Online sellers are notoriously known by the IRS as tax cheats. The IRS estimates that businesses across the United States pay $125 billion less in taxes each year than they actually owe. The IRS is on a mission to reduce that number.
Today, many businesses are forming as a Limited Liability Company (LLC) and are finding that an LLC offers the “best of both worlds” of corporate forms.
On September 28, 2018, the IRS officially terminated the Offshore Voluntary Disclosure Program (“OVDP”). The OVDP has been in existence
A new and important provision in the Tax Cut and Jobs Act (TCJA), enacted in December of 2017, is Section 199A, which allows deductions for qualified business income (QBI). This post is part one of a three-part series and addresses what QBI is, who may claim QBI deductions, how they may claim such deductions, and how to calculate the deduction for taxpayers below the lower threshold.
All foreign investors owning U.S real property are responsible for paying taxes on any and all rental income they earn in the United States from that property. As a general rule, a non-US person who rents out his or her U.S. property is subject to a 30% withholding tax imposed on the gross amount of each rental payment.
If you are reading this article, it is likely because you or someone you know received a letter from the
WHAT IS AN IRS TAX “WHISTLEBLOWER”? A “whistleblower” is someone who reports misconduct by an employer, co-worker, or another party.
As a general rule, foreign gifts of money or property received by a U.S. citizen from a foreign non-resident will
A Single-Member Limited Liability Company (“SMLLC”) is a Limited Liability Company (“LLC”) which only has one owner and is not
Now that the title caught your attention, the reality is that buyers of real property may be held liable for
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This is a quick legal reference guide covering 16 topics that every business owner needs to have to start a business
