Q. If so, what about reinvesting in other US property? Or transferring to a child? Then who is laible for the taxes adn how much?
A. Pproperty taxes? No. But any gain on the sale is fully taxable in the US as income.
Transferring property to a child is still considered a taxable transaction, at current market value (so no, you can't 'sell' it for a dollar).
Transferring property to a child is still considered a taxable transaction, at current market value (so no, you can't 'sell' it for a dollar).
Can I write off interest/depreciation or other shortfalls on international investment property on my US tax?
Q. I have an investment property abroad, and it is cashflow negative. I've heard that I can only write off deductions on my US tax at sale, not annually like I would if it were a US property. Can I write off these deductions on my US income tax?
A. What kind of property is it? Rental property you would fill out a Schedule E and report income and expenses each year. Investment property that you are holding to sell in the future would have expenses recognized in the year of sale. From what you are indicating by negative cashflow, I'm assuming that it is rental property. If so you can write off deductions yearly.
How do I find commercial properties for sale by owner?
Q. I need to find commercial properties for sale by owner in any US city. Preferably office buildings, where can I start?
A. You should probably look for a reputable realtor.
Bear in mind that the "For Sale By Owner" people are not trying to save YOU money. They are trying to save THEMSELVES money by avoiding the real estate agent's commission.
Commercial properties can be complicated. You may need an environmental study and other information to obtain a mortgage. If you have never bought commercial property before, you may spend a lot of time and money trying to get everything right, and you will probably need an attorney -- who may cost you a good part of what you hope to save by avoiding a realtor's commission.
Good luck!
Bear in mind that the "For Sale By Owner" people are not trying to save YOU money. They are trying to save THEMSELVES money by avoiding the real estate agent's commission.
Commercial properties can be complicated. You may need an environmental study and other information to obtain a mortgage. If you have never bought commercial property before, you may spend a lot of time and money trying to get everything right, and you will probably need an attorney -- who may cost you a good part of what you hope to save by avoiding a realtor's commission.
Good luck!
Can anyone point out an example of the government requiring us to buy something simply because we are alive?
Q. Taxes are on income, property, & sales, etc and not on us personally.
Car insurance is only required if you want to drive a car.
What have you got?
Car insurance is only required if you want to drive a car.
What have you got?
A. A lot of employer's are required to purchase workers compensation insurance on their employee's from private entities. If you own the company in essence you are required to purchase this for yourself.
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