Yuanyang Posted April 16, 2005 Report Share Posted April 16, 2005 Will my wife have to pay any taxes when she enters the USA? (I'm not talking about afterwards when she works. I'm asking about transferring monies into the US banks from the Chinese banks.) Link to comment
BuffaloPaul Posted April 16, 2005 Report Share Posted April 16, 2005 Good question. My SO has a home she will sell worth a good deal of money. Not sure how to get it here (some "businessman" has offered to transfer it to our US bank account) but wondering if the IRS will see this as a bonanza Link to comment
Dan R Posted April 16, 2005 Report Share Posted April 16, 2005 Unless the limit has been raised the most you can send before being reported for taxes is $10,000 If there is much funds in China I would either invest in Chinese real estate or buy goods that can be sold here at a good profit. Be sure to have invoices for the goods and shipping to use as business expense or the total sales could be taxed. Link to comment
frank1538 Posted April 16, 2005 Report Share Posted April 16, 2005 Unless the limit has been raised the most you can send before being reported for taxes is $10,000Cash transfers in excess of $10,000 may be reportable, but I didn't think they were taxed. Link to comment
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