Blog

01
Nov 2019
  • BY: italiancpafirms
  • TAG: Documents, Business, tax
  • 01 COMMENT

US Tax Reform Plan: the biggest Tax Cut of all time

The long-awaited tax reform was quietly approved by the House and then signed by the US President on 22 December 2017. A nice end-of-year gift for many SMEs and many investors. A gift that has not been seen since Reagan’s presidency, in terms of tax reduction. It is, in fact, the most drastic change to US tax code of the last 30 years! Corporations and upper classes will obviously benefit the most from the reform, but the middle class (although to a lesser extent) will obtain... READ MORE
01
Nov 2019
  • BY: italiancpafirms
  • TAG: Documents, Business, tax
  • 01 COMMENT

Income Tax Return for non-resident US citizens

A big part of American citizens residing abroad is convinced that filing their income tax return in the US is not necessary. Unfortunately, this is not the case, most of the times. According to the US taxation system, individuals must declare their annual incomes regardless of where they live and where such incomes are generated. According to the Internal Revenue Service (IRS), non-resident American citizens are often required to file their Tax Return just as US... READ MORE
31
Oct 2019
  • BY: italiancpafirms
  • TAG: Documents, Business, tax
  • 01 COMMENT

Foreign revenues, how to tax them

We work with many clients living abroad for most of the year, and one of the questions we are often asked is how to consider the income produced abroad and then transferred to Italy. Many of them wonder if such income can be declared only in the country where it was generated, or should it also be taxed in Italy? First of all, it is useful to define when a person is a resident or not resident in the State. For income tax purposes, individuals are... READ MORE

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