C
clon
Guest
Re: Definition of Ordinary Resident.
I plan to retire to a condo we have in Florida, and seek the status of resident alien for tax purposes. I will spend more than 183 days there to qualify. My pension is Irish sourced: company defined benefit, state pension, and avc. If I am still ordinarily resident for three years in Ireland, can I elect to be resident in the US, and pay Us taxes only their from year one? The double tax treaty allows for the taxation in one country I believe of your pension once resident for tax.
There are severe capital taxes in the USA on non resident aliens ( Estate, and Gains), which would be cleared if resident status were achieved, and I would plan to invest the avc in US Muni bonds which are free of Federal Income Tax ( and the Alternative Minimum Tax in many cases) and Florida has no Income Tax, so about half my total income could be free of income tax, and a lot of the rest at 15%. Do you think revenue would allow this to happen once the ARF were maintained?
I know these seem like two separate qustions but any help would be appreciated
I plan to retire to a condo we have in Florida, and seek the status of resident alien for tax purposes. I will spend more than 183 days there to qualify. My pension is Irish sourced: company defined benefit, state pension, and avc. If I am still ordinarily resident for three years in Ireland, can I elect to be resident in the US, and pay Us taxes only their from year one? The double tax treaty allows for the taxation in one country I believe of your pension once resident for tax.
There are severe capital taxes in the USA on non resident aliens ( Estate, and Gains), which would be cleared if resident status were achieved, and I would plan to invest the avc in US Muni bonds which are free of Federal Income Tax ( and the Alternative Minimum Tax in many cases) and Florida has no Income Tax, so about half my total income could be free of income tax, and a lot of the rest at 15%. Do you think revenue would allow this to happen once the ARF were maintained?
I know these seem like two separate qustions but any help would be appreciated