Although it may come as a surprise to many, it is no secret that South Florida property values are on the rise. Over the past few years, wealthy Latin Americans and other foreign investors have turned their investment focus to the depressed real estate market in South Florida. Once a market that was flooded with thousands… Continue Reading
Richard Goldstein
Spike in Real Estate Creates Tax Planning Opportunities for South Florida Property Owners
Exit Tax & Expatriation From The United States
Posted in Foreign Investment & Tax Earlier this month, Denise Rich, the wealthy socialite, songwriter and former wife of pardoned billionaire trader Marc Rich, renounced her U.S. citizenship in order to expatriate from the United States and save money on taxes. With an increase in taxes expected to occur in 2013 and the multitude of foreign countries offering a desirable lifestyle (with… Continue Reading
Expiration of the Current Estate Tax Exemption Amount
Posted in Foreign Investment & Tax Under current governing law, every individual has a $5,120,000 lifetime gift tax exemption, which amounts to a $10,240,000 combined lifetime exemption for married couples. But the current lifetime gift tax exemption amount is scheduled to revert back to $1,000,000 in 2013. That makes the remaining months of 2012 a prime time for Miami residents to… Continue Reading