Foreigners Investing in Florida Real Estate
A Taxing Issue?
By Patricia Tan
Winter was a very busy buying season for Florida real estate – the best we have seen in many years. A large part of the sales activity was down to foreign investors – those whose real home is outside the United States, looking to take advantage of our State’s low property prices and buoyant rental market.
The end of winter also means tax deadlines are looming and it occurred to me that in working with foreign investors, I am often asked questions about how they will be taxed by the U.S. tax authorities. Many investors come here with “knowledge” of our tax system they have gleaned from the internet, friends and relatives. Part of my job as an international realtor is to ensure they maximize their investment potential here, and to do that I need to encourage them to look beyond the “buy-low-sell-high” mantra and what they think they know about U.S. taxes. I advise them to seek the advice of a tax professional. Read More