All Forum Posts by: Kristen Lavallee

Thanks for your reply! Yes, I believe US and Eritrea are the only countries that tax worldwide income on citizens who are not residents. However, other countries do tax worldwide income on residents, such as Spain, and many others. I want to keep these properties US-taxed while I become a resident of another country which would want to tax them.

We have rentals in the US that we would like to keep US-taxed as we consider a move abroad. If we move abroad to a country that taxes worldwide income, the compliance would be really challenging with the new country's tax laws, plus we wouldn't continue to benefit from the depreciation and low rental income taxes that we get in the US on the rentals. Has anyone moved abroad and figured out a way to keep US rental income US-taxed instead of taxed abroad? A US-based LLC or C-Corp taxed as a business rather than as a pass-through, maybe? What are the advantages and pitfalls of using such a structure or strategy?

Thanks!

I am under contract for my first commercial building (12 units). I would like to find out (and the bank has asked) whether any of the tenants have been out of work due to covid19. The seller, the seller's attorney, and even my attorney "think" this is not possible and possibly not legal. Does anyone have accurate information on whether and how one can obtain employment verification on existing tenants as part of due diligence for an acquisition?