All Forum Posts by: Gary Wolfowicz
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Post: Becoming a landlord and leaving the US
Gary WolfowiczPosted
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Hi all, I'm new to this forum and in need of some advice.
My situation is as follow: I am not a US citizen (French) and will be moving permanently outside the US (Canada) at the end of July. I own an apartment in Chicago which I would like to rent and have accumulated quite a few financial aspects (retirement, …) while living in the US for the past 6 years.
I'm looking for help/advice on the transition where I will go from tax resident to non-resident. And then some long-term advice such as: is it worth creating an LLC for this single apartment which will be my only income in the US? Are there any complications with not being a resident? Or its really not worth the trouble and I'm better off just selling ?
Thanks!