How will money from stock in a Mexican company be taxed? 3 Answers as of December 18, 2010I recently got married. I am quarter owner in a company in Mexico. We have a large amount of dividend over the next three years with a contract that is in place. Do I keep this in my name and file taxes under my name or do I do this as a couple?
Mankus & Marchan, LTD | Tony Mankus
If you are a legal resident in the U.S. you must file a federal income tax return every year and report ALL your US and world-wide income, including dividends from a Mexican company. If you are married you may file a joint return with your wife, or file married filing separately. Generally, a joint tax returns receives a slightly better tax treatment, although you should consult with an accountant for your particular situation.
Answer Applies to: Illinois
Givner & Kaye | Bruce Givner
The issue of whether you file separately or jointly is a decision to be made based on your and your spouse's overall income tax picture. I cannot answer that based on your question. You need to sit down with a competent CPA and run alternative scenarios with tax calculation software.
Answer Applies to: California