Here’s an easy-to-understand example. Gambling is basically illegal (other thangovernment-run lottery scams, of course) in my home state of Virginia. So they can arrest me (or maybeeven shoot me) if I gamble in the Old Dominion. I think that’s bad policy, but it would be far wors...
Also, the “related party” rules can apply if the foreign division receives “substantial assistance” from the US parent. To avoid this part of the test, the foreign division should be operating independently such that the work, as well as the mind and management of the business, is perfor...
treated from the current IRS perspective as a unique sale of property on its own. Note to self – if an exchange will accept USD for transaction fees, pay it with that and just add the fees in as part of the basis of the acquired coin. That would also save a lot of cost on these...
Unlike with an Ltd company, there are no rules on how you have to keep your records– you can keep digital records, have them as part of your accounting software or even written on paper – as long as your records are accurate, complete and legible, that’s fine! If you’re registered...
– Though the interest earned on these bonds is tax-free, any capital gain from sale in the secondary market is taxable. If you sell your Bond for a price that is more than the cost then you would have to consider this as a capital gain. Short-term capital gains from sale of tax-...
The sections below discuss possible reporting regimes and changes to the current AEOI rules that would enhance tax transparency. This is a high-level discussion of the general features of such possible measures. Many of these measures were proposed by the Tax Justice Network (Knobel and Meinzer ...