What Is a Controlled Foreign Corporation (CFC)?
Have you ever stumbled upon the term “Controlled Foreign Corporation” and wondered what it is? You’re not alone. The global landscape of finance and taxation can be tricky. Especially, when it comes to dealing with foreign investments. One key to navigating this complex maze lies in understanding the concept of a Controlled Foreign Corporation (CFC). […]
Taxes for Expats: The Key FBAR Requirements You Need to Know About
In today’s global economy, it’s common for U.S. taxpayers to have bank accounts, investments, pensions, etc. outside of the United States. As an expat, you may not be aware of all the tax requirements, including the rules for FinCEN or FBAR. If you keep money in a foreign account, you have to file a form […]
FBAR: How to Report Money in Foreign Bank Accounts
Are you aware that if you keep even a modest amount of money in foreign bank accounts, you could be suspected by the U.S. government of money laundering? But don’t panic. We’ll help you keep your business affairs legal. In this article, we’ll introduce you to the laws and regulations you need to know, such […]
The FIRPTA Withholding Process Explained: A Step-by-Step Guide
Did you know that in 2020, foreign buyers purchased over $54 billion worth of residential property in the US? Navigating the complex world of real estate transactions can be challenging, especially when dealing with properties owned by foreign sellers. One essential aspect to understand is the FIRPTA withholding process. FIRPTA ensures that foreign sellers pay […]
What Is a Single Member LLC?
Perhaps you’re thinking about starting a business. Are you wondering, “What is a single member LLC, and is it right for me?” If so, you’ve come to just the right article. We’ve outlined your beginner’s guide to this kind of organization. By the end, you’ll know exactly whether this business structure is ideal for you. There […]