Category: Individual Tax

Republican House and Senate negotiators released a final tax bill on Friday bridging differences between the House and Senate bills and appeared to lock down the votes needed to passage....

The largest subset of US expats are living in Canada. Our neighbor to the north is the place where we have the most clients residing outside of the US and there are some common issues that...

If you are a US expat, the requirement to file a US tax return can be painful but the tax liability doesn’t need to be. There are three main ways that expats can reduce their US tax liabilit...

What is the FBAR (also known as FinCen Form 114), and why is it so important? An FBAR is a report filed with the Financial Crimes Enforcement Network which is part of the Department of Treas...

What is a US expat? An expat is a US citizen who is living in a foreign country. For some people it’s a US citizen that has been transferred to another country for work purposes on...

For every single individual taxpayer who has a mortgage on their principal residence, your mortgage rate just went up with the new tax bill and I can prove it. ...

Minnesota legislators recently passed a long overdue tax relief bill. The bill provides nearly $650 million in relief to Minnesota businesses and individuals. A summary of the highlights of the bill are listed below:...

Listed property is a term for vehicles that are specifically listed out on Form 4562 when you file your tax return. ...

Tax returns have lots of things that you need to sign.  There are signature pages for e-filing a tax return, there are different pages to sign if you are paper filing a return.  Sometimes you need to sign tax elections, or tax engagement letters.  There can be a lot of di...

Wondering if you can deduct your pet costs?  People often treat their pets like children, but no matter how much money you spend on that pet the tax code doesn’t allow you to claim your pet as a dependent.  In general the expenses for the family pet won’t be tax deduct...

A like-kind exchange is just that; an exchange of things that are similar.  They can be very useful in deferring gains on depreciated property.  The last post was about business vehicles, but there are many kinds of assets that can qualify for a like-kind exchange....

About this time of year (and for the next month or so), you might receive a corrected Form 1099 from your broker....