Questions tagged [foreign-income]
To be used for questions related to income received from outside the country in which you reside or claim as a primary residence for tax purposes
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Withholding of tax on nonresident aliens - US & Mauritius?
The Context:
Me: A Sole Trader with an opened business in Mauritius, currently located in Mauritius, never been to the US, constantly working remotely from Mauritius. (non US citizen)
Company Employer:...
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What's the tax system for foreign money earned in India through an international gaming business?
I run a solo gaming international business from India. People purchase gaming virtual products in GBP (Pounds) through my website hosted on "Tebex" which charges Sales Tax, Gateway Fee & ...
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Double tax treaty US-UK for UK resident
I want to understand if I'll pay taxes to the UK on my foreign income earned in the US and if the current tax treaty allows me to be exempt. Next is my understanding, and I'd like to know if it is ...
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exchange rate for taxes paid and reported on form 1116
I am US citizen living in Spain, and received interest income from deposits in Spain and India. I am reporting these on Schedule B and form 1116 to get credit for the taxes I paid on the interest ...
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double taxation when more than two countries are involved
I am a US citizen living in Spain with a bank account in India as well that earns interest. Conceptually, I understand avoiding double taxation when two countries are involved. But, how does it work ...
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Foreign Tax Compliance Question
I am writing to seek guidance on my tax compliance situation as a non-immigrant from a foreign country A(where there is no tax-treaty with USA) who came to the USA in mid-2019 on a working visa.
In ...
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Do I need to declare foreign income below the foreign earned income exclusion?
At the beginning of April 2023 I obtained my green card and became a US resident (resident alien). I resigned my position in Canada and started employment with a US entity.
January - April
Canadian ...
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Qualified business income in the US
While filing tax returns, I was asked, "Is this business effectively connected with the conduct of trade or business within the United States?" then I got a little confused.
I'm a US citizen ...
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213
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Switzerland taxation over income derived from foreign businesses
I'm considering moving to Switzerland permanently (I'm Italian, currently living in Italy), but I would like to know if my income derived from an US LLC (foreign-owned single-member LLC) is exempt ...
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[India-US]Taxability of qualified dividends on US mutual funds by Income Tax department of India
AFAIK, dividends paid out by mutual funds are of two categories, ordinary and qualified. The ordinary dividends are taxed as ordinary income while the qualified dividends receive the favourable LTCG (...
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Taxes for selling property in foreign country
I've been owning half of the house in Russia before I immigrated to the US and I recently inherited the 2nd part of it. Now I'm thinking to sell it.
Should I pay any taxes in the US if I sell it?
I'm ...
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New US tax resident 2022 - from Canada. RRSP/bank-accounts/income questions
I moved from Canada to USA on May 30 2022 and work here as a full-time W2 employee. That makes me a US tax resident (alien) for 2022. Here's my detailed situation:
I earned a salary until May 26 2022 ...
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As an overseas company owner, what are my tax obligations to the UK?
I'm a dual resident of the UK and Country X for tax purposes. I'm not employed in the UK or Country X. However, I have a single company registered in Country X, which has regular income. The income ...
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Where to report foreign earned income on 2022 1040 form
In 2021 and earlier (PDF), line 1 of the 1040 form said "Wages, salaries, tips, etc. Attach Form(s) W-2". So I would include foreign earned income in that line (and then deduct it further ...
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H4 visa spouse Taxes : Joint or Separate
I'm working on H1B visa since Oct 2019 in the US and married in 2022. My spouse (on H4 visa) is working in Canada and has income in Canada. She doesn't have any income in the US and has no W2 and SSN/...
