Tips on Property Investment|The Best Investment Properties Advice
Mar
19
Filed Under (Property Investment Advice) by admin
Janochka asked:
I heard there is no tax withholdings for a CA resident if investment property is in NV, because NV is a no tax state. Is this true?
I think I asked the Q wrong. The escrow company when I closed the home said since I don’t live in NV I don’t need to withhold 3 1/3 right now and I will just file end of the year. But my accountant says I still need to send in the estimate now and then the rest of the tax if needed end of the year.
Dennis
I heard there is no tax withholdings for a CA resident if investment property is in NV, because NV is a no tax state. Is this true?
I think I asked the Q wrong. The escrow company when I closed the home said since I don’t live in NV I don’t need to withhold 3 1/3 right now and I will just file end of the year. But my accountant says I still need to send in the estimate now and then the rest of the tax if needed end of the year.
Dennis
