Mortgages in the USA

Mortgages are available for the purchase of property, either as an investment or as your primary residence in the country.

The South Florida property market is currently offering the unique opportunity to withdraw money from your property through refinancing which makes funds available to invest in another investment property from the proceeds of the refinancing transaction.

With interest rates at their lowest level in many years relative to the percentage yield from rentals, it makes sense to consider the financial opportunities that it opens up for astute investors.

Furthermore, surprising as it may sound, it is easier for a foreigner to obtain financing for the purchase of investment properties than residents.

Both banks and private investors are offering excellent interest rates to qualified buyers. The market has expanded, with a lot of money becoming available for property investment.

Often, it is necessary to obtain finance quickly for a variety of reasons. We are in contact with private investors who are prepared to provide funding more quickly than traditional banks, with fewer requirements. Though these types of loans carry a slightly higher interest rate, if the return you can achieve from purchasing an additional rental property exceeds the cost of funding the purchase, then it’s a win for you.

This is especially true for commercial loans where the banks will normally take 6-8 months to approve a loan to a foreigner. This is far too long for a seller to wait for their money when it is possible to find a local purchaser who can find a loan much more quickly.

To allow you to compete effectively in the market, your ability to secure finance quickly through private lending will allow you to purchase properties that would otherwise not be available to you.

Introducing Taxleaf

Moses Nea, CEO of TaxLeaf, Contador Miami, and the founder of Contador America is passionate about helping foreign investors and entrepreneurs find loans and financing for their business, investments, and personal requirements.

As there are many complexities when purchasing an investment property, it is imperative that you have a professional company helping and guiding you each step of the way.

Here’s what one of our successful business owners has to say about the service and support they receive from being partnered with Taxleaf:

Cesar Buenavista, Doral, Fl

“I am an Account Manager with TaxLeaf and have been working with clients for more than 6 years. The technology they provide is incredible. I have access to everything from my phone if I need it. They are very professional and provide excellent support for me and my employees.”

To help you learn more about how Taxleaf can assist you with raising mortgages and other forms of business finance, stop what you’re doing right now and call us now to secure a FREE 30-Minute Consultation with one of our business experts, where we can explain how you can secure the right insurance policy in the USA.

888-Y-TAXLEAF

Life Insurance for Foreigners

Most people don’t know that foreigners can obtain life insurance in the USA

There are many different types of life insurance policies that foreigners can take out in the USA which is very helpful as many foreigners are scared of taking out policies in their own countries.

A lot of foreign clients approach us to discuss various types of insurance as they do not trust the insurance companies in their countries. They have either personally had bad experiences with companies suddenly closing down or just no longer honoring their policies or they know of other people in their country who have had similar experiences.

The result is that policyholders lose all the money that they have paid over to the insurance companies and are left with no life cover or investments and have nothing to show for all the premiums that they have paid over the years.

This does not happen in the USA as the legal system is stronger than in other countries. The insurance industry is governed by more laws and regulations than in other countries. Insurance companies are also much more secure financially both locally and in terms of their worldwide assets and investments.

Due to the many rules and regulations, American insurance companies must conduct their business in a very conservative manner. They manage the risk across many different industries and have many years of experience to help guide them in their decisions.

There are guarantees in place to ensure that policies are paid out no matter what happens. This is especially important if the insurance payments are related to monthly retirement annuities.

Many clients also want to make sure that their children and families have enough money when they die and inheritance tax is not overly burdensome.

Clients also wish to secure their investments in the USA if they feel their country’s economy is weak.

Introducing Taxleaf

Moses Nae, CEO of TaxLeaf and Contador America, is passionate about helping foreign investors and entrepreneurs find the ideal insurance policy for their business, investments, and personal requirements.

Each client is unique, with a range of personal and business circumstances that require careful consideration before selecting the most appropriate insurance products or services.

Here’s what one of our successful business owners has to say about the service and support they receive from being partnered with Taxleaf:

Cesar Buenavista, Doral, Fl

“I am an Account Manager with TaxLeaf and have been working with clients for more than 6 years. The technology they provide is incredible. I have access to everything from my phone if I need it. They are very professional and provide excellent support for me and my employees.”

To help you learn more about how Taxleaf can assist you with your life insurance needs, stop what you’re doing right now and call us now to secure a FREE 30-Minute Consultation with one of our business experts, that will help you secure the right insurance policy in the USA.

888-Y-TAXLEAF

Cryptocurrencies and Investors – Tax and Business Services

ATTENTION! Save $1000’s on Your Taxes

The One Secret the IRS Doesn’t Want you to Know That Could Save You 17% on Your Cryptocurrency Taxes

We all know that investing in cryptocurrencies can be a profitable strategy, but how many of you know the ins and outs of tax law governing investment taxes?

Or even, what to put on your FORM 1040?

What about your Schedule A and Schedule D deductions?

If that sounds a bit confusing, then the information below is vital for your financial wellbeing.

What you’ll learn today can potentially save you thousands in taxes and also help you to avoid any possible penalties or fines that await the unwary investor who doesn’t do their homework or fails to heed their tax professional’s advice.

So, let’s get started…

What You’re Going to Discover In This Article:

  • What are cryptocurrencies?
  • How to invest in cryptocurrencies?
  • How much to invest in cryptocurrencies?
  • Why cryptocurrency investing is risky.
  • When will you profit from trading cryptocurrencies?
  • How to mine cryptocurrency.
  • What costs are involved in investing in cryptocurrency?
  • The two types of wallets you will need to keep your investment safe.
  • How the IRS treats cryptocurrency profits and losses.
  • The pitfalls of buying products and services with cryptocurrency.
  • Calculating your liability for potential capital gains tax and sales tax.
  • Costs, expenses, and capital allowances you can legally use to reduce your tax liability.
  • How Taxleaf can assist you in safely investing in cryptocurrencies.

What are Cryptocurrencies?

Cryptocurrencies are a form of digital cash. Unlike traditional currencies or “fiat” currencies, cryptocurrencies are not backed by governments, nor are they regulated by governments.

Currencies like Bitcoin, Ethereum, Litecoin, and many others are digital tokens or “coins” that exist in a digital ledger referred to as the blockchain.

You can either buy or sell cryptocurrencies using regular cash via an exchange or you can mine cryptocurrencies and receive coins as a reward for solving complex algorithms that are used to verify transactions on the blockchain.

How to Invest in Cryptocurrency

Due to the cryptocurrency industry’s somewhat exotic status, you need to jump through a few hoops to invest, as your local bank or brokerage house is unlikely to have the facilities to process your trades.

But before you jump into trading, a few ground rules need to be put in place first:

  1. As with all high-risk investments, never invest more than 5-10% of your total portfolio in cryptocurrencies. Some advisors would even reduce this to 1-2% maximum of your available investment funds.
  2. Cryptocurrencies do not pay dividends. In this, they are very much like precious metals like gold and silver or other commodities such as oil. You will only profit if there is a significant price increase or if you day-trade the swings in price movements. Buy and hold is a great strategy if the prices increase but you will not receive any income from your investment while you’re waiting for your big payday.
  3. Cryptocurrencies are mediums of exchange. They are not designed as investment vehicles. That means that if interest in your investment currency drops off and fewer and fewer people use it, you could be left with a worthless heap of electrons at the end of the day. Don’t invest what you can’t afford to lose and don’t borrow money to invest in cryptocurrencies.
  4. You can purchase a mining rig and mine cryptocurrencies at home or you can rent space in a server farm and have a professional team look after your equipment for you. The upfront cost of a rig is not cheap, neither is electricity nor is air conditioning to keep everything from melting. The upside is that your cost of mining is a tax-deductible expense.
  5. There are costs involved in trading in cryptocurrencies. These costs are set by the trading platform you choose to use. The larger exchanges offer a secure way to buy and sell cryptocurrencies for a cut of the value of the trade. There are also small fees levied on the cost of verifying your trade.
  6. You will need a wallet. A wallet is a secure digital device to store your cryptocurrency as it is not a good idea to leave balances lying around in your trading accounts. You can use a hardware wallet or a software wallet, depending on your needs and the level of sophistication required.

How the IRS Treats Cryptocurrencies

The IRS regards cryptocurrencies as capital assets and taxes profits at the date they are sold. You can compare this to the tax on traditional investments like stocks or funds.

Capital Gains Tax

However, the rules regarding the timing of your profits or losses come into play when you sell your crypto investments.

An understanding of these rules is crucial to ensure that you are taxed at lower rates. Short-term capital gains rates for investments held for less than 12 months are much higher than the long-term rates.

The far lower rates that apply to long-term gains (greater than 12 months) can translate into a difference which can be as much as 17%, at the higher end of the income tax brackets.

Sales Tax

If you use your cryptocurrency to pay for goods or services, then you become liable for sales tax.

Further Tax Complications

What’s more, you will need to calculate whether or not you have made a profit or loss on the date of the transaction and make a calculation concerning the capital gain or loss you may have incurred.

This means you are potentially liable for both sales tax and capital gains tax on a purchase transaction.

If you trade regularly, you will need a system to record and keep track of the income and expenses related to your trading activities as well as any purchases of goods or services.

Even More Tax Complications

If you also have investments in mining equipment and have tokens that you received from your mining activities, you will be taxed on those tokens as if they were your regular income.

This means you have to calculate what the tokens are worth on the day you earned them and then calculate all your expenses related to mining those tokens, including any capital allowances such as wear and tear to which you may be entitled.

As trusted advisors and tax consultants to businesses and individuals for over 50 years, Taxleaf provides payroll, bookkeeping, and accounting services and is uniquely placed to assist you with the tax complexities associated with your cryptocurrency taxes.

For more information about this matter, please visit our Landing Page on Cryptocurrency

Alternatively, call us to secure your 30 minutes FREE-CONSULTATION with a Qualified Tax Advisor!

888-Y-TAXLEAF