News & Blogs
CDH News
The Hidden Costs in Your Supply Chain: Financial Strategies to Optimize Profitability
Author | Jerry Fujita For manufacturers and distributors, the supply chain is the lifeline of business operations. However, hidden costs often erode profitability without clear visibility into where inefficiencies lie. At CDH, we help manufacturing and...
From Excel to Efficiency: Transforming Hotel Back Offices with Cloud-Based Accounting
Author | Zubair Adil Many hotels still rely on spreadsheets or outdated desktop software to manage financials—a method that often becomes a liability as operations grow more complex. With the increasing need for real-time insights, operational efficiency, and...
Accounting for Leases: Accounting Standards Codification (“ASC”) 842
Although the lease standards have been delayed multiple times, the new effective date is coming up quick. Nonpublic entities should apply the new standard for fiscal years beginning after December 15, 2021, and interim periods within fiscal years...
How do the new change of the Japanese inheritance and gift tax help you?
By Koh Fujimoto Support cross-border life Do you plan to move to Japan for your retirement with your Japanese spouse? There are, in fact, many couples who want to move to Japan. Many think of high-quality medical service and low-cost medical and long-term care...
Is Japan a Good Country From Tax Rates Standpoint to Retire with Your Japanese Spouse?
By Koh Fujimoto Support cross-border life 1, Income Tax Rates: I made this chart using the exchange rate of $1 equals 100 JPY. This is the tax rate table for the Japanese income tax rates. There is another important tax that you cannot forget besides the income...
Protecting Company Profitability in Uncertain Economic Times
The pandemic has put extreme pressures on many businesses, and protecting profitability is of vital concern. The jury is still out on long-term inflation, but for now, we must deal with escalating material costs and shortages as well. Lumber, steel,...
Understanding Capital Financing Leases
Accounting for Leases: Accounting Standards Codification (“ASC”) 842: Overview of Capital (Financing) Leases under ASC 842 Main changes from prior lease standard Under ASC 842, capital leases will now be called “financing” leases. Furthermore, the criterion for...
How does the change of nationality help you avoid getting taxed the worldwide assets under the Japanese inheritance tax law?
By Koh Fujimoto, Support cross-border life In this article, I demonstrate how giving up Japanese citizenship affects taxation under the Japanese inheritance laws. In short, under the circumstance that I describe, the Japanese tax authority only can tax you your assets...
Illinois Issues Back to Business Grant
Further COVID-19 Relief for Businesses Illinois Governor JB Pritzker released an overall economic recovery strategy, including a $250 million Back to Business (B2B) grant initiative. The recovery plan aims to assist small businesses that experienced significant...
Receiving Japan’s National Pension should not trigger the Windfall Elimination Provision (WEP)
Support cross-border life This chart is on the website of the Japan Pension Service. [i] In this article, I want t to explain why the WEP provision of the Social Security system should not reduce your U. S. Social Security benefits simply because you are receiving the...
Help Your Japanese Spouse Retire in Japan by Using iDeCo
Support cross-border life From May 2022, if your Japanese spouse participates in Japan’s National Pension, he or she becomes eligible to participate in iDeCo. [i] (I am going to use “she”.) iDeCo’s name came from an Individual-type Defined Contribution pension plan....
IRS Whistleblower Rule Applies to FBAR Penalty
Support cross-border life If IRS finds that you willfully did not report your foreign financial accounts in FBAR, under the 31 U.S.C. 532(a)(5)(c), the maximum penalty you face is higher of $129,210 or 50% of the amount in 2021. [i] This is a very serious penalty...
US Citizens Owning a Japanese Company – US Tax Compliance Risks
By Koh Fujimoto Support cross-border life If you are a US citizen who owns a Japanese company, you are subject to the very complex U.S. tax rules. Without going through the details of the rules, I focus on the danger of not consulting with appropriated tax...
Common Issues when Opening Bank Accounts in Japan for U.S. Citizens and Green Card Holders
By Koh Fujimoto Support cross-border life When U.S. green card holders and U.S. citizens open bank accounts in Japan, they face increasing difficulties. In this article, I describe the types of issues, reasoning why they face such issues, and how to cope with them....
Foreign Pension and the U.S. Exit Tax
By Koh Fujimoto Support cross-border life In this article, I will discuss how the IRS will treat your foreign defined benefit plan under its exit tax regulations. I will also discuss briefly the treatment of a defined contribution plan. This article is helpful if you...
Pier & Associates Joins Forces with CDH
ITASCA, IL (January 1, 2022) — CDH, P.C. (CDH), a leading international accounting and advisory firm, has united with Pier & Associates, Ltd. (Pier), an Illinois-based full-service accounting firm. Strategic growth is a primary initiative for both CDH and Pier....
FBAR and Japanese Financial Accounts
By Koh Fujimoto Cross Border Individual Tax Practice Per the Bank Secrecy Act, you must report certain foreign financial accounts every year by filing a Report of Foreign Bank and Financial Accounts (FBAR) on Form 114. There are numerous unique financial accounts in...
Three Things You Must Do Before Returning to Japan Permanently
Supports Cross Border LifeStyle This time, I would like to introduce three points that I would like you to do before returning to Japan permanently or that you should seriously consider implementing. Changing the authentication system U.S. financial institutions...
Tax Difference between a U.S. citizen and a Greencard holder
Supports Cross Border LifeStyle What are the tax differences between a U.S. citizen and a green card holder? This question is one of the frequently asked questions. I want to shed some light on this article's seemingly simple but complex and profound question. Income...
Major Pitfall of US-Japan Inheritance-appreciated assets
Supports Cross Border LifeStyle When a U.S. resident leaves appreciated assets to his heir, the heir will not pay taxes in most cases. A U.S. resident can take advantage of his unified credit ($12.06 million for 2022), and the heir can take advantage of the step-up...
Join Our Newsletter
