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Tuesdays with Morey - Tax Tips®

Tuesdays with Morey Tax Tips provides Tax Tips for people living and or working outside of the United States. These are citizens of the United States that live or work outside of the country and need valuable information on items concerned with filing their United States Tax Returns. Tuesdays with Morey Tax Tips includes information such as off-shore banking accounts and the requirements for filing and declaring these off-shore accounts. Tuesdays with Morey Tax Tips adds great value to those who are still confused on their tax obligations when living or operating a business off-shore.
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Tuesdays with Morey - Tax Tips®
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Nov 29, 2016

In this episode, Morey and Macarena discuss using international real estate rental income as a deduction on your U.S. taxes. There are many ways your portfolio can be enhanced with international properties, but you need to make sure you do it correctly from the beginning. Contact Glazer Financial to find out how you can make the most of your retirement money!

 

Key Takeaways:

[:54] Planning is important when buying international real estate, even rental property.

[1:31] If your annual salary is over a certain limit, you are limited in the amount you can deduct for your real estate taxes.

[2:00] Net rental income should be your end goal.

[2:29] Foreign assets get you the same tax benefits as if you bought the property in the US.

[3:00] If you have a loss of $10,000.00 you can write it off.

[3:45] Use an income tax return to project how your international real estate purchase will affect your US income tax.

[4:08] How to use net rental income on your taxes even if you have a net rental loss.

[5:00] If the Chinese build a canal in Nicaragua, the property value will rise.

[5:39] You must plan to plan!

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

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