Updated Jan 15, 2020, by John Hamilton, CPA A US-based LLC can have great tax advantages, especially for foreign entrepreneurs abroad. Even for US taxpayers, LLC taxes can be favorable. An LLC is a pass-through tax entity. What this means is that the LLC is not taxed...
By Vincenzo Villamena, CPA The 2017 Tax Cuts and Jobs Act created a new 20% deduction for pass-through income. At first glance, this sounds like a great tax saving for single-member LLCs and sole proprietors. Even shareholders and partners of S-Corporations and...
By Vincenzo Villamena, CPA Tracking travel expenses in order to get reimbursed or to deduct them from your taxes can be a lot of hassle. You have to keep detailed receipts for everything. One way however to simplify expense tracking is using a fixed per diem amount...
By John Hamilton, CPA As a US expat working abroad, you may have been offered a foreign life insurance policy. While this may sound like a good idea, it could be fraught with unintended US tax consequences. Oftentimes the foreign life insurance policy does not meet...
By Vincenzo Villamena, CPA Update The 2017 tax reform brought new taxes for entrepreneurs with foreign businesses, including the transition tax on retained foreign earnings. The transition tax was a one-time event - it was there to be a transition from the pre-2017...
This article has been moved to the website of our new brand Entity Inc, specialized in US business formation, tax & compliance for global entrepreneurs. You can read it here.
This article has been moved to the website of our new brand Entity Inc, specialized in US business formation, tax & compliance for global entrepreneurs. You can read it here.
