Property and Real Estate Resources

For most people, filing taxes could mean tedious work. With the all the forms that needed to be filled out longhand and mailing, taxes do contribute to a lot of stress. However with the emerging trend of doing transactions online, people are engaging more into efiling their taxes. With efile, people could easily navigate and go through one step to the other. They could also file both state and federal taxes without too much work. Although filing taxes is not a popularly idea to many, efiling is now changing that. With much more ease, people are becoming less stressed with the filing their taxes. Even IRS recommends efiling as it poses benefits on their part too. It minimizes much paperwork and they don’t have to tap too much man power when working with it.

There are numerous programs where people could chose from when efiling their taxes. Since tax codes change annually, online programs which updates on tax codes gives advantage to its users. IRS in the meantime offers the same program and even renders the service free for those who meet the income guidelines. Evidently other highly popular programs have more helpful features than IRS. The users are not solicited with products and services that they could buy.

To efile taxes, the necessary requirements that come with the traditional filing of taxes are also demanded. The requirements could range from W2 forms to the Social Security numbers of dependents. The filer’s information is assured to be safe through encryptions used by the online programs. Users could remit the return once they have gone through the process online. The return is sent out to IRS which would in turn verify if the return is accepted or not. The good thing about online programs is that they could accept returns larger than before and majority of the returns are accepted at a time.

When you efile taxes, chances the application could be processed faster and you wait shorter for it to be done. Filing taxes is open to anyone like small businesses and those who are self-employed. When you efile taxes, you are also given the opportunity to check for discrepancies that may be reflected in a return for audit. Tax returns are still filed electronically given that they are very complicated usually demands the attention of a professional. People who are under standard deduction and have no itemizations usually take filing for their federal and state taxes less than an hour.

As foreigners can’t own land themselves many foreigners living in Isaan buy land in the name of their spouse. In most legal systems in the world the real property would become a joint or matrimonial property and many foreigners investing in Thai real estate assume they have a claim towards the property in case of a divorce or separation. Unfortunately, Thai law requires that the land (generally in practice this will be registration of land and house in the Thai spouse’s name) becomes a personal property of the Thai national during marriage and not a matrimonial property between husband and wife (irrespective if you are married under Thai or foreign law). Thai law does not allow foreigners to have any claim of ownership or management of land in Thailand.

Foreigners married to a Thai national can only buy in the name of their Thai spouse after a letter of confirmation at the Land Department that the money expended on the land is personal property of the Thai spouse. Foreigners can however protect their interest in the property. Protection in case of land and house purchase in the name of the Thai spouse foreigners have the following options:

(a) agree on the registration of a Right of Usufruct in favour of the foreign spouse, or;

(b) separate land and house and register the structure upon the land as joint or personal property of the foreign spouse. (in this case an additional Right of Usufruct is not possible, but as a general protection keep a record of all documents and payments made to be used as proof in case of a divorce), or;

(c) land and house is registered in the Thai spouse’s name and the foreign spouse accepts full management and ownership by his or her Thai spouse.

In case of undeveloped land purchased by the foreign spouse in the Thai spouse’s name the options are:

(a) agree on the registration of a Right of Superficies in favour of the foreign spouse

(b) apply for the building permit in the foreign spouse’s name (option a an b guarantee full ownership of the structure and use of the land by the foreign spouse)

(c) the building permit is in the name of both spouses and de house becomes a joint property (in this case a Right of Superficies is not possible, but as a general protection keep a record of all documents and payments made to be used as proof in case of a divorce), or;

d) the land and building permit is in the Thai spouse’s name and the foreigner accepts full ownership and management by his or her Thai spouse.