There is extensive growth of foreign investment in Connecticut (CT) real estate. Foreign investors are constantly on the lookout for various types of properties, such as commercial buildings, apartments, and single family homes. This investment will only increase as the real estate market continues to expand.
Unfortunately, many foreign investors are unable to understand the tax issues that are associated with investing in US real estate. Their concerns often include, but are not limited to, the followings:
• How will I be taxed at the federal level?
• How am I taxed at the state level?
• When are my tax returns due?
• Do I have to file any elections?
• How can I acquire a tax ID?
• How much does it cost to file my returns?
• Are there any tax strategies I can implement to lower my overall tax bill?
Foreign investors come across countless tax issues, including the ones listed above, and these concerns must be dealt with properly. Many tax professionals and CPA firms unfortunately do not seem to have what it takes to tackle these problems. We, on the other hand, have much experience in this sphere of tax filing, and are able to address and resolve any and all concerns you may have with our three-step process.
The first step of this process involves reviewing and discussing the client’s tax structure in order to better determine if changes need to be made to the tax structure. This step could result in a lowered tax bill, and possibly even a reduction in the red tape and filing requirements present in the tax filing system of the US.
Second, all of your relevant tax documents are reviewed. If applicable, we coordinate with your real estate property management company to acquire important income and expense information regarding your real estate investment(s). This step ensures that time is saved and the client has an efficient tax filing experience. Your settlement statements and all other relevant tax documents will be properly maintained and reviewed by our highly qualified tax specialists.
The final step in this process is to finalize your CT state and federal tax returns and review the results with you. To ensure that you are maximizing your tax deductions and minimizing your tax liability, your tax and real estate situation is again reviewed and analyzed. Our ultimate goal in any tax situation is to reduce your overall tax bill and ensure that your returns contain no “red flags”.
We have helped, and continue to help, many foreign clients with investments throughout the state of Connecticut. Our team of tax professionals is able and ready to assist you every step of the way. Do not fear the IRS or the state of Connecticut, for there are many options available to you at Sundin & Fish, PLC.
Any CPA has the ability to assist in pulling your tax documents together, but they may not be particularly experienced in handling the tax issues facing foreign investors. As a firm who is competent in dealing with your potential tax concerns, we are able to review your situation and tackle any and all of your foreign investment concerns. Call us today at 480-361-9400.
Serving the following CT cities and communities:
Abington Allingtown Amston Andover Ansonia Ashford Avon Ballouville Baltic Bantam Barkhamsted Beacon Falls Berlin Bethany Bethel Bethlehem Bishops Corner Bloomfield Bolton Botsford Bozrah Branford Bridgeport Bridgewater Bristol Broad Brook Brookfield Brooklyn Burlington Canaan Canterbury Canton Canton Center Centerbrook Central Village Chaplin Cheshire Chester Clinton Cob Cobalt Colchester Colebrook Collinsville Columbia Cornwall Cornwall Bridge Cos Coventry Cromwell Danbury Danielson Darien Dayville Deep River Derby Durham East Berlin East Canaan East Glastonbury East Granby East Haddam East Hampton East Hartford East Hartland East Haven East Killingly East Lyme East Windsor East Windsor Hill East Woodstock Eastford Easton Ellington Enfield Essex Fabyan Fairfield Falls Village Farmington Franklin Gales Ferry Gaylordsville Georgetown Gilman Glasgo Glastonbury Goshen Granby Greens Farms Greenwich Griswold Grosvenor Dale Groton Groton Long Point Guilford Haddam Hadlyme Hamden Hampton Hanover Hartford Hartland Harwinton Hawleyville Hebron Higganum Ivoryton Jewett City Kensington Kent Killingly Killingworth Lakeside Lakeville Lebanon Ledyard Lisbon Litchfield Lyme Madison Manchester Mansfield Mansfield Center Mansfield Depot Maple Hill Marble Dale Marion Marlborough Mashantucket Melrose Meriden Meriden Middle Haddam Middlebury Middlefield Middletown Milford Milldale Monroe Montville Moodus Moosup Morris Mystic Naugatuck New Britain New Canaan New Fairfield New Hartford New Haven New London New London NSB New Milford New Preston Newington Newtown Niantic Noank Norfolk North Branford North Canaan North Canton North Franklin North Granby North Grosvenordale North Haven North Stonington North Westchester North Windham Northfield Northford Norwalk Norwich Oakdale Oakville Old Greenwich Old Lyme Old Mystic Old Saybrook Oneco Orange Oxford Pawcatuck Pequabuck Pine Meadow Plainfield Plainville Plantsville Pleasant Valley Plymouth Pomfret Pomfret Center Poquonock Portland Preston Prospect Putnam Quaker Hill Quinebaug Redding Redding Ridge Ridgefield Riverside Riverton Rockfall Rockville Rocky Hill Rogers Rowayton Roxbury Salem Salisbury Sandy Hook Scotland Seymour Sharon Shelton Sherman Silver Lane Simsbury Somers Somersville South Britain South Glastonbury South Kent South Lyme South Norwalk South Willington South Windham South Windsor South Woodstock Southbury Southington Southport Sprague Springs Stafford Stafford Staffordville Stamford Sterling Stevenson Stonington Storrs Storrs Mansfield Stratford Suffield Taconic Taftville Tariffville Terryville Thomaston Thompson Tolland Torrington Trumbull Uncasville Union Unionville Vernon Vernon Rockville Versailles Voluntown Wallingford Warren Washington Washington Depot Waterbury Waterford Watertown Wauregan Weatogue West Cornwall West Granby West Hartford West Hartland West Haven West Mystic West Simsbury West Suffield Westbrook Weston Westport Wethersfield Whitneyville Willimantic Willington Wilton Winchester Windham Windsor Windsor Locks Winsted Wolcott Woodbridge Woodbury Woodstock Woodstock Valley Yalesville Yantic