As an extension and follow-up to the 2012 Offshore Voluntary Disclosure Program, the IRS offers taxpayers reduced penalties with income from offshore accounts. The program offers significant benefits for taxpayers to disclose foreign accounts and avoid the risk of an audit and possible criminal prosecution.
In Part 2 of her video series, Melinda Fellner Bramwit explains the current program options for an Asset-Based Penalty or an Income-Based Penalty.» Read More
Melinda Fellner Bramwit discusses one’s options for disclosing offshore assets in the first video of a six-week series. Stay tuned over the next few weeks to learn more about the offshore voluntary disclosure program and the streamlined filing process for residents and non-residents.
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If United States business owners start closing up shop and relocating to Spain, don’t be too surprised. In 2013, the country passed a law that granted a visa for foreign entrepreneurs as long as they had a government-vetted business plan, health insurance, and money to support themselves. This along with lower costs, fewer competitors, and an abundance of talent that comes at a much cheaper price than the United States, is luring business owners overseas. » Read More
There are many types of business structures (Sole Proprietorship, Partnership, Limited Liability Corporation, Cooperative, C Corporation, S Corporation) and each one affects taxes differently. If you want, or are planning on opening a business, the choice is very important, especially when it comes to taxes. Check out the comprehensive research graphic below detailing the definition of each structure, the advantages and disadvantages, required tax forms, tax requirements, and more.» Read More
So you’re thinking about expanding internationally; now what? Please join Norris McLaughlin & Marcus, P.A., PNC Bank, and The Alternative Board for a complimentary seminar on how to expand your business into international markets. The seminar is designed for business owners, professionals, and others responsible for managing business operations, and will offer practical information on how you can be successful in the global marketplace. » Read More