Insights

Most people find out what they owe in taxes once a year, in April, when it is too late to do anything about it. A tax projection flips that around. It shows you your likely tax bill while the year is still in motion, so you can still make choices that change the number. Here is what a projection is, who benefits most, how often to run one, and which changes are big enough that yours should be updated. This article is for general information only and is not tax, legal, or fina

After months of waiting for guidance, the accounts are now live. Contributions opened on July 4, 2026, families are claiming the $1,000 government deposit, and employers are starting to offer contributions as a workplace benefit. If you are a parent, grandparent, or guardian, here is what you need to know, and the tax details that are easy to get wrong. This article is for general information only and is not tax, legal, or investment advice. Rules and guidance may change, so

Most people find out what they owe in taxes in April. By then the year is over, the decisions are made, and all that is left is to report the result. Tax planning flips that order. It looks at the tax impact of your choices while you can still change them. That one shift can lower your tax bill, smooth out your cash flow, and turn filing season from a surprise into a formality. Below, we explain what tax planning really is, who benefits most, the myths that keep people from d

The One Big Beautiful Bill Act, signed in July 2025, is the biggest federal tax change since 2017. Some of it already showed up on the 2025 returns you filed this spring. More of it takes effect in 2026. Here is a guide to what changed, who it affects, and what you can still do before December 31. This article is general information, not tax or legal advice. Your situation may be different. The Changes at a Glance What changed 2026 amount How long it lasts Standard deduction

What is Streamlined Disclosure? “Streamlined disclosure” is a common name for the IRS Streamlined Filing Compliance Procedures. These procedures allow eligible individuals to correct certain past U.S. tax and foreign asset reporting failures when their conduct was non-willful. The IRS defines non-willful conduct as negligence, inadvertence, mistake, or a good-faith misunderstanding of the law. For example, someone might discover that: Their foreign bank account required an an

Understanding LLCs and S Corporations The most important distinction is that an LLC is a legal structure, while an S corporation is a federal tax classification. A limited liability company, or LLC, is formed under state law and may have one or multiple owners. Depending on the state and how the business is operated, an LLC can offer liability protection, flexible management, and fewer formal requirements than a corporation. For federal tax purposes, an LLC may be classified

Expanding into the U.S. market can create significant opportunities for foreign businesses, but it also introduces a complex range of tax and reporting obligations. Understanding these requirements before establishing operations can help your company remain compliant, avoid costly penalties, and make informed decisions about how to structure its U.S. activities. Foreign companies may be subject to federal, state, and local taxes, along with international reporting requirement

A gift or inheritance from family abroad may be a welcome surprise. It can also raise a question that is easy to miss during tax season: Does the gift need to be reported to the IRS? For U.S. recipients, the answer depends on who gave the gift, how much you received during the year, and whether the transfer was truly a gift. When Does a Foreign Gift Need to Be Reported? If you are a U.S. person, you may need to file Form 3520 when gifts or bequests from foreign sources exceed

For many individuals—especially those with international ties—giving up U.S. citizenship or relinquishing a green card is a life-changing decision. Before taking that step, it is essential to understand one of the most significant and commonly misunderstood tax consequences: the U.S. exit tax. Our firm has extensive experience helping individuals navigate international and cross-border tax matters, including the complex rules surrounding expatriation. In this article, we expl

Moving abroad can bring exciting personal and professional opportunities, but it can also create complex tax and reporting obligations. U.S. citizens and green card holders are generally subject to U.S. tax on their worldwide income, even while living and working in another country. Depending on the destination country and the individual’s circumstances, income may also be subject to foreign taxes. Tax treaties, foreign tax credits, and certain exclusions may help reduce doub