Category: Nonresidents

Ten Things Foreign Investors Need to Know about Buying Real Estate in US

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ITIN You will need to apply an individual taxpayer identification number. An ITIN can help you to fileUS tax return and get your payments.  A request for an ITIN is made on Form W-7. W-8 ECI: If property is used for rental purpose, the IRS requires foreign owner to withhold and pay income tax at […]

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Tax Credits—Some is Better Than Others

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Unlike deductions, tax credits reduce your tax liability by dollar for dollar directly whereas tax deductions reduce your taxable income. Some tax credits can be more valuable than others. Refundable vs. nonrefundable tax credit Tax credits can either be refundable or non-refundable. If the tax credit were a refundable credit, it is not limited by […]

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