Part 2 of 2
Foreign buyers who successfully cross financing hurdles then need to consider the most prudent way to hold title to real estate.
Lawyers often advise investors — whether foreign or domestic — to purchase property as a limited liability corporation (LLC).
The chief advantage is that LLCs shields their members from financial claims in excess of the value of the real estate. In other words, an individual’s others assets are protected.
However, Continue reading
Home equity loans have regained some of their popularity in the wake of the housing crisis.
But borrowers need to be clear about the extent of their tax deductibility — at least until (and if) Washington completes wrangling over the deficit. You’ll find the nitty-gritty in a 16-page PDF published by the IRS, from which I’ll try to furnish just the broadest of strokes.
In essence, you can deduct no more than $100,000. Except. . . Continue reading