Category: Individual Tax

As there are more and more data breaches affecting consumers, identity theft issues area at an all-time high.  It is the number one complaint reported to the Federal Trade Commission. Judging from recent news reports, this doesn’t seem to be getting any better....

About nine percent of the estate tax returns reporting gross estates of $5 or more were audited by the IRS during 2014.  And the bigger the estate the more likely the audit....

With federal changes to the way 529 plans work in Dec 2017 and MN changes to the way 529 plans work passed in summer 2017 now seems like the perfect time to take a deeper dive into a subject which many people have some awareness around, but perhaps don’t fully understand a...

There are three different flavors of Form 1095 and most people don’t know much about them, so what’s the scoop with the 1095-A, B, and C?...

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....

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. ...

Minnesota legislators recently passed a long overdue tax relief bill. The bill provides nearly $650 million in relief to Minnesota businesses and individuals. A summary of the highlights of the bill are listed below:...