Wessen Informationen werden benötigt? Ein „wirtschaftlich Berechtigter“ (Beneficial Owner) ist jede natürliche Person, die direkt oder indirekt: wesentliche Kontrolle über ein berichtendes Unternehmen ausübt Eine natürliche Person übt wesentliche Kontrolle über ein berichtendes Unternehmen aus, wenn die Person eines von vier allgemeinen Kriterien erfüllt: (1) die Person ist ein leitender Angestellter; (2) die Person hat […]
Read MoreBeneficial Owner Reporting under the Corporate Transparency Act
Whose Information is needed? A beneficial owner is any individual who, directly or indirectly: Exercises substantial control over a reporting company An individual exercises substantial control over a reporting company if the individual meets any of four general criteria: (1) the individual is a senior officer; (2) the individual has authority to appoint or remove […]
Read MoreFIRPTA “Tax” Overview
To motivate foreign sellers of real estate to file the required tax returns and to pay applicable income taxes, Congress passed the Foreign Investment in Real Property Tax Act in 1980. This law requires that the buyer withhold (usually through a Title Company or Law Firm) 15% of the amount realized. This amount is then […]
Read MoreAutomatic Estate Tax Lien
The general rule under the Internal Revenue Code is that non-domiciliaries of the United States must include the full value of jointly held property in their gross estate for estate tax purposes. This hits some parties especially hard, such as those who include their spouse as tenants by the entireties or a family member as […]
Read MoreEstate Taxes for Non-Domiciliaries
It generally is understood that those who are domiciled within the United States or those who are citizens of the United States are subject to U.S. Estate taxes. What is less clear to the layman is what it means to be domiciled within the U.S. The general definition found in the Treasury Regulations of domicile […]
Read MoreIs the Foreign Power of Attorney Valid in Florida?
Powers of Attorney are helpful in situations where a person become incapacitated or is otherwise unavailable. Oftentimes, visitors to the United States have General Powers of Attorney in their home country and when something unforeseen happens, they are unable to act because the Power of Attorney is not valid under the Florida Statutes and thus rejected […]
Read MoreTrusts – An Alternative to a Will
A revocable trust is a written document that is very similar in form and function as a Last Will and Testament. However, a Trust has many advantages over a Will. A Trust is very flexible and can be used relatively easily after the Grantor has died by the Successor Trustee to allow the transfer of […]
Read MoreTaxes on Vacation Homes
Non-Residents who rent their homes on a short-term basis a subject to a number of taxes. These include local and State (Tourist and Sales Taxes, respectively) and Federal Income taxes. It is not always easy to comply with the filing requirements but there is hope. If a realtor accepts payments on behalf of a homeowner, […]
Read MoreReal Estate Transfer Part 4 – Parties to the Transaction
The question often arises as to who is involved in the consummation of a real estate transfer. First, there is a realtor who is usually the person who lists the property for sale or who assists in the locating of a suitable property. Realtors are the main point of contact for listings and the first […]
Read MoreReal Estate Transfer Part 3 – FIRPTA Update
To motivate foreign sellers to file the required income tax returns and to pay the appropriate taxes, the United States Congress passed the Foreign Investment in Real Property Tax Act (“FIRPTA”) in 1980. This law has now been substantially changed through the “Protecting American form Tax Hikes Act of 2015” which was signed into law by President […]
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