School is out and you are wondering how to keep your kids occupied for the summer – why not think about hiring them to work in your business?  This is an option for many business owners as long as the federal and state laws are followed.  You need to treat your child as ...

Here is a recap of the proposals in both the House and the Senate, that could affect your business in 2018 and beyond....

Republican House and Senate negotiators released a final tax bill on Friday bridging differences between the House and Senate bills and appeared to lock down the votes needed to passage....

UNICAP is short for Uniform Capitalization.  That probably doesn’t even help explain it.  The IRS Code Section 263A is all about the Uniform Capitalization rules.  In general UNICAP is the amount of costs that a company needs to capitalize related to their inventory....

Built-in Gains tax is a BIG bad wolf.  Every business owner should strive to avoid the built-in gains (BIG) tax like you would avoid the BIG bad wolf.  It’s not always possible to avoid it, but by planning ahead you can definitely minimize it.  So what is the BIG tax an...

The largest subset of US expats are living in Canada. Our neighbor to the north is the place where we have the most clients residing outside of the US and there are some common issues that...

If you are a US expat, the requirement to file a US tax return can be painful but the tax liability doesn’t need to be. There are three main ways that expats can reduce their US tax liabilit...

What is the FBAR (also known as FinCen Form 114), and why is it so important? An FBAR is a report filed with the Financial Crimes Enforcement Network which is part of the Department of Treas...

What is a US expat? An expat is a US citizen who is living in a foreign country. For some people it’s a US citizen that has been transferred to another country for work purposes on...

For every single individual taxpayer who has a mortgage on their principal residence, your mortgage rate just went up with the new tax bill and I can prove it. ...

For business owners with vehicles in their business the new tax bill has a few wrinkles that will affect how you treat those vehicles. There are two big items to discuss. ...