by Marina Hernandez | Nov 25, 2020 | Tax Planning
Since we are approaching December, I thought it would be a good time to discuss a few 2020 year-end tax planning tips. This is a challenging year for tax planning because….surprise!…..in unsurprising 2020 fashion, we still have a lot of uncertainty in the...
by Marina Hernandez | Nov 18, 2020 | Tax Planning
This week, we are going to talk about reporting requirements for US tax persons who receive a foreign gift or inheritance from overseas (Form 3520). Last week, an observing tax pro colleague noticed that the IRS had quietly made a change on their website, impacting...
by Marina Hernandez | Nov 11, 2020 | Swiss resident with a US trust, Tax Planning
Last week we discussed trusts, what they are used for and that Swiss resident US citizens usually need a Swiss tax ruling to determine how their US trust will be taxed in Switzerland. We further explained that Switzerland will typically classify US trusts as revocable...
by Marina Hernandez | Nov 4, 2020 | Swiss resident with a US trust, Tax Planning
We are taking a break from The Ultimate Tax Guide this week and next week to answer, in two parts, a question I received from a reader. We’ll get back to our 37 Tax Insights in a couple of weeks when we will start discussing foreign tax credits. The issue we will be...
by Marina Hernandez | Oct 28, 2020 | FBAR & FATCA, Tax Planning
This is the third installment of our series covering the differences between FBAR and FATCA reporting for US taxpayers. FBAR and FATCA FAQs #11-20 11. Can I file a joint FBAR with my spouse? Yes. But there are conditions. Married couples can file a joint FBAR to...
by Marina Hernandez | Oct 21, 2020 | FBAR & FATCA, Tax Planning
This week we´re going to continue the discussion of the differences between FBAR and FATCA reporting for US taxpayers. As I was putting together the resources to write this week’s post of the Blog, I came across two examples of mistakes related to one of the topics we...
