Snowbirds need to know: US tax changes

Oct 23, 2018 | Jeremy Goldfarb


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Trump's tax package (changes) brought significant overhaul to the US tax system with much fanfare. Some lesser talked about changes might have affected the way snowbirds think about owning property. 

 

The advisor article attached here looks at a few key components of those changes including:

 

1- Ownership of personal property in a corporation, personally or in a cross border trust

2- Estate tax inclusion changes

3- Need to know comments on owning property in a corporation (bet you didn't know about phantom income)

 

Not an uncommon question among my clients so if you are curious about your US property purchase, consider giving us a call.