The long-arm of the IRS has been further strengthened by an announcement from The Large Business and International Division (LB&I) of the IRS. Within the announcement were six new compliance campaigns, designed to specifically target US Expats and their taxes. A comprehensive summary of these campaigns have not yet been announced, however we have put together a summary of what we already know to keep US Expats in line with their filing obligations.Read More
Everyday we are contacted by a US Expat that had no prior awareness of their tax filing obligations. Realising that you have US tax filing obligations is often a very stressful and overwhelming moment.
This article is aimed to break down some of the basic tax matters around income as a US Expat.
If you have any questions after reading this article or would like support in getting up to date on your US Tax filing obligations, contact us.Read More
The tax reforms seem to be in the favour of small US businesses this year, however the savings are not being invested into recruitment leaving many job seekers in the dark.Read More
As a baby born in the bottom 20% income scale in Detroit, you are 50% less likely to make the top 20% income scale than a child in San Francisco. One way to increase your probability of making the top 20% income bracket would be to move. However, American citizens decreasing willingness to pick up sticks and move states, has led to the key US government objective of increasing income in the less fortunate areas.Read More
The 2019 tax filing season is in full swing and we are here once again to help photographer get their taxes right. This article is aimed at informing photographers living within the US on what they need to know as a tax filer. If you have any further questions after reading though this article, or if you would like us to prepare your 2019 federal tax return, contact us.Read More
January 28th saw the entry of another tax season. Several million returns have already been processed, however many are still confused as to whether they are obligated to file a tax return or not.
This article focuses on US citizens residing within the USA. Please note that there are different regulations for US expats. Feel free to contact us for details on filing a tax return as a US expat.Read More
As a graphic designer in the United States you are eligible to claim certain reliefs when filing your taxes with the IRS. If you are a freelance graphic designer, you can be considered a sole-proprietor and would claim your deductions for certain expenses on a Schedule C (Form 1040). Any business expense is eligible for deduction under the IRS if it is considered “ordinary and necessary,” meaning they are common in graphic design and are helpful and appropriate for graphic designer.Read More
To start business in the United States, it is important to determine whether or not the IRS would consider the start-up a “hobby” or a business. The IRS determines if it is a business when there is an expectation to earn a profit. According to the IRS, a business is for profit if they make a profit during at least three of the last five years (including the current year).Read More
With just a few months left of the US tax year, it is important to start prepare for the upcoming tax year in order to save against tax. Last December new legislation was passed that will affect nearly every business and self-employed worker in the US. Below is a list of just some of the changes to the US tax legislation that you must consider as a US business owner.Read More
As an accountants firm based in New York and London, we are expert in providing expert tax advice on how US companies can minimize against tax and maximize on profit.Read More