HuangNiLuo
如果买了IRA后回国了。59.5岁时能在国内要回这笔钱吗？
1882
12
2005-03-21 13:55:00
well, it's early to worry about things in 30-40 years. laws will change.
BTW, for younger people Roth IRA is better than traditional IRA.
first, u must already know the difference about two IRAs:
Roth IRA: use after-tax money, but the return will be tax-free
Traditional IRA: user pre-tax money, no tax before u reach retirement age. but when u retire,i.e. start to take money out of it, u need to pay tax.
Therefore, for 30 years growth/return, Roth IRA is much better. For people who r 10 years or less away from retirement, traditional one is the way to go.
Now come back to tax, did u join 401k program? that will reduce ur tax. And most companies will match some percentage after 1 yr employment(or less). double benefits.
[此贴子已经被作者于2005-3-21 15:34:35编辑过]
buying a house!! that is too far away for me.
Hai... I thought maybe there has someway I can avoid to pay $300. seems I have to. My salary is already very low I am so unhappy even just thinking I need to pay that money.
Thanks for your answering me so quickly.
no problem. are u on H1/OPT? did u use the $5000 treaty deduction already?
really?! never heard of this rule. did u find a tax publication said it?
Just did a quick search, china $5000 has the following two restrictions:
b | if within the time limit, the student may claim tax treaty even if s(he) qualifies as "resident alien" for tax purposes but not applicable for permanent resident or immigrant status…standard deduction is lost if treaty is claimed as "resident alien" |
if treaty benefits are used as a student, they may not be used immediately following as a teacher/researcher |
http://www.dbf.state.fl.us/bosp/china.html
INCOME TAX TREATY BETWEEN THE PEOPLE'S REPUBLIC OF CHINA AND THE UNITED STATES
General Effective Date January 1, 1987
Article 20--Students and Trainees
A student, business apprentice or trainee who is, or was immediately before visiting a Contracting State, a resident of the other Contracting State and who is present in the first-mentioned Contracting State solely for the purpose of his education, training or obtaining special technical experience shall be exempt from tax in that Contracting State with respect t
(a) payments received from abroad for the purpose of his maintenance, education, study, research or training;
(b) grants or awards from a government, scientific, educational or other tax-exempt organization; and
(c) income from personal services performed in that Contracting State in an amount not in excess of 5,000 United States dollars or its equivalent in Chinese yuan for any taxable year.
The benefits provided under this Article shall extend only for such period of time as is reasonably necessary to complete the education or training.
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