Dear All,
I tried to look around in this very forum but couldn't find any answer.
I personally own 2 properties in the US and I pay taxes in the US and my country of residence. At this time each unit has its own bank account. Payout are sent to the unit specific account and all taxes charged by ABB are paid in the "default" account.
I would like to host, as a property manager, other units in EU under my current account. I obviously know that creating 2 accounts would be easier but I would like to is retain my status, reviews, etc so I'm trying to use my current account for both continents.
Units in the EU are owned by an EU company. My understanding is that I can host different properties in different countries owned by different parties. The confusion arises with VAT and payout.
unit #1 USA (personal)
unit #2 USA (personal)
unit #3 EU (corporation - VAT)
unit #4 EU (corporation - VAT)
Did anybody experienced a similar situation? How did you set your primary account?
My plan was setting up the EU company bank account as the default one and have myself refunding the EU company once in a while for paid taxes. Moreover EU company bank account will in euro... It's a bit messy on the accountant part and I wonder if there's a more efficient solution.
Thanks
G