17 years ago, Congress enacted a new federal tax on gifts and bequests received by a U.S. person from those who relinquished the U.S. citizenship or residency. On January 14, 2025, the IRS published the final regulations. The IRS is yet to release the new Form 708 U.S. Return of Gifts or Bequests from Covered Expatriates.

The Internal Revenue Service announced on January 10, 2025 tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on Jan. 7, 2025. This blog navigates the IRS tax relief items and provides related notes.

The RMD rules have significantly changed due to the passage of the SECURE Acts enacted in 2019 and 2022. Several provisions of SECURE 2.0 have become effective in 2025. If you have IRAs requiring RMDs, it is crucial to understand the changes and review your tax strategies and estate planning.

Did you change your marital status recently? Here are a few thing the IRS recommends you do.

The new accounting standards are out for the U.S. financial reporting of crypto assets for entities. Are you ready? This blog article takes a quick look at what is ahead of those with crypto holdings in the entity asset components.

The Year of the Snake encourages shedding the past and embracing transformation. This article explores the importance of starting, reviewing and updating your estate plan to ensure your wishes are fulfilled and your loved ones are protected.

A tax home is critical in determining your tax obligations and implications. This blog article discusses the basic concepts and practical tips for global taxpayers in understanding a tax home.

 The clock continues to tick. Here are the upcoming deadlines for filing your Business Ownership Information (BOI) reports with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

It’s important to choose the right business structure for a family business.

Proactive money talks and tax planning lead to a financial success for an international couple with U.S. tax implications.

More than half of middle-aged Americans care for both older parents and their children. Planning and preparation is important for the physical and financial wellbeing of this “sandwich” generation.

Most of Americans now live until 84.1 years old, but the average “healthy” life expectancy is 78.9 years. This means most of us will likely spend 6 years dealing with illnesses until death. It is essential to have a plan for long term care.

Medicaid is a joint federal-state program that provides medican assistance to American who are 65 or older and meet certain income criteria. This blog talks about basics of Medicaid eligibility and planning.

The basic estate planning consists of a will, a power of attorney, and an advance directive (living will). A will can be a great anchor for your estate plan.

Income tax basis can be a critical consideration in estate planning.

Before you decide on moving to/from the U.S., don’t forget to add U.S. tax (with a question mark) in your checklist.