International tax laws can be complex and confusing. It’s no surprise that many people need to look very closely at the laws to determine if they’re on the right side of them. In the United States, 2021 could be an excellent year to reform international taxes, but...
Trying to cash in on the Green Rush could mean major tax issues
Savvy entrepreneurs and business investors always want to catch the next big trend before it peaks. Entering a developing industry when there is demand but not yet a saturation of supply can be a recipe for profit. People have called the legalized cannabis and CBD...
5 tax law changes to know
If you need assistance with your taxes, it’s important to work with a knowledgeable team. The Internal Revenue Service is not very forgiving, and making mistakes could lead to serious allegations, fines and penalties. Most years, there are changes to tax laws, and...
What countries have the best corporate tax rates?
Business has become global. With the exception of a few countries that don't allow outside corporations or investors, most of the globe welcomes new business and investment. As a United States citizen, whether you live abroad or not, starting a business in another...
Do you own or trade cryptocurrencies?
If you do, you may need to keep track of your trades for income tax purposes. The IRS is concerned that people may not be reporting their trades on their income tax returns. Protecting yourself Consulting a tax attorney can help you to address this issue and avoid...
What happens if you fail to report foreign assets and accounts?
If you hold a foreign financial account, United States law requires that you report the account, not only on your income tax return, but also in an annual foreign bank account report, or FBAR. You could face serious legal consequences if you do not report the foreign...
Making the most of the foreign income exclusion for tax reduction
Taxes have a way of rapidly diminishing the income you earn as an individual and the profit a company can generate. Savvy business owners and professionals often go to great lengths to limit their income tax liability each year. Provided that you do so in compliance...
Reporting cryptocurrency transactions on your 2019 income tax returns
When the government thinks that taxpayers may not understand that a transaction is taxable, they’re going to look for a way to let taxpayers know that it may be taxable. This has been the case with the IRS and cryptocurrencies. The IRS released its first...
