Podcast
Questions and Answers
Under the 'substantial presence' test, how many days was Danny physically present in the U.S. in 2024?
Under the 'substantial presence' test, how many days was Danny physically present in the U.S. in 2024?
- 120 days (correct)
- 31 days
- 100 days
- 180 days
Which of the following activities do NOT count towards the 'substantial presence' test for U.S. residency?
Which of the following activities do NOT count towards the 'substantial presence' test for U.S. residency?
- Being a student
- Being a diplomat
- Participating in a charitable event
- Earning business income (correct)
What does 'ECI' stand for in the context of U.S. tax treatment of inbound transactions for individuals?
What does 'ECI' stand for in the context of U.S. tax treatment of inbound transactions for individuals?
- Economic Connection Income
- Equalized Corporate Income
- Effectively Connected Income (correct)
- External Corporate Investment
In the U.S. tax context, what does 'FDAP' stand for in relation to investment income?
In the U.S. tax context, what does 'FDAP' stand for in relation to investment income?
How is an NRA's ECI (effectively connected income) taxed compared to a U.S. taxpayer's income?
How is an NRA's ECI (effectively connected income) taxed compared to a U.S. taxpayer's income?
Can interest and dividends earned by an NRA ever be considered as 'ECI' under specific circumstances?
Can interest and dividends earned by an NRA ever be considered as 'ECI' under specific circumstances?
Meghan Markle, being a U.S. citizen who moves to the U.K., falls under which classification when it comes to U.S. tax?
Meghan Markle, being a U.S. citizen who moves to the U.K., falls under which classification when it comes to U.S. tax?
If Prince Harry becomes a resident of the U.S., how would he be classified for U.S. tax purposes?
If Prince Harry becomes a resident of the U.S., how would he be classified for U.S. tax purposes?
What determines if an individual is considered a U.S. citizen?
What determines if an individual is considered a U.S. citizen?
How can an individual become a U.S. resident based on the substantial presence test?
How can an individual become a U.S. resident based on the substantial presence test?
If Danny is long suspected of being a citizen of Mars, how does this impact his U.S. tax status?
If Danny is long suspected of being a citizen of Mars, how does this impact his U.S. tax status?
What is a definitive criterion to be classified as a U.S. taxpayer?
What is a definitive criterion to be classified as a U.S. taxpayer?
