Spread over 3 continents, need tax advice

[annalee]

Hey all!

I am an Indian who moved to the USA on an F1 visa and worked there for a couple of years and presently in the Netherlands.

In 2023,

• I quit my job and moved out of the USA in Feb, (Earned 8k, 5k for accrued leaves, and have 100k net worth in stocks, savings, HSA, 401k, and crypto)
• Lived in India for 8 months, and (No earnings in 2023 nor own any assets)
• Moved to the Netherlands for work. (Earned 15k and 13th month from Sept to Dec)

What is my tax situation?

1. USA I have a tax consultant.
2. NL I hear I have to declare net worth and pay taxes on these even if I don't have gains. Really? Will I need a tax consultant?

Let me know your ideas, suggestions, things to look out for, etc.

 

[debshirl]

@annalee I'm also spread over 3 continents (US, EU, North East Asia) - I don't know how Indian taxes work Here's what I would do:
US: work with your CPA to file including your NL income which is easily covered by foreign income exclusion.
NL: get a tax preparer who understands how to file with US income. They will help you to understand US investments and moves that will trigger taxes there.
India: chat with a tax professional to understand if the duration of your stay created a tax residency. This could be something to watch out for in the future. See what needs to be done regarding your US investments in India.
It may be a tough year tax-wise.

 

[eee27]

@annalee

1. Lie down.
   
2. Try not to cry.
   
3. Cry a lot.
   
   https://i.kym-cdn.com/entries/icons/original/000/012/073/7686178464_fdc8ea66c7.jpg

Seriously though, I recommend trying to find a tax consultant -- or more, up to one per country -- who are at least passingly familiar with international taxation. Each country is going to have all kinds of rules that can make things complicated, or easy to overlook something important.