Long time client with inheritance from Columbia of about $750k. Assets in an acct with his name for about 10 yrs. He has been paying taxes there. Has to bring to US now! Anyone on process, taxes?

like
Posting as :
works at
You are currently posting as works at

Convert it to diamonds and bring over by drug mule

like

Obviously

like

For the record, it has been at least 3 years since I’ve done that and with the new tax code, I haven’t but I don’t believe the new code addressed this situation.

like

International wire. It will be reported to the IRS as a large transaction and will trigger a report from the receiving bank. I assume he can prove he has been paying tax on it so there won’t be an issue.

Advise them that they WILL get an audit next year but it shouldn’t be a big deal as long as he can prove the money was never earned or been in the US before.

Good for them and you!

like

I can help with the international tax accountant. I used to work for a top firm. Give me your email address and I’ll help you out

like

Mid thirties.

like

....And going on 14. Sounds just like my two teen boys. Nice EJ1

like

When emailing your client, you might want to spell it "Colombia".

like

Thank you MP1!

Bank to use for currency conversion? International tax accountant?

Any bank will do the conversion. Honestly there is only a few banks in the US that do them (think JP Morgan or BAC). All banks that don’t use those as intermittent banks and the receiving bank doesn’t matter. They use the SWIFT system so you will need a SWIFT code (just have the bank fill out the forms).

Doubt you would need a specialized international accountant on that amount but I would check with the clients accountant to make sure they have done it. If they use a small mom and pop shop, might want to call a bigger firm.

Thanks, that’s what I am looking for!

Ssbauer@voyafa.com

Thanks!

Sent you an email

Thank you!

You forgot to mention the part where we smuggle it in his butt.

EJ1, how old are you?

Oh man.... Guess I'll go put myself in time out....

Thanks, EJ1, you just reminded me God really DOES have a sense of humor. Unfortunately, He reserved the right to give you any that would grow with your years.

Exactly, but come FA2, no need for ugliness!

Hey FA1, thank you, had a conf call today! Just what I needed!

Related Posts

Hi Everyone,

I'm a Software Developer with 6 years of experience. I'm immigrating to Netherlands in few months.

Is 4k Euros per month in hand salary after exclusion of taxes is reasonable to meet the expenses of 3 member family in Netherlands?

like

I have a partner who routinely ignores emails or responds to them several weeks later. He has to approve every single document sent to the client or the court, which means you have a physically go to his office to ask him to review something. Half of the time you go to meet with him in person, he’s either on a call or otherwise busy. I find that this basically creates more work and makes meeting deadlines extremely difficult. Is this normal?

like

Does LTA and phone allowance are processed each month as a taxable income if we do not produce the bills ?

like

Can you choose to pick LIFO or FiFO during crypto tax filing team? Coming up on 1 year of buying my first few hundred eth, but want to ensure that I do FIFO to get the lower long term capital taxes

like

Thoughts on potential business ideas or investment opportunities where I can live the life I deserve now and not in retirement? I’m always trying to think of potential business ideas and come up with nothing. As far as interests, it doesn’t matter what it is. As long as it makes money I’m interested.

like

I just received an offer to lateral into banking. How does independence affect the stocks I currently own? If I join and my stocks are on a restricted list will I have to sell them? Or will I be limited to being unable to buy more/sell any during the course of my employment.

likeuplifting

Sharing 2 great accountability apps: Beeminder and Stickk. Through these apps, you commit to daily, weekly, or monthly goals and stay accountable by putting an amount of money of your choice on the line. Beeminder’s interface is simple, but it has a built-in timer that I use to time pomodoros

like

Dave Ramsey video about bitcoin came up on my feed. The guy called bitcoin a gambling slot machine and denounced it as an immature investment. Buddy is proud of his 3% yoy dividend returns lmao

like

Hi all, I am trying to DCA bi-weekly into Vanguard ETFs, (VO, VTI etc). It seems like Fidelity does not support auto buying of non-Fidelity ETFs. So I was wondering which of these options you think is best?

1. Open a Vanguard Invest account
2. Look for Fidelity ETFs that are similar to Vanguard ETFs
3. Use smaller brokerages like SoFi l, Robinhood etc.

I really do not want to manage nor be active. My goal is to log-in like once every 6 months.

Thank you all.

like

A colleague mentioned to me that they bill self study instead of pto. If I’m utilized at 100%+ and staffed on a client and take 3 days off wed-Sunday, they say bill self study and save pto. Advice?

like

Could anyone recommend a set of indices that are publicly available and is a good predictor for consumer spend in home renovations ?

like

Hey Fishes,
Been working at D India as a Manager (Not USI) for past few months.
Ask me anything as there are very few reviews available online.
To clear few misconceptions
1. Global projects are available here
2. They've started mentioning Bonus, Gratuity amount etc in offer letter
3. Work life balance depends on Project and managers you work with
4. Inside opportunities if you're the creamy layer
5. PF amount in offer letter is the total deduction and not just company's contri

Other can add

like

Should I trade in my iPhone 13 pro max for $720 to Apple? I don’t know what they sell for used but if that is a good deal let me know if you want to buy it.

like

Have you ever taken a job you know you will hate because you needed the money right away? I have a family to take care of. I don't want to be plowing through our savings for selfish reasons like my mindframe at work, but I don't want to make our lives worse by being miserable. It's a matter of really ruining some of our financial future if we don't get money soon.

like

Iam 5 month pregnant , thinking to get release from project due to health issue and taking maternity leave from april 1st, at this situation can I be in bench for 3 months and go in maternity leave ? Will this affect my job in Accenture? Will the organization allow to be in bench for 3 months? If iam in bench during maternity leave will i get variable pay

Anyone concerned with the dip in the market now? Both brokerage and 401k has taken hit. What are different things you folks are doing??

likefunny

Any downside to buying a 1bed 170k starter house instead of paying 1.5k in rent for a couple of years? Living with parents and thinking of getting a new place post covid.

I'm able to buy the house all cash or at least 50% down (credit is low) and assuming closing costs are not that big a deal at this price point. If my math is correct then buying comes out to be better in this situation but I've never owned any RE before so wondering what else I might be missing.

like

FLORIDA: can an attorney accept services as payment from a client? (E.g: drafting a demand letter for a client in exchange for web design services)

like

It’s crazy how much close friends influence you.
Would you stay friends with someone that consistently makes bad financial decisions. Or distance yourself for like-minded folk.

I have a friend that is constantly trying to guilt me and pressure me into overspending, especially on “luxury” items. But I have different goals for my money and she doesn’t seem to respect that.

like

You know how when you do something bad to someone else you get bad karma w that person? Who decided who was in the wrong? What if you both think you’re right? Who gets the karmic debt?

like

More Posts

I am currently looking for a mentor and not sure the best way to approach finding one. Any advice?

like

Any company is hiring EU citizens and helping with visa? interested in moving to USA. I'm lawyer, cissp, cisa, cipp/e and specialized n data privacy, cybersec ops and risk management with 8+ years exp

I’m not naive or fresh out of law school, but I’m at a point where I’m saying to myself “Why can’t I have it all?” I’ve been offered a job for more pay and less hours and I keep thinking to myself, what’s the catch? I know people will say no promotion potential or that’s not how it works…but what if it could? What if you make yourself valuable by still setting your boundaries? Why would we resent someone who has that opportunity?

like

Pretty sure everyone knows I’m stoned rn

likefunnyuplifting

It’s not that bad.

likefunny

Unpopular opinion: I support my lgbtqia+ brothers and sisters and Pride month, but nobody’s changing their company logo for black history month. Just happened to be job searching & saw all the 🌈logos

likesmart

Selfishly, I don’t want lock down to end. I’m enjoying not having to be in the office and the reduced pressure of a more low-key social life has been secretly quite nice. Anyone else?

likeuplifting

I recently got an offer from Accenture but I am not sure about the job security as I heard they have laid off many employees. Need your inpur on this please.

TIA 🙏

like

Hello fishes, Please let me know if anyone is willing to join TCS. Please drop an email to vishalaga6@gmail.com with attached resume. There are multiple openings for folks having 3-10 years of experience. Skills Required - J2EE, Java, PLSQL, Spring Boot. Tata Consultancy

like

Can any one from Adidas share what type of work they r doing...I mean it's not tech company... it's a Manufacturing Org...What r they developing and what r they testing....???

like

How much hike we can expect while promoting from SA to M level ?

like

Hi guys how's work life balance in EY India in technology line? What is the average working hours during normal times and peak season? I would be really glad if someone can help me with this! Thanks!

like

Anyone have or know of any fully remote opportunities? Assurance/Advisory preferred. I’m an experienced staff in assurance for context. Would love to connect if you can help me out. TIA

like

Are salaries negotiable at performance review and/or promotion?

like

Hi Fishes,
Can anyone please refer me
Gartner for operation associate profile

like

What is Amazon Quantum ledger database??? Someone can explain in English?

like

TLDR; How's BNY Mellon. One can join or not?


My friend is getting offer from BNY Mellon for full stack role.
Anyone give feedback of this company.

He's getting the technology he wanted. But He is confused that few years back this Company made layoffs and called as hire and fire company in glassdoor.

Can someone who worked or knows about this company help us with it.

How's the Work culture and growth opportunities there?

like

There are too many men out there who think that just because I'm being polite, it's a sign that they should flirt with me while I'm at work. I thought this was 2022, why haven't we as a society gotten past this yet?

like

MITREs Glassdoor rating is like a ski slope.

Post Photo
likefunny

Asking for a friend: Looking for a referral to KPMG Advisory - Federal Healthcare Policy. 7 years exp + MPP + currently at BAH. Let me know if any fish want to bite 🎣

likesmartfunny

Additional Posts in Financial Advisors

Best coaching company to help focus on client service model and bringing in new assets?

like

Besides buying a book if budget doesn’t get in the way what are the best ways to prospect and bring in new assets? Looking to grow.

like

We have been utilizing a third party asset manager. We have grown to the point where we just don’t think it makes financial sense to continue to do that and need to bring the portfolio management in-house. Have a few questions for the group:
How many models do you run?
How much time do you devote to this weekly?
What advice would you give to someone who has had total reliance on TAMPs but making a complete change to investment management style?

likehelpful

It's March, and I have done a lot of seminars in Jan and Feb. I've gotten a few clients but would like to increase AUM drastically! Any books, sites or advice on what I can do for marketing?

like

Client referred me to thier mother. Has $68k coming due in cds and wants income. Money is qualified. Refuses stocks. Wants some money short term. Any ideas?

like

What is the biggest "burden" about your jobs? The research of stocks, funds, bonds, etc. or putting together a portfolio for customers during the busy seasons?

like

Client had a privately held REIT in IRA. Trying to transfer to IRA I manage to diversify. I need some help. Continued...

like

Sometimes I feel like I am a drone that just works all the time and I have no friends.

likefunny

What software does your firm use and how do you like it? CRM, scheduling, virtual Meetings, Client Portal, consolidated statements, etc.

like

Have an interview coming up. Am nevous about bombing. What usually trips you up and what should I look out for?

like

I love this career and want to help more people but I feel like I really suck at marketing myself to help more people. People don’t pick up the phone or reply to electronic communications. Continued.

like

Anybody familiar with the Fisher Investments sales role? They give you a salary first 2 years plus commission, but the only thing that I don’t like is they no longer pay the trail on any account you open after 3 years. Just wanted to know if anyone knows anything about their program and if the FA’s are really getting THAT many leads to justify that comp plan.

like

What’s the biggest point of pain for you Indy’s, that tech or other services hasn’t fixed yet?

like

At what point did you realize that you no longer had to fight to make it? Certain number of clients? Certain number of AUM? Maybe never?

like

I just finished the book I was reading. What should I read next?

like

When emailing someone for an interview for the first time do you address them by Mr/Mrs last name or by their first name?

like

Whats a great farewell gift for an intern (besides a job offer)?

When was the last time you felt truly happy?

like

I’ll know I’ve made it when...

like

How do you get better at small talk? I tend to get directly to the point and possibly miss out on building more subtle things in a relationship

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal