As a CPA a common question I am asked is: “How can I create a tax shelter using my real estate?” Let’s be honest: most of us, including me, do not have overseas bank accounts that allows us to shelter large amounts of income from taxes.
If you are not in the Swiss bank account club, there is no need to worry. It might actually be to your benefit because recently, the U.S government made a treaty with Switzerland to team up together to find and prosecute tax evaders.
You don’t have to open a bank account overseas just to shelter your hard earned money. There are plenty of other ways to be an honest tax payer and take advantage of tax loopholes and strategies. Let’s take a look at some legal tax havens available to real estate investors just like you.
