Did you just receive your first paycheck as an immigrant in the US? If yes, your first American pay stub might look confusing to you. To help you get to know your pay stub and understand all the different deductions and words, here’s a guide.
On the surface, dual citizenship is a wonderful benefit. Dual citizenship is a benefit for most people, but it can also have financial consequences.
At one point, you might need to send funds to a friend or family member who is in another part of the world. You have several choices if you’re planning to send money abroad. Prices, convenience, and speed can vary greatly. We’ve distilled the Top 5 options for sending money abroad.
Applicants for permanent residence in the United States must show that they won’t be dependent on public resources in order to qualify for a green card. Do you know about the recent changes?
The Tax Cuts and Jobs Act (TCJA) led to major changes to the US tax law. You should be aware of tweaks that could affect your 2018 return.
As an H1B worker in the US, you can expect to pay between 20-40% of your wages in federal and state and local taxes, depending on your income level.
If you earn taxable income in the United States and abroad during the same year, your taxes can be complicated. When you have financial dealings in another country, you may be liable for paying income tax not just in the United States, but also to that foreign country. You may be eligible for the Foreign Tax Credit.
Here are 10 common tax-filing mistakes encountered by immigrants. As you prepare for tax season, take care to make sure you’ve avoided them!
If you’ve ever electronically transferred money to another person or business, you’re likely familiar with the term remittance. When you remit, you have several options. There are also things to watch out for!
One of the most common questions we are asked is about the tax implications of inheriting property or assets in/from a foreign country. Under most circumstances, you will not pay tax on the receipt of an inheritance from abroad - but you still may have to report it!
In general, it is not advisable to withdraw money early from your 401K. Some of our clients ask us if they should take an early distribution from their 401K when they move back to their home countries. The answer is still usually no because there are penalties and tax consequences of doing so. You can leave your 401K right where it is and benefit from it in retirement, wherever you are living in the world. However, in some cases, especially financial hardship or early retirement, an early withdrawal (or distribution) from your 401K may serve as a viable strategy.
Most non-citizens are eligible for social security benefits if they meet certain requirements. Here are the top five things you need to know.
Whether you are just beginning your education at a United States institution of higher learning or you’ve yet to decide, knowing your employment options in advance will help determine how long you can stay in the United States after graduation.
Investing in and starting companies while on an H1B visa is not prohibited but it can be challenging. There may be hurdles that you have to jump through and you have to be careful that your activities do not cross into “unauthorized work” and compromise your status.
While you are on an H1B visa, you can work only for your authorized employer specified on your I-129. However, there may be reasons that you want to generate additional income outside of your work. Most ways of generating additional income on an H1B visa are prohibited. However, there are a very few select ways that you can generate additional income outside of your H1B authorized job.
While on an H1B visa in the United States, you may want to volunteer your time to a nonprofit or community organization. You can volunteer your time unpaid for a nonprofit organization while you are on an H1B visa as long as the work you are doing would typically be performed by unpaid volunteers.
While you are working for a US employer on an H1B visa, you may be offered opportunities to take on additional work through another employer or entity, sometimes as a freelancer. Unfortunately, these types of work are almost always forbidden while on an H1B visa.