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@stevynhydex I would look into the tax consequences of doing this from the German perspective. Also this likely falls under German Controlled Foreign Corporation rules

@mrsgrass Open an Interactive Brokerages account and put the house money in there. Normally I'd say to buy some kind of bond index fund like VBIPX but that might not be the best option at the moment, talk to a financial advisor. Once you want to buy the house, sell the shares then use IBKR to...

@batgirl0078 afaik if you are on temporary assignment you will continue to be a CA state resident regardless of what you do, the only way to stop paying CA taxes is if you permanently leave - yes this sucks, but this is how CA works :-/

@goodchristianguy This won't matter in the short term, wise works fine (though accepting transfers can sometimes be delayed for a day or two vs other banks). Some people will try to demand you have an NL bank account, inform them that this is illegal - https://www.acceptmyiban.org/ Don't try to...

@podo89 They're US-exclusive because selling people's financial information is extremely illegal in every other sane country

@pausendream Since a UK LLP and a US LLC are so similar, I very much suspect that they'll be treated the same i.e. passthrough

@littlequietsoul Are you sure that's how it works? I'm 90%+ sure in that scenario the $10k that he pays to the UK will count as a foreign tax credit on your US return and make your US tax debt to be $0. As to trying to "shelter" the money in the US, I'm 95%+ sure that doesn't work either. The...

@naijaboy17 I think you're describing the FEIE. You can definitely apply the FTC to US sourced gains, as long as you paid non-US taxes on it, though you should ask an accountant to be sure.

@naijaboy17 This sounds like quid-pro-quo aka most likely viewed by the IRS as the same as you simply withdrawing the money yourself should they find out (though tbh in reality it seems like it would be unlikely that they would). Not a good plan. I believe in this case your kids would only...

@tatenda Yes this is totally legal and expected that this is what you would do, the IRS will not be upset about this Correct

@alcazar What in the world are you talking about.