Insights

A business can be profitable and still lose valuable cash flow to unnecessary taxes, penalties, or an entity structure that no longer fits. That is why many owners eventually ask whether an LLC or an S corporation would be the better choice. The comparison is not as simple as “S corporations save more” or “LLCs are easier.” An LLC is a legal structure created under state law, while an S corporation is a federal tax classification. In many cases, a business can remain an LLC

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

Summary The recent enactment of the "One Big Beautiful Bill Act" (OBBBA) marks a significant update to the U.S. tax code, bringing both permanent changes and temporary provisions that will impact individuals, families, and businesses. Signed into law on July 4, 2025, OBBBA builds upon the 2017 Tax Cuts and Jobs Act (TCJA) and introduces new elements that can reshape tax planning for years to come. This article provides a summary of the key tax provisions within OBBBA. Summary