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Streamlined vs Traditional Tax Resolution
Compare streamlined and traditional tax resolution procedures. Edward Parsons CPA helps you catch up on US taxes with reduced penalties in Doral, FL.
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International Tax Obligations: Critical Consequences
Discover the serious consequences of ignoring international tax obligations. Edward Parsons, CPA explains cross-border tax rules and compliance requirements.
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FBAR Regulations: Reasons Non-Compliance Can Cost You
Understanding FBAR regulations is crucial; non-compliance can lead to hefty penalties. Learn about the costs and stay informed to avoid pitfalls.
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Understanding the Consequences of a Federal Tax Lien
Meta Description: “A federal tax lien can severely affect financial health. Learn the implications and steps to regain control of your finances effectively.
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Essential Guide to Form 5471: Handle GILTI with Confidence
Master Form 5471 and GILTI compliance effortlessly. Learn how U.S. shareholders can navigate controlled foreign corporation tax obligations effectively today!
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CPA Guide: How to Achieve Expat Compliance Easily
Unlock the secrets to achieving expat compliance with our comprehensive CPA guide. Learn how to stay current and simplify your expat journey effortlessly.
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How to Calculate the PFIC Income Test (the 75% Rule)?
By Edward Parsons, CPA | Ed Parsons CPA, Doral, Florida | Representing taxpayers nationwide The PFIC income test asks one question: in a given tax year, is 75% or more of a foreign corporation’s gross income passive? Passive income means earnings like interest, dividends, rents, and royalties. If the answer is yes, the company meets
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How Florida’s Sales Tax Audit Sampling Works for Restaurants?
In a Florida restaurant sales tax audit, the Department rarely reviews every transaction. Instead it examines a sample, calculates an error rate, and projects that rate across your entire audit period, usually three years. Florida law under section 212.12 allows this when records are adequate but too voluminous to review in full. The danger for
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Colombian SAS, CFC Rules, and Form 5471 for U.S. Taxpayers
Colombian SAS, CFC Rules, and Form 5471 for U.S. Taxpayers By Ed Parsons, CPA | Updated May 2026 Featured snippet: A Colombian SAS, S.A., holding company, real estate company, or family business may create U.S. reporting issues for a U.S. citizen, green card holder, or U.S. tax resident. Depending on the ownership, control, entity classification,
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Own a Colombian Company? CFC Rules May Affect Your U.S. Tax Return
Own a Colombian Company? CFC Rules May Affect Your U.S. Tax Return By Ed Parsons, CPA | Updated May 2026 Featured snippet: If you are a U.S. citizen, green card holder, or U.S. tax resident who owns part of a Colombian company, the issue may be bigger than reporting Colombian income. Depending on the structure
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