What are the State, Federal, and Canadian tax implications of owning and buying U.S. real estate?
That’s an easy one. Yeah, right! There are a myriad of tax implications at the U.S. State and Federal level and, of course, the CRA will also have their hands in your pocket. This is such an important question that the best and only way we can answer it is to let you know that it is imperative that you contact an experienced cross border tax planning professional or financial advisor to help you with tax planning strategy. For the most part, your tax implications are going to be most apparent when you sell and are taking profits, but you will also have to address annual tax planning if you are purchasing income producing properties and will also depend on whether you are considered a “resident alien” or a “non-resident alient.” Talk to you tax professional. You’ll be glad you did. If you don’t have one, we’ve got some great tax professionals we can refer you to who will help you make informed and wise decisions. Please ask us for help if you need a name and number. DISCLAIMER ***The Ca
