United States

Tax Services for Non-US Residents Owning or Selling Real Property in the U.S.

Are you a non-U.S. resident considering investing in real property in the United States or already own property that you're looking to sell? Navigating the U.S. tax implications of owning or disposing of real estate as a non-U.S. resident can be complex, but our specialized tax services are here to guide you through the process and ensure compliance with U.S. tax laws.

Here's how we can assist you:

1. Tax Planning for Real Estate Investment:

Before making any real estate investments in the U.S., it's essential to understand the tax implications and optimize your tax strategy. You are subject to non-resident withholding tax and certain U.S. tax reporting requirement. We'll help you navigate the complexities of rental income taxation, including withholding requirements, allowable deductions, and potential tax treaty benefits.

2. Ownership Structuring for Non-US Residents:

As a non-U.S. resident, the way you structure your ownership of U.S. real property can have significant tax implications. We'll assess your options and recommend the most advantageous ownership structure, taking into account factors such as liability protection, estate planning considerations, and tax efficiency.

3. Foreign Investment in Real Property Tax Act (FIRPTA) Compliance:

The Foreign Investment in Real Property Tax Act (FIRPTA) imposes withholding requirements on the disposition of U.S. real property interests by non-U.S. persons. We'll ensure compliance with FIRPTA withholding rules, calculate the appropriate withholding amount, and handle all necessary filings (Form 8288-A or Form 8288-B) with the IRS on your behalf.

4. Capital Gains Tax on Principal Home Disposition:

Selling real property as a U.S. person or tax resident may trigger capital gains tax obligations in the U.S. Our team will calculate your capital gains tax liability, explore available exemptions or exclusions, and develop tax-efficient strategies to minimize your tax burden on property disposition. If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.

With Sunstone CPA's comprehensive tax services for U.S. person and non-U.S. residents owning or selling real property in the U.S., you can navigate the complexities of U.S. real estate taxation with confidence. Contact us today to learn more about how we can assist you in optimizing your tax strategy and achieving your financial goals.