The Holiday season has arrived! It’s that time of year where the air is crisp, families are gathering together, and tax professionals are gearing up for a new tax season influenced by tax reform. As we “fall” back for daylight… Read More
Trick or Treat(ies): Navigating Taxation Between Various Countries
In a globalized society, it might make sense to diversify investment portfolios with foreign holdings. Traveling and communicating across countries has never been easier, making it natural to also invest globally. As with all things, the taxation of these types… Read More
Earning Income Without Paying Taxes. What?
Ever heard of the foreign earned income exclusion? If you work abroad, or are planning to make that move to live in a foreign country, this article might be of interest to you. Here we will talk about how you… Read More
Tax Profile: Australia
Individual Tax Australian residents are taxed on their worldwide income from all sources. Foreign residents, however, are generally only taxed on their Australian-sourced income (i.e. money they earn while working in Australia). The rates of tax applicable to Australian resident… Read More
Tax Profile: France
Introduction France is an attractive place for investors, it ranks among the top countries in Europe and worldwide for patent production. France is also home to a number of research and development centers. At the head of this research are… Read More
Tax Profile: Mexico
Introduction Mexico passed a tax reform law that took effect on January 1, 2014. There are many broad changes, including new income tax brackets, new taxes on certain dividends and gains, and changes to the maquiladora regime. Attached is a… Read More
Tax Profile: Puerto Rico
Introduction 2012 brought about numerous tax incentives for foreign and U.S. investors and individuals who become residents of Puerto Rico. Additionally, there are tax incentives for Puerto Rico businesses that perform certain services for clients outside of Puerto Rico. Individual… Read More
Tax Profile: Canada
Introduction In general, Canada recognizes four types of entities for income tax purposes: individuals, corporations, partnerships and trusts. Individual Tax Canadian citizens/residents are subject to tax on their worldwide income. The Canadian federal government uses a marginal income tax system… Read More
Foreign Taxation of Individuals
The following information relates to foreign filing requirements for individuals, trusts, estates, and entities. This information is pertinent as failing to file any of the Forms could lead to severe penalties. Form TD F 90-22.1 Report of Foreign Bank and… Read More
Reporting by U.S. Taxpayers Holding Foreign Financial Assets
Taxpayers have long been required by the Bank Secrecy Act to report certain foreign accounts. Now, there is a new reporting requirement in the Foreign Account Tax Compliance Act of 2010. U.S. taxpayers holding foreign financial assets may be required… Read More
