Let's say an EB-5 investor (who is now, for tax purposes, a United States resident) has invested $500,000 in a project via an EB-5 regional center, to which the investor has paid a subscription fee of $50,000. Is this fee tax deductible? Is any part of the EB-5 process tax deductible? How about my legal fees?
Answers
Ed Beshara
Find an EB-5 Visa Lawyer: Immigration AttorneyThe hiring of an international tax attorney to advise you on tax compliance is the best way to obtain answers in regard to your tax planning. The filing of an I-526 petition does not establish physical residency in the U.S. or leads to you being a U.S. taxpayer.
Jinhee Wilde
Find an EB-5 Visa Lawyer: Immigration AttorneyThis is a question that you should ask your accountant and it will depend on the tax laws of your country on what is tax deductible. In the U.S., legal fees and regional center administration fees are not usually the items that could be deducted as expenses in a personal income tax.
Charles Foster
Find an EB-5 Visa Lawyer: Immigration AttorneyYou should consult your tax advisor with respect to whether any parts of the expenses of the EB-5 project are tax deductible. If they were considered a part of your normal business expenses, they would be, but it is not clear whether or not this would be considered a business expense.
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