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Are There Any Tax Implications When You Move From Employee to Partner?

By: Kevin E. Thorn Tax Planning Views: 628 | Comments: 0 | Votes: 0

Kevin E. Thorn

Many employees spend the bulk of their working lives trying to become a partner of the business to which they’ve devoted so much of their time and effort. Employees are typically rewarded for their hard work and dedication, while partnerships offer the chance to retain a highly-prized asset. An employee typically gets a W-2 and files an annual tax return. More

Tax Errors: They Could Cost You in the Long Run

By: Kevin E. Thorn Legal Views: 2160 | Comments: 0 | Votes: 2

Kevin E. Thorn

Making mistakes when filing your taxes could come at a big cost.  You could end up paying more in taxes than you need to if you are taxed on income that you should not have paid taxes on. Alternatively, if you underreport your income or fail to file your taxes, you could find yourself faced with penalties and late charges. The good news is: Tax errors can be avoided. More

Understanding The Foreign Earned Income Tax Exclusion While Living Abroad

By: Kevin E. Thorn Legal Views: 2365 | Comments: 0 | Votes: 3

Kevin E. Thorn

Living and working abroad may be appealing to many people and even has advantages from a tax standpoint. In fact, familarizing yourself with the foreign earned income tax exclusion (FEIE) can be helpful when living in another country. FEIE BasicsIn general, US citizens are subject to federal income tax on their worldwide income. More