16 August 2014 | 16 replies
I need to know what structure and what business model a foreigner has to adopt to be accepted by the IRS for purposes of paying similar tax as residents on rental income and property flipping.I would like to thank you for your time for having read my request!
2 May 2022 | 8 replies
You may be subject to self employment tax as well.
27 September 2015 | 17 replies
One thing I think I see missing is the 3.4% tax added to fund the Affordable care act that is separate from fed capital gains and whatever state cap gains tax which isn't an issue in Fl but could be as high as 10%.On the other side of things - if you're talking about flipping activity you're talking ordinary income tax but also self employement tax as well - another 15%.So 50% might be an extreme worst case scenario but apart from other tax saving strategies the sting can still feel that bad.Takeaway - strategize and pay only what you have to legally.
10 June 2017 | 10 replies
., Good advise on Turbo Tax as well as run it by a REI knowledgeable CPA in consultation.The CPA visit should be planned late in the first year or definitely well before April 15!
19 April 2017 | 3 replies
Since it's a single member LLC it's default to tax as "Disregarded Entity" like a Sole Proprietorship entity(pass-throught income?).
4 September 2018 | 9 replies
Crazy thing is the appraisal value per the taxing authority is $90,940 which, apart from their 'fuzzy math' in calculating the property tax, puts the tax as a percentage of value at a whopping 6.87%!!
7 June 2024 | 10 replies
Keep in mind you can keep it as a rental for up to 3 more years, and still sell without paying capital gains tax.
27 May 2018 | 90 replies
Pennsylvania Income Tax (a simple 3.07% flat tax)2.
23 July 2018 | 40 replies
In some states transferring property from your name to an LLC will trigger Excise tax as well.
18 April 2011 | 25 replies
The new funds will bring the Chicago-based company’s total invested capital to about $2 billion. “Our enthusiasm for Brazil could not be higher,†Garrabrant, who co-founded Equity International with Zell in 1999, said in a May 18 interview in Sao Paulo. “You’ve got this local demand that’s unparalleled.â€â€œRising incomes among Brazil’s burgeoning middle class will ensure that a cycle of rate increases won’t suppress housing demand,†Garrabrant, 53, said.