I am from europe, visiting Florida on a 6 month Visa.
I have a US LLC
, registered in Wyoming.
The LLC owns 2 residential properties
, both in Florida .
I want to sell one or both.
The house I want to sell now will be sold for between 300 000 and 500 000.
I bought it for 300 000 in November 2012.
I have also invested in some costly upgrades.
My questions below will only be of interest
if I make a profit:
Do I have to own the house/s for a certain time to reduce taxes
Is there any tax if I reinvest the sales
profit within a certain time frame?What are the rules
for reinvesting ?, and does it matter if seller is as a foreigner or an LLC?
If I get a tax ID
, does this imply that I have to file future taxes in the US every year even those years when I dont have any income
I have been told that a certain % of the sales price be withheld due to the fact that I am not a US Citizen?
does the time-owned factor influence the withheld amount?
Is there a way to legally avoid the withholding
? What if the LLC owner hires a US citizen as director?
Will the withheld amount be payd back to me?
Would it be more beneficial for me to own the house in my personal
What are the rules if I rent one of the houses?
Other tax or legal concerns?
Please also advise me of the fees for your services.
Tel + 1(NNN) NNN-NNNN