Real estate investment trust (REIT) taxation Real estate investment trusts are companies that hold and manage earning real estate. They replace direct investments and allow even investors with limited personal capital to enjoy yields from earning real estate. In order to be considered an REIT, a company must meet...
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Interest taxation In most of the cases , Interest income taxation is accumulated for the taxpayer taxable income and taxed under regular negligible tax rates. Some bonds are exempt from tax according to section 103 of the American tax code. The best example is local authority and state bonds. For...
Additional Child Tax Credit – Updates! Beginning in fiscal year 2016, there has been a crucial change to the guidelines for additional child tax credit. Children for which the credit is request who do not have either a Social Security Number (SSN) or an ITIN prior to the original filing...
US citizen? Own shares in companies outside the United States? You must report it to the IRS ! US tax laws dictate that any American entity (individual, partnership, company, fund, etc.) that is either the management, shareholder, and/or forms a portion of ownership in a foreign company, must submit an annual...
Citizenship transferal from a US citizen to their offspring There are several popular options for citizenship transferal from a US citizen to their offspring. First option – natural born citizens. Eligible if the parent has resided in the US for at least five years, aged 14 or older for...
American passport holder, but did not pay your taxes? Prepare to have your passport revoked The IRS has begun revoking American passports in response to unpaid taxes. The IRS has recently announced it will begin notifying the Department of State of delinquent tax debt, leading to the revoking of...
The Obama Care The official name of the “ObamaCare” is the Affordable Care Act (ACA), which signed into law to reform the health care industry by President Barack Obama on March 23, 2010. ObamaCare’s main goal is giving more Americans access to affordable, quality health insurance and to reduce the growth...
The net investment income tax is just one example of the complicated nature of the U.S. tax laws. The NIIT was a surtax that was created as part of the Patient Protection and Affordable Care Act, but because of its origins within Obamacare, the NIIT will likely be among...
If you are receiving rents from certain assets that located outside the territory of the state of Israel, or having other passive income sourced outside Israel, and you are Israel residents, you might need to pay for that income social security in Israel. In our reality, a lot of...
The Israeli tax Authorities signed on another tax agreement with the Swiss Finance Ministry. The purpose of the agreement is to pass information about financial accounts from one to another. It’s another example of the significant changes that the world is up to feel in 2017. The “Game Rules”...