U.S. Basis of Taxation

U.S. Basis of Taxation

 

Similar to Canadian Taxation System, the United States taxes residents on worldwide income and non-residents only on U.S. source income. However, the residency determination between Canada and the U.S. is completely different.

Under the U.S. Tax Law, there are following types of individual taxpayers.

  • A U.S. Citizen or green card holder – An person who is a U.S. Citizen or green card holder is considered to be a resident for tax purposes regardless of whether he or she is not actually residing in the United States. 
  • Foreign Alien – Depending on the facts and circumstances, a foreign national will either be a non-resident alien, dual status or full year resident alien.

 

 

Spread the Word!

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Share on whatsapp
WhatsApp

Leave a Reply

Scroll to Top