U.S. REPORTING REQUIREMENTS FOR FOREIGN ACCOUNTS
With the continued globalization of the economy, more people within the United States have foreign financial accounts. While there are many legitimate reasons to own foreign financial accounts, there are also responsibilities that go along with owning such accounts. Foreign account owners must remember that they may have to report their accounts to the government, even if the accounts do not generate any taxable income.
BUSINESS VALUATION CONCEPTS
Business valuation is an important, yet complex process that is frequently employed in a variety of business contexts. It is generally necessary to ascertain the value of a business when: selling to a third party, gifting interests to related parties, obtaining business financing, establishing a value for estate tax purposes, or establishing a value for purpose of a buy-sell agreement.
