Taxes
Need to learn about U.S. taxes? We’ve got everything you need – all in one location.
Latest Articles
How to Prepare IRS Form 8825 for Rental Real Estate Income & Expense
A partnership or S corporation tax return may include Form 8825 to report rental income and expenses connected with rental real estate properties.
How to Complete IRS Form 8594 for an Asset Acquisition
The sale of business assets must generally be disclosed on a Form 8594 by both the buyer and the seller. This article and video tutorial cover a sample Form 8594.
US Estate Tax Issues for a Non-US Person with US Brokerage Account
The U.S. estate tax is imposed on individuals that have a certain net worth when they pass away. Nonresidents can be subject to this U.S. estate tax on any U.S. situs assets.
Did You Leave the USA? Update Form W-9 to Form W-8BEN…
If a non-U.S. citizen is temporarily living and working inside the USA, they are generally considered a U.S. tax resident. When the person leaves the USA, they revert back to being a nonresident for federal tax purposes.
Does a US Bank Account Make You Liable for US Income Taxes?
Many nonresidents of the United States often open bank accounts with U.S. based financial institutions. A common question and concern is what impact, if any, does that have on the individual's US tax obligations. This article covers the basics of nonresident taxation and whether US bank accounts create any tax liability.
Can a US Company Hire Non-US Persons to Work Remotely?
U.S. companies often hire employees and independent contracts that are not based inside the U.S. These remote workers may have certain U.S. tax obligations.
What Is the US Substantial Presence Test?
Nonresidents of the USA may become a U.S. tax resident if they are physically present in the U.S. for a certain number of days during the tax year. This article discusses the substantial presence test and what it means for non-U.S. persons.
Do I Need to File Form 1040-NR as a Nonresident?
A nonresident non-citizen of the USA may be required to file a Form 1040-NR if they have U.S. source income. This article and video discuss those potential filing obligations.
Top 5 Reasons to Avoid an S Corporation
For many business owners, the S corporation may not be the best choice for entity selection. This article and video discuss the top 5 reasons to avoid the S corporation structure.
What Expenses Can You Deduct with Your LLC?
Having an LLC doesn't mean you can deduct everything as an expense. So, what are the rules?
How to Pay Yourself From a Single Member LLC?
If a business owner is the sole owner of a single member LLC, there are several ways the owner can be compensated. This article and video tutorial cover those options.
What If I Did Not Receive a Form 1099?
The Form 1099 is filed by businesses to report certain types of income paid to taxpayers. If a taxpayer did not receive a Form 1099 when they were supposed to, they have a few options.
YouTube AdSense Money is Now Royalty Income and Could be Subject to Withholding Taxes
Content creators on YouTube and Twitch are compensated for running advertisements on their content. YouTube payouts are now characterized as royalty income rather than nonemployee compensation. This article discusses those changes.
Do I Need IRS Form 4506 or Form 4506-T
Taxpayers are eligible to file requests to obtain tax transcripts and other account information that is on file with the IRS. This article discusses the Form 4506 and 4506-T.
How to Avoid Taxes with a Qualified Opportunity Fund (QOF) Investment
Taxpayers can defer or completely eliminate capital gains taxes by investing in qualified opportunity funds (QOF). This article and video discuss those tax benefits.