Thinking of Buying As a US taxpayer, if you own a property abroad and pay the principal on your foreign mortgage, you may still be subject to taxation on any gains earned from the property. This can include rental income or gains from the sale of the property. The tax laws and regulations for foreign … Read more
As part of the American Rescue Plan Act signed into law in March 2021. the U.S. Government pledged to increase child tax credits for eligible taxpayers and make this a refundable credits. The biggest change to this credit is that it will begin being deposited into Taxpayers accounts from the 1st of July, 2021. Recently … Read more
IRS Guidance on Unemployment Exclusion The American Rescue Plan Act was signed into law on on March 11, 2021. With it brought many extensions to financial support for taxpayers and businesses. From that date there have been a few changes and a bit more clarity on some of the exclusions that can be taken by … Read more
The 2020 filing season was a challenge with the IRS closing down and sending workers home due to the COVID-19 pandemic. Tax season delaine was extended and many people rushed to get their taxes filed on time so they would receive stimulus payment lifelines dished out by the U.S. Government. One year later and we … Read more