July 2020

Ultimate Guide to Singapore CPF for US Taxpayers and US Expats

Unfortunately, there is content on the internet about CPF that may be misleading.  So much so that it is hard for US exposed taxpayers to know what to trust.  As one of the few tax firms with “boots on the ground” in Singapore, we feel confident in our ability to deal with those exposed to […]

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Rental Activity Loss Rules for Real Estate 

Link to IRS website – https://www.irs.gov/publications/p925#en_US_2019_publink1000104581 Tax Adviser –https://www.thetaxadviser.com/issues/2017/mar/navigating-real-estate-professional-rules.html Summary Passive Activity Losses are not allowed – default since the 1980s Active Participation – $25,000 rental loss deduction. As long as a taxpayer has more than a 10% ownership interest in the property and participates in management decisions in a bona fide sense, she is considered to actively

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Foreign Pensions of US Expats and Inbound Foreign Nationals: IRS Simplifies Reporting Rules For Certain Foreign Trusts

U.S. citizens and residents are generally required to file IRS Form 3520 to report their ownership of, or transactions with, foreign trusts. The potential penalty for noncompliance is the greater of US $10,000, 35% of the amount contributed to, or distributed from, the trust, or 5% of the gross value of the portion of the

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