Quote:
Originally Posted by Table 5
I have a few dry questions that i need to find out about, but don't really have an accountant at the moment, so hopefully some smart people on this forum could be of help.
1. I would like to transfer some money from my Canadian bank, money which was initially given to me by a family member as a gift. Is this something that will be taxed in the US if i bring it into the country? Or would the relative be the one taxed in Canada?
There is no Gift tax in Canada anymore, but there is in the States. It depends on where the money came from and went to.
2. I am considering buying some property in NY state...would I have to pay more property taxes because I am not an American citizen (I am a resident for tax purposes, but apaprently not a permanent resident). Remember, I live in the US.
Property taxes are property taxes, country of residence isnt usually a determining factor.
3. Is there an inheritance tax in the US?
Yes.
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Hope that helps a little.
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