Monday, December 12, 2011

What type of taxes do i pay on a large amount of money that i transfer into my bank acct from another country?

I am about to get an inheritance in US funds transferred from out of country and want to know how to avoid big governmental fee's.|||They should deduct all the taxes in country it's coming from. My Friend sold condo in another country and pd all the taxes over there not here.|||If this is an inheritance of money or equities, then you will pay no tax. If however the proceeds are from the sale of real property abroad, you may have to pay tax - you should consult a tax accountant.

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