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Tag: Tax

06 Jan
Taking the most beneficial option under IRS regulations isn’t tax evasion. It’s using the rules to minimize your taxes burden.

Panama’s Recently Revoked Taxation Law

Last week, while we were all recovering from Christmas and preparing for New Year’s, the guy in charge of the tax department in Panama got an idea. “I know how to bring in more tax revenue,” this guy seems to have said to himself one morning. “I’ll change the country’s approach to taxation!” And in […]

28 Nov
Declaring Property Overseas To The IRS

Declaring Property Overseas To The IRS

An important question came up during the Offshore Summit I hosted in Panama City last week. The question was to do with if and how Americans must report non-U.S. real estate holdings to the IRS. Specifically, this is the question: Must an American report foreign real estate he owns on the new Form 8938?