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Updated almost 9 years ago on .
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Seeking accountant advise for foreign income tax US real estate
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