Foreign Accounts? Know Your Taxpayer Obligations
Foreign Bank Account Report, or more commonly known as FBAR, originally started as part of the Bank of Secrecy Act in 1970. It was designed to strongly discourage and help prevent tax evasion. But what is FBAR, exactly, and what does it mean for you? FBAR is a...Virtual Investments and the IRS
On March 23, 2018, the IRS announced that it was cracking down on online currency investments. Much like any other type of property income, Bitcoin, Etherum, and other virtual currencies involve income taxable by law. In February 2018, the IRS forced the largest of...FIRPTA Withholding
Are you buying or selling real property in Hawaii? If so, are you familiar with the tax rules known as FIRPTA? That’s the Foreign Investment in Real Property Tax Act of 1980. It was designed to guarantee that federal income tax liability arising from the gains of...Tax Breaks, and a Fiscal Health Warning
The end of the year is closing in, and that means that, if you haven’t already established a tax file, you need to start organizing receipts for the deductions you plan to take on your 2017 individual tax return. Don’t forget about Uncle Sam’s sweet tax breaks, even...Thanks For Visiting
Thanks for visiting our website! Christy and Toby look forward to speaking with you soon about your tax matters.