Have you ever received an email from a “Nigerian Prince” offering you money? How about a mailer informing you that you’ve “won” $1.5 million? Or phone calls to discuss your car’s “extended warranty”? Sometimes it can feel like there’s a fraudster lurking around every corner. Most of the time, when we’re faced with a potential…
The IRS focuses on small business owners and provides tips and tax benefits to help them get the most out of their operations. First, many small business owners can claim the home office deduction. To qualify, a business owner must use a specific room in the home exclusively for business. To claim the credit, filers…
Identity theft occurs when a piece of your personal information is stolen and used to commit fraud. If your data is accessed, it could be used to open new accounts, make unauthorized purchases, or file taxes for a fraudulent refund. The IRS may reach out to you via mail should there be any suspicious activity…
Moving to a foreign country can be exciting. During a time when many expats are learning a new way of life, they may forget about old responsibilities. This can lead to overdue taxes. The IRS’s Streamlined Filing Procedures may be able to help. How Does Streamlined Filing Work? Today’s Streamlined Filing Procedures were introduced in…
The Tax Fairness for Americans Abroad Act of 2018 (H.R. 7358) was introduced last December. This legislation applies to anyone with a non-resident citizen status. Ending citizenship-based taxation would require rewriting almost all the current tax code. Instead, steps are being taken to help address issues for expats who live overseas. What Does the Tax…
2019 marks the twentieth year anniversary of this exuberant holiday, so get ready to put that smile on your face! This holiday is based on the premise that happiness is unlimited and contagious. It can bring a lot of joy to you and others. While being happy can mean different things to different people, Happiness…
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