Personal Tax

April 1 - Last Day to Withdraw Required Minimum Distribution Last day to withdraw 2017’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2017. Failing to make a timely withdrawal may result in a penalty equal to 50% of the amount that should have been withdrawn. Taxpayers who became 70½ before 2017 were required to make their 2017 IRA … [Read more...] about April 2018 Individual Due Dates

If you ever wanted proof that quality company leadership is critical to an organization's success, look no further than the old saying of "people don't quit their jobs. They quit their leaders." To that end, being an efficient CEO involves a lot more than just "having a vision" or "barking orders." It's not about commanding anyone to follow your lead - it's about showing, … [Read more...] about What Makes a Great CEO? Personality, Perseverance and Perspective

Article Highlights: Virtual CurrencyValuationTransactionsCharacter of the Gain or LossForeign Currency TransactionsForeign Bank and Financial Account (FBAR) ReportingPayment for Goods & ServicesAcquiring Virtual CurrencyVirtual Currency MiningEmployee PaymentsIndependent Contractor Payments As our world has become more and more “digital,” it was only a matter of … [Read more...] about Cryptocurrencies and Taxes

Article Highlights: Standard DeductionsItemized DeductionsBunching StrategyMedical ExpensesTaxesCharitable Contributions Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and … [Read more...] about Is Bunching Right for You?

Article Highlights: Foreign Earned Income ExclusionHousing ExclusionForeign Informational ReportingForeign Corporation IncomeForeign Tax Credit1040 ChangesMoving Deduction Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which was passed in late December 2017, … [Read more...] about Living Abroad? Here Is How Tax Reform May Affect You