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Updated over 8 years ago on . Most recent reply

User Stats

46
Posts
4
Votes
Farhad Shir
  • New to Real Estate
  • Vancouver BC
4
Votes |
46
Posts

Seeking accountant advise for foreign income tax US real estate

Farhad Shir
  • New to Real Estate
  • Vancouver BC
Posted

Hi, I am Canadian investor in US real estate in Indiana State. My goal is to flip property under individual name. I am seeking  advise of accountant familiar with foreign income tax in US real estate and have following questions:

Which expenses I can claim for income tax during flipping(for instance whether international travel cost and accommodation cost  during acquire, rehab, and selling property can be claimed )

How to reduce income tax during closing ( instead of paying 15% of gross sale price I would like to pay actual tax liability which is by far less )

Apply for tax certificate or affidavit to reduce tax liability to actual amount

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