PLAN AHEAD. The United States taxes its citizens and tax residents on their worldwide income. This includes those who are a permanent resident, a student, a temporary worker or even those who become an accidental tax resident by spending too many days in the United States. Tax residents will be subject to Federal income tax, Federal estate tax, Federal gift tax, and possibly taxes imposed at the state and local level. Once you become a United States tax resident, the opportunities for preimmigration tax planning are lost. For example, the ability to accelerate income and defer losses, planning with […]
Click here to visit source. www.jdsupra.com