Everybody’s doing it. Its the latest "it". Btw it ain’t sex I'm talking about… "it’s", going down south and buying a piece of Americana. It’s seriously become almost as big as the Spice Girls. Well almost.
We’ve posted on here before about things you’ll want to consider when buying property in the US including a couple of the big no no’s to watch out for. One such issue is paying maintenance fees in empty HOA’s and condo complexes.
So whenever I talk to someone else who’s on their way to buy some American property I simply ask: "How did you solve that IRS thing?" “Huh?” is their usual reply. “You know, that IRS filing thing that can have major implications on your estate?”.
I’m no tax expert but there is some legislation between the U.S. and Canada about a reciprical tax treaty enabling one another to go after tax cheats. Of course you're not a cheat, at least not deliberately.
So if you don’t know what I’m talking about, and you’re buying some property south of the 49th you better get some tax advice eh!
