US-Canada Income Tax Treaty exempts some Canadians who work in U.S.
Due to its proximity with one another, people often commute to Canada or to the U.S. to work or they may temporary work in one country for a short period of time. The US-Canada Income Tax Treaty,...
Category: Tax Law
FIRPTA Withholding Rate Increase
If you are a foreign individual and you are selling your property, or if you are a buyer purchasing property from a foreign seller, then you are likely subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA).
In the past, settlement agents...
Overdue Taxes Can Revoke Your U.S. Passport
Overdue Taxes Can Revoke Your U.S. Passport
A new law was recently passed that means overdue taxes can revoke your U.S. passport. This new law can take passports away from thousands of Americans if they take too long to pay their taxes. The new law is in...
Immigration & the New Estate Tax Limit
U.S. Citizens can shield up to $5.45 million (per person) of their U.S. estate from federal estate taxes.
According to the IRS, an estate tax is a tax on your right to transfer property at your death. It consists of an account of everything you own or have certain...
Florida Property Taxes Now Due
Florida Property Taxes Now Due - Get a discount for paying early.
Whether you flip residential houses in Florida or own commercial real estate located in Florida property, Florida taxes are now due for all owners of property located in the state. These 2015...
Company Attorney Fees Tax Deductible
Company Attorney Fees Tax Deductible. Pay by Dec. 31, 2015 to claim on your 2015 taxes.
According to the Internal Revenue Service (IRS), "to be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted...
Purchasing a Property from a Foreign Seller? FIRPTA Required!
If you are purchasing a Florida property, then it is important to know if the seller is a foreign seller. It is also important to remember that all sellers are assumed to be foreign until proven otherwise.
Be careful with the definition of “foreign seller,”...
Florida One of Top States for Low Tax Burden
According to a recent study by WalletHub, Florida is in the top 10 states for the lowest tax burden on “High Income” and “Middle Income” taxpayers.
It is also the only southeastern state in the top 10 states with a low tax burden, other than Alabama,...
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