Foreign investment in Colorado (CO) real estate continues to increase. It seems that foreign investors have a healthy appetite for a variety of real estate, including single family homes, commercial buildings and apartment buildings. With the turnaround in the market, this investment stands to increase in the coming years.
But many foreign investors don’t understand the tax issues associated with foreign ownership in US real estate. The questions they need to have answered include (among others):
- How am I taxed at the federal level?
- How am I taxed at the state level?
- When are the tax returns due?
- Are there any elections that need to be filed?
- How do I get a tax ID #?
- What does it cost to file the returns?
- Are there any tax strategies that I can implement to lower my tax bill?
Foreign investors in Colorado real estate have many issues that need to be addressed. It has been our experience that many CPA firms and tax professionals just don’t have the experience in addressing these issues. We address our foreign client concerns by using a three step process.
First, we review and discuss the tax structure for the client and determine if there needs to be a modification to the structure. This is potentially to lower the overall tax bill or possibly to reduce the red tape and filing requirements.
Second, we review all your relevant tax documents and also can coordinate with your real estate property management company to obtain the income and expenses for your real estate. The goal of course is to save you time and ensure that the filing is efficient. It is not uncommon for clients to have lost receipts and other tax documents. We make sure to maintain and review your settlement statements and also any other real estate related documents.
Lastly, we finalize your Colorado state and federal tax returns and review the results with you. We again review and analyze your situation to ensure that you are maximizing your tax deductions and minimizing your tax liability. Each situation is different, but our goal is to lower your tax bill and make sure that your returns are reviewed for “red flags”.
We help foreign clients who have purchased real estate throughout the state of Colorado. We have a team of tax professionals that can help you every step of the way. Do not fear the IRS or the state of Colorado as there are many options at your disposal.
Any CPA or accountant can help you pull your tax documents together, but many are not qualified to deal with foreign investors. But you need a firm who is competent in dealing with these issues. Can us today at 480-361-9400.
Serving the following Colorado (CO) cities and communities:
Agate Aguilar Akron Alamosa Allenspark Alma Almont Amherst Anton Antonito Arapahoe Arboles Arlington Arriba Arvada Aspen Atwood Ault Aurora Austin Avon Avondale Bailey Basalt Battlement Mesa Bayfield Beaver Creek Bedrock Bellvue Bennett Berthoud Bethune Beulah Black Forest Black Hawk Blanca Boncarbo Bond Boone Boulder Boyero Branson Breckenridge Briggsdale Brighton Broomfield Broomfield Brush Buena Vista Buffalo Creek Burlington Burns Byers Cahone Calhan Campo Canon City Capulin Carbondale Carr Cascade Castle Rock Cedaredge Centennial Center Central City Chama Cheraw Cheyenne Wells Chimney Rock Chipita Park Chromo Cimarron Cimarron Hills Clark Clifton Climax Coal Creek Coaldale Collbran Colorado City Colorado Springs Colorado Springs USAFA Commerce City Como Conejos Conifer Cope Copper Mountain Cortez Cory Cotopaxi Cowdrey Craig Crawford Creede Crested Butte Crestone Cripple Creek Crook Crowley Cuchara Dacono De Beque Deer Trail Del Norte Delta Denver Dillon Dinosaur Divide Dolores Dove Creek Drake Dumont Dupont Durango Eads Eagle Eastlake Eaton Eckert Eckley Edgewater Edwards Egnar El Jebel Elbert Eldorado Springs Elizabeth Empire Englewood Erie Estes Park Evans Evergreen Fairplay Firestone Flagler Fleming Florence Florissant Forest Lakes Fort Carson Fort Collins Fort Garland Fort Lupton Fort Lyon Fort Morgan Fountain Fowler Foxfield Franktown Fraser Frederick Frisco Fruita Fruitvale Galeton Garcia Gardner Gateway Genoa Georgetown Gilcrest Gill Glade Park Glen Haven Glendale Glenwood Springs Golden Granada Granby Grand Junction Grand Lake Granite Grant Greeley Green Mountain Falls Greenwood Village Grover Guffey Gulnare Gunnison Gypsum Hamilton Hartman Hartsel Hasty Haswell Haxtun Hayden Henderson Hereford Hesperus Highlands Ranch Hillrose Hillside Hoehne Holly Holyoke Homelake Hooper Hot Sulphur Springs Hotchkiss Howard Hudson Hugo Hygiene Idaho Springs Idalia Idledale Ignacio Iliff Indian Hills Jamestown Jaroso Jefferson Joes Johnson Village Johnstown Julesburg Karval Keenesburg Ken-Caryl Ranch Kersey Keystone Kim Kiowa Kirk Kit Carson Kittredge Kremmling La Jara La Junta La Salle La Veta Lafayette Lake City Lake George Lakewood Lamar Laporte Larkspur Las Animas Lazear Leadville Lewis Limon Lindon Littleton Livermore Loma Lone Tree Longmont Louisville Louviers Loveland Lucerne Lyons Mack Maher Manassa Mancos Manitou Springs Manzanola Marble Marvel Masonville Matheson Maybell Mc Clave Mc Coy Mead Meeker Meredith Merino Mesa Milliken Minturn Model Moffat Molina Monarch Monte Vista Montrose Monument Morrison Mosca Mountain Village Nathrop Naturita Nederland New Castle New Raymer Niwot Northglenn Norwood Nucla Nunn Oak Creek Ohio City Olathe Olney Springs Ophir Orchard Orchard City Ordway Otis Ouray Ovid Padroni Pagosa Springs Palisade Palmer Lake Paoli Paonia Parachute Paradox
Parker Parlin Parshall Peetz Penrose Peyton Phippsburg Pierce Pikes Peak Pine Pinecliffe Pitkin Placerville Platteville Pleasant View Poncha Springs Powderhorn Pritchett Pueblo Pueblo West Purgatory Ramah Rand Rangely Red Cliff Red Feather Lakes Red Wing Redstone Redvale Rico Ridgway Rifle Rockvale Rocky Ford Roggen Rollinsville Romeo Rush Rye Saguache Salida San Luis San Pablo Sanford Sargents Schriever AFB Sedalia Sedgwick Segundo Seibert Severance Shawnee Sheridan Sheridan Lake Silt Silver Plume Silverthorne Silverton Simla Slater Slick Rock Snowmass Snowmass Village Snyder Somerset South Fork Springfield Starkville Steamboat Springs Sterling Stoneham Stonington Strasburg Stratton Sugar City Superior Swink Tabernash Telluride Telluride Thornton Timnath Toponas Towaoc Trinchera Trinidad Twin Lakes Two Buttes Vail Vernon Victor Vilas Villa Grove Virginia Dale Vona Walden Walsenburg Walsh Ward Watkins Weldona Wellington Westcliffe Westminster Westminster Weston Wetmore Wheat Ridge Whitewater Widefield Wiggins Wild Horse Wiley Windsor Winter Park Wolcott Woodland Park Woodrow Woody Creek Wray Yampa Yellow Jacket Yoder Yuma
Foreign Investment in Colorado Real Estate