The Net Investment Income Tax (NIIT) was introduced by the United States government in 2013 as a way to fund the Affordable Care Act. This tax imposes a 3.8% surtax on certain types of investment income earned by individuals, trusts, and estates. Although the NIIT was primarily designed to apply to US residents, it also … Read more
If you’re planning to start your own business in the UK, it’s important to understand your tax obligations. As a self-employed individual, you will be responsible for registering with HM Revenue and Customs (HMRC) and paying your own taxes. Here’s what you need to know about registering as self-employed for tax in the UK. Who … Read more
Federal and state taxes are a fundamental aspect of the American economy, and they play a crucial role in funding government programs and services that benefit the country’s citizens. Understanding how federal and state taxes work on earnings is essential to managing your finances and complying with the tax laws. In this blog post, we … Read more
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
What is an ITIN? An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) for individuals who are required to have a US taxpayer identification number but do not have one and are not eligible to obtain a Social Security Number (SSN). The IRS uses ITINs to … Read more
Making Tax Digital for Income Tax Self Assessment — Another Postponement and what it means for you What is Making Tax Digital (MTD)? Making Tax Digital (MTD) is a government initiative that has been ongoing for nearly a decade now, repeatedly delayed by setbacks, the biggest of which is the impact of Covid. The essential … Read more
Tax will impact your business’s cash flow, so start with a basic understanding of how to improve cash flow by being tax efficient.
Aspiring Entrepreneurs setting up a business. Expanding your business into the USA is a wonderful achievement for your business. It brings a whole new host of questions about your overseas tax liabilities, laws, regulations, insurances and compliance requirements. First, you must decide which business structure you wish to choose and register correctly with the Secretary … Read more
US Expats – Are You Claiming All Your Credits? Starting a family or being blessed with a new addition is always an event to celebrate. As life changing as it is, having a child brings with it a new adventure. A life event such as having a child can also have a big impact on … Read more
