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Mary Enzi

Tax Solutions – FIRPTA Consulting

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Tax Solutions – FIRPTA Consulting

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RE: FIRPTA - Buyer INTENT to occupy

Posted By Mary Enzi 07-26-2024 10:56
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Teri, Thank you, it was an interesting reading, in this particular case if buyer signs a well drafted affidavit should be no room for interpretation. ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting [email protected] +1 (281) 578-1040 Barker TX -------- ...

RE: FIRPTA - Buyer INTENT to occupy

Posted By Mary Enzi 07-23-2024 10:38
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Hello: I was asked privately to cite the regulation code. So thank you for asking Will. Our Analysis (the world of FIRPTA according to Tax Solutions - FIRPTA Consulting): Exceptions and Reduced Withholding Rates for Purchase of a Primary Residence No Withholding Required: Purpose of Purchase: ...

FIRPTA - Buyer INTENT to occupy

Posted By Mary Enzi 07-22-2024 12:22
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Good day to you; I want to share with you a question and answer from a very dear ALTA member who attended a FIRPTA class taught online a few days back. He asked 2 year rule - Is it not based on the purchaser's intent at the time of settlement?. If the purchaser has some adverse action that prohibits ...

RE: Title Agents Podcast

Posted By Mary Enzi 07-11-2024 10:06
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Thank you Mo, we are honored and we appreciate the invitation! 😊 ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting [email protected] +1 (281) 578-1040 Barker TX ------------------------------ ...

RE: Title Agents Podcast

Posted By Mary Enzi 07-10-2024 14:57
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Mo; Congratulations, this is so exciting, I cannot wait to listen to the podcast and learn more from the best in the industry! ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting [email protected] +1 (281) 578-1040 Barker TX ------------------------------

FIRPTA - SSN and/or ITIN

Posted By Mary Enzi 07-09-2024 13:04
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Good morning everyone; I want to revisit a matter that is frequently asked and creates confusion, many times, when title agents or real estate agents call our office with a possible FIRPTA transaction they make emphasis in the fact that the seller has either an ITIN or a SSN, remember, ONLY any of the ...

RE: Managing properties for foreign individuals

Posted By Mary Enzi 06-27-2024 11:12
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Bonnie: It was a pleasure talking to you and we are glad to know the information we provided was useful. Never hesitate to give us a call, we are always happy to answer your questions! ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting [email protected] +1 (281) ...

RE: Obsolescence in the Title Industry

Posted By Mary Enzi 06-27-2024 11:10
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Janis: Thank you so much for sharing this video, it was definitely eyeopener as well as educational, I love "grabbing the future with GUSTO" 🤗 ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting [email protected] +1 (281) 578-1040 Barker TX ...

RE: Managing properties for foreign individuals

Posted By Mary Enzi 06-19-2024 20:53
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Lisa: Regardless of who the check is issue to, if you are managing properties for a foreign individual you have to withhold 30% of the gross income, UNLESS the foreign individual has taken steps to remove the need for this withholding. The foreign owner of U.S. real estate property must obtain a ...

RE: Managing properties for foreign individuals

Posted By Mary Enzi 06-18-2024 11:21
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Hi Chris: As a general rule, a non-US person who rents out a US home is subject to a 30% withholding tax imposed on the gross amount of each rental payment. This means if a foreign person owns house, and rents it out for $2,000 a month, $600 of each $2,000 monthly rent payment payable to the foreign ...

RE: Managing properties for foreign individuals

Posted By Mary Enzi 06-18-2024 10:10
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Arthur; Yes, property managing companies or real estate agents working with foreign investors/individuals, it is important to let the foreign investors know that they also have a filing requirement while receiving rental income in the U.S. or to retain 30% of the gross income and send it to Treasury ...

Managing properties for foreign individuals

Posted By Mary Enzi 06-14-2024 10:17
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Hi All! I wanted to share this information with all our beloved Real Estate Agents, if you are managing rental properties for foreign individuals without a U.S. tax ID, just like with FIRPTA, you, THE REALTOR is the withholding agent, meaning is in YOUR best interest to send 30% of the collected gross ...

RE: FIRPTA (again)

Posted By Mary Enzi 06-07-2024 13:00
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Hi Juliana; That is correct, withholding certificates processing time is between 10 to up 14 months. It is ridiculous. Seller will recover the FIRPTA deposit faster by filing a U. S. tax return. Mary Santiago, CAA Office Manager ____________________ P. O. Box # 207 Barker, TX 77413 281 578-1040 ...

RE: FIRPTA (again)

Posted By Mary Enzi 06-06-2024 11:51
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Hi Mary, Unfortunately, the IRS is taking between 12 to 14 months processing withholding certificates, Please feel free to give us a call at your convenience, we will be glad to discuss with you the options there are available in this regard. ------------------------------ Mary Enzi CAA Tax Solutions ...

RE: Caller from a possible scammer "from ALTA"

Posted By Mary Enzi 06-06-2024 10:17
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Taylor: Absolutely, as I was talking to them I was searching in the ALTA directory for their names, and of course they were not listed as members of ALTA, at the end, the advice is, always check directly with YOU guys on this particular case, or with the actual provider (in this case the hotel) just ...

Caller from a possible scammer "from ALTA"

Posted By Mary Enzi 06-05-2024 23:06
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Hello everyone; We just got back from the fabulous TLTA conference in San Antonio and 1 of the first messages I got was "from ALTA" A guy by the name of Alexander Berg, first claiming to call from ALTA calling in regards to the upcoming ALTA conference in Orlando, to "offer a special deal" my staff ...

RE: ALTA - TLTA

Posted By Mary Enzi 06-05-2024 23:05
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Arthur; I have followed up with the Title company but there is not much feedback, the Realtor seems to be an experienced person in the field with many good reviews but I have not heard from him either, he was representing both, buyer and seller, similar lots in that specific area are listed for 3 times ...

ALTA - TLTA

Posted By Mary Enzi 05-31-2024 20:32
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Hi everyone, Any of you from Texas attending TLTA in San Antonio this coming week? .... Stop by our booth, I will be so glad to meet you .... Also, I have to tell you, we were able to stop a fraudulent transaction today, I am curious thou, when I ask the real estate agent what kind of ID he received ...

RE: AI In the Title Industry

Posted By Mary Enzi 05-30-2024 13:17
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David: I share your feelings; it is frustrating and like you said embarrassing, withholding certificates are taking between 10 to 14 months it is ridiculous, so far is no longer an option, you get your refund by filing a tax return sooner than you get an approved withholding certificate. ------- ...

RE: AI In the Title Industry

Posted By Mary Enzi 05-29-2024 15:34
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Janis: I think is a bit of both, while it makes things easier in certain aspects, the concern for privacy an security is there, is like you are being spied on constantly, and also the reliance on AI is insane, in a way, I think AI is a little overrated, overused. ------------------------------ Mary ...