If you're a TN Visa holder working in the US, you might be wondering about your resident alien status for tax purposes. Let's break it down for you in simple terms.
TN Visa resident alien status determines whether you're considered a resident or non-resident alien for tax purposes. It's crucial because it affects your tax liabilities in the US.
Well, it's all about meeting the Substantial Presence test. Basically, if you spend a certain number of days in the US over a three-year period, you might be considered a resident alien. But don't worry, there's a bit of math involved, and tax professionals can help you figure it out.
Absolutely. Depending on how long you stay in the US, your status might shift from non-resident to resident alien, or vice versa. It's all about meeting those presence requirements.
Because your tax obligations vary depending on your status. Resident aliens have different filing requirements, tax rates, and eligibility for credits compared to non-resident aliens. So, getting it right is pretty important.
Feeling a bit overwhelmed? Don't worry, you're not alone. Tax matters can be tricky, especially when you're dealing with immigration status too. That's why it's a good idea to seek professional guidance.
Jacob Sapochnick