Contact Usif w8BEN has been filled by the foreign owner property, income from rental property still get tax withold. Is that true? What are their exemptions? they hire a manger to rent out the property but still actively pays their own mortgage, hoa, tax and insurance, and sometime find the repair man.
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Tax Professional Answers
John Stancil
A W-8 BEN msut be filed by a nonresident alien who is the beneficial owner of an amount subject to withholding, or if you are an
account holder of an FFI documenting yourself as a nonresident alien. If you are the single owner of a disregarded entity, you are considered the beneficial owner of income received by the disregarded entity. The standard withholding rate is 30% alothough it may be less if there is a treaty in place that specifies a lower rate of withholding.
The withholding is on gross US-sourced income. In the case of a rental, or other types of income, the taxpayer should file the appropriate US tax form, taking allowed deductions for normal business expenses and any other allowed deductions.Any amount withheld in excess of the actual tax liability would be refunded.
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385 weeks ago
account holder of an FFI documenting yourself as a nonresident alien. If you are the single owner of a disregarded entity, you are considered the beneficial owner of income received by the disregarded entity. The standard withholding rate is 30% alothough it may be less if there is a treaty in place that specifies a lower rate of withholding.
The withholding is on gross US-sourced income. In the case of a rental, or other types of income, the taxpayer should file the appropriate US tax form, taking allowed deductions for normal business expenses and any other allowed deductions.Any amount withheld in excess of the actual tax liability would be refunded.
John Stancil
A W-8 BEN msut be filed by a nonresident alien who is the beneficial owner of an amount subject to withholding, or if you are an
account holder of an FFI documenting yourself as a nonresident alien. If you are the single owner of a disregarded entity, you are considered the beneficial owner of income received by the disregarded entity. The standard withholding rate is 30% alothough it may be less if there is a treaty in place that specifies a lower rate of withholding.
The withholding is on gross US-sourced income. In the case of a rental, or other types of income, the taxpayer should file the appropriate US tax form, taking allowed deductions for normal business expenses and any other allowed deductions.Any amount withheld in excess of the actual tax liability would be refunded.
Leave a Comment
385 weeks ago
account holder of an FFI documenting yourself as a nonresident alien. If you are the single owner of a disregarded entity, you are considered the beneficial owner of income received by the disregarded entity. The standard withholding rate is 30% alothough it may be less if there is a treaty in place that specifies a lower rate of withholding.
The withholding is on gross US-sourced income. In the case of a rental, or other types of income, the taxpayer should file the appropriate US tax form, taking allowed deductions for normal business expenses and any other allowed deductions.Any amount withheld in excess of the actual tax liability would be refunded.