Estate & Income Taxation of Foreigners: Are Taxes Higher for Foreigners?
By frank.rosillo
- 07/20/2016
If you are not a U.S. citizen but plan to invest within the United States, it is imperative that you understand the United States Tax Rules and Regulations and how it will affect you. Foreigners are required to pay a…
Are You a U.S. Citizen or Resident with Foreign Earned Income?
By frank.rosillo
- 06/27/2016
If you are, then this information definitely pertains to you. Apart from domestic earned income, the United States also taxes income earned from foreign countries. The IRS provides a deduction on taxable income for US citizens living and working outside…
Penalties and Criminal Charges for Failure to File FBAR
By frank.rosillo
- 06/21/2016
People that have a financial account or are a signature authority over a financial account in another country that exceed certain thresholds are required by law to report these accounts to the Department of Treasury by submitting a Report of…
U.S. Tax Requirements for Foreign Corporate Ownership
By frank.rosillo
- 06/17/2016
The United States has taxing authority over some foreign corporations which have U.S. citizens or Greencard holders as officers, directors or shareholders even if such foreign corporations don’t have permanent establishments in the U.S. or don’t have any income sourced…
Do you file a foreign business or personal tax return?
By frank.rosillo
- 06/14/2016
If you do then it may be necessary to report this income on a U.S. tax return. Most foreign countries have a guideline that requires you to include a report all personal and business assets in the tax return. With…
File Your FBAR To Avoid Severe Penalties
By frank.rosillo
- 06/11/2016
For 2015, the deadline of June 30th, 2016 is just around the corner and penalties can be severe. The U.S. Internal Revenue Service (IRS) has been aggressively pursuing tax evaders and taxpayers involved in wrongful transactions in foreign countries. The…
Are You Required to file a Foreign Bank Account Report?
By frank.rosillo
- 05/25/2016
For calendar year 2015, the deadline to file a Foreign Bank Account Report (FBAR) is June 30st, 2016. This deadline is a very serious one, failure to file penalties start at $10,000 and can even result in jail time. Still…
The Importance of Succession Planning in Business
By frank.rosillo
- 04/21/2016
No matter what line of work you are in, getting your own business up and running is no small feat. With so many moving parts to keep track of—insurance policies, employees,
How Amortization Works for Start-ups
By frank.rosillo
- 04/21/2016
If you are investigating the possibility of starting your own business, you may have heard that you can deduct the expenses you incur while getting things up and running.
How to Determine Your Tax Status
By frank.rosillo
- 12/08/2015
The relative off-season for taxes is the perfect time to review basics and get your affairs in order. For taxpayers who are not U.S. citizens, identifying the correct tax status is the first step toward filing correctly during tax season.
The IRS defines those taxpayers who are not U.S citizens as “aliens.” Within that grouping, there are resident aliens and non-resident aliens. Resid
