New IRS Programs for Those Who Surrendered Their Citizenship WIthout FIling IRS Tax Returns and Surrender Forms

If you surrender your US Citizenship you are required to be current on US taxes and file certain special forms that allow you to take your assets with you and if they are less than $2million not pay any taxes on any appreciation in those assets. Failure to file final returns and file the Form 8854 means you still remain liable for US taxes until you do comply with the IRS procedures.  This IRS requirement is separate from any procedures and forms you fill out when you surrender  your citizenship with the US State Department.

This program if you qualify may result in you paying no taxes at all and having a clean tax bill of health.  Read more about the program HERE

If you want to use this program to avoid possible future huge penalties, taxes and interest we can help.  An ever increasing number of countries are now exchanging ever increasing information with the US IRS and sometime in the future you may have problems if you are not compliant with surrender of citizenship tax requirements.

We have assisted hundreds of US Citizens and  Green Card Holders  with the surrender of their legal status. We can help you. EMAIL US HERE FOR MORE INFORMATION  Visit our website at www.taxmeless.com    We are US CPAs and Attorney with over 50 years combined experience in US Nonresident, International and Expatriate taxation.

US Nonresident Tax Consultations with US attorney available by skype, phone and email

A "MINI TAX CONSULTATION" IS NOW AVAILABLE with a US Attorney by Phone or Skype: If you have specific tax questions on your personal situation and need to discuss it with an US expatriate international tax expert, with the protection of  Attorney-Client privilege, you can request a "Mini Consultation."   "Mini Consultation" costs a minimum of $300 US for up to 30 minutes of Mr. Nelson's professional legal tax advice over the phone, skype or by  email from any where in the world.         

  No need to visit his office.  If  you send us an outline of your situation, facts and questions in advance, we prepare in advance and this time is extremely productive and usually resolves all of your questions  within the time allowed. Over 900 U.S. expat taxpayers located everywhere in the world  have used "Mini Consultations" to resolve their tax problems and issues.  US Phone (949) 480-1235. US Fax (949) 606-9627 or we can talk on my skype address dondnelson. Email:ddnelson@gmail.com   Payment can easily be made by credit card, or  paypal, or direct  bank transfer. If your questions or problems are URGENT let us know and we can often schedule it on the same day. Learn More About  How your Mini Consultation Works

If you wish to set up your US business and need help with the tax, and legal requirements, formation of a US corporation or LLC, etc we can help with all of this requirements.

Don Nelson, Attorney at Law has ever 30 years experience with US expatriate, international and nonresident taxation and representing taxpayers before the IRS.  He is also a partner in Kauffman Nelson LLP Certified Public Accountants.  Read more about his background and experience.

www.TaxMeLess.com

What Taxes Must be Paid In US When Nonresidents Sell Their US Property

The following is an excellent article from The Globe and Mail setting forth  what happens tax wise  with respect to US real property when a Nonresident alien sells their vacation home (and a lot of this applies if they sell a rental property). READ ARTICLE HERE

Contact us when you need to plan for US taxes on your sale or when you need to file returns to report the sale of your US property.  ddnelson@gmail.com

Want To Be Paul Manafort’s Cellmate?

By Don D Nelson, International Tax Attorney

One of the criminal charges against Paul Manafort involves his failure to report foreign bank
and financial accounts he controlled.  All such foreign accounts must be reported to the US
Treasury each year on form 114 (FBAR) if the combined highest balances in those accounts
are $10,000US or more.  Paul Manafort appears to have never filed that form and answered
the yes or no question on his tax return asking if he had foreign bank accounts “no.”

If you are like Manafort you too can spend five years in jail and pay a criminal fine of $500,000.
There are also civil fines that can go up to ½ of the balances you maintained in your foreign
bank and financial accounts.

There are several programs that will allow you to catch up with past unfiled foreign assets
reporting forms due the IRS which will reduce or eliminate your financial and criminal
exposure for failing to file the Form 114.  However, like Manafort, if the IRS for FBI discovers
your failure to file before you do try to catch up, you will be exposed to huge monetary penalties
and possible felony charges. Most foreign banks and financial institutions are reporting your
foreign balances to the IRS.  Best to take action now before you get to know Paul better.

----------------------------------------------------

Don D. Nelson, is a US tax attorney who has been assisting Americans in Mexico with their
taxes for over 25 years. He offers his clients the absolute privacy provided by
“Attorney client privilege.” His firm has assisted over a hundred expats in Mexico catch
up with their FBAR filings and regular returns   If you have questions or wish to meet with
him email him at ddnelson@gmail.com or his Los Cabos
phone number is 624 131 5228. US phone number 949-480-1235

WHEN IS A US NONRESIDENT ALIEN REQUIRED TO FILE A US INCOME TAX RETURN?

(Email us with your questions or for assitance at ddnelson@gmail.com)

If you are an alien (not a U.S. citizen), you are considered a nonresident alien unless you meet one of two tests. You are a resident alien of the United States for tax purposes if you meet either the green card test or the substantial presence test for the calendar year (January 1-December 31).

Certain rules exist for determining the Residency Starting and Ending Dates for aliens.

In some cases aliens are allowed to make elections which override the green card test and the substantial presence test, as follows:

• Nonresident Spouse Treated as a Resident
• Closer Connection To a Foreign Country
• Tax Treaties

You can be both a nonresident alien and a resident alien during the same tax year. This usually occurs in the year you arrive or depart from the United States. If so, you may elect to be treated as a Dual Status Alien for this taxable year and a Resident Alien for the next taxable year if you meet certain tests. (Refer to section "Dual-Status Aliens" – "First Year Choice" in Publication 519, U.S. Tax Guide for Aliens.)

A resident alien who is required to establish his/her U.S. residency for the purpose of claiming a tax treaty benefit with a foreign country should refer to Certification of U.S. Residency for Tax Treaty Purposes.

We are experts at filing tax returns and tax planning for resident and nonresident aliens. Email us at ddnelson@gmail.com with your questions. We can set up a phone or skype conference to  discuss your situation and put together a US tax plan.

Chose the Right Tax Free State to Locate can Reduce your Taxes Greatly

As a US Nonresident  when you decide where to locate your US business or to live temporarily in the United States, the state you chose to locate your business or live can save you substantial amounts of income taxes. Some states charge taxes up to 13% of your taxable income.  Others have no income taxes. Remember the US state income tax is paid on top of the US Federal taxes which can run up to 33 percent of your taxable income (21 percent for corporations).

The 6 best states to locate to avoid state income taxes include:

• Nevada
• Texas
• Florida
• Washington
• South Dakota
• Wyoming

We can help you chose the best state to in which to locate your business. We can  file for your corporation or LLC in the best tax free state. We are experts in US tax filing requirements for nonresidents and businessmen from other countries who want to locate a business in the USA. Email us at ddnelson@gmail.com to set up a consultation and learn more.

We offer Certified Public Accountant and Attorney services  associated firms  which results in lower fees to you and more efficient service.  Don D. Nelson, Attorney at Law and Kyle Lodder CPA

US Nonresidents- Where to open your US business to Save Taxes

If you are a US nonresident and want to start a business in the USA or establish a subsidiary in the US to operate your business, there are two important decisions you need to make:

1. What type of US entity to use..... a corporation or a Limited Liability Company. The tax consequences of these entities vary substantially and careful consideration of those tax consequences is need to make the right decision. There may also be legal consequences which need consideration.

2. Corporations and LLCs are chartered by one of the US 50 states. Picking the state to organize your LLC or Corporation and for it to operate its business can also have significant US tax consequences. There are 7 states which currently have no corporate income tax. Some states have taxes which can run up to 12 to 13 percent. This tax is in addition to the Federal tax the corporaton will owe the IRS.   The Seven U.S. states currently don't have an income tax are :Alaska, Florida, Nevada, South Dakota, Texas,Washington and Wyoming. 

We can help you form the US entity you need to operate your business and chose the best state operate your business for tax savings. Email us at ddnelson@gmail.com  or call our US phone number at 949-480-1235. Advance planning can save you a lot of taxes.