We are team of professionals skilled in filing tax returns for foreign owners of US property.
We know the law; Foreign Investment in Real Property Tax Act (FIRPTA) and how it applies to your situation.
We will get you through the complex process of minimizing the FIRPTA withholding your Title Company must do at the time of sale.
The IRS wants some! We are experts in minimizing your Federal and State tax obligations here in the US.
Your US tax and compliance solutions are available through our firm. As a foreign person, owning a holiday home, investment property or small business in the USA brings new and different tax filing and compliance requirements, such as Foreign Investment in Real Property Tax Act (FIRPTA). The team here at Foreign Tax CPA, LLC has been assisting non-resident foreign clients (known as nonresident aliens in IRS terminology) for over 25 years. Our Team will ensure you are fully compliant with US tax laws and efficiently apply the potential Treaty benefits and filing elections to minimize your US tax obligation and maximize your refund. As a client of Jan Marie Doughty CPA and now with Foreign Tax CPA you will have peace of mind that you are meeting the wide variety of requirements to which property and business ownership in the USA may be exposed to as a non-resident.
Janet Noack is an American Certified Public Accountant (CPA) practicing in US taxation for property and business services with particular emphasis on non-resident and international clients. We strongly recommend that you select a qualified Certified Public Accountant (CPA) to prepare the necessary tax returns. A CPA is licensed by a US State and the designation represents extensive education and professional experience and testing in all areas of accounting, auditing, business law, and taxation. This is equivalent to Chartered Accountants in the UK and Canada.
The US tax regulations and Treaty rules are complex and vary depending on your county of residence. It is not possible to cover the details in this brief introduction. Janet Noack, CPA is happy to provide a brief consultation to enable you to understand your US investment and filing requirements to ensure compliance and minimize any tax obligations. Our firm has clients in over 40 countries and work with Title Companies, Realtors and Lawyers in all 50 States in the USA. We specialize in assisting foreign individuals and businesses with US tax filing and compliance.
Foreign Tax CPA is a US based CPA firm providing international tax services, including FIRPTA, for global
businesses, American expats, and foreign nationals. We’re highly experienced in international taxation.
The US tax regulations and Treaty rules are complex and vary depending on your country of residence or citizenship. It is not possible to cover the details in this brief introduction. Foreign Tax CPA is happy to provide a brief consultation to enable you to understand your US investment and filing requirements, including FIRPTA, to ensure compliance and minimize any tax obligations.
Janet Noack, CPA and her team have unique experience and knowledge of taxation of non-us people and companies Our firm has clients in over 40 countries and work with Title Companies, Realtors and Lawyers in all 50 States in the USA.
Our comprehensive approach will direct you to an appropriate business entity for you business – sole proprietorship, partnership, corporation, S-corporation.
The process starts before you buy a holiday home or begin your business as careful consideration should be given to the best way to take title from a US income and estate (inheritance) tax perspective and how these decisions effect your potential treaty benefits and filing benefits.
Foreign owners of US property are often subject to US tax obligations. These obligations include income tax on any rental income earned from the property, as well as capital gains tax and FIRPTA withholding if the property is sold. To ensure compliance with US tax laws, foreign owners should obtain an Individual Taxpayer Identification Number (ITIN) and file a US tax return each year.Â
However, under certain circumstances, foreign owners may be able to reduce their US tax liability. For example, they may be eligible for deductions and credits such as depreciation on rental property and the foreign tax credit for taxes paid in their home country. It is advisable for foreign owners to seek professional tax advice to determine the most advantageous tax strategies for their particular situation.Â
Foreign owners may also benefit from considering the use of a US-based limited liability company (LLC) to hold their US property. This can provide liability protection and offer potential tax advantages. Again, professional advice from a qualified tax proffessional is recommended to determine the optimal structure and tax treatment for the LLC.
