Tax Accountant and Bookkeeping in Aventura, FL

Aventura is largely a residential city of condominium towers, and the households inside them frequently keep one foot somewhere else. Williams Island, Hidden Bay, and the buildings along the intracoastal hold families with accounts, companies, or property abroad, along with the brokers, advisors, and agents who serve them. The tax work here is less about running a business and more about reporting what a household already owns abroad.

An Aventura engagement usually starts with an inventory. We ask what accounts exist outside the United States, who has signature authority over them, what foreign companies or trusts anyone is an owner or officer of, and what property is held where. That list decides which reports apply: the FBAR, the foreign-asset disclosure that rides along with the return, the reporting that comes with owning or directing a foreign company, the annual information return a foreign-owned entity has to file, or none of them. Getting the inventory honest first is what keeps the filings from being wrong later.

The ongoing work then runs on two tracks. One is the annual return with its foreign reporting attached, filed on time and consistently year over year, because a report skipped once tends to raise a question about every year around it. The other is transactional: a condo sale by a foreign owner usually puts FIRPTA withholding into the closing, and the duty to withhold sits with the buyer rather than the seller. There is a narrow exception for a lower-priced unit the buyer will live in, and a reduced-withholding certificate can sometimes be applied for, so this is easier to handle before the contract than after. We work in English or Spanish, alongside the family’s advisors abroad.