U.S. Taxation of Foreign Rental Income: Sourcing of Income Rules, Exemptions, Reporting, and Other Key Issues
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide tax counsel guidance on the U.S. tax treatment of foreign rental income and international real estate investments. The panel will discuss U.S. sourcing of income rules, exemptions, and reporting requirements. The panel will also provide insights into typical structuring options for investors purchasing real estate abroad for purposes of short term and vacation rentals, potential tax implications, and pitfalls to avoid.
Outline
- Source of income rules: an overview
- Taxes on short-term rentals: an introduction
- Rental income issues
- Other income
- Federal tax issues
- Treaty exceptions
- Occupancy and other jurisdictional taxes
Benefits
The panel will cover these and other critical issues:
- International taxation of vacation, short-term, and other rentals
- Federal tax rules and reporting requirements
- Impact of U.S. tax rules on non-U.S. Airbnbs, VRBOs, and other rentals owned by U.S. citizens
- Impact of treaty clauses on general income sourcing rules
Faculty
C. Edward (Ed) Kennedy, Jr., CPA, JD
Managing Director
C Edward Kennedy Jr
Mr. Kennedy has more than 42 years of experience dealing with a variety of international tax matters, specializing... | Read More
Mr. Kennedy has more than 42 years of experience dealing with a variety of international tax matters, specializing in tax consulting services to a wide variety of clients ranging from closely held companies to multi-national businesses. His expertise includes domestic and foreign income and social security tax planning, tax compliance for individuals and corporations, tax treatment of incentive compensation plans, international assignment program administration, and international assignment policy design. Mr. Kennedy has also served as the U.S. practice leader for international social security matters for a Big 4 accounting firm. He is a frequent speaker in the areas of international tax compliance and reporting obligations U.S. information reporting requirements for foreign assets and foreign entities, U.S. tax implications of foreign pension and social security plans, and U.S. income and social tax treaty planning. Mr. Kennedy is a member of the Texas Bar and is licensed as a certified accountant in Georgia and Texas. He has a B.A. from Furman University and a J.D. from Vanderbilt University School of Law.
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Patrick J. McCormick, J.D., LL.M.
Founder/Managing Partner
McCormick Tax
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting... | Read More
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting obligations. He published national articles and given numerous national and local presentations on assorted areas of tax and estate planning law, including international tax and offshore compliance issues. His latest article on PFICs is titled Tax Reporting Implications of Foreign Mutual Funds. He is licensed to practice in the States of New Jersey, Florida, and Georgia, and the Commonwealth of Pennsylvania.
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