Self-Employment Income vs. Salaried Income

The US and Israel do not have a treaty for self-employment income. That means that your net self-employment income is subject to 15% self-employment tax. This payment is transferred to the Social Security Administration for [...]

IRS Identification Verification Letter

FBAR Reporting Requirements The IRS selects returns at random for ID verification. This does not indicate that your filed tax return is incorrect. The verification can still be done even if 45 days or more [...]

Inheritances & Gifts

FBAR Reporting Requirements StatusAmountReportingUS citizen gives a gift Up to $17,000Above $17,000No reporting requirementThe giver must reportUS citizen receives a gift from a NON-US citizenUp to $100,000Above $100,000No reporting requirementThe receiver must reportUS citizen gives [...]

Options

Options Generally, there are 2 types of options: Incentive Stock Options (ISO) - granted only to employeesDate of Grant – no tax to the option holder.Date of Exercise – no ordinary tax, however, the option [...]

RSU’s

RSU's A restricted stock unit (RSU) is a form of compensation issued by an employer to an employee in the form of company shares. RSU’s are issued to an employee through a vesting plan and [...]

ITIN Renewal 

ITIN Renewal Before renewing your ITIN please check with our office to confirm if it is still necessary to report your ITIN. Please click on the following link to find a Certified Acceptance Agent in [...]

ITIN Validity

ITIN Validity An ITIN is valid for a period of 5 years. The ITIN holder will usually receive a letter of notification from the IRS of the impending expiration. However, there are cases where a [...]

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