What Are the Tax Consequences of Giving a Gift to a Foreign Person?
A “foreign person” is a non-resident alien individual or foreign corporation, partnership, or estate. Gifts to foreign persons are subject to the
A “foreign person” is a non-resident alien individual or foreign corporation, partnership, or estate. Gifts to foreign persons are subject to the
You may be wondering, what is FICA? FICA stands for the Federal Insurance Contributions Act and is a United States
What is the Expanded Child Tax Credit? If you have children under the age of 18, you may be interested
Just as e-commerce has presented challenges for sourcing sales tax, e-commerce also presents issues for sourcing income taxes. This blog will discuss the income tax implications for online businesses.
The Securities and Exchange Commission (“SEC”) is an independent government agency created to regulate corporate securities while maintaining fair market practices. The SEC is commanded by a five-member commission who act cooperatively to enforce the rules and regulations that make up the securities market. Their authority is derived from the Securities Act of 1933 and the Securities Exchange Act of 1934.
The U.S. Securities and Exchange Commission is a governmental agency that serves the purpose of protecting investors from fraud and maintaining fairness and efficiency of the U.S. market. One of the main goals of the SEC is to mandate disclosures about all kinds of investments to both small and big businesses.
Oftentimes, a creditor or vendor wrongfully files something with your credit rating agency. All of a sudden, you find your credit lowered by hundreds of points, with collection agencies knocking at your door. Black marks on your credit can have detrimental consequences for future financial transactions, like opening a credit card.
While the show is fictional, the reality is that succession planning is an important aspect of estate planning that should be fully integrated into your plan, especially for business owners. A solid estate plan not only provides for the disposition of your assets upon your passing but also plans for someone to take your place (a successor) when you are no longer able to perform your responsibilities due to incapacity or death.
A C-Corporation is the typical corporate structure. However, any company—limited liability companies, partnerships, and sole proprietorship—can elect to be taxed as a C-Corporation. Electing to be treated as a C-Corporation is essentially deciding how your entity will be taxed.
Along with registering an organization in the United States, many, if not all countries require proper registration within their governmental agency as well. This not only allows foreign countries to have control over U.S organizations operating within their nation’s borders, it also helps keep track of activities and allows the enforcement of local laws.
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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