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Foreign Bank Account Reporting under the Bank Secrecy Act (FBARs)

Houston Tax Attorney

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Foreign Bank Account Reporting under the Bank Secrecy Act (FBARs)

If you are a US citizen or tax resident, you may have a foreign bank account reporting obligation. There are individuals who don’t report their foreign financial accounts to evade taxes, but that is an exception and not the norm. For the vast majority of those who fail to report, the reason is that they were simply unaware of their reporting requirements. Read more

Sale of a Principal Residence with Nonresidential Use

Houston Tax Attorney

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Sale of a Principal Residence with Nonresidential Use

You want to sell your primary residence, but you rent part of it and don’t know how that affects your taxes. Or you’ve converted your residence to rental property or vice versa. How will you be taxed on the sale of the property? Here are various situations you may find yourself in. Read more