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Financial Planning / Tax Strategies


Subject:  Re: Cap Gains vs. Income tax Date:  10/18/1998  6:20 AM
Author:  cswee Number:  5832 of 127753

Several considerations on this one and you should check with your accountant.

US citizens and residents are taxed on world wide income although there is usually an agreement which you can use so as not to pay double tax. You need to ascertain your tax domicile. There are tests (e.g. physical presence, residency) which determine whether you can use foreign exclusions or foreign tax credits.

Even after all that you do not have a US tax liability, you should still file, especially if you are a resident alien temporarily away.

Hope this helps.
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