I agree - any stresses peple have today, would be far outweighed by having IRS and the Inland Revenue on their doorstep.It amazes me that some people seem to think they dont have to pay US tax as they're British and then dont have to pay the related UK tax as its property in US. Admittidly alot of agents brochures lead one to believe its all tax free.
I believe my return would be relatively simple, just 2 properties. I keep good records as I have UK properties and do our UK tax returns myself. We also have a rental agent in US, who supplies good records.
I contacted a few Uk accountants with US experience, but not too many were property related and they charged £500 per person for State and federal returns. I contacted a couple of random US ones in NYS, again hard to find one with much property experience or much non resident experience. Estimates of $200-$500 per person.
I then contacted the US accountant that Brennan properties (who I brought off) recommended. It would be him that was doing my return, not an unnamed person in the office and he sounded very confident about the entire process. I'm assuming he has at least some of Brenans clients, so this is familiar terrritory. He estimated it would take 4-6 hours to do my and my partners 2 returns (4 in total) and would cost $5/600 total.
So, I think I'm going to use him. at least for the first year and hopefully be able to do it myself next year.
What did you find?
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