tax concerns for foreign investors and u.s. citizens investing abroad
DESCRIPTION
TAX CONCERNS FOR FOREIGN INVESTORS AND U.S. CITIZENS INVESTING ABROAD. By THOMAS C. ROBERGE & COMPANY CERTIFIED PUBLIC ACCOUNTANTS U.S. INTERNATIONAL TAX SERVICES Presented Susan Inez Poskus , CPA. - PowerPoint PPT PresentationTRANSCRIPT
TAX CONCERNS FOR FOREIGN INVESTORS AND U.S. CITIZENS INVESTING ABROAD
By
THOMAS C. ROBERGE & COMPANYCERTIFIED PUBLIC ACCOUNTANTS
U.S. INTERNATIONAL TAX SERVICES
Presented Susan Inez Poskus, CPA
ONE BEACH DRIVE SE, SUITE 220 FACSIMILE 727 823-6781 677 NORTH WASHINGTON BOULEVARDST. PETERSBURG, FLORIDA 33701 [email protected] SARASOTA, FLORIDA 34236TELEPHONE: 727 822-9393 WWW.ROBERGECO.COM TELEPHONE: 941 952-5848
FOREIGN INVESTOR PURCHASING PROPERTY IN THE U.S.
FOREIGN INVESTORTRANSFERING PROPERTY IN THE U.S.
• What is FIRPTA? (The 10% withholding on the GROSS sales price, required anytime a Foreign person sells real estate)
– Definition of Foreign person• Greencard• Other
– Obtaining Relief from the 10% withholding• U.S. Person • Withholding certificate• 300,000 rule
• Other Types of transfer– Gift– Quit Claim– 1031 Exchange – may not be tax free or deferred in home country
– Short Sales» FIRPTA withholding still applies» Reduction in withholding can be requested » Not all short sales result in loss to taxpayer
FOREIGN INVESTORSEstate & Gift Tax Issues
U.S. TAX RESIDENTS & INTERNATIONAL TAX ITEMS
The Company