All Topics / Overseas Deals / US Tax advice
Hi all,
I know this topic frequently comes up although I am rather frustrated with 'US tax specialist' unable to provide answers with regards to the best method for myself to set up my structure prior to forming an LLC.
I have been in contact with a US attorney who will assist me with the LLC set up (I am purchasing in NY) although has suggested I speak to a tax specialist and get my structure set up to maximise tan benefits etc. Anyways, 1 US tax expert just told me to go ahead with LLC set up under my name and we'll deal with tax issues when tax returns are due. The other specialist I spoke with did not know anything about NY LLC laws and regulations and i found myself providing him with the information I simply found on the NY tax laws website. The 3rd person i spoke to was going to charge me $15,000 for their advice (i got recommended to this company by a friend – I was unaware they deal with large businesses and can afford to charge this much!)After learning that it generally takes a min of 2 weeks for these people to respond to emails, 8 weeks has gone by and I am still in no mans land. The questions I am seeking revolve around what should the LLC come under – my name, trust or business. Or more specifically the 3 questions are below;
(1) If there is $100 worth of net rental income on a USA property owned by the LLC what Federal, State and Local and City Taxes would be applied so I can determine my after tax return?
(2) If the LLC was to remit a dividend to (name) in Australia what US withholding tax would be applied? If so would it be a final tax in the US?
(3) If either an Australian resident company or a discretionary trust purchases the USA property can you please apply questions 1 and 2 above in this ownership context.
Can anyone help me out?
Hi Edmond.
Send your questions to an Aussie mate of mine at [email protected] who specialises in helping Aussie's deal with the legalities of LLC's and all the other legal's and tax requirements associated with setting up for US investing. Any problems, feel free to send me an email below and I can get you some solid answers fast.
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