Foreign investment in Montana (MT) real estate is constantly growing. It seems that foreign investors crave a healthy variety of real estate, including commercial buildings, single family homes, and apartment buildings. This investment will only continue to increase as the real estate market continues in its upward development.
Many foreign investors, however, have trouble understanding the many tax issues they may encounter in the process of filing their taxes with the US government due to their foreign investment in Montana real estate properties. They often have a plethora of important inquiries, including the following:
• What is the due date for tax returns?
• How am I taxed at the state level?
• How am I taxed by the federal government?
• How do I obtain a tax ID#?
• What does it cost to file my return?
• Can my overall tax bill be lowered?
• Are there any elections that need to be filed?
A lot of tax professionals unfortunately do not have the know-how required to address and resolve these foreign investors’ questions. To conquer these potential tax concerns, and many more not listed, we at Sundin & Fish, PLC apply a three-step process for filing foreign clients’ tax returns.
First, we review and discuss the tax structure for the client and determine if there needs to be a modification to the tax structure. This step is important for potentially lowering the overall tax bill and possibly even reducing the red tape and filing requirements that exist in the US government tax filing system.
Then, we review all of your relevant tax documents and coordinate with your real estate management company to obtain the income and expense information for your investment, if necessary. This step is implemented to ensure time is saved for the client, and you experience efficiency in filing your taxes. Many clients often have lost receipts and tax documents. We make sure your settlement statements and real-estate-related documents are properly maintained and reviewed.
As the final step in this process, we finalize your federal and MT state tax returns and review the results with you. To guarantee that your tax deductions are maximized and your tax liability is minimized, your tax and real estate situation is again reviewed and analyzed. Every tax situation is different, but in any case, we aim to reduce your tax bill and file a return that does not contain any “red flags”.
We have helped and look forward to helping many clients throughout the state of Montana who have purchased, or are looking to purchase, real estate. We have a team of experienced and qualified tax specialists looking forward to providing their assistance to you every step of the way. Do not fear the state of Montana or the IRS; there are countless opportunities available to you.
Any accountant or CPA firm is able to help you pull your tax documents together, but many are not equipped with the knowledge and skills required to resolve your tax filing concerns as a foreign investor. As a firm who is competent in dealing with these issues, we are able to review your situation and tackle any and all of your foreign investment concerns. Call us today at 480-361-9400.
We serve the following Montana (MT) cities and communities:
Anaconda Baker Belgrade Big Sky Big Timber Bigfork Billings Bozeman Browning Butte Chinook Choteau Columbia Falls Conrad Cut Bank Dillon Ennis Eureka Glasgow Glendive Great Falls Hamilton Hardin Havre Helena Kalispell Laurel Lewistown Libby Livingston Malta Miles City Missoula Plentywood Polson Poplar Red Lodge Ronan Roundup Shelby Sidney Stevensville Whitefish Wolf Point