TAX CONCERNS FOR FOREIGN INVESTORS AND U.S. CITIZENS INVESTING ABROAD

By

THOMAS C. ROBERGE & COMPANYCERTIFIED PUBLIC ACCOUNTANTS

U.S. INTERNATIONAL TAX SERVICES

Presented Susan Inez Poskus, CPA

ONE BEACH DRIVE SE, SUITE 220 FACSIMILE 727 823-6781 677 NORTH WASHINGTON BOULEVARDST. PETERSBURG, FLORIDA 33701 Info@RobergeCo.com SARASOTA, FLORIDA 34236TELEPHONE: 727 822-9393 WWW.ROBERGECO.COM TELEPHONE: 941 952-5848

FOREIGN INVESTOR PURCHASING PROPERTY IN THE U.S.

FOREIGN INVESTORTRANSFERING PROPERTY IN THE U.S.

• What is FIRPTA? (The 10% withholding on the GROSS sales price, required anytime a Foreign person sells real estate)

– Definition of Foreign person• Greencard• Other

– Obtaining Relief from the 10% withholding• U.S. Person • Withholding certificate• 300,000 rule

• Other Types of transfer– Gift– Quit Claim– 1031 Exchange – may not be tax free or deferred in home country

– Short Sales» FIRPTA withholding still applies» Reduction in withholding can be requested » Not all short sales result in loss to taxpayer

FOREIGN INVESTORSEstate & Gift Tax Issues

U.S. TAX RESIDENTS & INTERNATIONAL TAX ITEMS

The Company