Understanding FBAR regulations is crucial; non-compliance can lead to hefty penalties. Learn about the costs and stay informed to avoid pitfalls.
FBAR Regulations: Reasons Non-Compliance Can Cost You Read More »
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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Master Form 5471 and GILTI compliance effortlessly. Learn how U.S. shareholders can navigate controlled foreign corporation tax obligations effectively today!
Essential Guide to Form 5471: Handle GILTI with Confidence Read More »
Unlock the secrets to achieving expat compliance with our comprehensive CPA guide. Learn how to stay current and simplify your expat journey effortlessly.
CPA Guide: How to Achieve Expat Compliance Easily Read More »
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
How to Calculate the PFIC Income Test (the 75% Rule)? Read More »
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 ¿Necesita presentar impuestos en EE. UU.? 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