For some small businesses and individuals, the new Section 951A GILTI tax creates a huge planning challenge and compliance burden. And what's … [Read more...] about Section 951A GILTI Tax Avoidance: Ten Tricks
foreign tax issues
Section 962 Election: An Answer to GILTI?
As you probably know if you’re reading this blog post, many investors and entrepreneurs with an international footprint face a painful new tax, the … [Read more...] about Section 962 Election: An Answer to GILTI?
Do You Owe the Section 965 Transition Tax?
For either 2017 or 2018, many U.S. taxpayers with an interest in a foreign corporation owe(d) the § 965 transition tax. However, the new rule arrived … [Read more...] about Do You Owe the Section 965 Transition Tax?
Will Your Small Business Owe GILTI Tax?
A prediction for the coming tax season: GILTI taxes will blindside some small business owners operating internationally. Many small business owners … [Read more...] about Will Your Small Business Owe GILTI Tax?
Section 965 Transition Tax, IRS Pub 5292 and the Great Goat Rodeo
Most of the time, this blog addresses subjects of general interest to most small business owners. But this week, I want to talk about the Section 965 … [Read more...] about Section 965 Transition Tax, IRS Pub 5292 and the Great Goat Rodeo
International Tax Reform: Key Changes from the Tax Cuts and Jobs Act
Editor's note: This week, CPA Moses Man discusses elements of the Tax Cuts and Jobs Act related to international tax reform, focusing on those tax law … [Read more...] about International Tax Reform: Key Changes from the Tax Cuts and Jobs Act
Reporting a Foreign Business Investment
The first thing we need to say is that if you’re an entrepreneur or business owner operating internationally, you need to be really careful about … [Read more...] about Reporting a Foreign Business Investment
Excluding Foreign Income from U.S. Taxes
We get a lot of questions from people who earn money outside the United States and wonder how, and if, U.S. income taxes can be avoided. For this … [Read more...] about Excluding Foreign Income from U.S. Taxes
U.S. Tax Rules for Nonresident Aliens
If you’re new to the U.S. system of taxation, you’ll find the situation pretty confusing. The U.S. system of taxation (and we say this as tax … [Read more...] about U.S. Tax Rules for Nonresident Aliens
Your CPA versus TurboTax
Because we’re CPAs, we get people asking us a lot about when someone can and can’t use TurboTax or a similar product to self-prepare a tax … [Read more...] about Your CPA versus TurboTax