Foreign Taxpayer Services
Foreign taxpayers face a complex set of tax reporting rules that are quite different from those for U.S. citizens and residents.
We provide accounting and tax services to clients from around the globe. Many of these clients have investments and rental properties in the U.S. which require annual income tax reporting. Proper reporting each year, with knowledge of the rules for foreign taxpayers, can result in lower income taxes and fewer difficulties with the various government agencies which require periodic reports. For example, losses from the years your U.S. vacation property is rented out short-term to others, can offset gains from the sale of the property in a future year; however, special regulations require that you timely file tax returns in order to have those losses apply to the gain from the sale of the property.
Proper income tax reporting for a U.S. property that is not rented out can allow you to add annual carrying costs on the property, such as property taxes and interest on a mortgage, to your cost basis, and thereby reduce the gain on a sale.
We have also provided many other services to foreign taxpayers, including representing them at condominium association meetings, appealing property tax valuations with the county, and representation before the IRS and other authorities.
