Narinder Sawhney
1 Answer
Jack Large
When one pays taxes in a foreign county the amount of taxes paid there are a deduction from there adjusted income in the US.
That is how Toyota and the other Japanese companies avoid paying any US Corporate Income Taxes in the US.
The Japanese government then returns the money to those corporation's for Research and Development. I would point out the long term term Capital Gains tax, like paid on a property is currently only 5%, in the US but as part of the so called "Affordable Health care Law," the we know as "Obama-care," the long g term capital, gains tax is going up 150% to 15% in 2013.
In 2014 it goes up to 30%!!!
If i were you I would consult a Tax Attorney before I sold the property
| 6 years ago. Rating: 0 | |
