For business owners, choosing the right virtual Chief Financial Officer (CFO) to improve their financial performance is one of the crucial tasks that requires the utmost attention. From aiding firms in exploring and finding new opportunities to boost productivity and enhancing efficiency at a lower cost than in-house CFOs, these virtual CFOs are truly the backbone of businesses across the globe. However, choosing the right remote CFO can be a pretty daunting task since there exist several outsourced CFOs in the market claiming to be the “ideal one” for your business. But by keeping the followi ..read more

With the growing competition in the business realm, gaining a competitive advantage requires firms to stand out from their competitors. This can be done by adopting measures that promote trust and build confidence in your clients. One such option for organizations is to go for SOC or System and Organization Controls. By securing essential data and promoting regulatory compliance, these audits are greatly transforming the way industries are running in the present era. Well, let us delve deeper and understand in detail what exactly a SOC audit is, its types, benefits, and how it aids firms in ga ..read more

As a business owner, you are responsible for effectively handling your finances in order to keep your company profitable and successful. A financial audit is one approach to accomplish this. A financial audit is an independent evaluation of your company’s financial statements and internal controls to ensure that they are accurate, complete, and compliant with accounting regulations. In this blog, we will explore the benefits of a financial audit for your company, discuss whether it needs one, and address the cost of a financial audit. Does Your US Business Need a Financial Audit? The answer to ..read more

If you are a non-resident planning to buy a house in the United States, it is paramount that you understand the key factors involved. There are many aspects to consider, from legal requirements to finance choices and market research. We will share valuable insights and highlight important considerations for non-residents planning to buy a house in the United States in this comprehensive guide. As forecasted by ING, non-residentials will be spending more on US construction than residentials. Image Source: think.ing.com Understanding the Legal Requirements for Non-Residents Buying a House in the ..read more

The United States is one of the few countries that taxes its citizens on their worldwide income, regardless of where they live. This can be an immense burden for US citizens living abroad, and it might be one of the reasons they decide to renounce their US citizenship. As mentioned in the California Business Journal, a majority of people who renounce their American citizenship are tech billionaires who want to avoid paying taxes. Renouncing US citizenship is a major decision, and it is crucial to consider all of the repercussions before proceeding. This article aims to provide a comprehensive ..read more

Expanding a business into a new market is an exciting endeavor, but it can also be challenging at the same time. The United States is a vast and complex market that poses unique challenges for businesses looking to expand. However, with proper planning and execution, businesses can successfully enter the US market and tap into its potential for growth. As mentioned in an article by Oberlo, the number of business applications filed in 2022 totaled 5.07 million compared to 2.58 million in 2012. Source: Oberlo In this article, we’ll explore some of the major challenges that businesses may face wh ..read more

Are you an American expat living abroad? If so, it’s important to make sure you are maximizing all the deductions and credits available to you on your US expat tax return. Proper tax planning and preparation can help you save a significant amount of money and ensure you are in compliance with all relevant tax laws. In this blog, we will provide some tips for maximizing deductions and credits on your US expat tax return, including seeking out an US expat tax consultation and taking advantage of the Foreign Earned Income Exclusion and Capital Gain Tax exclusion. Keep reading to learn more and ma ..read more

FATCA stands for Foreign Account Tax Compliance Act. As per this act, individuals having financial assets abroad are required to report those assets at the time of filing a federal tax return as per the FATCA filing requirement. Foreign financial institutions are required to report their US account holders. How it is reported for EXPATS? It is a straightforward process for expats and have no additional tax implications. This rule impels Americans with foreign registered assets to be declared on form 8938. It is applicable if the taxpayer as $200000 per person at the end of the year or $300,00 ..read more

Since 2020, the US government has awarded three sets of checks ranging from $600-$1,400 to US residents who meet specific qualifications. Americans residing overseas are entitled to get checks, and if you have eligible children, you might receive an additional $500 to $600. What happens when you realize you are eligible as an American US expat and wish to receive your Stimulus payment immediately? Below, we provide basic support and updates of how one US Expat can get their US Expat Taxes in order and obtain the stimulus check on an urgent basis. Basic details about the US Stimulus Payment Fi ..read more

If you are an American living abroad who is concerned about filing your US expat tax return by the 15th of October, you may rest easy. You may qualify for a tax filing deadline extension until December 15! Remember that this additional extension is only available to those who were already granted an extension until October 15th. Essential Tax Filing Obligation Details Before we can explain how to file for a US expat tax extension by December 15, we must review the regular US expat tax deadlines and extension dates. As an American or holder of a Green Card living overseas, you are required to ..read more