The Foreign Account Tax Compliance Act (FATCA) becomes fully effective on July 1, 2014. The Internal Revenue Service (IRS) has announced a number of changes to the former Offshore Voluntary Disclosure Program (OVDP) as well as FATCA enforcement that impacts U.S. taxpayers with foreign assets. The major changes taxpayers should be aware of are on ... [Read more]
FATCA mandates that U.S. banks making payments to foreign banks that do not have a data sharing agreement with the U.S. are required to withhold 30% of the payment. The withholding requirement is, theoretically, designed to ensure compliance with U.S. taxes. A number of countries have signed on to FATCA (meaning the 30% withholding doesn’t ... [Read more]
Outlook Trust Funds recently announced the first mutual fund focused on the 3d Printing, additive manufacturing, and rapid prototyping industries. The fund will invest at least 80% in equity securities of U.S. and non-U.S. companies active in the 3d/additive manufacturing sector. What does this mean for the 3d Printing industry? There has been some tongue ... [Read more]
One of the first and most complex matters is to choose a form of incorporation. There are many options available and the sponsors of the potential business should consult with a professional on how to choose the best option. There are some variations on corporate form between the States, below are some of the basic ... [Read more]
Bitcoin is a relatively new form of exchange. The cryptocurrency (a digital currency based on cryptography) was created by a person using the nom de plume of Satoshi Nakamoto. Bitcoins carry an advantage over standard currency in that they are not subject to centralized control by a government financial authority and, when used properly, they ... [Read more]