Buying properties in USA Florida

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Member since 29 March 2010

rapalaMember29 March 2010 10:57:08

Can someone tell me the possibility and the advantages for buying (as a non resident foreigner) a property in Florida via a LLC (Limited Liability Company) instead of buying directly under my own name???? I have already a property there that I bought directly, but was said that when selling back I will have to pay taxes. Buying through a LLC would exempt payment of such taxes when reselling the assets.

Minerva909 Active member

Member since 19 September 2007

Vivere non est necesse, navigare necesse est!

Minerva909Active member09 June 2010 14:33:17

If there is a gain, SOMEBODY - be it an LLC, corporation or an individual - has to pay the taxes.

cat32204 Member

Member since 20 February 2011

cat32204Member20 February 2011 21:02:00

The LLC or individual will have to pay capital gains no matter what. Now if your tax attorneys can figure out a way to sell it for a loss without bankrputing you when the time comes or perhaps donate it to a charitable entity perhaps as a home for unwed mothers or battered women/children then you may not have to pay anything on it. I cannot empahsize this enough: check with a reputable tax attorney in the area. Best of luck to you.

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