I'll be moving back to India in the beginning of next year. Is there anything out of the ordinary I should do or know wrt taxes and other financial holdings here? IRS talks about obtaining a "sailing or departure permit" for aliens before leaving US. Has anyone done this? Any idea on how long it takes to get this done or if this is even necessary? #taxes #moving #IRS #finance Edit: not a US citizen or GC holder
if u r gc holder, sorry to say that u need to pay tax until it expires. in case not, also it better to leave by dec 31, to avoid being a US resident next year
Residency calculated by majority presence not by whether the person was in US in that year.
thats true. so by leaving us on jan 2nd coz u to be definitely US resident that year. assume u lived full year in previous year
All earnings in India will be taxed here, enjoy
Dint you have a tax briefing from Cisco? I'm moving to India too and I had to have a mandatory tax briefing for both US and India where consultants from Ernst and Young have a meeting and explain various tax implications.
I'm not transferring via global relocation. So no, I didn't have that meeting. Do you happen to have any links that I can go through? Will send you a DM
May I ask reason for moving to India ?
Your answer --> https://youtu.be/ge9LQQfckUY
Guys, if some one has already left and did not know about sailing permit, any insight will be helpful.
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