World Tax for buying Real Estate in the US

[gottatango]

Hi all,

I was told this morning that the US has a Bill in place to be presented that says that there will be a world tax put on purchasing and selling US Real Estate. Is that true and does any one have any information (facts) on this? The long and short of it is that any foreigner who buys properties in the states will have to pay this thing call the "World Tax" indefinitely.

Thank you,
Adrian

 

[DonCampbell]

Hi,

That is the smallest tax concern when buying in the US as a foreigner. monthly withholding tax, capital/estate tax, Visa for managing property, currency risks, renovation deduction and most importantly - the economic fundamentals.

Take a listen to the September REIN Workshop CD`s as we had our resident tax expert explain many of the key items one must pay attention to BEFORE buying in the US (just because it sounds `cheaper than it was).

Accountants Navaz Murji and George Dube (in the Members`s Resource Directory on this site) have investigated this thoroughly.

 

[gottatango]

Thank you Don.

Much appreciated! Now I will have ammunition when someone says "Why don`t you buy in the States when it is so cheap. Why would you buy here? The boom is over!!!"