Property in US (florida)- Expert for capital gain tax for LLC

Does anyone have contact for the service provided on capital gain tax of US property in HK?


The property I am looking at is in Florida as the capital gain tax varies in different state.

I don't full understand your question, but Florida itself does not have a capital gains tax. The US Federal Government does though.

okey, my question is there any tax consultant or accounting consulting company that I can speak to in HK?


Thanks, I am aware there is no capital gain tax for individuals but I got the impression it makes more sense to set up LLC to purchase property, and wonder what's the percentage of profit tax should I expect?


Thank you!

I own property in Florida through an LLC I control and do not pay Florida's corporate profits tax. The LLC acts as a pass through - the income of the LLC is taxable on the shareholder's tax return (K1 form). As such I pay no corporate profits or personal income tax in FL but I do pay US Federal Income Tax on my personal tax return.


You will of course be required to pay standard property tax through the LLC and other general expenses (insurance, etc). There are also annual LLC renewal fees which cost ~$250 USD.


In Florida you should be aware that it is essentially impossible to obtain wind and flood insurance on commercial properties. The government regulated the insurers out of the market and created a public option that is only available to home-owners. If you are planning on getting a loan on your commercial property you will find it prohibitively expensive because the bank will require wind & flood insurance and you will be unable to obtain it.


Assuming that you are not a US citizen, you should be aware that you must still pay US taxes. If you have never dealt with the US tax system before.... you are in for a giant rude awakening to how incomprehensibly complex it is.

Goodness me!

If this is what one is facing in Florida, do be very cautious about investing there:


Floridians Encouraged to Report Neighbors Who “Hate Government”

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$1 million dollar hotline characterizes dissent as extremist threat.


/see: http://www.infowars.com/floridians-encouraged-to-report-neighbors-who-hate-government/

Well. I understand how complicated the tax system is. But I have seen my colleague as non US citizen bought one after one, in 2012 and 2013 respectively. The rental yield is up to 14%, two year worth of rental income cover the cost already.


Also my friend and the family( US citizens) bought 20 houses/flats over US/Canada/china, they are not complaining... I think the point is as long as the pricing point is low enough that generates decent rental yield, then it is still a good investment.


Back to Florida, Miami specifically , Seeing all these new construction and the old construction restarted, all of these adding the development of the port remind me of Shanghai. And it is good sign in my view- although supported by printed money. But then again, there is the new middle class from South America- perhaps it is sufficient enough to sustain the growth?


I have stopped considering the properties there since I read the threads though.