FIRPTA certificate services provider Florida, USA from Freedomtaxaccounting? We have some of the best tax accountants and consultants in the industry who have got years of experience and expertise in income tax return preparation services. Our tax preparers will work with you and ensure that you get the best income tax refund with complete satisfaction guaranteed. Nonprofit organizations that dedicate their resources to charitable, religious, scientific, or educational purposes may apply for 501 C3 federal tax exemption as a public charity. We can help you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you. See additional info on Tax Accounting.
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FIRPTA stands for the Foreign Investment in Real Property Tax Act of 1980. Contrary to popular belief, this act is not a tax at all, it’s a withholding. Just as the title implies, this withholding was designed to ensure that foreign owners of US property pay their share of taxes on the profits (or gain) when they sell. The IRS rules place the responsibility for withholding potential income tax due in the amount of 15% of the purchase price on the buyer of the real property from a foreign entity. The real property becomes the security for the IRS to ensure that they receive taxes that are due to them. If the payment is not made by the buyer, the IRS can seize the real property (or other assets of the buyer). The buyer should withhold 15% of the gross purchase price unless an exception applies and the withholding can be reduced. All funds must be submitted in a timely manner. The amount withheld must be submitted within 20 days following the day the closing took place. If a withholding certificate was applied for, any required funds must be submitted within 20 days of the withholding certificate notice.
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To be a highly respected professional firm that doesn’t just offer tax, and business services, but to create a professional environment that honors God, and a place filled with peace, and genuine care for the lives of the individuals that enter our office doors. That our clients enjoy peace of mind that their interests are being cared for by a team that enjoys working with them, and one another. To provide businesses, entrepreneurs, and individuals with quality accounting, business advisory, and tax services for the glory of God. To make our clients feel like family, with good communication, and personal care for our client’s success, and prosperity, both financial and spiritual. Read additional information at https://freedomtaxaccounting.com/.