Selling US real estate and Korean real estate owned by citizens in this order saves taxes! Tax savin
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Hello, I'm John Cheong, an American lawyer/accountant. This video is about where and when it would be best to sell assets located in Korea and the United States for US citizens in terms of tax savings. It contains answers to frequently asked questions based on actual consultations. If you are a US citizen who is contemplating asset disposal, I hope you find it helpful. ????Reference video Foreign tax credit FTC: • Does it apply to me?⁉️ US permanent residents/citizens who make money in Korea, ✅This is how... US permanent residents/citizens' Korean income tax saving tips • US permanent residents/citizens can use income generated in Korea... US permanent residents/citizens' Korean asset sale/transfer tax saving tips: • Pay less tax this way! ????????US citizens, permanent residents' Korean assets... Tiebreaker Rule: • Tax saving tips to prevent tax bombs when disposing of Korean assets! What US permanent residents must know... ????Selling order for US citizens to reduce Korean/US assets taxes Video Timestamp 00:00 Start 00:29 1. Case of US citizen disposing of Korean assets 01:44 2. Case client's situation 02:30 3. Case client's concerns 02:52 4. Case client's asset status 03:54 5. Case client Case - Facts & Expected Scenario Introduction 04:32 5-1. Case Analysis 1. Based on Korean/US residents? 06:15 5-2. Case Analysis 2. What is the taxation for Korean/US residents? 07:04 5-3. Case Analysis 3. Foreign Tax Credit 08:04 6. Scenarios to consider in the Case? 09:16 6-1. Case/Scenario 1. Selling two properties while residing in the US 11:54 6-2. Case/Scenario 1. What is the conclusion if two properties are sold while residing in the US? 12:38 6-3. Case/Scenario 2. What taxes will apply if two properties are sold while residing in Korea? 15:13 6-4. Case/Scenario 2. What is the conclusion if two properties are sold while residing in Korea? 15:35 7. Summary of taxation according to the disposal location of each property 17:41 8. Which property in the US/Korea should I sell first and where? 17:58 9. What is the procedure for sending money to the US after selling Korean real estate? 18:59 10. What should I keep in mind when sending money after selling real estate? 20:54 11. Conclusion Thank you for watching until the end! Please take care of your health. Please refer to the video for more details. #US citizen #US tax #Korean US tax savings #ForeignTaxCredit #ForeignTaxCredit #US attorney #US accountant #JohnChung #JohnChung Contact :: US attorney/accountant JohnChung * Email: [email protected] * Blog: https://blog.naver.com/jclawcpa1110/2... * JC&Company homepage: https://jclawcpa.com/
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