Lending to family members dates back to the creation of money. The IRS entered the mix a great deal later, but it now looms large in the equation. Tax problems can arise when you first lend money, as you’re being repaid, or if you’re not repaid. The issues usually involve: imputed income, gift tax, or… Read More »
In this issue of In the Loop Magazine learn how to make the perfect home office and how to use technology to save on home costs.
As a non-U.S. citizen, incorporating a business in the United States is generally similar to the procedure required for a U.S. resident. Because U.S. citizenship and residency are not necessary, non-U.S. citizens are welcome to start or expand on American soil without jumping through any more hoops than a U.S.-born business owner. However, companies owned… Read More »
Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It is important, however, to know that… Read More »
Spring has officially sprung and we’re working like busy bees on client tax returns these next few weeks before April 15th, and I would like to say: if you have not yet done so, we need to get your information to complete your return as soon as possible. This has been a very busy season… Read More »