{"id":242,"date":"2014-03-12T10:56:46","date_gmt":"2014-03-12T10:56:46","guid":{"rendered":"https:\/\/directcpa.com\/?p=242"},"modified":"2016-04-26T12:01:15","modified_gmt":"2016-04-26T12:01:15","slug":"foreign-assets-a-different-approach","status":"publish","type":"post","link":"https:\/\/directcpa.com\/es\/foreign-assets-a-different-approach\/","title":{"rendered":"Foreign Assets: A Different Approach"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" data-id=\"333\"  src=\"https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6.jpg\" alt=\"6\" width=\"500\" height=\"450\" class=\"alignnone size-full wp-image-333\" srcset=\"https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6.jpg 500w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-150x135.jpg 150w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-278x250.jpg 278w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-100x90.jpg 100w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-200x180.jpg 200w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-300x270.jpg 300w, https:\/\/directcpa.com\/wp-content\/uploads\/2014\/03\/6-450x405.jpg 450w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/>As a family-run firm with international roots, we understand better than most how complicated managing finances across borders can be. And, in light of the Foreign Account Compliance Act (FATCA), it\u2019s more important than ever to get it right.<\/p>\n<p>That\u2019s because the potential fines are painfully high: a taxpayer can be exposed to hundreds of thousands of dollars for non-disclosure and even, potentially, criminal charges. Fortunately, all that you need to avoid this, as a U.S. taxpayer, is to disclose any foreign holdings; FATCA does not impose any new taxes.<\/p>\n<h3 class=\"blog_detail_heading\">What You Need To Know:<\/h3>\n<ul>\n<li><b>1)    The difference between Tax Residency and Legal-Immigration Residency<\/b><br \/>\nMany people operate on the belief that if they spend less than 180 days in the U.S., that they don\u2019t have to pay taxes here. What many of them don\u2019t realize is that there is a Three Year Look-Back test the IRS conducts to determine Tax Residency.<\/li>\n<li><b>2)     What Constitutes a Foreign Asset<\/b><br \/>\nAccording to the IRS, any financial account that is maintained by a foreign financial institution (this doesn\u2019t include either the foreign branch of a U.S. institution or a U.S. branch of a foreign one) counts as a foreign asset. Assets such as stock or securities issued by someone other than a U.S. person, any interest in a foreign entity, or any financial instrument or contract that has an issuer or counterparty other than a U.S. person are also counted as foreign.<\/li>\n<li><b>3)     What Actions Needs to Be Taken<\/b><br \/>\nIn general, any U.S. taxpayer with more than $50,000 in foreign assets needs to file an 8938 form with their tax return. But there are many complexities with FATCA, so it is important to speak with a tax professional about your particular situation to determine what your requirements are.<br \/>\n Have any questions? Feel free to <a href=\"#\" class=\"coontent_link\">contact us<\/a> today. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>As a family-run firm with international roots, we understand better than most how complicated managing finances across borders can be. And, in light of the Foreign Account Compliance Act (FATCA), it\u2019s more important than ever to get it right.<br \/>\nThat\u2019s because the potential fines are painfully high: a taxpayer can be exposed to hundreds of thousands of dollars for non-disclosure and even, poten&#8230;<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/directcpa.com\/es\/foreign-assets-a-different-approach\/\">Leer m\u00e1s \u203a<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreign Assets: A Different Approach - Rosillo &amp; Associates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign Assets: A Different Approach - Rosillo &amp; Associates\" \/>\n<meta property=\"og:description\" content=\"As a family-run firm with international roots, we understand better than most how complicated managing finances across borders can be. And, in light of the Foreign Account Compliance Act (FATCA), it\u2019s more important than ever to get it right. That\u2019s because the potential fines are painfully high: a taxpayer can be exposed to hundreds of thousands of dollars for non-disclosure and even, poten...Leer m\u00e1s \u203a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/\" \/>\n<meta property=\"og:site_name\" content=\"Rosillo &amp; Associates\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-12T10:56:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-04-26T12:01:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"585\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"frank.rosillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"frank.rosillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/\"},\"author\":{\"name\":\"frank.rosillo\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/#\\\/schema\\\/person\\\/3bc2d34acf74ffa0d5a1f4cd772cdf2a\"},\"headline\":\"Foreign Assets: A Different Approach\",\"datePublished\":\"2014-03-12T10:56:46+00:00\",\"dateModified\":\"2016-04-26T12:01:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/\"},\"wordCount\":314,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/directcpa.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/8463683689_baa33ca431_b-585x250.jpg\",\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"es\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/\",\"url\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/\",\"name\":\"Foreign Assets: A Different Approach - Rosillo &amp; Associates\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/directcpa.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/8463683689_baa33ca431_b-585x250.jpg\",\"datePublished\":\"2014-03-12T10:56:46+00:00\",\"dateModified\":\"2016-04-26T12:01:15+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/#\\\/schema\\\/person\\\/3bc2d34acf74ffa0d5a1f4cd772cdf2a\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#primaryimage\",\"url\":\"https:\\\/\\\/directcpa.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/8463683689_baa33ca431_b-585x250.jpg\",\"contentUrl\":\"https:\\\/\\\/directcpa.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/8463683689_baa33ca431_b-585x250.jpg\",\"width\":585,\"height\":250},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/foreign-assets-a-different-approach\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/directcpa.com\\\/es\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Foreign Assets: A Different Approach\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/#website\",\"url\":\"https:\\\/\\\/directcpa.com\\\/\",\"name\":\"Rosillo &amp; Associates\",\"description\":\"CPA Doral Miami Area\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/directcpa.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/#\\\/schema\\\/person\\\/3bc2d34acf74ffa0d5a1f4cd772cdf2a\",\"name\":\"frank.rosillo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g\",\"caption\":\"frank.rosillo\"},\"url\":\"https:\\\/\\\/directcpa.com\\\/es\\\/author\\\/frank-rosillo\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Foreign Assets: A Different Approach - Rosillo &amp; Associates","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/","og_locale":"es_ES","og_type":"article","og_title":"Foreign Assets: A Different Approach - Rosillo &amp; Associates","og_description":"As a family-run firm with international roots, we understand better than most how complicated managing finances across borders can be. And, in light of the Foreign Account Compliance Act (FATCA), it\u2019s more important than ever to get it right. That\u2019s because the potential fines are painfully high: a taxpayer can be exposed to hundreds of thousands of dollars for non-disclosure and even, poten...Leer m\u00e1s \u203a","og_url":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/","og_site_name":"Rosillo &amp; Associates","article_published_time":"2014-03-12T10:56:46+00:00","article_modified_time":"2016-04-26T12:01:15+00:00","og_image":[{"width":585,"height":250,"url":"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg","type":"image\/jpeg"}],"author":"frank.rosillo","twitter_card":"summary_large_image","twitter_misc":{"Escrito por":"frank.rosillo","Tiempo de lectura":"2 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#article","isPartOf":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/"},"author":{"name":"frank.rosillo","@id":"https:\/\/directcpa.com\/#\/schema\/person\/3bc2d34acf74ffa0d5a1f4cd772cdf2a"},"headline":"Foreign Assets: A Different Approach","datePublished":"2014-03-12T10:56:46+00:00","dateModified":"2016-04-26T12:01:15+00:00","mainEntityOfPage":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/"},"wordCount":314,"commentCount":0,"image":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#primaryimage"},"thumbnailUrl":"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg","articleSection":["Uncategorized"],"inLanguage":"es"},{"@type":"WebPage","@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/","url":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/","name":"Foreign Assets: A Different Approach - Rosillo &amp; Associates","isPartOf":{"@id":"https:\/\/directcpa.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#primaryimage"},"image":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#primaryimage"},"thumbnailUrl":"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg","datePublished":"2014-03-12T10:56:46+00:00","dateModified":"2016-04-26T12:01:15+00:00","author":{"@id":"https:\/\/directcpa.com\/#\/schema\/person\/3bc2d34acf74ffa0d5a1f4cd772cdf2a"},"breadcrumb":{"@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/directcpa.com\/foreign-assets-a-different-approach\/"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#primaryimage","url":"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg","contentUrl":"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/8463683689_baa33ca431_b-585x250.jpg","width":585,"height":250},{"@type":"BreadcrumbList","@id":"https:\/\/directcpa.com\/foreign-assets-a-different-approach\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/directcpa.com\/es\/"},{"@type":"ListItem","position":2,"name":"Foreign Assets: A Different Approach"}]},{"@type":"WebSite","@id":"https:\/\/directcpa.com\/#website","url":"https:\/\/directcpa.com\/","name":"Rosillo &amp; Associates","description":"CPA Doral Miami Area","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/directcpa.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Person","@id":"https:\/\/directcpa.com\/#\/schema\/person\/3bc2d34acf74ffa0d5a1f4cd772cdf2a","name":"frank.rosillo","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/secure.gravatar.com\/avatar\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8d085cf82cdb3c99f44af48f2e99f0e2ef518e91b3cf30012949c044206d95b1?s=96&d=mm&r=g","caption":"frank.rosillo"},"url":"https:\/\/directcpa.com\/es\/author\/frank-rosillo\/"}]}},"_links":{"self":[{"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/posts\/242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/comments?post=242"}],"version-history":[{"count":3,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/posts\/242\/revisions"}],"predecessor-version":[{"id":338,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/posts\/242\/revisions\/338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/media\/243"}],"wp:attachment":[{"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/media?parent=242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/categories?post=242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/directcpa.com\/es\/wp-json\/wp\/v2\/tags?post=242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}