Foreign investment in Tennessee (TN) real estate continues to rise. It seems that foreign investors have a healthy appetite for a variety of real estate, including apartment buildings, single family homes, and commercial buildings. With the new growth in the US real estate market, this investment stands to increase in the coming years.
But many foreign investors don’t understand the tax issues that accompany foreign possession of properties in US real estate. The many queries they need to have answered are inclusive of the following (among others):
- How am I taxed federally?
- How am I taxed at the state level?
- When are the tax returns to be submitted?
- Are there any elections that need to be filed?
- How do I get a tax ID #?
- How much does it cost to file the returns?
- Are there any tax strategies that I can apply to reduce my tax bill?
Foreign investors in Tennessee real estate have countless issues that need to be tackled. It has been our experience that many CPA firms and tax professionals just are not familiar with these concerns, and often have difficulty addressing them. We address our foreign client matters 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 tax structure. This is done to increase the potential of lessening the overall tax bill and even possibly to reducing the red tape and filing constraints.
Next, we review all of your relevant tax documents, and we can also coordinate with your real estate property management company to obtain important income and expense information for your real estate investments. The goal of this process is to save you time and ensure that the filing is efficient. It is not unusual for clients to have lost receipts and other tax files. We make sure to preserve and assess your settlement statements and any other related documents.
Lastly, we finalize your TN state and federal tax returns and review the results with you. We again evaluate your situation to ensure that you are maximizing your tax deductions and minimizing your tax burden. All situations differ, but our ultimate goal for each of our clients 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 Tennessee. We have a team of tax specialists that can help you every step of the way. Do not be alarmed of the IRS or the state of Tennessee. There are numerous opportunities at your disposal.
Any CPA or accountant can aid you in organizing your tax documents, but too many of them are not competent in dealing with foreign investors.
You need an experienced firm who is knowledgeable in dealing with these matters. Call us today at 480-361-9400.
Adams Adamsville Afton Alamo Alcoa Alexandria Algood Allardt Allons Allred Alpine Altamont Andersonville Antioch Apison Ardmore Arlington Arnold AFB Arrington Arthur Ashland City Athens Atoka Atwood Auburntown Bakewell Bartlett Bath Springs Baxter Bean Station Beech Beechgrove Beersheba Springs Belfast Bell Bellevue Bells Belvidere Benton Bethel Springs Bethpage Big Rock Big Sandy Birchwood Blaine Bloomingdale Bloomington Springs Blountville Bluff Bluff City Bogota Bolivar Bon Aqua Braden Bradford Bradyville Brentwood Briceville Brighton Bristol Brownsville Bruceton Brunswick Brush Creek Buchanan Buckle Buena Vista Buffalo Valley Bulls Gap Bumpus Mills Burlison Burns Butler Bybee Byrdstown Calhoun Camden Campaign Carthage Caryville Castalian Springs Cedar Grove Cedar Hill Celina Centerville Chapel Hill Chapmansboro Charleston Charlotte Chattanooga Chestnut Mound Chewalla Christiana Chuckey Church Hill City Clairfield Clarkrange Clarksburg Clarksville Cleveland Clifton Clinton Coalfield Coalmont Cokercreek College Grove Collegedale Collierville Collinwood Colonial Heights Columbia Como Conasauga Concord Cookeville Copperhill Cordova Cornersville Corryton Cosby Cottage Grove Cottontown Counce Covington Cowan Crab Orchard Crawford Crockett Mills Cross Plains Crossville Crump Culleoka Cumberland Cumberland Furnace Cumberland Gap Cunningham Cypress Inn Dandridge Darden Dayton Decatur Decaturville Decherd Deer Lodge Del Rio Delano Denmark Denver Dickel Dickson Dixon Springs Dover Dowelltown Doyle Dresden Drummonds Duck River Ducktown Duff Dukedom Dunlap Dyer Dyersburg Eads Eagan Eagleville East Ridge Eaton Eidson Elgin Elizabethton Elkton Ellendale Elmwood Elora Englewood Enville Erin Erwin Estill Springs Ethridge Etowah Eva Evensville Fairfield Fairview Fall Branch Farner Farragut Fayetteville Finger Finley Five Points Flag Pond Flatwoods Flintville Fosterville Fowlkes Frankewing Franklin Friendship Friendsville Fruitvale Gadsden Gainesboro Gallatin Gallaway Gates Gatlinburg Georgetown Germantown Gibson Glade Gladeville Gleason Goodlettsville Goodspring Gordonsville Grand Junction Grandview Granville GrayGraysville Greenback Greenbrier Greeneville Greenfield Grimsley Gruetli Laager Guild Guys Halls Hampshire Hampton Harriman Harrison Harrogate Hartford Hartsville Heiskell Helenwood Henderson Hendersonville Henning Henry Hermitage Hickman Hickory Hickory Valley Hickory Withe Hilham Hill Hillsboro Hixson Hohenwald Holladay Hollow Rock Hornbeak Hornsby Humboldt Huntingdon Huntland Huntsville Huron Hurricane Mills Idlewild Indian Mound Iron City Isabella Jacks Creek Jacksboro Jackson Jamestown Jasper Jefferson City Jellico Joelton Johnson City Jonesborough Karns Kelso Kenton Kimball Kimberlin Heights Kingsport Kingston Kingston Springs Knoxville Kodak Kyles Ford La Follette La Grange Laconia Lafayette Lake City Lancaster Lancing Lascassas Laurel Bloomery LaVergne Lavinia Lawrenceburg Lebanon Lenoir City Lenox Leoma Lewisburg Lexington Liberty Limestone Linden Livingston Lobelville Lone Mountain Lookout Mountain Loretto Loudon Louisville Lowland Lupton City Luray Luttrell Lutts Lyles Lynchburg Lynn Garden Lynnville Macon Madison Madisonville Manchester Mansfield Martin Maryville Mascot Mason Maury City Maynardville Mc Donald Mc Kenzie McEwen McLemoresville McMinnville Medina Medon Melrose Memphis Mercer Michie Middleton Midway Milan Milledgeville Milligan College Millington Milton Minor Hill Miston Mitchellville Mohawk Monroe Monteagle Monterey Mooresburg Morris Chapel Morrison Morristown Moscow Mosheim Moss Mount Carmel Mount Juliet Mount Pleasant Mount Vernon Mountain City Mountain Home Mulberry Munford Murfreesboro Nashville New Johnsonville New Market New Tazewell Newbern Newcomb Newport Niota Nolensville Norene Normandy Norris Nunnelly Oak Ridge Oakdale Oakfield Oakland Obion Ocoee Old Hickory Oldfort Olivehill Oliver Springs Oneida Only Ooltewah Orlinda Ozone Pall Mall Palmer Palmersville Palmyra Paris Parker’s Crossroads Parrottsville Parsons Pegram Pelham Petersburg Petros Philadelphia Pickwick Dam Pigeon Forge Pigeon Forge Pikeville Piney Flats Pinson Pioneer Plaza Pleasant Hill Pleasant Shade Pleasant View Pleasantville Pocahontas Portland Powder Springs Powell Primm Springs Prospect Pruden Pulaski Puryear Quebeck Ramer Readyville Reagan Red Bank Red Boiling Springs Reliance Riceville Rickman Riddleton Ridgely Ridgetop Ripley Rives Roan Mountain Robbins Rock Island Rockford Rockvale Rockwood Rogersville Rossville Rugby Russellville Rutherford Rutledge Saint Andrews Saint Bethlehem Saint Joseph Sale Creek Saltillo Samburg Santa Fe Sardis Saulsbury Savannah Scotts Hill Selmer Sequatchie Sevierville Sewanee Seymour Shady Valley Sharon Sharps Chapel Shawanee Shelbyville Sherwood Shiloh Signal Mountain Silerton Silver Point Slayden Smartt Smithville Smyrna Snapps Ferry Sneedville Soddy Daisy Somerville South Fulton South Pittsburg Southside Sparta Speedwell Spencer Spring City Spring Creek Spring Hill Springfield Springville Stanton Stantonville Stewart Strawberry Plains Sugar Tree Summertown Summitville Sunbright Surgoinsville Sweetwater Taft Talbott Tallassee Tazewell Telford Tellico Plains Ten Mile Tennessee Ridge Thompson’s Station Thorn Hill Tigrett Tipton Tiptonville Toone Townsend Tracy City Trade Trenton Trezevant Trimble Troy Tullahoma Turtletown Tusculum Tusculum College Unicoi Union City Unionville Vanleer Viola Vonore Walland Walling Wartburg Wartrace Washburn Watauga Watertown Watts Bar Dam Waverly Waynesboro Westmoreland Westpoint Westport White Bluff White House White Pine Whites Creek Whitesburg Whiteside Whiteville Whitleyville Whitwell Wilder Wildersville Williamsport Williston Winchester Winfield Winona Woodbury Woodland Mills Woodlawn Wynnburg