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…
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…
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…
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…
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…
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,
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.
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
As you work through the budgeting process in the lead-up to 2016, pay close attention to some of your business’s under-the-radar expenses. For example, take your business development spending: Are you tracking what you and your employees shelled out in the meals-and-entertainment category this year? You might think those dollars are recouped in tax deductions, but that is not always the case
Budget season is officially here, which means federal, state and local governments, big corporations, and small businesses alike are all hunkering down to create and approve budgets for the coming year. When it comes to allocating percentages of spending, one of the most difficult categories for businesses to nail down is also the one that is most challenging to quantify: marketing. Small
