While it is not illegal to earn income abroad or to hold an offshore account, failure to disclose income to the Internal Revenue Service is illegal.
A shell company can be created when shareholders of a private company purchase control of the public shell company and then merge it with the private company. The publicly traded corporation is called a “shell” since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors.
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.
The Tax Cuts and Jobs Act passed in 2017, and effective in 2018, provides businesses with a reduced tax rate, but also significantly alters the tax deductions businesses can claim. Some major categories of tax deductions that have been adjusted are meals, entertainment, and travel for either employees or clients
The saying used to go, “A man’s only as good as his word.” However, these days, according to banks and
If you are a snowbird or a person that likes to spend a considerable amount of time in the U.S.
Can your contributions to a charity that has its IRS application pending be still tax exempt? The answer is that
A Single-Member Limited Liability Company (“SMLLC”) is a Limited Liability Company (“LLC”) which only has one owner and is not
The initial question at hand; What is the Trust Fund Recovery Penalty? Every single employer is required to pay
As a U.S. citizen or resident alien, you have several reporting obligations to the Internal Revenue Service regarding your foreign
Our team of highly trained attorneys, with over 200 years of combined experience, includes 25 multi-lingual attorneys, and utilizes cutting-edge technology to beat the competition.
Esta es una guía rápida de referencia jurídica que cubre 16 temas que cada empresario necesita saber para empezar un negocio.
