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For Streamlined Domestic Compliance Procedure, Does One Need To Include Form 8938 Along With 1040x Even If They Did Not Meet 8938...
User Photo Manasa Nadig
Tax Professional Level: Tax Enthusiast

You do NOT have to include Form 8938 with a Form 1040X if the taxpayer did not meet the 8938 thresholds for the year the 1040X is being filed. The instructions speak of certain forms like the 3520 that in earlier...   Read More
For A Sole Proprietor Outside US Is The Foreign Earned Income Exclusion Based On Gross Income Or Next Taxable Income?
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

The foreign earned income exclusion for a sole proprietor is based on the net income shown on Schedule C. Keep in mind that the exclusion is only for income taxes, you will still have to pay self-employment taxes...   Read More
Do Most States Within The United States Offer Movie And Television Production Tax Incentives?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, most states currently offer Movie and Television Production Tax Incentives (hereinafter “MPIs”). MPIs are tax benefits offered on a state-by-state basis throughout the United States to entice, as...   Read More
I'm A South African Residing In South Africa (thus US Alien). I Have A LLC In The US. The LLC Will Receive Income FromUS Dividends,...
User Photo Cecilia Scutaru Andor
Tax Professional Level: Tax Enthusiast

A little idea about the dividends US-SA tax treaty :"The Convention establishes maximum rates of tax that may be imposed by the source country on specified categories of income, including dividends, interest, and...   Read More
I Am A US Citizen. My Residence Is In South Africa (I Stay There > 183 Days A Year). I Work Exclusively In The US And My Salary Is Paid...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Since you reside in South Africa for more than 183 days each year, and I presume you have been doing this for more than three years, you are considered a SA resident subject to income tax on your earnings. If less...   Read More
I Am Selling The Stock Of My SCorporation And Am Wondering What My Document Retention Policy For Prior Years Should Be. Do I Pack Up All...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

If you are selling the stock, you are selling the company to the new buyers. They own the company and the historical records. All you need are records of your cost basis in the stock and the sales price.   Read More
Are There Suggestions For Comparing Benefits From Structuring An Installment Sale Of Commercial Real Estate Versus A Cash Out Sale?
User Photo William Rogers, CFP, MBA, EA
Tax Professional Level: Tax Enthusiast

The best analysis is to compare side by side the after tax proceeds of the cash sale and then assume a theoretical rate of return on the reinvested proceeds i.e. 10%. And, compare that to the after tax proceeds of...   Read More
The Tax Pro Who Did 2011 Return Did Not Include Form For AMT Credit For AMT Paid In 2010. Is It Still Possible To Get Credit Or Is It Too...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

Sorry, but that ship has sailed. The credit must be used each year in which you are eligible to use it. You can't file amended returns, as you can only do that for 3 years, meaning you can only go back to 2013 at...   Read More
I Prepared Returns For Several Clients Who Live Outside The United States And Have Recently Learned About PFIC Reporting. Tracking It On A...
User Photo Mary Beth Lougen EA USTCP
Tax Professional Level: Tax Enthusiast

Form 8621 is very labor intensive. The IRS estimates that it can take up to 24 hours to complete. There is a new online program available that prepares the form and attachments as well as provides a forms guide to...   Read More


Meet Leading Tax Advisors

User Photo John Stancil

Lakeland, Florida, USA

Tax Advisor/CEO

User Photo Peter J. Scalise

New York, New York, USA

Federal Tax Credits & Incentives Practice Leader

User Photo John Dundon, II EA

Denver, Colorado, USA

Tax Director

User Photo Steven Potts JD EA IAR

Fullerton, California, USA

Principal

User Photo Devon McCarthy FCCA, EA

Sanford, Florida, USA

President

User Photo Caran Ebert, CPA

Topanga, California, USA

Tax Advisor

User Photo Randy Tarpey

Tyrone , Pennsylvania, USA

Owner

User Photo Lisa Nason CPA, MST

Greenville, South Carolina, USA

Managing Shareholder

User Photo William Rogers, CFP, MBA, EA

Rancho Santa Fe, California, USA

CEO/Certified Financial Advisor

User Photo NEERAJ BHATIA, CPA

Santa Clara, California, USA

Tax Principal - President

User Photo Bill Robinson, CPA

Chattanooga, Tennessee, USA

Owner

User Photo Hugo Van Zyl

Stellenbosch, South Africa

Exchange Control & Master Tax Practitioner (SA)

User Photo Douglas Stransky

Boston, Massachusetts, USA

Tax Partner, International Tax

User Photo Larry Stolberg, CPA, CA

Toronto Mississauga Oakville Burlington Hamilton, Canada

Tax Specialist

User Photo Chad Hatalla

Rheinfelden, Switzerland

Senior Tax Manager

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