luxury

Luxury Living in Florida

Are you looking to settle in the beautiful state of Florida? You are in good company. Florida residents enjoy an abundance of sunny days and beautiful beaches. If you are looking for a lifestyle of true luxury in Florida, you can’t go wrong with these four Florida hot spots. Miami In a 2009 study, Miami was named the “Richest City in the United States.” It is also the fifth strongest city in regards to purchasing power. Miami hosts the largest concentration of international banks in the U.S. as well. In 2008, Miami, Florida was ranked as “America’s Cleanest City” by Forbes magazine. This is due in part, to the exceptional air and water quality found there. Miami’s streets are also very clean, as residents participate in city-wide programs for recycling. Positioned along the Atlantic Coastline, Miami’s homes are not short on luxurious features. Multi-million dollar homes feature a unique style of Floridian decor which is specific to Miami. Classified as an “Alpha-World City,” Miami is a leader in culture, business, entertainment and the arts. Miami’s South Beach is a world-known hot spot for tourists and residents alike. Palm Beach Palm Beach, Florida is an exceptionally affluent community with a long […]
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Buying real estate non us resident

Buying real estate non us resident? I. Individually or through a pass-through entity such as an LLC There are buying real estate non us resident advantages. This structure is a lower capital gain rate on the net profit. The rate today is 15%. This will be the case for at least until 2013 when the rate is schedule to go up to 20%. The foreign individual will have to have a U.S tax identification number and file U.S tax returns at time of sale of property or on receipt of rental income. The other advantage to this structure is the elimination of double taxation of income if there are rents received and a profit left over after payment of carrying costs and expenses. The disadvantage of this structure is exposure to the estate tax in the U.S as well as possible probate in Florida courts. This structure also has no confidentiality since the real estate records are completely public. We have been advised by Brazilian counsel that if a Brazilian individual does pay capital gains tax in the U.S on the profit of the sale real estate, this tax will be credited against tax due in Brazil. This should be […]
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