Bill Hampton
Five Things to Know about Estimated Taxes and Withholding
Five Things to Know about Estimated Taxes and WithholdingWith 10 million taxpayers a year facing estimated tax penalties, the IRS offers some simple tips to help prevent a surprise at tax time.People pay taxes on inco...
DS MokNgo
Accountant advise for foreign investor
Hi All,I am not a US resident and live in Australia. I have sold my US investment property in 2023. For Tax Return 2022, it is my first time I need to pay tax to IRS ($269). My accountant gave me instruction for payin...
James Bakun
How does a foreign seller get their 15% FIRPTA withholding back?
I have a foreign client who is completing a 1031 exchange, and has decided to bring extra cash to the closing table to replenish the "withheld" FIRPTA amount on the sale of the relinquished property. This will allow u...
Apkesh Kumar
Can a non-resident avoid withholding taxes through reinvesting?
Hello, I am a non-resident foreign investor with a a rental property that i own in Florida which I bought for $300K. I would like to sell that property and buy another property outside of Florida, most likely in Chic...
Ryan Stirling
FIRPTA/HARPTA Withholding - Seller is requesting SSN of Buyer
Context: Seller is a foreigner to the US and special tax withholding must take place via FIRPTA/HARPTA. In the offer, the seller is requesting that we add this term to the contract:Request: “Buyers authorize Escrow to...
David Swatch
Franchise Tax in California
I am flipping a property in ca I bought in November 2015 . Escrow lady told me I have to pay 3.5 % franchise tax because property is under my name . Is there any way I can avoid this tax any suggestions will apprecia...
Ian MacLean
ITIN and personal capacity vs corporate entity
Hi all,I wanted to ask whether anyone had opinions / advice on the following:1. As a foreigner, am I able to obtain an ITIN without an LLC? I would like to purchase in my own name (without an LLC), but do not want to ...
Elise Bickel Tauber
New Tax Withholdings Question in Pennsylvania
I recently started my own property management company, but prior to this I was working underneath a large franchise. When I opened my doors to my new company in the last week or two I came to find a new 1099-MISC tax ...
Douglas Rice
Withholding back rent from security deposit
I have a tenant with a substantial security deposit who stopped paying rent. When they do leave can I withhold the back rent from their security deposit? It is larger than rent for the duration of their lease term rem...
Tom Braddy
Property Manager Withhold Rent to Landlord
Hi,I own rental properties in Atlanta suburb and my PM has been late (paid after the 25th) paying the rent to me and my fellow investors for various reasons for many months. This month she upped the ante and demand...