FBAR: For Those With Foreign Accounts
Any U.S. person with a financial interest in or authority over foreign financial accounts may be required to file a Report of Foreign Bank and Financial Accounts (FBAR). An FBAR is …
Feeling Charitable? Ensure You Can Substantiate Your Gifts
As the year ends, supporting your favorite charities is often on your mind. However, if you itemize deductions on your tax return, proper documentation of your charitable contributions is essential …
4 Ways to Ensure Corporate-Owner Compensation is “Reasonable”
If you own a C corporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries …
The Flexibility of a Self-Directed IRA
Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they’re invested in, they limit your investment choices. For more flexibility in investment choices (but also …
Don’t Get Blown Away by a Windfall
Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get carried away by a windfall and end up …