Question
FOREIGN CORPORATIONS OUT OF US
I have a client US Citizen, has a business in UAE and a business here in US. He lives in UAE.
The question is any US Citizen Owens business in UAE that is less 51 percent does need to report his income in his personal tax return and if Owens 49 percent does not need to report his income in his personal tax return? Is this true and correct interpuation based on US tax law?
