Some tax and legal questions regarding buying a property in the US
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From: Forum guests
Greetings,
I have good friends in the US who have been dealing with real estate for years. I recently talked to them and asked if there was a way I could join them and invest. They were happy and offered me some suggestions.
I own a company in Israel and have very clear positions on the levels of risk I am willing to take. As for the money spent, I have no concerns right now, and even if it all evaporates, I won't be in mourning. I am more concerned about taxation and legal matters.
I trust the same bunch with their eyes closed from the perspective of putting money in them, but don't know how well they know the law and how careful they are. I have no desire to engage with Americans in law matters, and I take great care of that in my core business as well. Therefore, I would prefer to run through a company Ltd. Is this a customary thing? What are the current costs of running the company (annual reports, bookkeeping, etc.) and is it in small sums of up to $ 100 worth of money? In addition, how much of this headache will put me in my personal reports and my tax practice in Israel?
I would also love to consult a paid professional.
Thanks,