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US Social Security Benefits for Non-Resident Aliens: Do They Get Taxed?

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Manage episode 400764183 series 3552789
Innhold levert av Coach JP Money. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Coach JP Money eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Quick Hit from Global Thinkers - Recently I had a client for Global Thinkers Tax Services ask me about US Social Security Taxes for their “non-resident alien” wife who will soon be receiving their US Social Security Benefit.
They wanted to know;

  • Will that benefit be taxed?
  • If so, how much?
  • If so, how can they legally minimize or nullify the tax?

The short answer is YES! About 25.5% of the benefit will be withheld as “tax”. And yes, there is a way to minimize or even get that tax down to zero.

To be more specific, if you are a nonresident alien receiving retirement, disability or survivor benefits, SSA will withhold a 30 percent flat tax from 85 percent of those benefits unless you qualify for a tax treaty benefit. This results in a withholding of 25.5 percent of your monthly benefit amount.
Listen to the full podcast for complete details

Resources

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12 episoder

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iconDel
 
Manage episode 400764183 series 3552789
Innhold levert av Coach JP Money. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Coach JP Money eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Quick Hit from Global Thinkers - Recently I had a client for Global Thinkers Tax Services ask me about US Social Security Taxes for their “non-resident alien” wife who will soon be receiving their US Social Security Benefit.
They wanted to know;

  • Will that benefit be taxed?
  • If so, how much?
  • If so, how can they legally minimize or nullify the tax?

The short answer is YES! About 25.5% of the benefit will be withheld as “tax”. And yes, there is a way to minimize or even get that tax down to zero.

To be more specific, if you are a nonresident alien receiving retirement, disability or survivor benefits, SSA will withhold a 30 percent flat tax from 85 percent of those benefits unless you qualify for a tax treaty benefit. This results in a withholding of 25.5 percent of your monthly benefit amount.
Listen to the full podcast for complete details

Resources

  continue reading

12 episoder

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