S. citizen, you are taxed on your income generated worldwide. I think you should consult with a CPA before you immigrate to the U.S. or upon arrival.

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