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It is tax season AGAIN and unfortunately, as US Residents, we cannot avoid it. Tax Day is just around the corner, and as much as we would like to know all our clients are ready, we understand unexpected events happen and some of you will need to postpone the tax filing process. For those who…
H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on Dec. 20, contains a large number of provisions that affect individual taxpayers. However, to keep the cost of the bill within Senate budget rules, all of the changes affecting individuals expire after 2025. At that time, if no…
American citizens, green card holders, and U.S. “tax” residents are subject to U.S. tax, for domestic and foreign income despite where the individual resides or earns a living. The new tax code bill H.R.1. known as Tax Cuts and Jobs Act (TCJA) established the exemption for taxation of foreign income by domestic corporations. The bill…
Without too much technical tax talk, here are some of what we believe are the more important business related tax law updates of the new Tax Cuts and Jobs Act. In this article we explain some more changes that took effect on January 1, 2018, which may impact your business starting in the tax year…
It is been two months since President Trump signed the tax reform bill. The new Tax Cuts and Jobs Act (TCJA) offers some tax saving options for businesses, among others, the tax deduction for owners of pass-through entities. What is Pass-Through Taxation? It is the option that business owners have to be taxed on earnings…
Bitcoin and other cryptocurrencies have increasing popularity. Last year cryptocurrencies were frequently in the news due to their volatile price fluctuations. This made many millennials and other age groups into billionaires, as well as others to lose significant amounts of their invested savings. Though several ups and downs, in 2017 the value of the cryptocurrency…
Starting a new business is exciting and we all want to create a successful business; but it comes with responsibilities and many rules to follow. However, there are no guarantees for success. Among other factors, offering a product with quality or providing the best service, being consistent, persistent and utilizing your resources to the best…
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