The United States stands as one of only two countries in the world (Eritrea being the other) that assesses personal income tax based on citizenship as well as residency. This distinctive tax system subjects US citizens to taxation on their global income and gains, irrespective of their place of residence. Consequently, managing tax affairs becomes […]

In Switzerland, Samichlaus, aka St. Nick, came to children this past night and brought them clementines and nuts. While we cannot transfer food through the internet, we have something almost as good – 2023 US year- end tax tips! This is something we have covered in the past, but like all good things, we have […]

The annual tax filing season opened on Monday this week, and we are delighted to summarize some important changes to the 2022 US tax year when compared to prior years. The most notable changes are: The first page of Form 1040 will look significantly different for the 2022 US tax year than prior years. There […]

The Inflation Reduction Act was signed into law on August 16, 2022. The tax changes in the law are a part of the “deficit reduction” provisions, Washington-speak for “tax increases”. The most significant tax increases are primarily aimed at the largest corporations. The bill will impose a new minimum tax on corporations with an average […]

The summer season is here (and so are some summer-time related puns to keep tax fun).  We have a treat for your beach reading pleasure; the second in a series of posts which we refer to as Everything you didn’t learn about taxes in school. 1.     Don’t ever get tide down by penalties and interest and file […]

We have some welcome news for US pensions (and other permitted arrangements) receiving dividends from Swiss companies. On June 7, 2021, the US announced new guidance applicable to pension and similar structures operating in the US and Switzerland.  In respect to a qualifying Swiss pension or pension-like structure, the treaty operates to exempt the US […]

In connection with the recent G-7 Summit, leaders of the G-7 nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) endorsed the principle of a global corporate minimum tax designed to ensure multinational corporations pay income tax of at least 15% in each country in which they operate. The new tax […]