Category: Taxes

DISCOVER NEW OPPORTUNITIES UNDER TAX CUTS AND JOBS ACT

Congress has passed, and President Trump signed the Tax Cuts and Jobs Act. Although continued study of the bill will undoubtedly reveal additional opportunities we wanted to provide some of the immediate impressions. Significant Changes to Business Taxation If you own a business or are thinking about starting one, contact a tax attorney immediately. Relying [..]

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LIVING TRUST ADVANTAGES – PART 2

Today we will continue to explore the living trust advantages and benefits. Part 1 of this post discussed such benefits as avoiding the probate proceedings, minimizing the emotional stress on the family, preventing conservatorship, and preserving privacy. In addition, the living trust advantages include the following: Centralized Management. The assets transferred to a living trust [..]

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WHAT IS A REVOCABLE LIVING TRUST?

 The Living Trust Series Part 1  We all have at least a basic understanding as to the substance and meaning of a will. But the concept of a trust often sounds foreign, complicated, and confusing. This blog post series will attempt to resolve the mystery and explain the most important issues, such as What is a [..]

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WHAT IS THE NUMBER ON YOUR IRS NOTICE

  A Quick Guide to the IRS notice numbers. If you have received a notice or a letter from the IRS,  you most likely have also spotted a number for the correspondence. If you guessed that this number means something, you are absolutely correct. The IRS uses standardized text to address specific issues and numbers most [..]

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U.S. Taxation Basics for Foreigners

Business expansion to the United States will inevitably create tax consequences for foreign investors and enterprises. This post will discuss the basic concepts of U.S. Taxation that foreigners doing business in the U.S. need to be familiar with. In general, foreigners engaged in a trade or business will be taxed on two categories of income: [..]

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