Hi All, Will there be withholding tax for a Canadian Investor who is already filing his taxes in US both Corporate and Personal(Non Resident)?
How is this tax % decided? It is about a Single Family Residence in Ohio.
A) if you use a property management company to manage the property, they may be required to withhold on the gross payments given to you.
B) If you decide to sell the home, you may be required to withholding based on on FIRPTA(foreign investment in real property tax act)
I dont have any property management company.
As per B option-It means I need hold some money in my business account? or Title company will hold? Sorry! Did not understand. I will file my returns at the end of the year as per schedule.