This is your source for innovative international tax and wealth planning information, without the jargon or legalese. We aim to provide informative, relevant, and helpful videos that get right to the point.
Esquire Group is a boutique international tax and wealth planning firm serving individuals and businesses from around the world.
Our four main service offerings include:
●\tPrivate Client Advisory ●\tCorporate Services ●\tUS International Tax Preparation
We specialize in advising multinational clients - individuals and their families who typically have assets, citizenships, and residencies in multiple countries. Many also own businesses with operations in multiple countries.
We understand the technical and practical considerations that being multinational brings. Multinationalism is at our core.
Hey Jimmy, love your videos on trusts in the UAE! I'm fully sold on their value, but I have a question: If I want to get a golden visa from property investment, will the government allow it if the property is owned by the trust/foundation and not me personally if I am the trustee and/or beneficiary? Would all beneficiaries be eligible for golden visa? This is my main hurdle in setting this up in the UAE.
Thanks! I appreciate the compliment. No, you wouldn't qualify for the golden visa if the property were owned through a trust or foundation as far as I know. Depending on your situation, often the trust outweighs the benefits of the golden visa. And, there are other ways to get golden visas. It would be helpful to understand your situation better to be able to determine what the best solutions is. Shoot an email to info@esquiregroup.com and let's have a quick intro call to discuss.
Which is better to invest from Australia for PR visa NDQ for NASDAQ100 with 0.48% management fee or QQQM US etf with 0.15% management fee. I am worried about the US estate tax when investing on QQQM - US etf. Please suggest which one to choose? thanks in advance
Thanks for the explanation Jimmy. Quick question, the benefits (non taxable income in the US) of investing/trading in the US markets as a non-US person (W8-BEN) are gone if a non-US person decides to create a Trus right? Because will have to report and pay taxes on US source Income. Thanks!
Jimmy, good information but hard to get your team to reply when one sends an enquiry. Sent email sometime ago with your team coming back initially but not corresponding on the reply for almost a week.
Sorry to hear that. I am in the process of adding another client relations person to ensure this doesn't happen in the future. Please email info@esquiregroup.com
Thanks for the helpful content! Just to reconfirm, since I am a non resident alien I do not have to file taxes every year right? My brokerage firm is witholding 30% tax on my dividends. For the last 8 years I have not been filing taxes but have been buying and selling stocks. Recently found out that I should be filing the 1040-NR form but your video says I am not required to file taxes. Would really appreciate it if you could clarify that for me!
I can help give you advice on where to set up your company in the UAE, UAE corporate income tax, how to best structure from a US tax perspective, and US compliance requirements. To get my advice, please email us at info@esquiregroup.com to set up a consultation. Thanks!
Jimmy, Could you please let me know, if a team Accountant in a US company temporarily travs to a US traty country, and works for 3 months. Is this a PE risk? ( only be working for 3 months, and only be working as an accountant for the US company) please let me know?
Depends on the treaty and other facts and circumstances. To give a definite answer, I would need more info. Please email us at info@esquiregroup.com to schedule a consultation with me so I can get the necessary details to answer your question.
Why is this Form 1042 S so complicated that TurboTax can't integrate it into their program???? I have a relatively simple problem - my wife, a German citizen, worked 20 years ago in the US and got an IRA. Now the Mutual Fund company (Vanguard) is sending me the 1042S to report what is essentially a RMD. I want to file this to get the withheld money back from the IRS. TT won't take it as an RMD and some TT community members say to report it as Wages & Income/All Income/Less Common income/Miscellaneous Income/Other reportable income/ but I can't find this on TT. Anybody got any ideas?
If you have a US C Corp that is owned by a Foreign Company, and the US C Corp sells property that it has an interest in, doesn't the US C Corp still have to pay the corporate tax rate of 21% on the gain?
Not sure where you moved from or your citizenship or where your pension is or which country you asking about taxing your pension. Best would be to set up a consultation with me so I can get the necessary details and answer your question. Please email us info@esquiregroup.com to set up a consultation with me.
1:35 I am an international student (F1 visa holder) and have been here in the US for more than 183 days. Would that mean that I am subject to being taxed as a US Citizen?
Generally people on student visas are exempted from being treated as US persons for tax purposes, but it is facts dependent. If you would like to get definitive advice on the matter, please set up a consultation with me emailing info@esquiregroup.com.
It is. Free zone companies are not subject to tax on income from stocks and other securities, so no UAE corporate income tax would apply to dividends and capital gains from US stocks.
As a nonresident Alien myself I find it extremely difficult to get accepted to use platforms to trade (futures, options, forex) because they continue to say that I need to provide citizenship in at least one country. Wondering how I can explain how this is not needed
Sir i want to close my llc permanently. Sir please tell me (BOI) is mandatory for me to submit (BOI) before closing llc permanently or not. Sir i am from India and i am a owner of a non usa resident llc in the State of NH. Sir please tell me what to do.
Hello Sir. If I’m an individual that let’s say wants to buy items from freezone(like an iPhone/Samsung) am I allowed to do so? Do I need any documents for that?
What if you direct a company and live in 3 different countries during the year in which you are directing it? Does the country that you spend the most time in have the strongest PE claim? Or perhaps the country in wich you generate the most profit? Or perhaps none because you spend such little time in each?
This is a very complex question that isn't easy to answer. My video is based on a discussion of PE rules generally. Each country has its own rules regarding what is and what is not a PE. We would need to check the rules in each of the countries in which you spend time to be able to make this determination.
A BVI company could certainly act as a US estate tax blocker but won't lower withholding on dividends as there is no tax treaty between the BVI and US. Dividend withholding would be 30%.
Let's see, there are substance problems under the current UAE laws even for a holding company. That is before issues of Controlled Foreign Corporation laws, the FATF- greylist and all of those problems are brought into focus, not the least of which is management and control rules in home country, or tax rates in those countries on corporate income ie dividends earned by the company, the potential loss of tax treaty benefits that say a Spanish owner would have with the US, that the UAE company would not.
I am certainly not saying that a UAE company is the right answer for every person anywhere in the world but it is the right solution for many. Also remember that not every country has a treaty with the US, CFCs, etc. so people resident in such countries, those aren't part of the analysis.
Great video. Hi, I deposited in my US LLC bank account 2500 dollars. Didn't do any business sales or purchases. Now in 5472 asset blank should I enter 2500 dollars. And is this a reportable transaction
Thank you for your question. Please schedule a consultation with me to get an answer to your question. You can set up a consultation by emailing us at info@esquiregroup.om
Hi, I am a Canadian. I sold all my US PTP shares in 2023. I have just learned from my broker that I have to file non-resident US tax return. What forms do I have to file ? Thanks for the video.
thanks man for this really informative video i wanna if it is necessary to grow and work on this company of it is just an investement to get residence permit
great video, thanks for this. What about having the LLC and running a Saas product under the LLC. If the Saas has US customers, does that mean I have to pay tax for those customers?
Not necessarily but the analysis must consider many factors. I'd welcome the opportunity to help you figure this out. Please email us at info@esquiregroup.com to set up a consultation.
Hi there :) Quick question: This year, I sent about $38k from my own (savings) account in the US to my own account in Europe. I hope this is not considered as a trust?? (its just a checking/savings account in Europe in my name with no interest) So basically, I have just moved my own savings to my own account in Europe. I'm gonna do my FBAR in 2024, but my question is: I don't need to report this transaction that I sent my own money to myself, right? Thanks.
Based on the info you provided, I don't believe this should be treated as a trust. However, I would need more info to say definitively. Also, it sounds like the only thing you need to do is report the funds in European account on your FBAR and Form 8938. But again, without more info about the transaction, I can't definitively what your reporting requirements are. If you'd like a more solid answer, please set up a consultation with me by emailing us at info@esquiregroup.com. Thanks!
@@esquiregroup thanks for you answer. Yes, I will report my FBAR, because I exceed $10k, but why should I report Form 8938 (FATCA) if I don't even have $40k in total in my European (foreign) bank? Isn't reporting threshold for FATCA (form 8938) $50.000 USD, right? I have never even reached $40k. I will not exceed $50.000 USD for sure at any point. The amount of money in foreign bank will just go down, not up :)
I'm in Australia and my question is in relation to selling a PTP (which was purchased by my company) There is 10% a withholding for selling a PTP as it's an Australian company (I understand that) Australia has a free trade agreement with the US, which would mean the 10% withheld would be a tax credit. Would I use that withheld 10% for my Australian company tax return? or would I also still need to file a K-1 tax form (for my company)?
Thank you for your question. I would need a bit more info to be able to answer your question. I would be happy to assist. Please email us at info@esquiregroup.com to set up a consultation with me.
To answer this question I would need more information and would likely need to do a bit of research. I would be happy to assist. Please email us at info@esquiregroup.com to set up a consultation with me.
Can I have an LLC that operates in the United States with a 21% tax (real estate) and, at the same time, does business in the stock exchange with a 0% tax (because it is considered a non-U.S. business)?
The only way an LLC would pay tax at 21% is if it has elected to be taxed as a corporation, in which case all income from any source would be taxed at 21%.
Only US source income of the US LLC would be subject to tax. If the income is non-US source then there is no limit how much can be earned tax-free. That said, the rules as to what is and what is not US source income are complex. To say for certain how the income of your LLC would be taxed, I would need more info. The best way for me to advise you is for you to set up a consultation with me. You can do so by emailing us at info@esquiregroup.com. Thanks!
lets say im in india and i opened a LLC in US just for document that i have a company in US. So what is the payable tax for me as im still live in india and doing my company work without going to US.
Assuming you are providing services from India with no US premises or personnel, there should be no US tax. That said, I can't say definitively without knowing more. The best way to get answers to your questions is to set up a consultation with me. You can do so by emailing us at info@esquiregroup.com.
Thanks for the info!! I understand that non residents are subject to state taxes for stocks. However, the only scenario I have heard of this applying is when the owner dies and stocks want to be claimed by others. Are there any other scenarios for states taxes applying for stocks?
