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Video instructions and help with filling out and completing Can Form 8815 Taxable

Instructions and Help about Can Form 8815 Taxable

Hello Anthony we are here today to talk about non-us persons that are looking to become US persons or perhaps looking to live or invest here in the United States right there are some pretty significant tax code traps right there's a lot of opportunities in the United States but the IRS sets a lot of traps up and so here we thought it'd be a good idea to talk about the four biggest ones that we see people run into all the time if they don't get the proper advice be cut before investing in the US or becoming US person yep okay trap number one capital gains trap right this is a little bit hard to explain I'll try to slow it down and this is sort of the situation that we see a lot a lot of our clients do pretty well in life and there might have been a time in their life where they didn't have all that money but they did have a lot of company stock that might not have been worth all that money now those years go on 10 20 years they have stock that is worth a substantial amount of money and they become a US person now this is what happens the I the the tax code you know will attach you on your capital gain so we'll look to what you sold it for and what you acquired it for mm-hmm the way it is now is that will go to your date of acquisition before you are even subject to the US tax code so way back 10 20 years so if you don't get the proper tax advice basically what you're selling it for when you have a when you have an asset that appreciates substantially...

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