Blog

Foreign Investment in Florida Real Estate Creates Tax Questions

Foreign investment in Florida (FL) real estate is growing at an incredible rate. Foreign investors seem to have a healthy appetite for a variety of real estate, including apartments, single family homes, and commercial buildings. With the turnaround in the market, this investment will only increase in the coming years.

But many foreign investors are highly concerned with 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 by the federal government?
  • How am I taxed by the state government?
  • When are the tax returns due?
  • Are there any elections that need to be filed?
  • How do I go about getting a tax ID #?
  • How much does it cost to file the returns?
  • Are there any tax strategies that I can implement to lower my tax bill?

These questions are only a few of the issues that foreign investors are faced with in regards to their potential investment(s) in Florida real estate. It has been our experience that many CPA firms and tax professionals just don’t have the necessary experience to properly address these issues. We address our foreign client concerns through the implementation of a three step process.

First, your tax situation is reviewed and discussed in order to determine if any changes should be made to your tax 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. We can also coordinate with your real estate property management company to obtain the income and expenses for your real estate. This ensures a quick and efficient filing experience. It is not uncommon for clients to have lost receipts and other tax documents. Your settlement statements, as well as any other important tax documents, will be thoroughly and properly maintained and reviewed.

Finally, your FL federal and state tax returns are finalized and reviewed with you. To ensure that your tax liability is minimized and your deductions are maximized, we again review and analyze your situation. Each situation is different, but our ultimate 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 Florida. Our team of highly qualified tax professionals can help you every step of the way. Do not fear the IRS or the state of Florida, as there are many options at your disposal.

Any accountant can pull your tax documents together, but many are not qualified to deal with the concerns foreign investors face in filing taxes with the US government. You need a firm who is competent in dealing with these potential issues. Call us today at 480-361-9400.

Serving the Florida (FL) cities and communities of:

Alachua Altamonte Springs Apalachicola Apopka Arcadia Atlantic Beach Auburndale Avon Park Bartow Belle Glade Belleview Beverly Hills Big Pine Key Blountstown Boca Raton Bonifay Bonita Springs Boynton Beach Bradenton Brandon Brooksville Bunnell Bushnell Callahan Cantonment Cape Canaveral Cape Coral Casselberry Chiefland Chipley Clearwater Clermont Clewiston Cocoa Cocoa Beach Crawfordville Crestview Crystal River Dade City Dania Daytona Beach Debary Deerfield Beach Defuniak Springs Deland Delray Beach Deltona Destin Dunedin Dunnellon Eastpoint Edgewater Eglin AFB Englewood Estero Eustis Fernandina Beach Flagler Beach Fort Lauderdale Fort Myers Fort Myers Beach Fort Pierce Fort Walton Beach Gainesville Green Cove Springs Groveland Gulf Breeze Haines City Hallandale Havana Hernando Hialeah High Springs Hobe Sound Holiday Hollywood Homestead Homosassa Hudson Immokalee CPA ForeignIndialantic Indiantown Inverness Islamorada Jacksonville Jacksonville Beach Jensen Beach Jupiter Key Biscayne Key Largo Key West Keystone Heights Kissimmee Labelle Lady Lake Lake City Lake Mary Lake Placid Lake Wales Lake Worth Lakeland Land O Lakes Largo Lecanto Leesburg Lehigh Acres Live Oak Longboat Key Longwood Loxahatchee Lutz Lynn Haven MacClenny Madison Maitland Marathon Marco Island Marianna Mary Esther Melbourne Merritt Island Miami Miami Beach Middleburg Milton Monticello Mount Dora Mulberry Naples Navarre New Port Richey New Smyrna Beach Newberry Niceville North Fort Myers North Miami Beach North Palm Beach North Port Ocala Ocoee Okeechobee Oldsmar Opa Locka Orange City Orange Park Orlando Ormond Beach Oviedo Palatka Palm Bay Palm Beach Palm City Palm Coast Palm Harbor Palmetto Panama City Panama City Beach Pensacola Perry Pinellas Park Plant City Pompano Beach Ponte Vedra Beach Port Charlotte Port Richey Port Saint Joe Port Saint Lucie Punta Gorda Quincy Riverview Rockledge Ruskin Safety Harbor Saint Augustine Saint Cloud Saint Petersburg Sanford Sanibel Santa Rosa Beach Sarasota Satellite Beach Sebastian Sebring Seminole Shalimar Spring Hill Starke Stuart Summerfield Summerland Key Tallahassee Tampa Tarpon Springs Tavares Tavernier Titusville Trenton Umatilla Valparaiso Valrico Venice Vero Beach Wauchula West Palm Beach Weston Wildwood Williston Windermere Winter Garden Winter Haven Winter Park Winter Springs Yulee Zephyrhills