Sep 6, 2023 | Business U.S. Expat Taxes, Personal U.S. expat taxes
Controlled Foreign Corporations (CFCs) are a hot topic for U.S. expats who own or are considering owning a foreign company abroad. Understanding the U.S. tax implications of a CFC is crucial for compliance and optimal tax planning. This article aims to provide a... 
Aug 2, 2023 | Business U.S. Expat Taxes, Canadian Tax
As a US expat living in Canada, you may find yourself navigating the complex landscape of international taxation. One of the key areas of concern is the Global Intangible Low-Taxed Income (GILTI) tax on Canadian-Controlled Private Corporations (CCPCs). This article... 
Apr 10, 2023 | Business U.S. Expat Taxes
For US expats who own businesses in foreign countries and need to file Form 5471, the recent Farhy v. Commissioner decision by the US Tax Court may be of interest. On April 3, 2023, the U.S. Tax Court made a decision in Farhy v. Commissioner regarding penalties for... 
Mar 17, 2023 | Business U.S. Expat Taxes, Personal U.S. expat taxes
In this blog post, we will provide a comprehensive overview of the GILTI tax, who is subject to it, and how it affects multinational corporations. We will also discuss the tax rates for GILTI income, and how to comply with GILTI tax regulations. We understand that... 
Mar 13, 2023 | Business U.S. Expat Taxes, Personal U.S. expat taxes
Are you an expat who owns a foreign business? Filing taxes can be complicated, but adding a business to the mix can make it even more challenging. If you own a foreign disregarded entity, you may be required to file Form 8858. But what exactly is a foreign disregarded... 
Feb 11, 2021 | Business U.S. Expat Taxes, Personal U.S. expat taxes
The PFIC rules apply to US persons. I.e. individuals, corporations, estates and trusts who are US residents or US citizens. US citizens living overseas invest in foreign investment vehicles, as that’s where they live. With it may come a bad surprise. A punitive...