I'm a not a US national and reside overseas but would like to be foolish (try trading in US stocks). How would one go about this? Is it possible and wise to do this online from overseas. Any help in this direction would be appreciatedjm
[[I'm a not a US national and reside overseas but would like to be foolish (try trading in US stocks). How would one go about this? Is it possible and wise to do this online from overseas. Any help in this direction would be appreciated]]As far as the tax issues that you would be facing, generally, as a non-resident and a non-citizen, you would pay US taxes (in the form of withholding) on interest and dividend income, but would owe NO US taxes on capital gains (either short term or long term).But it gets a bit more complicated that the simple answer above. For additional reading, check out the IRS web site and download/read IRS Publications519 and 901.TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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