Foreign Owners of US LLCs (single-member) Must Report to IRS
Foreign owners of single-member US LLCs now forced to report to tax authority (IRS).
If Artwork can’t be sold should it valued at $0?
A recent article in the New York Times covers an interesting position taken by the IRS in relation to a piece of artwork entitled “Canyon” and created by Robert Rauschenberg (the “Artwork”). The “sculptural combine” Artwork includes a…
Expatriation Tax Implications of Renouncing US Citizenship or Surrendering a Green Card
Many residents of Canada have connections to the US, ranging from business interests, ownership of recreational or retirement properties, children attending US colleges, etc. Furthermore, there are many US individuals residing in Canada, also for reasons of work,…