Does anybody know if you have to pay US gift tax if you receive a cash gift from a foreign source?
138568
No, you are not going to pay taxes on that money.
728258
They getcha where they can. Both new and used or second hand items are taxable.\n\nPlaces I know where you might not pay tax is garage sales and e-Bay.
967130
It depends on how much money the person makes. People have to pay taxes on any assets or extra money they make. Some people who make a certain amount of money (under the max you can make) don't have to pay extra money and they just receive it.
949518
The non-citizen has U.S. source income and would have to file a non-resident 1040 topay tax on that income. The LLC might have a withholding requirement on the distributions. I would suggest that you check with a CPA who is familiar with this situation.
825441
If youare worried, do not send your item until the payment has cleared and you have cash in hand.\n\nIn the future you can restrict bidding to your country only.
72803
Taxes are usually based on the origin of sale. If you reside in the state the seller does business in, you can pretty much be guaranteed that you will pay a sales tax.
1144644
Yes, but it must be filed and it's a one time thing. You can only do this one time, any other gift will be taxed. You will also have to provide a "gift letter".
262704
There is, but i don't know if it applies for the whole country or only for the border zone. \n\nWhat I do, is go to an "exports boker" or something like that (most times they have locals in the shopping malls), and give him my receipts, so that he makes a pay order with my name in it, for the ammount of the sales tax. It usually takes an entire day for you to be able to get the money from that pay order.
778589
it doesnt matter where the money comes from if it is earned in the UK then you will be liable to UK tax. You would need to use an accountant to work out your tax liabilities due on any money earnt during the tax year.
583252
you can certainly bring anything to canada i think.\nit is a free country and its imigration laws are just like any country. if you're just bringing cds and flash drives of small quantity that can justify for personal use or maybe for gift or something there is nothing wrong with it. but if you bring boxes of it for sale and business purposes thats the only time you need to pay taxes for it.\n\nhope i answer your question. im not sure but i just visited US and its ok. im sure canada and US are basicly the same
1146827
No.\nThe US is particularly bad at managing transactions in anything other than dollars. The recipient at best will have to pay a large fee, if their bank is able to cope with it at all.\n\nGet a bank draft made out for them in dollars. Any high street bank in the UK will do this easily.
71152
"You cannot deduct the value of gifts you make (other than gifts that are deductible charitable contributions)".\n\nhttp://www.irs.gov/pub/irs-pdf/p950.pdf\n\nOn the other hand, you don't have to pay gift tax, because the gift tax exclusion is now $11,000 (or $22,000 for a married couple).\n\n"If you gave any one person gifts in 2005 that valued at more than $11,000, you must report the total gifts to the Internal Revenue Service and may have to pay tax on the gifts. "\n\nhttp://www.irs.gov/newsroom/article/0,,id=107815,00.html\n\n\np.s. Will you adopt me?  :-D
846080
A foreigner might be able to wiggle out of sales tax (a US citizen can do the same thing).  In some states (if not all states), a state can not collect sales tax on items that are meant to be used/consumed in another state.  The purchaser is "supposed" to pay the sales tax in their home state (look at the state Income Tax form..there usually is a line to pay sales tax on items that haven't been taxed...on a side note, if your state does this, remember a state can easily track credit card records to see your purchases if you are audited)\n\nFor example, when you order something over the internet, you do not get charged sales tax unless the company is in the same state as you are.  Also, if you buy a car in one state, you have to pay sales tax in your home state when you register the vehicle.\n\nProperty Tax on the other hand is taxed by the local municipality, so there really isn't any way for a foreigner to get around this tax.  If they don't pay, the local government would seize the property.  i suppose it is possible for a local government to offer an excemption for non-US citizens, but I haven't heard of one (the only property tax excemption I have heard is for senior citizens in Alaska...they are forgiven the first $250K of their homes value when property tax is calculated)
834608
The IRS does not tax the recipient of inheritance...ever.  There is a federal tax on the estate (the net value of all assets left behind by the deceased), but the amount taxed is reduced by:\n\n1) donations made to charity if stipulated in the will\n\n2) the first $2,000,000 (for 2006, this changes year-to-year)\n\n3) all amounts left to the spouse.\n\nSo if you are not married when your other dies, and if the amount of the estate is less than $2,000,000, and if your other never filed a form 709 "Gift Tax Return", there should be no estate taxes.
435315
If this is a regular business activity then you should apply for a resale certificate (basically a permit) which you can provide to your supplier so they don't charge you tax on the purchase. When you sell the item you would charge the buyer sales tax and remit the collected taxes to the state.\n\nIf this is a one shot deal then just pay the sales tax on the purchase and don't bother with any tax on the sale. You need a permit to collect and remit sales taxes.\n\nAlso, bear in mind that requirements for out of State or on-line transactions may vary as well.
13895
That would depend on the terms of the gift card, but in my experience, they charge you no tax when you purchase the gift card, but do charge tax for the itmes bought with it. So, for example, say sales tax where you are is 8%, you get a $20 gift card, you pay $20 for it, and the person who gets it can only spend $18.51, because the tax takes up the rest.
1037719
i would go to your local mall and get a visa gift card...it works just like a gift card but it is done through visa.  you tell them the amount you want to put on it and the receiver can use it anywhere visa is accepted, so you dont have to worry about picking the wrong place...i got one as a gift and i loved it!\n\nhere is the website with information about it, you can even purchase it online if youd like!\nhttp://usa.visa.com/personal/cards/prepaid/visa_gift_card.html