Since 1983, The Wolf Group, PC has assisted thousands of employees and retirees of international organizations in navigating their complex tax compliance requirements and achieving their financial goals. Our firm was built around providing tax support for international organization employees and retirees. Serving the international organization community is who we are. It is what every member of our tax team does. We are a specialty U.S. CPA firm focused on serving individuals and privately held businesses with complicated international tax matters. We work regularly with U.S. citizens, green card holders, and G-4 visa holders with ties to the World Bank, IMF, IDB, OAS, NATO, United Nations, and various other international organizations. Our RU-vid channel aims to educate and inform our clients, prospective clients, and the general public on topics related to international tax.
Thanks for the breakdown! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
I highly recommend NOT moving to Puerto Rico for the Act60 tax benefits. There’s a ton of controversy surrounding them, and they are getting very strict with the rules to be eligible to be on Act60. Local Puerto Ricans hate it because its causing gentrification to the island with Non-Puerto Rican Americans moving in with no relation to the island and with more buying power buying up entire neighborhoods, public areas, and historical heritage sites then going on to turn them all into private resorts, vacation homes, and Airbnb businesses. Because of all this a movement called the GringoGoHome movement has been growing big time and there have been many protests throughout the island to have Act60 removed. Also, many financial gurus and economists have said that Puerto Ricos Act60 is very likely to be taken down in the near future because its actually doing more harm to both Puerto Rico and the US economies. Channels like the Wealthy Expat and Nomad Capitalist have talked about it multiple times and explain why it’s a no go, and there’s better and safer places to move than to a US territory to follow a bunch of strict rules just so you can get away with paying little taxes. Congress has been demanding the Puerto Rican government take down Act60 because it’s losing the US billions of tax dollars and many people who are on Act60 are using it as a tax loophole to cheat paying taxes on the island by pretending to live there. Already over 100 people have been caught and arrested, and many more are under investigation by the IRS. The only reason Act60 is still up is because the current corrupt governor Pedro Pierluisi and his party are using it as leverage to pressure congress to make the island the 51st state. And they are open about this plan, when congress ordered them to take it down, Pierluisi said he’ll only do it if they make the island a state first. This year is the elections on the island and their party has been losing a ton of support because of all the corruption being exposed, and all the other parties are forming an alliance against them. If their party loses the governorship and they don’t get the majority in both house legislatures, then definitely Act60 is dead. All in all, I’m not saying Puerto Rico sucks, I just don’t recommend moving your entire life there just because you want to pay less taxes, when there’s a ton of issues going on in the island.
Hi, thx for sharing. Just a quick question. If both the married couples (sellers) are non residents, only one form 8288 is filed but two separate 8288-As for each seller (50% withholding each) are attached with the 8288, right?
If I don't want to go for any exemption or certificate (8288-B). Should I fill the 8288 and 8288-A form? The Title insurance company is asking me (seller) to fill it and send to them.
Can you please direct me to an official document where it mentions that G4 visa holders are subject to tax on worldwide capital gains? What I have read so far only mentions 30% tax rate on capital gains from US sources. Thank you.
I cant agree more with Ken that Governments are mainly urban centered and therefore ultimately neglecting the rural and poor population who happen to be the majority, C-Quest Capital is already working in my home country (Kenya) and the feedback from the beneficiaries is just amazing. The idea of the improved cookstoves is a game changer from three different angles i.e Improved health, economic & safety around the kitchen area. Thanks Ken for this noble idea.
Capital gains on just securities? Sale of personal property in the foreign country of residence? Sale of primary residential property in the foreign country of residence (very common I'd imagine)?
If I live outside the US for 330+ days, but my source of income is from a business based in the US, would I still qualify for this exclusion? Thank you.
FROM IRS: For example, income you receive for work done in France is income from a foreign source even if the income is paid directly to your bank account in the United States and your employer is in New York City.
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I don’t get it. So if my mom got my grandpa’s inheritance (2million) if she sent me 100k or more to my bank account do I need to file this before or after receiving? Or is this only when I’m filing my taxes? Very confused on this because I don’t want to get penalized
Hello, great video! I will be receiving a sum of greater than 100,000 in gifts from people who are not related. The gift amount from each person will be less than 100,000. Am I still mandated to file the form?
Under IRC 6039F, if a US taxpayer receives gifts or inheritance from non-US persons in the aggregate of $100,000 (USD) or more then they are required to report the gifts or inheritance on IRS Form 3520, Part IV. The question does not specify if the non-related individuals are non-US persons but if they are non-US persons then it would appear that the aggregate amount is $100,000 which would require reporting on Form 3520.
