Your Name:
Your Email Address:
To: (Email)
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Should I buy my property in my name or as a legal entity?
  Should I buy my property in my name or as a legal entity? The choice you make can change the tax structure of the asset. 

The information below is based on experience together with attorneys that we’ve been working for years. For specific questions, it is always better to consult directly with your attorney.
  When a foreign national buys a property in the United States, the first question to ask is if the apartment will be rented. If so, the rent will be subject to taxation, and this income is taxed differently in each case.    
  Properties in a Legal Name –The taxes for any person’s income should be paid up to April 15th the following year. A foreign national is required to request an Individual Taxpayer Identification Number, or ITIN number, which is a tax processing number issued by the Internal Revenue Service (IRS) for reporting any income in the United States.    If a foreign national owns a property that is rented, this income must be reported under the ITIN number. The tax rate applied will be somewhere between 10 ... more

Are you on The Rain? Grow Your Network!

Spam prevention