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Annual tax returns. How are you filing them? Do you purchase tax preparation software, use filing agency services, or use an accounting firm?

If your Japanese spouse is receiving the pension payment from Japan, you may be able to receive the survivor’s benefits when your spouse passes away. The essential function of the system is very similar to the U.S. social security’s survivor’s benefits. A surviving spouse can receive a pension in the U.S. or Japan. There is no discrimination based on the nationalities of the spouse. Here is the writing by the Japan Pension Service:

I will explain three indispensable pension knowledge of Japan and the United States that I would like you to know when obtaining U.S. citizenship from permanent residency status. In the U.S., not knowing certain critical information can quickly put you in a very disadvantageous position.

Supporting cross-border life   A test called the Net Worth Test for exit taxes determines whether a global asset in your name exceeds $2 million or not as of the day before the permanent residence abandonment. Those with defined benefit plans or annuities must...

Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit: Amount has increased for certain taxpayers Is fully refundable (meaning you can...

By Andrea Krueger, Principal, CDH, P.C. Are you worried about the long-term impacts of the current pandemic on your assets? Many companies are struggling to assess the various uncertainties in our current economic climate. According to the Wall Street Journal, the...