Foreign investment in Ohio (OH) 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 Ohio 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 OH 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 Ohio 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 Ohio 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.
Serving the following Ohio (OH) cities and communities:
Aberdeen Ada Adamsville Addyston Adelphi Adena Adrian Airport Akron Albany Alexandria Alger Alledonia Alliance Alpha Alvada Alvordton Amanda Amelia Amesville Amherst Amlin Amsden Amsterdam Anderson Andover Anna Ansonia Antwerp Apple Creek Arcadia Arcanum Archbold Arlington Ashland Ashley Ashtabula Ashville Athens Attica Atwater Augusta Aurora Austinburg Austintown Ava Avon Avon Lake Bainbridge Bainbridge Bakersville Baltic Baltimore Bannock Barberton Barlow Barnesville Bartlett Barton Bascom Batavia Bath Bay View Bay Village Beach City Beachwood Beallsville Beaver Beavercreek Beaverdam Bedford Bedford Heights Bellaire Bellbrook Belle Center Belle Valley Bellefontaine Bellevue Bellville Belmont Beloit Belpre Benton Ridge Bentonville Berea Bergholz Berkey Berlin Berlin Center Berlin Heights Bethel Bethesda Bettsville Beverly Bexley Bidwell Big Prairie Birmingham Blacklick Bladensburg Blaine Blakeslee Blanchester Blissfield Bloomdale Bloomingburg Bloomingdale Bloomville Blue Ash Blue Creek Blue Rock Bluffton Boardman Bolivar Botkins Bourneville Bowerston Bowersville Bowling Green Bradford Bradner Brady Lake Brecksville Bremen Brewster Brice Bridgeport Bridgetown Brilliant Brimfield Brinkhaven Bristolville Broadview Heights Broadway Brook Park Brookfield Brooklyn Brookpark Brookville Brownsville Brunswick Bryan Buchtel Buckeye Lake Buckland Bucyrus Buffalo Buford Burbank Burghill Burgoon Burkettsville Burlington Burton Butler Byesville Cable Cadiz Cairo Calcutta Caldwell Caledonia Cambridge Camden Cameron Camp Dennison Campbell Canal Fulton Canal Winchester Canfield Canton Carbon Hill Cardington Carey Carlisle Carpenter Carroll Carrollton Carthagena Casstown Castalia Catawba Cecil Cedarville Celina Centerburg Centerville Chagrin Falls Chandlersville Chardon Charm Chatfield Chauncey Cherry Fork Chesapeake Cheshire Chester Chesterhill Chesterland Chesterville Cheviot Chickasaw Chillicothe Chilo Chippewa Lake Christiansburg Cincinnati Circleville Clarington Clarksburg Clarksville Clay Center Clayton Cleveland Cleveland Heights Cleveland USCG Cleves Clifton Clinton Cloverdale Clyde Coal Run Coalton Coldwater Colerain College Corner College Hill Collins Collinsville Colton Columbia Station Columbiana Columbus Columbus Grove Commercial Point Concord Conesville Conneaut Conover Continental Convoy Coolville Copley Corning Cortland Coshocton Covington Creola Crestline Creston Cridersville Crooksville Croton Crown City Cuba Cumberland Curtice Custar Cutler Cuyahoga Falls Cuyahoga Heights Cygnet Cynthiana Dalton Damascus Danville Day Heights Dayton De Graff Decatur Deerfield Deersville Defiance Delaware Delhi Delhi Township Dellroy Delphos Delta Dennison Derby Derwent Deshler Dexter City Diamond Dillonvale [Hamilton County] Dillonvale [Jefferson County] Dola Donnelsville Dorset Dover Doylestown Dresden Dublin Dunbridge Duncan Falls Dundee Dunkirk Dupont East Canton East Claridon East Cleveland East Fultonham East Liberty East Liverpool East Palestine East Rochester East Sparta East Springfield Eastlake Eaton Edgerton Edison Edon Eldorado Elgin Elida Elkton Ellsworth Elmore Elmwood Place Elyria Empire Englewood Enon Etna Euclid Evansport Evendale Fairborn Fairfield Fairlawn Fairpoint Fairport Harbor Fairview Fairview Park Farmdale Farmer Farmersville Fayette Fayetteville Feesburg Felicity Findlay Flat Rock Fleming Fletcher Flushing Forest Park Fort Jennings Fort Loramie Fort Recovery Fostoria Fowler Frankfort Franklin Franklin Furnace Frazeysburg Fredericksburg Fredricktown Freeport Fremont Fresno Friendship Fulton Fultonham Gahanna Galena Galion Gallipolis Galloway Gambier Garfield Heights Garrettsville Gates Mills Geneva Geneva on the Lake Genoa Georgetown Germantown Gettysburg Gibsonburg Girard Glandorf Glencoe Glendale Glenford Glenmont Glouster Gnadenhutten Gomer Gordon Goshen Grafton Grand Rapids Grand River Grandview Hghts. 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