Tag Archive for enrolled agents

New Rules On Gifts & Inheritances From Expats Proposed By The IRS

Manasa Nadig - 9-23-15

We know that increasing globalization keeps us, Enrolled Agents, on our toes especially when we have to consider advising families, businesses and real property owners who have ties with the US and other countries as well. Thanks to my many clients who have business interests in other countries or still have ties/ families back in the countries they migrated from, I deal with cross-border issues quite often.

Interestingly, this summer we did a work-up for a client who had surrendered their green-card & left the country but due to their length of stay in the country, they could be considered “covered-expatriates”, the clients wanted to set up inheritances for their grand-children who are US citizens. Read more

10 Tips To Pick A Tax Preparer

TaxConnections Picture - TIPS 1 - square

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