Non-Resident Property Owners

NY Non-Resident Property OwnersInemer, Cohen & Wolf LLP advocates careful, proactive tax planning strategies for individuals and families who own property in New York. As a real estate accounting professional and tax advisor we can help you save considerable money on your taxes while making sure you are compliant will all current New York state and U.S. tax laws.

Each situation is unique so we take the time to understand how a variety of elements can affect your tax liability, then devise a plan to ensure you never pay more than you owe. We offer assistance with U.S. estate taxes, FIRPTA compliance, entity selection, and more. We'll clearly explain all your options to help you get the most out of your investment so you can benefit from your property for years to come.

Our real estate accounting services for non-resident property owners includes:

  • Strategic tax planning
  • Outsourced accounting management
  • Outsourced bookkeeping
  • Lease analysis and review
  • Rent roll preparation and posting
  • Analyze and apply cash receipts to tenant accounts receivable
  • Accounts payable review and general ledger accounting
  • Ensuring compliance with management contracts
  • Monthly and quarterly accruals
  • Assistance with income tax withholding when selling real estate (FIRPTA compliance)
  • Assistance with U.S. estate taxes and reducing U.S. estate tax burden.
  • Guidance on tax elections to receive lower income tax rates on rental homes
  • Help selecting the right entity to minimize U.S. taxes

Call Inemer, Cohen & Wolf LLP at 212-944-2555 today to find out how we can ensure your financial reporting is accurate and help you save money on taxes. You can also sign up for a consultation online.