Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

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Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

Read More

Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

Read More

Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

Read More

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

Read More

Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

Read More

Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

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Part 6 – “Surely, expatriation is NOT worse than death! The two million asset test should be raised to the Estate Tax limitation – approximately five million dollars – It’s Time”

Introduction

Many Americans abroad have had their lives turned upside down by the combination of FATCA and the enforcement of U.S. “place of birth” taxation. Those who are “long term” residents abroad find themselves caught between a “rock and a hard place”.

On the one hand they can’t afford the costs and complexity of filing U.S. tax returns.

On the other hand, many “middle class” Americans abroad cannot relinquish their U.S. citizenship (freeing themselves from the complexity of U.S. tax laws and the IRS) without Read More

“The “Exit Tax” in action – Five actual scenarios with 5 actual completed U.S. tax returns.”

In order to see the graphic and brutal confiscatory effects of the U.S. Exit Tax in action I asked a licensed U.S. CPA who specializes in International Tax to consider the following scenario:

Relinquishment date: A person who renounced U.S. citizenship on November 1, 2014.

Profile: He was a “middle class” person who was completely tax compliant in his country of residence. He was a saver and investor. He had worked hard for this money. Read More

Since 1999 I’ve been provided tax revision courses for all the main accountancy qualifications including ACA, ACCA and CPA through my business Tax Grinds here in Dublin city centre.

In 2013 the published pass rates were as follows:

• CPA 43% (Advanced Tax)
• ACCA 41% (P6 – Advanced Tax) dropping to 39% in 2014
• ACA 63% (Overall)

Students fail their professional exams for a variety of reasons but the main one is the wrong study technique. Read More

Everyone agrees that taxes are getting more complicated with every passing year. In our busy lives, staying on top of things is getting very difficult. To add to this if we have to keep track of our household budget, our 401(k)’s, our mortgage & insurance rates, our financial records, and so on, it is sometimes best to leave our individual & small business taxes to professionals. A very good software is still dependent on proper data entry and understanding the bottom line. I know a lot of people who prepare their own taxes but I know of more who miss out on simple things that changed from the previous year.

If you have to pick a professional to prepare your taxes, the Internal Revenue Service urges that you make a wise decision. Always remember, even if someone else prepares your Tax Return, the Taxpayer is still the person responsible for the contents. So choose Read More

This topic seems like a simple one. But tax CPAs (auditors seem to have less trouble with this one) are terrible at accepting praise. We are so trained by our conversations with clients (and the public accounting profession) to qualify every sentence that we always see the glass as half empty instead of half full. Therefore, when tax accountants finally do get praised for something they tend to do one of the following:

1. Say thanks, “But it was no big deal. Others could have done it too”.
2. Try to spread the credit among several people so that their part seems small. Trust me. The partner already knows it was a “team effort”. The tax partner or manager has already claimed plenty of credit for making the project a successful one. They are thanking you for making them look good. Read More