Buying property in the USA is a rewarding opportunity not only for US citizens but also for foreign investors. Moreover, since foreign real estate investors are allowed to own a property in the USA, it has always been a strong demand for valuable pieces of property in New York, Florida, California and other US destinations.
Which tax rules should real estate investors in US properties follow?
US real estate investors must understand the intricacies of US tax law as there are special rules applicable to US citizens and foreign investors.
First, it is essential to keep a track of all rental income and expenses as most rental properties generate net loss due to depreciation and various rental deductions.
Second, various US states have specific tax filing requirements in case of real estate investors. So it is important to understand and comply with state taxes.
Third, foreign real estate investors have a wide range of US tax topics to consider starting with choosing a right ownership structure to estate tax issues.
Our website has a wealth of information on various real estate tax issues, state tax returns and tax treaties.
Our real estate tax experts have helped many US real estate investors as well as foreign buyers from Asia and Europe to navigate the murky waters of US tax law. To contact tax accountants at Expattaxcpaservices.com, please complete our Contact Form.