Beginning an immigration process can be expensive, in addition to the tax implications that go along with such a move. The United States of America taxes its citizens and residents on their entire worldwide income regardless of the source of that income.
Those individuals and families planning a move to the U.S. must understand that all their assets, income and estates must be declared to the IRS and will potentially be liable to U.S. taxation. Once a foreigner becomes a permanent resident of the U.S., all source of income that person generates, is subject to taxation.
Therefore, proper tax planning is strongly recommended and can protect and secure those valuable assets.
Our pre-immigration tax planning service focuses on the following:
- Scrutinizing your current situation (i.e. foreign bank accounts, foreign corporations, foreign partnerships, foreign gifts and bequests, foreign trusts, etc.)
- Selling or restructuring assets
- Establishing trusts to decrease taxation of assets
- Structuring ownership of certain assets
- Estate planning
The team at GBS Group can help you through the entire pre-immigration planning process by applying in-house strategies to avoid paying more than your fair share of U.S. taxes.We have developed strategic business associations with other outsourced experts that complement all in-house services helping us to offer you a group of turn-key solutions so you don’t have to worry about anything else.