If you live outside the US and invest in the US, there are a number of things you need to avoid. If you don’t ask the right questions or don’t have the right advisors, you can end up paying a lot more in taxes, tax return preparation and risk all of your assets.
Here are some of the questions you need to ask yourself:
- Do you know how to avoid the mandatory 30% withholding on any income you receive?
- Do you know how to avoid the 10% withholding if you sell real estate in the US?
- Do you know how to get a legal Social Security number substitute?
- Do you know the cheapest, easiest way to file a tax return?
- Do you know how to avoid paying double for your tax return preparation by needing 2 returns, instead of just one?
- Do you know how to avoid paying thousands of dollars in tax preparation fees by starting with the right business structure?
You don’t need to know all the answers yourself, but you do need to get experts who can help you. Unfortunately, there are unscrupulous people preying on foreign investors with exorbitant fees and dodgy tax schemes. Even worse, these people don’t have the necessary credentials to work with the US.
Do NOT work with anyone who does not have a CPA or EA license or who is not an attorney. If you deal with someone without the right licenses and they set you up wrong, you’ll pay the price.
We can set you up right, right from the start. Or, if you’ve already discovered you have a problem, we can fix it.