AboutRichard Fritzler Expertise I am in the business of tax planning for business owners. Our company helps business owners structure so that they can be reduce the taxes that they owe, making them far more profitable.
Experience Since 1986 I have been helping successful business owners reduce taxes, protect assets, and limit their liability. The company is Owelesstax, incorporated at www.owelesstax.com
Organizations National Small Business Owners Association.
Nevada Association of Listed Resident Agents.
Citizens Legal Association
The Business Owners Institute
Publications Contributing author to "The Corporate Standard Newsletter".
I am also a writer for an email newsletter about business
Googlegroups/Successfulbusiness
I am also an Expert in the areas of Tax Law, Retirement Planning, and Estate tax issues.
Question I have two questions:
1) What are the tax implications if I am a owner/occupier in one unit of fourplex rental property 3 units of which are rented out?
2) Currently I am on a non-immigrant visa to US. Is LLC the only organisation structure available for me to buy and rent out a fourplex?
thanks,
Abhijeet.
Answer 1. You still have to pay personal taxes on the rents received from the other units. Although because you are a foreign national there is more to it. Depending upon the tax treaty between the US and your country, you may also have to pay additional taxes in your home country.
2. An LLC would allow you to pass all the income to you as a foreign national, but I doubt that for tax purposes that is a good option. Since all of that money would be subject to a 30% withholdings before you ever see it.
The far better solution, would be to hold the 4plex in a real corporation. It would have no tax impact on you and the business would enjoy the lowest possible tax.
There is a LOT more that you would need to understand to consider your options.
So call me.
Richard Fritzler
www.owelesstax.com
phone 800 590-6612
