Castro & Co. Can Assist You with Taxation Matters When You Arrive in the U.S.
After you obtain your visa to live or work in the United States, your worldwide
income becomes subject to U.S. taxation. Not knowing what you really owe
in taxes can not only cause you to end up paying more than necessary,
but puts you at risk of serious penalties for underpaying your taxes or
failing to report foreign income.
Common “tax traps” in the U.S. that affect new immigrants include:
The gains of your foreign assets are subject to U.S. taxation
No tax credits for foreign taxes paid by your company abroad
Preferred qualified dividend tax treatment will not apply to investments
in non-treaty countries
Incurring a U.S. exit tax liability when you surrender your green card
or leave the U.S. without becoming a citizen
Our attorneys at Castro & Co. can help you avoid the tax traps that
commonly impact immigrants when they first arrive in the U.S. We can employ
a sophisticated strategy personalized to meet your needs. There are a
variety of complicated legal maneuvers we can employ to help you take
advantage of your rights and privileges in the U.S. tax code awarded to
you as a new immigrant.
Castro & Co.’s attorneys can help you avoid common tax traps
with strategies such as:
Treaty-based tax planning, which may allow green card holders to avoid
taxation on their foreign income
Pre-immigration liquidation strategies that can artificially step-up basis
in your foreign assets, which may stop the IRS from taxing built-in gain
of such assets
Obtaining foreign tax credits for taxation paid by your offshore company
Establishing special holding companies in treaty countries to benefit from
qualified dividend treatment
Do You Need a Pre-Immigration Tax Planning Attorney?
Clearly, these matters can have important impacts on your life. Get the
help you need from Castro & Co.’s attorneys who you can rely
on for the tax planning you need to rest assured that your best interests
can be secured.