by Antonio Rodriguez | Jul 6, 2024 | AEAT, Business, IRPF Spanish Tax Return, Modelo 720
Tax residents in Spain with income from the United States according to the AEAT Tax residence A natural person is fiscal resident in Spanish territory when any of the following circumstances occur: They have stayed longer than 183 days in Spanish territory over the...
by Antonio Rodriguez | Jul 6, 2024 | FATCA, FBAR, Finances, IRS - Internal Revenue Service, PFIC Form 8621
For US Citizens and Green Card holders who hold assets with foreign institutions, for whatever reason, the tax ramifications are an area of serious concern. The Internal Revenue Service (IRS) treats money held in foreign banks differently than money held in domestic...
by Antonio Rodriguez | Jul 5, 2024 | Financial Planning, PFIC Form 8621
Passive Foreign Investment Company (PFIC) A foreign entity/form of investment is a PFIC if it meets either the income or asset test described below. Income test. 75% or more of the corporation’s gross income for its taxable year is passive income (as defined in...
by Antonio Rodriguez | Jul 4, 2024 | Portugal, Spain
Navigating the complex world of tax regulations can be a daunting task for many individuals and businesses. This is where US Tax Consultants come in, offering their expertise to help clients optimize their tax strategies and ensure compliance with ever-changing laws....
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