What is business succession planning, and why is this an important and essential component of forming any new entity or protecting an existing business interest? Business succession planning protects everything you’re working to build by ensuring sound corporate management and decision-making continues if you are injured, disabled, or after your...
Tax Issues and Estate Planning for U.S. Expats
What are the most important challenges associated with tax issues and estate planning for U.S. expatriates? Are you planning to move out of the United States? Are you a U.S. taxpayer who lives and works outside of the country? What are some of the key issues you need to be...
IRS is Considering Updates to the Voluntary Disclosure Practice
A request for public comment reveals the IRS is considering updates to the Voluntary Disclosure practice. The agency states its “commitment to improve its processes, and to further incentivize non-compliant taxpayers to come into compliance.” Key Takeaways Now That the IRS is Considering Updates to the Voluntary Disclosure Practice: The...
The IRS will Discover Your Offshore Financial and Digital Activities
As long as there have been taxes levied in the world, there have been those who try to work the system or evade taxes altogether. Unfortunately for many, the world has become a much smaller place for those who wish to underreport income or shelter their income and assets. The...
Why is a PFIC a Potentially Punitive Tax Consequence
What is a Passive Foreign Investment Company or PFIC, and why is a PFIC a potentially punitive tax consequence? Why is it important for any U.S. expatriate or U.S. taxpayer living or investing overseas to understand the concept of a PFIC and the implications these investments have on income tax...
A Transactional Approach to Business and Investment Planning
Why should you consider a transactional approach to business and investment planning? What is the best strategy to protect your assets while structuring gains and losses to minimize tax exposure? Key Takeaways Regarding a Transactional Approach to Business and Investment Planning: Most savvy business and investment professionals approach business and...
IRS Continues to Tighten Focus on U.S. Cryptocurrency Investors
2025 has brought substantial new challenges as the IRS continues to tighten its focus on U.S. cryptocurrency investors. Cryptocurrency brokerages are required to report gross proceeds for each digital asset transaction they manage on IRS Form 1099-DA. This requirement applies to all digital currency transactions on or after January 1st...
How Tariffs Have Impacted General Business and Tax Strategy
As the Supreme Court of the United States (SCOTUS) considers the legality of Trump tariffs under the IEEPA, including V.O.S. Selections, Inc. v. United States and Learning Resources, Inc. v. Donald Trump, it is important to consider how tariffs have impacted general business and tax strategy, as well as the path forward...
Is It Time to Update Your Estate Plan or Trust?
Is it time to update your estate plan or trust? How often should one revisit existing estate planning? What impact will taxation have upon your present and future finances and estate planning? Key Takeaways of Why This is a Good Time to Update Your Estate Plan or Trust: A lot...