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Conditional residency and leaving country....

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  • ARQU
    replied
    Income generates Tax liabilty somewhere... Simple as that.

    There are a thousand considerations but basically if you earn income in a foreign country, you will have to claim it as income and pay tax on it in BOTH coutries (ie: double tax). However, many countries have tax treaties between them (ie: US & Canada) that allows you to claim a foreign tax credit and therefore wipe out the 'lower' tax of the two (you will pay the higher rate to either the foreign country or the US).

    I am no tax expert so I could be very wrong on all this. However, I can speak from experience that if I earn income in Canada (or have assets that are taxable), then I am subject to Revenue Canada's taxation as well as the IRS on that income. I can claim the US tax as a credit on my Canadian tax filing, but will have to pay the 15% or so difference to Canada. (45% vs 30% or whatever it works out to).

    As I mentioned, this is only my take on this. I would STRONGLY advise you to consult the appropriate tax laws of the two countries involved (ie: US & ?) to see if it is even worth working outside the US or not. OFTEN IT IS NOT!

    ARQU

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  • Pasha Patel
    replied
    Hi nireehamdi ,

    I hope everything is going well with you... I can only answer to part of your questions... no it wont be considered as residency abandoned if he/she goes out of country for 6 months... but make sure he comes back before his conditional green card expires... if he plans to stay for more than a year then he will have to obtain a reentry permit before leaving USA ....

    I don't think foreign income can be counted in income tax as its not earned in USA but I have no idea about this... well if u guys are filing jointly then it wouldn't matter even if he didn't work for some period...but I may be wrong on this one...I m no tax expert...so ask 4now about this...I m sure 4now will competently answer to this one...good luck...Pasha

    Leave a comment:


  • Arun
    replied
    nireehamdi, R u still that same guy ? I have read your past post. Is he still having his girlfriend ?

    Leave a comment:


  • nireehamdi
    replied
    Sorry, no I am not...I am the US citizen....
    i am not a pretender at much of anything.

    Leave a comment:


  • Depo Man
    replied
    I smell something fishy; are you the alien who pretends to be USC on this board?

    Leave a comment:


  • nireehamdi
    replied
    QUestion on: What if coniditonal residency
    husband or wife....during this period decides]
    to return to home country and work for a period]of time....(I would assume it would have to be a
    short period like 6 months to a year)....or the
    case might be thought of as abandoned.....also, what about filing income taxes....I would assume
    that foreign income has to be counted.. but I
    do not know.... ANY COMMENTS.... Thanks.

    Leave a comment:


  • nireehamdi
    started a topic Conditional residency and leaving country....

    Conditional residency and leaving country....

    QUestion on: What if coniditonal residency
    husband or wife....during this period decides]
    to return to home country and work for a period]of time....(I would assume it would have to be a
    short period like 6 months to a year)....or the
    case might be thought of as abandoned.....also, what about filing income taxes....I would assume
    that foreign income has to be counted.. but I
    do not know.... ANY COMMENTS.... Thanks.
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