To Minimize Taxes For Years To Come, Consider Incorporating Your Business In 2013

By Dustin Covello Choice of entity is one of the first and most important tax-planning decisions that any entrepreneur must make. Conventional wisdom holds that most entrepreneurs should organize their businesses as “pass-through” entities – primarily limited liability companies, partnerships, subchapter S corporations, or sole proprietorships. Pass-through entities are not themselves taxable. Rather, all of … Continue reading To Minimize Taxes For Years To Come, Consider Incorporating Your Business In 2013

Form 8938 – Foreign Reporting Trap for the Unwary

By Sebastien Chain and Tamara Woods Beginning with the 2011 tax year (i.e., for returns filed April 17, 2012 or later), individual taxpayers will be required to file Form 8938 if he or she has an interest in a “specified foreign financial asset” (“SFFA”) (click for additional information on FATCA requirements) that has a value exceeding a certain threshold.  … Continue reading Form 8938 – Foreign Reporting Trap for the Unwary