Why Reviewing Your Tax Strategy Makes Financial Sense
Decrease taxes to increase profitability. Sounds like common sense, right? Well, in my experience, it isn’t when it comes to entrepreneurs and their businesses.
The Top Five Mistakes Entrepreneurs Make When Expanding Internationally
To go big in this day and age, you have to go global. Going global has many potential advantages for your business, such as increased market share, high-value customers, lower labor costs and lower taxes, to name a few.
Guilty of GILTI? A New Tax for Some Expats
Are you guilty of GILTI? You better hope not! GILTI stands for “Global Intangible Low Taxed Income” and was enacted as part of the U.S. 2017 Tax Reform.Under GILTI, U.S. expats who own and operate businesses through foreigncorporations could be forced to pay US tax on their foreign corporation’sprofits, regardless of whether or not they receive a dividend!
Banks lock out Americans over new tax law
That’s what banks around the world have been telling their U.S. customers, as they try to avoid having to comply with a new tax law due to come into force next year.
New tax law driving expats to renounce U.S. citizenship
For Ruth Anne Freeborn, it boiled down to a choice between country and family. Born in Oklahoma, Freeborn has lived in Kingston, Ontario, for more than 30 years as an American expatriate, with a Canadian husband and 22-year-old son.
FATCA: The Long Arm of the U.S. Tax Law
U.S. tax consultant James C. Sexton has come to Vienna on a mission: To educate Americans about their new obligations to the Internal Revenue Service. And there is plenty to learn. “This is the first time there has been legislation enacted where you have foreign banks [acting] basically as IRS agents,” he said, “just like U.S. banks, reporting on the activities of Americans.”