Jet Setter Show
JS 96: What Foreigners Need to Know When Purchasing Property in the United States with Chris Picciurro CPA
Jason welcomes Chris Picciurro on the show to talk about taxes. He is the co-found of Integrated Financial Group as well as a CPA. He specializes in taxes for non-resident and non-US citizens looking to purchase property in the United States and he also has some great advice to give for US citizens looking to purchase overseas. On the show, Jason and Chris break down some of the complicated tax laws that are only applicable to non-residents such as estate taxes, withholding tax, and much, much more.
Key Takeaways:
3:00 – What are some things foreigners need to consider when purchasing a property?
8:10 – Foreigners would have to file a 1040nr.
14:30 – As a non-resident you're only allowed to transfer $60,000 worth of assets, but there are ways around this. Chris explains.
23:15 – Chris explains what a tax treaty is.
25:10 – In this segment Chris goes into what US citizens need to know when buying property overseas.
28:30 – When US citizens move overseas to work, you get a foreign income exclusion of $100,000.
31:40 – If your entity made money and you did not take that money out, would you still have to pay taxes? Chris explains.
Mentioned In This Episode:
http://www.integratedcpa.com/
http://nta.integratedfg.com/
https://twitter.com/picccpa