Update: FBAR and International Reporting Enforcement

For several years the IRS has made it known that international tax and reporting is a top priority.  Additionally, taxpayers and professionals have assumed information gathered under FATCA reporting would be used for enforcement.  As we enter 2018, these two thoughts are no longer assumptions and are more evident than ever. The IRS Criminal Investigation […]

Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act took effect on January 1, 2018.  While there were many changes, below are some of the key points: Individual Tax: The new tax bill made significant changes to the federal income tax brackets. The most notable was the highest marginal tax rate was reduced from 39.5% to 37%, including […]

Estate Planning under Tax Cuts and Jobs Act

The “Tax Cuts and Jobs Act” made significant changes to individual and corporate taxes.  In estate and gift taxes, the most significant change was the temporary increase of the estate, gift and GST tax exemption. The act doubled the unified estate, gift and GST exemptions from $5.49 million to $11.2 million per person. Therefore, for […]

Hong Kong and India – January 2018

Hone Maxwell LLP Partner Josh Maxwell recently finished a trip through Hong Kong and India meeting with contacts, colleagues and clients.  Additionally, Mr. Maxwell made presentations with the Hong Kong Institute of CPAs, the International Fiscal Association – Hong Kong Division, and several private presentations for law firms and clients.  Hone Maxwell LLP would like to extend a sincere thank you to all our overseas friends that welcomed Mr. Maxwell, provided a venue, and who are looking towards the future in building a relationship with Hone Maxwell LLP to assist clients with transpacific business.

5 Non-Tax Reasons for Estate Planning

As the Unified Gift and Estate exemption is now $5.49 million per person, is there still a need for a living trust or estate plan?  There are many reasons for a comprehensive estate plan other than to save estate taxes.  Below are just five of these reasons how a good estate plan can be beneficial […]

Josh Maxwell, Partner at Hone Maxwell LLP, was published in the STEP Hong Kong newsletter regarding investing in U.S. property

Josh Maxwell, Partner at Hone Maxwell LLP, was published in the STEP Hong Kong newsletter regarding investing in U.S. property. This article is excellent information for any foreigners who would like to invest in U.S. real estate. http://www.step.org/sites/default/files/Branches/hongkong/newsletters/Dec16/Foreign_investment_in_US_property_Maxwell.pdf

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