For years the highest corporate tax rate and individual tax rate were very close.  Taxpayers wanting to accumulate wealth would usually choose a passthrough type entity in order to pay the [...]

The transition tax is not optional The transition tax is law under Internal Revenue Code Section 965.  It cannot be avoided and must be reported with the 2017 tax return.  If you have been [...]

Regardless of the outcome, guilt or reasoning behind the Paul Manafort trial, it illustrates a very important point.  Not properly reporting international taxes is not only a serious crime, but [...]

After determining the taxable base, the next step is to determine the correct tax rate to apply. Income Tax Income tax is broken down into two categories, passive and active income (see here for [...]

By now, many taxpayers are figuring out the need and the methodology to file and pay the transition tax.  However, there may be problems into the future as this law continues to appear to be [...]

The U.S. taxing system is unique in many ways.  However, these differences are not always more aggressive or unfriendly to taxpayers.  One area we have seen with our clients where the U.S. is [...]

NRAs are not taxed on worldwide income and assets.   Therefore, there needs to be a system in place to determine what is taxable. Income Tax Step one for calculating U.S. taxable income is the [...]

Recently, Harley Davidson announced it may be moving some manufacturing operations to Europe in order to avoid retaliatory tariffs.  This is a decision that any business would not take likely, [...]

Yesterday, our Partner Josh Maxwell had the honor and pleasure of speaking to two different professional organizations in Tijuana regarding the transition tax.  This is a very important issue, [...]

The IRS has just announced new information regarding the transition tax, mainly revolving around deadlines and extensions for the 8-year installment plan.  Through three new FAQs on the IRS’s [...]