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Tax Advice For Indian Passport Holder/American Green Card Holder Moving To Ireland

  • 24-11-2009 11:55pm
    #1
    No 7
    Registered Users Posts: 28 ✭


    Hi,
    I am looking for a recommendation for a good tax adviser in the south Dublin area for my wife who has recently moved here from America who holds a green card and an Indian passport. She is a consultant and is on the road 75% of the time (international travel).
    In the future she may set up her own independent advisory firm that would carry out work in Ireland and internationally, so we would like to talk to someone that could help us with that also.

    Thank you in advance.


Comments

  • #2
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    Does she want Irish Tax advice, US Tax advice, or both?


  • #3
    No 7
    Registered Users Posts: 28 ✭No 7


    I think she will need advise on both Irish and American tax to establish which is the most tax efficient way to handle her income.


  • #4
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    This could be difficult to find.

    I do general international advice, specialising in Ireland and the UK, and although I am aware of and have worked on US taxes, I would not consider myself competent to advise on US Tax in detail. I can discuss US taxes in general.

    I don't know of anyone offering US tax advice in Ireland other than the Big firms, which can be expensive.

    I do know a firm in London (not one of the big firms, but a niche practice), so if you want their details let me know.

    If you do find out of anyone dealing with US taxes in Ireland, let me know, as I would love to get in touch with them myself.


  • #5
    No 7
    Registered Users Posts: 28 ✭No 7


    I will get my wife to give you a call when she gets a chance, your contact details are on taxingtimes.ie?


  • #6
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    Yes, contact detail on website.


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  • #7
    jonboy74
    Closed Accounts Posts: 10 ✭jonboy74


    If your wife has a US greencard, she is viewed as a US resident even if not residing in the US (or even if tax resident outside the US). As a result, any income she earns will need to be reported in the US (of course, with the benefit of foreign tax credits, as applicable). Keep that in mind when you are structuring the business.

    If your wife is going to set up a legal entity to do business with, she will also need to consider the US rules on how the foreign legal entity is treated. Some legal entity types are viewed as "disregarded" entities under the 301.7701 regulations, and as such your wife would be viewed as earning the income directly (and reportable in the US annually). If it is viewed as a "taxpaying" entity under these 301.7701 rules (i.e. viewed as a corporation from a US perspective), the entity itself would not need to file a US tax return (except to the extent your wife, presumably as an employee of this company, was performing services in the US).

    Having the greencard definitely complicates matters given the US tax system. If you do get advice from someone in Ireland for the US side, you will want to make sure they have in-depth experience in the US rules and don't simply assist normal American citizens in their normal US filing obligations, as this situation can be much more complex than that.

    Good luck.


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