Abalos & Associates, PLLC Releases Podcast on Foreign Ownership of U.S. Real Estate
Summary
Phoenix, AZ, October 30, 2011 --( Quotes: “With the weak dollar and sluggish economy, some foreign investors see U.S. real estate as a potential gold mine to reap rewards without considering the considerable taxation they can face in pursuing the option,” said Abalos.Abalos & Associates, PLLC is nationally recognized as a leader in public policy, legislation and privately held business issues, and has been consistently recognized among the top accounting firms in the state by Arizona Business Magazine.In the podcast, Emily Dambrink, senior associate at Abalos & Associates, discusses the requirements for foreign investors to buy real estate in the United States and whether they need a special visa to own, remodel or rent that property, and the tax advantages and consequences of such purchases, including what conditions would cause a Canadian to be considered a U.S. resident for income tax purposes and required to file a U.S. tax return.Also discussed are whether the gain from the disposition by a foreign investor of an interest in a U.S. Real Property Holding Corporation is taxable, and why estate planning is an essential element for Canadians or other foreign investors wanting to buy and own U.S. real estate.The podcast is available for download at http://abaloscpa.com/newsworthy/podcasts.Quotes:“With the weak dollar and sluggish economy, some foreign investors see U.S. real estate as a potential gold mine to reap rewards without considering the considerable taxation they can face in pursuing the option,” said Abalos.