canadians taxed more?

[R Ruben]

Hello!

My husband and I are Canadian and are close to purchasing our first investment property in the US. I've recently been told that the taxes for Canadians is higher.

Does anyone know anything about this?

Thanks

[Theresa Matella]

Hi, if you are talking about property taxes, then those may be higher if your investment property is not your primary residence. In Florida, if the property is not your homestead, then you miss out on a homestead exemption deduction, therefore your taxes will be higher.

If you are talking about Canadian taxes.. I just sold 4 homes to Canadian buyers recently in Florida and they said that they have already paid tax on their money in Canada, and they don't need to pay tax on it again, after purchasing a US home. I would talk to your attorney, accountant, or financial advisor for the best answer.

:) Good Luck!