The Internal Revenue Service has announced that same sex couples legally married in a state whose laws authorize such a marriage will be deemed to be married for Federal tax purposes, even if they live in a state (such as Florida) that does not recognize such marriage. In other words, the validity of a same … Continue Reading
It is no secret that the South Florida real estate market has been a buying opportunity for wealthy foreigners, in light of the decline in U.S. home prices and the lower value of the U.S. dollar against some foreign currencies. Investors from Canada, Latin America and Europe are buying U.S. real estate for their own … Continue Reading
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
As many Miami residents who earn income abroad may be aware, the United States is one of only two countries in the world that taxes its citizens and residents (collectively, “U.S. taxpayers”) on their worldwide income. Therefore, a U.S. taxpayer that earns only foreign source income will be subject to U.S. federal income tax on … Continue Reading
With a new year comes a new beginning. While New Year’s Day is typically viewed as a chance to start fresh and make changes in our personal lives, for many people New Year’s Day in 2013 took a different tone. Instead of focusing on making New Year’s resolutions, many Americans were focused on the “fiscal … Continue Reading
Foreign Investment In South Florida Real Estate Heats Up According to a recent report, international buyers are driving sales at several large real estate projects in South Florida. The 200-unit Trump Hollywood sold out less than two years after lenders foreclosed on the 41-story oceanfront tower. In Miami-Dade County, all 1,800 units at Icon Brickell … Continue Reading
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
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