China / Hong Kong: Business and Pleasure

We had a very fun and successful trip to Hong Kong and China meeting friends and colleagues, seeing the sights, making presentations, and spending time together.  It was a rewarding experience to show my kids different cultures and places, as well as what I have been doing when I am on the other side of […]

Tax Deadline for U.S. Persons Living and Working Abroad

The normal tax deadline for individual taxpayers is April 15th.  However, for taxpayers living and working abroad there is an automatic extension to June 15th.  This year, since June 15th is a Saturday, the actual deadline will be June 17th. A few key points to remember: Taxpayers eligible for this deadline are still able to […]

Tijuana Binational Conference

I am honored and excited to be presenting at this year’s Binational Conference of the Colegio de Contadores Publicos de B.C.  The event will take place on June 28th in Tijuana.  Please join us and let me know if you have any questions. Tijuana-Binational-Conference-June-28

Foreign Owned Real Estate – Small Election, Big Tax Savings

A common investment into the U.S. market is real estate, which is often rented to produce income.  This investment has questions that need to be answered regarding things such as holding structure and exit strategy.  However, there is one extremely important tax item that is very straightforward. Generally, under U.S. tax law, rental income is […]

When is a U.S. trust a foreign trust?

When consulting with international clients one of the most common miscommunications involves discussing a “foreign trust.”  For most people, a foreign trust would intuitively be a trust of a foreign country.  However, under U.S. law it is not that simple. For tax purposes, there is not a definition of a foreign trust.  Instead, there is […]

Tax Simplification?

The Tax Cuts and Jobs Act was sold as a simplification of tax laws and forms.  The IRS recently reminded taxpayers that forms 1040A and 1040-EZ have been consolidated into Form 1040.  On its face, that comment would seem to make sense, but let’s give it some more thought.  The purpose of the 1040A and […]

Transition Tax: Second Installment Due

Although the transition tax applied to the 2017 tax return, many taxpayers chose to make the payments under an installment agreement, which means it is now time for the second payment.  To make this second payment, taxpayers should have received an installment notice payment voucher.  However, at this time, not all taxpayers have received this […]

International Tax Planning – Don’t Forget California

Around the world, the IRS is very well known and international taxpayers sometimes even know a few of the basic principles of U.S. federal tax.  However, possible state taxation issues, especially in California, are frequently overlooked and many times not known at all.  While there are many items to consider, the point is best illustrated […]

First GILTI Tax Season: Problems and Planning

The GILTI tax was implemented for tax years beginning after December 31, 2017, which means that this is the first tax season where GILTI must be considered.  As the law is flushed out on actual returns, the effects are proving to be widespread to many taxpayers.  However, the new regulations (details to come) and recent […]

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