QUESTION: I was curious what are the reporting rules for selling either gold, silver, or palladium. I think someone told me that if you sell less than 100...
The GST tax (Generation Skipping Transfer Tax) is an estate tax that is imposed on transfers to grandchildren or other children of living persons -- like...
QUESTION: What can I do to protect my savings from a collapse of the U.S. dollar? Everywhere I turn I see evidence that the U.S. is bankrupt. We have a massive...
At the last minute -- before a budget gimmick in 2001 would have caused a huge tax increase for everyone -- the Bush tax cuts were extended for two more years,...
QUESTION: I sent you some questions about structuring a foreign corporation in Hong Kong that is the owner of a LLC in Nevis. But it's been nearly a month...
As much as possible, I try to avoid overly technical details in my replies to the questions I receive. But sometimes, those seemingly technical details can...
QUESTION: I had a hybrid self-settled grantor trust with both a foreign trustee and also with myself as US Co-Trustee. The drafter purposely made the language...
Here's another comment in response to the previous memos about how Mexico taxes a non-resident citizen/national. (Vern) = = = = = = = = = = = = = I have lived...
Here are three followup responses to the question about how Mexico taxes a non-resident citizen (national). According to an article by Deloitte Touche, Mexican...
QUESTION: Read your note on expatriation - would Mexico fall into one of the countries you could live in-establish citizenship and not pay taxes once out of...
QUESTION: Can you please explain to me the logic for why the 3520-A has its own timing structure? In general, Form 3520 is due on the date that your income...
Yesterday, I responded to a question about whether a foreign (U.K.) pension plan had to be reported to the Treasury Department on the FBAR form. My answer was...
QUESTION: If a US person worked in the UK and has a UK pension over which they do not have signature authority and are not a trustee, do they have to report...
QUESTION: If I live in the US, and I hold a Forex account with an international broker, do I have to report the account, or is it OK just to pay the taxes on...
QUESTION: My client and I have toyed with the idea of forming a corporation in Panama, owned by a foundation to avoid having him and his partners pay tax on a...
QUESTION: I am looking for a legal way to protect my assets from potential future creditors. I and my wife are totally solvent, have good credit, and positive...
QUESTION: My client is the 50% shareholder and officer of a foreign corp living overseas. I'm filing the 5471 with his individual return for his other 100%...
QUESTION: I just discovered a proposed IRS revised definition of a foreign financial account. http://edocket.access.gpo.gov/2010/pdf/2010-4042.pdf It now...
I've been working on separate books about income tax reform, the inflation tax and the U.S. expatriation tax for a number of years now. A few months ago, it...
WHOOPS! My response to the following question totally missed the critical issue that the income recipient is an expatriate who has renounced his citizenship....
QUESTION: Assume that a US citizen renounces citizenship and is now a sole citizen in the Federation of St. Kitts & Nevis. That person has an IBC in Belize...
QUESTION: I recently opened a bank account overseas. As an American citizen that I am, what forms do the IRS and the Treasury Department want? I know both of...
QUESTION: I have a client that claims to have made an S-corp election for a foreign corporation (Belize) after having gotten an Employer ID for that entity....
QUESTION: I recently opened a bank account overseas. As an American citizen that I am, what forms do the IRS and the Treasury Department want? I know both of...
I received this comment from a subscribers and decided to share it with this group. (Vern) " I had a recent personal experience with a local foreign embassy. I...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal Sept. 15th - Form 1120 Due Date Wednesday September 15, 2010 All Day ...
QUESTION: Thank you for assisting me in ordering your Guide to Reporting Foreign Financial Accounts a couple of weeks ago. In general, I must say it was very...
COMMENT: Here is a question from an international tax professional about the accounting and reporting procedures for a foreign trust, which is not likely to be...
