Foreign investment in Arizona (AZ) real estate is constantly growing. It seems that foreign investors crave a healthy variety of real estate, such as single family homes, commercial buildings and apartment buildings. With the turnaround in the market, this investment stands to increase in the coming years. All forms of investment, including that of foreign clients, will only continue to increase with our growing economy.
However, foreign investors do not often understand the tax issues associated with foreign ownership in US real estate. They often have many important questions, including the following:
- How am I taxed at the federal level?
- How am I taxed at the state level?
- What is the due date for tax returns?
- Are there any elections that need to be filed?
- How do I get a tax ID #?
- How much will I be paying to file a return?
- Can my overall tax bill be lowered?
There is a plethora of issues facing foreign investors in Arizona real estate that needs to be addressed. Many tax professionals and CPA firms do not seem to have what it takes to properly address and resolve these concerns. At Sundin & Fish, PLC, we operate on a three-step process for tackling any issues our foreign clients may be facing.
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.
We then review all your relevant tax documents, and if applicable, coordinate with your real estate property management company to obtain the income and expense information for your real estate. This process ensures that you have a smooth, quick, and efficient tax filing experience. It is not uncommon for clients to have lost receipts and other tax documents. We make sure to maintain and review your settlement statements, as well as any other documents regarding your real estate.
Lastly, we finalize your AZ state and federal tax returns and review the results with you. To ensure that you are maximizing your tax deductions and minimizing your tax liability, your tax and real estate situation is again reviewed and analyzed. 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 already help many foreign clients who have purchased real estate throughout the state of Arizona, but there is room for plenty more We have a team of tax professionals that can help you every step of the way. Do not fear the IRS or the state of Arizona, for there are many options available to you at Sundin & Fish, PLC.
Any CPA or accountant can help you pull your tax documents together, but many are not qualified to deal with foreign investors or experienced in the issues they may be facing. 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 AZ cities and communities:
Aguila Ajo Alpine Apache Junction Arizona City Avondale Benson Bisbee Black Canyon City Buckeye Bullhead City Bylas Cameron Camp Verde Carefree Casa Grande Casas Adobes Cascabel Cashion Cave Creek Central Chambers Chandler Chandler Heights Chino Valley Chloride Cibicue Clarkdale Clay Springs Claypool Cochise Colorado City Coolidge Cornville Cortaro Cottonwood Crown King Dateland Dewey Douglas Dragoon Duncan Eagar Ehrenberg El Mirage Elfrida Elgin Eloy Fairbank Flagstaff Flagstaff Florence Forest Lakes Fort Apache Fort Defiance Fort Huachuca ort Mohave Fort Thomas Fountain Hills Fredonia Gadsden Ganado Gila Bend Gilbert Glendale Globe Golden Valley Goodyear Grand Canyon Green Valley Greenehaven Greer Guadalupe Happy Jack Hayden Heber Hereford Higley Holbrook Hope Hotevilla Houck Huachuca City Hualapai Humboldt Indian Wells Jerome Kingman Lake Havasu City Lake Montezuma Lake Powell Lakeside Laveen Litchfield Park Littlefield Luke AFB Lukeville Marana Marble Canyon Maricopa Mayer McNary McNeal Meadview Mesa Miami Mohave Valley Mount Lemmon Munds Park New River Nogales North Rim Nutrioso Oatman Oracle Oro Valley Overgaard Page Palo Verde Palominas Paradise Valley Parker Parks Patagonia Paulden Payson Peach Springs Pearce Peoria Peridot Phoenix Picacho Pima Pine Pinedale Pinetop Prescott Prescott Valley Quartzsite Queen Creek Red Rock Red Valley Rico Rimrock Rio Rio Verde Sacaton Safford Saint Johns San Carlos Sanders San Tan Valley Sawmill Scottsdale Second Mesa Sedona Seligman Sells Shonto Show Low Sierra Vista Skull Valley Snowflake Solomon Somerton Sonoita Sonora Spring Valley Springerville Stanfield Sun City Sun City West Sun Lakes Sun Valley Supai Superior Surprise Tempe Thatcher Tolleson Tombstone Tonalea Tonopah Tonto Basin Tortilla Flat Tuba City Tubac Tucson Vail Verde Valley Vernon Waddell West Sedona White Mountain Lake Wickenburg Wikieup Willcox Williams Winkelman Winslow Wittmann Yarnell Young Youngtown Yucca Yuma