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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 […]
How Florida’s Sales Tax Audit Sampling Works for Restaurants? Read More »
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,
Colombian SAS, CFC Rules, and Form 5471 for U.S. Taxpayers Read More »
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
Own a Colombian Company? CFC Rules May Affect Your U.S. Tax Return Read More »
¿Su cliente residente fiscal colombiano tiene ingresos de fuente estadounidense, impuestos pagados en EE. UU., retenciones en EE. UU., deducciones estadounidenses u obligaciones de reporte en EE. UU. que deban coordinarse antes de finalizar la declaración colombiana? Si usted es contador público, asesor tributario o firma contable en Colombia, esa pregunta debe aparecer temprano cuando
Por Ed Parsons, CPA Respuesta rápida No todo colombiano que vive en Colombia y tiene dinero o activos en Estados Unidos necesita presentar una declaración de impuestos en EE. UU. Pero si usted tiene renta de una propiedad en EE. UU., vendió real estate en EE. UU., tuvo retención FIRPTA, opera una U.S. LLC, recibió
Refund Grande, Preparador Barato y Taxes que No Cuadran: El Riesgo Real para Colombianos en Miami Un refund grande se siente bien. Especialmente cuando usted trabaja duro, paga renta, mantiene familia, manda dinero a Colombia, y siente que cada dólar cuenta. Pero hay una pregunta incómoda que muchos Colombianos en Miami necesitan hacerse: ¿Ese refund
You have cuentas en Colombia, and now you are seeing two terms everywhere: FBAR and Form 8938. They sound similar. They both involve foreign accounts or foreign assets. They both can matter for Colombian taxpayers in Miami. But they are not the same form, they are not filed the same way, and filing one does
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You live in Miami. You filed a U.S. tax return. But you also have Colombia in your financial life. Maybe you earned income in Colombia. Maybe you received rent from an apartment in Medellín, Bogotá, Cali, Cartagena, or Barranquilla. Maybe you have Colombian bank accounts, a pension voluntaria, dividends, interest, business income, or taxes paid
Do Colombians in Miami Need to Report Colombian Income on U.S. Taxes? Read More »
Worried que te prepararon mal los taxes? Learn what Colombians in Miami should check first, including ingresos de Colombia, cuentas en Colombia, refunds, IRS transcripts, pensiones, property, and foreign tax credits.
Me Prepararon Mal Los Taxes? What Colombians in Miami Should Check First Read More »
Form 8938 is required for U.S. taxpayers with foreign financial assets above $50,000 (single filers in the U.S.). Missing the filing deadline triggers an immediate $10,000 IRS penalty. Every 30 days of non-compliance after an IRS notice adds another $10,000. The IRS Streamlined Filing Compliance Procedures can reduce or eliminate that penalty if your failure