What taxes are due to Revenue for reinvested US dividends and long/short term capital gains?
Anyone aware of how retirement savings left in the US are supposed to be taxed? We have Roth Individual Retirement Accounts (IRA, unfortunate name if you live in Ireland!), Rollover IRA and taxable accounts with Vanguard. For the past 9 years I have always just let the small bits of money reinvest back into the fund. I just own Total Stock Market Fund in them.
For a US citizen now working in Ireland:
1) Roth IRAs are retirement accounts that you pay income tax going in and at least in the US are tax-free when cashed in. In the US, this would be tax-free growth and exit but would the tax treaties between ROI and US cover this?
2) Rollover IRAs are the pre-tax Defined Contribution Plan funds that you can roll-out of a company when you leave their employment. I would assume I have to pay taxes on these, but do the re-invested funds need to be reported each year or can I leave in the tax-efficient wrapper and pay when I access the funds in retirement?
3) Taxable brokerage: assume I pay CGT tax when I sell shares of the fund but do I need to report yearly and pay tax? Is there any exemption limit? Confused if reinvested funds should fall under CGT...
I will be going to a CPA soon, but love bouncing things off here to challenge what the professionals say!
Thanks for any advice!
Anyone aware of how retirement savings left in the US are supposed to be taxed? We have Roth Individual Retirement Accounts (IRA, unfortunate name if you live in Ireland!), Rollover IRA and taxable accounts with Vanguard. For the past 9 years I have always just let the small bits of money reinvest back into the fund. I just own Total Stock Market Fund in them.
For a US citizen now working in Ireland:
1) Roth IRAs are retirement accounts that you pay income tax going in and at least in the US are tax-free when cashed in. In the US, this would be tax-free growth and exit but would the tax treaties between ROI and US cover this?
2) Rollover IRAs are the pre-tax Defined Contribution Plan funds that you can roll-out of a company when you leave their employment. I would assume I have to pay taxes on these, but do the re-invested funds need to be reported each year or can I leave in the tax-efficient wrapper and pay when I access the funds in retirement?
3) Taxable brokerage: assume I pay CGT tax when I sell shares of the fund but do I need to report yearly and pay tax? Is there any exemption limit? Confused if reinvested funds should fall under CGT...
I will be going to a CPA soon, but love bouncing things off here to challenge what the professionals say!
Thanks for any advice!