Tax Questions: Foreign Investment in Nevada Real Estate

Foreign investment in Nevada (NV) is continuously increasing. It seems that foreign investors crave a wide variety of real estate, including commercial buildings, apartment buildings, and single family homes. With the now consistently growing real estate market, this investment will only continue to escalate in the coming years.

But many foreign investors do not comprehend all of the tax issues related to foreign ownership in US real estate. The concerns they need to have addressed 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 acquire a tax ID #?
  • What will I be charged to file my returns?
  • Can my tax bill be lowered?

Foreign investors in Nevada real estate have many concerns to be tackled. Many CPA firms and tax specialists just don’t have the necessary understanding and know-how to properly address these issues. Our foreign clients’ problems are resolved through the implementation of our own three-step process.

Initially, we examine and deliberate over the tax structure for the client and determine if an alteration needs to be made to the tax structure. This process could potentially lower the overall tax bill or even reduce the red tape and filing requirements foreign clients often face in filing with the US government.

Second, we review all your applicable tax documents, and if necessary, coordinate with your real estate property management company to acquire the documentation regarding the income and expenses for your real estate. This process will ensure that your time is saved and your return is filed efficiently. Clients often have lost receipts and other tax documents. We make sure to maintain and review your settlement statements and also any other important documents related to your real estate investment and management.

Finally, the federal and state returns are completed and the results are reviewed with you. We are sure to thoroughly review and analyze your situation a final time to ensure that your tax deductions are maximized and your tax liability is minimized. Each situation is different, but our goal is to lower your tax bill and make sure that your returns are reviewed for “red flags”.

We assist foreign clients who have purchased real estate throughout the state of Nevada. Our team of tax professionals can help you every step of the way. Do not fear the IRS or the state of Nevada, for there are many options at your disposal.

Any CPA or accountant can help you pull your tax documents together, but many are simply not qualified to handle the issues facing foreign investors. Our accounting firm is competent in dealing with these issues, and ready for your inquiry. Call us today at 480-361-9400.1

Serving the Nevada (NV) cities and communities of:

Alamo Amargosa Valley Austin Baker Battle Mountain Beatty Beowawe Blue Diamond Boulder City Bunkerville Cal Nev Ari Caliente Carlin Carson City Cottonwood Cove Crescent Valley Crystal Crystal Bay Dayton Deeth Denio Duckwater Dyer East Elko Ely Ely Empire Eureka Fallon Fallon NAS Fernley Gabbs Gardnerville Genoa Gerlach Glenbrook Golconda Goldfield Goodsprings Halleck Hawthorne Henderson Hiko Imlay Incline Village Indian Springs Jackpot Jarbidge Jean Lake Tahoe Lamoille Las Vegas Las Vegas Laughlin Logandale Lovelock Lund Luning Manhattan Mc Gill McDermitt Mercury Mesquite Mina Minden Moapa Montello Mount Charleston Mountain City Nellis AFB Nixon North Las Vegas Oasis Orovada Overton Owyhee Pahrump Panaca Paradise Valley Pioche Rachel Reno Reno Round Mountain Ruby Valley Ruth Sandy Valley Searchlight Silver City Silver Springs Silverpeak Smith Sparks Spring Creek Stateline Sun Valley Tonopah Tuscarora Valmy Verdi Virginia City Wadsworth Wellington Wells Wendover West Wendover Winnemucca Yerington Zephyr Cove