50 cool 50

back to my original question about selling a property abroad and wanting to bring the cash in.

I read somewhere there is a grace period for immigrants assymulating and bringing cash into the usa. I dont fully understand this law but maybe you can help me with it.

I actually wanted to sell this my home overseas around the time I was dating my now American wife in the united states and bring the cash in then and use it to set up a life in the USA with her, (and I would have had no taxes to pay the USA).

At the time we were filling out the immigrations application forms with our lawyer. My immigration lawyer advised against selling the property and bringing the money in because he felt there was always a chance uncle sam may not approve my permanent resident status and he felt that if the residency was not approved I would have no home to go back to overseas. Even when I was sent a green card it was with conditions pending review indefinately and we had to wait almost 18 months for the conditions to be lifted.

A month ago the restrictions were lifted off the card and my lawyer advised me it was now safe to go ahead and sell the home located overseas and bring the money in.

So the question is- is there a grace period for people like me trying to do the right thing. Can I bring money in without paying tax on it under these circumstances?

This is a gray area of the law so I would greatly appreciate everyones input here because I really want to do the right thing by my family.

thank you : )

No, he didn't earn it recently did he? He already had the money. He is just moving it, right? There is no tax to move cash to the US.

earned pre U.S.

just moving it

No, no one pays tax on money brought to the US. It is not earnings, it is his cash he already had.

Adam says he had another $20,000 to bring in but now he has recieved his conditional permananent residence card in the mail.

If he brings this money in, will that now show as earnings which he will pay tax on?

Hi everyone. I also have another question related to a similar topic.

My friend who is also an expat was talking to me about this last week over a pot of tea.

He says he brought $45,000 USD to the united states when he first arrived here on his tourist visa one year ago .

He married his US citizen wife and recently got his tempory conditional resident green card.

He has asked me does he have to pay taxes on that $45,000 now he has a ssn

Is there a grace law for this cash which was transferred in?

He read he may be exempt from taxes under Clinton offering visas for foreigners bringing investment cash to the USA?

aw ok great!!! thanks!

Dear Visa Journey -

thanks for a great forum

I have a question

I received my greecard and employment authorization card in May 2011.

I only just noticed now that the employment authorization card expired July 2011!!!

I am a self employed real estate agent for a living. I am wondering was I supposed to renew this card or what is the procedure??

i dont want to get in trouble

thanks for your advice

Barry

Back to the original question...

Thanks for the links to the articles.

From what i understand,

According to the article ;

" You are still eligible for a partial exclusion of capital gains if you sold because of a change in your employment, or because your doctor recommended the move for your health, or due to other unforeseen circumstances"

So my move to California to be with my wife would fall under these circumstances.

The tax break is $250,000 of the net profit for living there at least 2 years of the last 5, so in my case i lived in my apartment for 1 year.

under this article I am entitled to $125,000 tax relief. my profit in the apartment in about $80,000 so I am covered.

I am probably jumping the gun a little here, but please tell me is my thinking correct on this?

Thanks everyone for all your help so far

Aaron and Nick, than you both, that sounds spot on and the kind of intelligent answer I was looking for.

I do not want to get in trouble and I do not want to chance anything.

i think maybe my accountant has not had much experience with this kind of thing, and maybe I should get a new one!

While we are on the tax topic-

I have another related tax question to you both.

When I arrived in the USA 2008 I invested some of my Europe earned savings in a house in Las Vegas.(pre permanent resident on my 3 month visa waiver status) .

I paid $25,000 for it and spent $2,000 on renovations materials, then sold it this year for $29,000 (after becoming a permanent resident) .

Not a huge profit killing but my accountant suggested that this now shows as $29,000 profit on the books for tax purposes because I was not in the tax system when i bought the property?? Any thoughts or advice about this?

Would you happen to know is there a form I can file to show what I paid for the house and that kind of thing that I could take to my accountant.

thanks for your replies

B

Aaron and Nick, hanyou both, thats sounds spot on and the kind of intelligent answer I was looking for.

thanks for all the advice guys.

i think I have to talk to another accountant. I need to be sure because I don't think it is fare to pay taxes on earnings invested and realized pre USA dreams.

If i will get heavily taxed then I will just re invest in germany or somewhere else

I have done what you are talking about. If you bring the money into the US and you have paid the tax in Germany you will not have to pay taxes on it in the US. If you bring the cash in as I did, report it on the form on the airplane for customs. They will question you on it, tell them the truth. Then put it in the bank in one lump sum!!!! Very important, I have read many wrong answers on this site as to put the money in the bank in sums under $3000 so it will not be reported.WRONG!!!!!!!!!!!!!! If you do the bank will report you and that is called MONEY STRUCTERING it is illegal to put your money into a bank in this fashion. The IRS thinks you are trying to hide something and they will take you to court if you put it piece mill into the bank. What you are doing is fine and legal just put it all in the bank at one time. Then use it to pay for a new house or what ever. NO TAXES are due the Americans as you have already paid the Germans. I know this for a fact as I have also brought a large sum of money in from Germany that the taxes had been paid. It was in cash and I was questioned at the Airport by customs. Everything was fine no taxes due the US.

thanks for all the replys!

I will have it wired from my german account to my USA bank account. The wire will be for $240,000 to 250,000 USD.

So do I just do the wire and say nothing about it in my 2013 taxes in April?

just out of curiosity, if i became a citizen and did this, would i have to pay taxes on it then?

Hi everyone

Thanks for a wonderful forum.

my question is quite self explanatory.

I am a permanent resident in California for 3 years.

I have a green card and social security number etc.

I pay my taxes, me and my wife file jointly each year.

I have an apartment in Berlin that is in the process of being sold. i have owned it for 7 years and bought it before I came to the US.

I want to transfer $240,000 USD from Germany when the sale is complete and use the money towards a house for my family in the USA.

I have and will be paying German capitol gains tax on the money before it leaves Germany.

Will I have to pay a second US tax on this money in the USA when it arrives?

If so how much?

I spoke to my accountant who said 'no because it is money that was made before i came to the US'.

I spoke to my lawyer who said 'yes I will have to pay tax'.

If I have to pay the secondary tax then its quite off putting and i will just buy more property in germany and forget the idea.

Has anyone ever been in a similar situation?

thank you everyone for your answers and understanding

Barry

Hi peeps

I am about to file my I-130 together with my i-485 and i-765

I came to the USA on a I94 ,

and we got held up receiving my wifes pay slips from her employer and now the I-94 is just expired :0(

to add to all this excitement, I now have to fly to Singapore November 1st for some business and i thinking of filing I-131 in the package when i send it off.

2 questions:

1. can i file the i-131 in the package if my I94 has expired?

2. If i can file the I-131 does the i-765 fee waiver still apply for filing all these forms in a complete package?

looking forward to your input on this connundrum

Was looking for some up to date information

Just putting together my I130 package here and was wondering in your oppinion is it faster to file I-130 and I-485 together from the start ?

or should i just send off the I-130 solo to get the ball rolling?

also i read somewhere that if you a spouse and parent of us citizen it may be possibel to get I-485 fee waived?

thanks everyone for you advice

just wondering what searches the us immigration do on a subject who is applying for green card in the us?

as a point of data protection and security

Technically no but US Citizenship is purely optional. You can be a legal permanent resident "permanently". The advantages of citizenship are voting and exemption from deportation for criminal activity. The Irish have pretty much the same worldwide travel privileges as a US Citizen particularly if they have green cards.

thanks!!

hi guys

thanks for a great forum

heres my question for anyone that might know..

Do you have to give up your Irish citizenship to become a USA citizen ?

sorry naturalised

Hi Guys.

First off happy new year to everyone and i wish everyone good luck in establishing a new life in the USA

here is my predicament, i really need some good advice from you guys

I have overstayed / been in the USA illegally for just over a year.

I did not origionally come to the USA to persue the dream or anything. I just came here on holiday and ended up staying.

I met a girl

I am in a good relationship with my girlfriend. I like the relationship the way it is.

My girlfriend (who is a from the USA) gave birth to our daughter a couple of months ago.

Since i have been here i have been investing some of my money from back home, buying investment property, and such.

I am an investor or sorts and have a healthy portfolio of assets that I have worked really hard for most of my life.

My girlfriend wants to get married to me. We are very fond of one another.

I dont want to marry her because I feel that she will always have doubts about why i married her- did i just do it to get a greencard??

I dont think this is fair on her, and i am a genuine guy and i would never want her to ever have any doubts about that stuff.

Next I dont want to marry her because I like our relationship the way it is. i see so many people getting married and it changing how they feel about each other a few months later. Married people always seem to end up hating each other. I dont want this to happen to us.

The other thing is my girlfriend is from California. The place where divorce / divorce courts / prenuptials / were invented. I have these nightmares of her dragging me through a divorce court and taking all my assets in a few years time. She says she would never do that but with familiarity over time can come several new thought processes so i just want to avoid any situation like that in the future. I dont belive in prenuptuals are worth the paper they are written on.

Having said all that, i would love to go back to the UK and see my family and eat some fish and chips if only for a few days.

I am getting depressed with feeling that i can never leave. if i leave in my present status i will be band from the states and not be able to see my daughter for 10 years.

My situation really is depressing me because I like my freedoms and now I am in a situation where I am an tarred an illegal immigrant and have little freedoms and I dont want to get forced into a unhappy marriage or bad situation just to satisfy an immigration officer. I am sorry. I wont do it.

So am I stuck in Limbo forever?

Is there any other route?

such as being a parent of a USA citizen / or as an investor / or what about if i set up a charity or started a new religion???

advice much appreciated guys

i agree with you. i just hope they are not pokig around into visas ect.

Thanks for the reply

Can i fly there with my irish driving licence then because i dont want to show my passport with the expired visa attatched?

Hi guys.

i am an Irish national. i came to the USA on the vwp and met my girl here.

we fell in love and we are expecting a baby now. We are very much in love.

We got married recently and we sent off our forms to apply for the K1 visa ect.

As of yet we have not heard anything back.

We would like to go for a short break in Hawaii for a few days.

is hawaii airport like the other cities airports of america for entry ?

Or will i get in trouble ?

Is it better to stay putt

thanks for your input on this

thanks guys for all your help.!!

My head is somewhat clearer now and the confidence is returning!

i notice that most couples on here have been through this,

i hope sometime I can do the same!

god Bless

50

Again,

It would be on your side of the court to PROVE you did not have intention to immigrate -- but by asking the questions here, before getting married; intention to stay is obvious. If you do not prove lack of intent, you will be indeed denied Adjustment of Status and possibly deported.

All of VJ couples -with a few exceptions- have been separated for months or even years. Welcome to the club.

Well we did not expect a child. It just happened and now i need to support my family so would that be O.K?

i had no intention of wanting to live in the U.S.a but now my circumstances have changed i need to work here in the U.S. to support my new family.

and anyway, does the U.S.C.I.s surf this site and use it as evidence when considering your case or something?

It has nothing to do with your intent now you are here. It has to do with your intent on entry to the US. If when you entered the US on your VWP you had no intention of remaining in the US and filing for AOS then the law allows you to file a I-130 and I-485 and adjust your status to LPR. You can not leave the US until your AOS has been approved and you have the Greencard in your hand.

There is a step by step guide here on VJ http://www.visajourney.com/forums/index.ph...page=i130guide2 Have a good read of the guide and all the forms you will need to download as you will need to get things like your birth certificate sent over from the UK.

It is also a good idea to have a meeting with a immigration lawyer to go over your case and make sure there is nothing about your case that will be an issue when doing AOS.

Try to make sure that you are married before your I-94w expires and apply for your AOS as soon as you can. Once you have filed the AOS and the I-130 you will not be here illegally your status will be Adjustment Pending and you are allowed to remain in the US until your AOS is decided. Make sure you file for the EAD along with the AOS it is included in the price, so that once it is approved (about 90 days or so) you will be able to get a SSN and work.

Hope this helps

Exactly. Your description is a classic example of somebody who came for a visit and while here decided to marry and stay. You have tangible reasons for doing so that can be documented. I'd get married and start the AOS process without delay including applying for work authorization. Start with the GUIDE here...

http://www.visajourney.com/forums/index.ph...page=i130guide2

Thanks so much to everyone thats contributed so far.

i have something to admit to you all. in the orgional posting i wrote that i already knew my girlfriend becasue i was embarrassed that we had fallen in love too quickly. But as it happens i met her in the first week i arrived as a tourist in the states and we have been inseperable ever since and now ( 1 week before my VWP expires she is pregnant) sometimes fate deals a strange hand.

We still want to have a nice decent planned wedding ina couple of months so is that doable if a stay, or do we need to get married before we start the ball rolling on the papaerwork?

Also one last thing. whebn i entered the states as a tourist, i did not have an exit ticket in hand. The immigration entry post guy, picked up on it, took me to an office, and questioned me on my intent, saw i am genuine then they happilly issued the VWP. They asked why i had not booked my return ticket. i told them what happened: On the airlingus website, it was not booking ahead 3 months due to the economy problems and fluctuation in oil prices. So i could not purchase an outward bound ticket. Is this going to go against me do you think if do the overstay thing?

Guys, thanks so much !!

Again,

It would be on your side of the court to PROVE you did not have intention to immigrate -- but by asking the questions here, before getting married; intention to stay is obvious. If you do not prove lack of intent, you will be indeed denied Adjustment of Status and possibly deported.

All of VJ couples -with a few exceptions- have been separated for months or even years. Welcome to the club.

Well we did not expect a child. It just happened and now i need to support my family so would that be O.K?

i had no intention of wanting to live in the U.S.a but now my circumstances have changed i need to work here in the U.S. to support my new family.

and anyway, does the U.S.C.I.s surf this site and use it as evidence when considering your case or something?