US Tax Articles

Tax Implications of Opening a Foreign Bank Account

United States citizens, Permanent Residents and U.S. resident aliens who hold assets in foreign institutions have significant yearly reporting requirements that need to be adhered to. The Internal Revenue Service (IRS) and Financial Crimes and Enforcement Network (FCEN) has different reporting requirements for money and securities held in foreign banks [...]

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Do you need an ITIN?

What is an ITIN or Individual Taxpayer Identification Number? Individual Taxpayer Identification Number (“ITIN”) is a tax ID number issued by the Internal Revenue Service (“IRS”) to individuals who are obliged for a U.S. tax filing or reporting requirement under the Internal Revenue Code and are not eligible to obtain [...]

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6 Mistakes to Avoid When Setting Up Your Real Estate Entity

I’ve set up a number of entities in my career, and here are 6 pitfalls to avoid when setting up your real estate entity. Mistake #1: Not Educating Yourself About the Pros and Cons of Different Entities In many cases, setting up an LLC will do just fine for real [...]

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WHY US REAL ESTATE INVESTORS NEED A LLC?

If you are a real estate investor or thinking of becoming one, it is imperative that you understand the legal issues involved in order to protect your assets. One of the most important decisions you have to make regards the legal structuring of your real estate business — or what [...]

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