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23 January 2021 | 1 reply
Property Taxes, Insurance, Management Costs, etc.)With either method of taxation, foreigner investors must have an Individual Taxpayer Identification Number (ITIN).Obtaining A Taxpayer IDAs soon as possible, foreigner investors need to obtain a U.S.
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22 January 2021 | 2 replies
Anthony, I recommend finding an accountant that specializes in real estate taxation over one that is local.
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23 January 2021 | 3 replies
Cameron,I recommend finding an accountant that specializes in real estate taxation over one that is local.
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23 January 2021 | 4 replies
Darren, I recommend finding an accountant that specializes in real estate taxation over one that is local.
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25 January 2021 | 7 replies
Robert, I recommend finding an accountant that specializes in real estate taxation over one that is local.
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26 January 2021 | 4 replies
LLC:Default taxation is that of a partnership with profit distributions allowed to members of the LLC Owners' personal assets are shielded from risk LLC is not considered a taxable entity for income and therefore profit/loss flow to the owners' personal tax returns Involves a self-employment tax Requires registration with the state (which poses questions considering we're looking to invest out of state)Corp:Members are shareholders rather than self-employed; personal tax returns are not involved Corporate tax rules apply - entity is taxed on net earnings and then any dividends paid to shareholders are taxed as well (double taxation)Would paying dividends be required?
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25 January 2021 | 1 reply
And what is the taxation in this case for the previous house and for the new one?
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3 February 2021 | 2 replies
Jacob, I recommend finding an accountant that specializes in real estate taxation over one that is local.
8 February 2021 | 11 replies
Since it's 1031, they pay no tax at all.
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5 February 2021 | 3 replies
I recommend finding an accountant that specializes in real estate taxation.