Blog Posts

The most common issues that make dual-status citizens living in Israel owe U.S. tax   Our clients are always in a rush to file their U.S. taxes and get a…

As we approach the close of 2019, I am reminded of the classic scene of a very old man that represents the current year being followed by a baby that…

On December 20, 2019, President Trump signed the Consolidated Appropriations Act, 2020 into law. While this is essentially a government-spending bill for the year 2020, among the 700+ pages of…

It’s hard to believe that 2020 is right around the corner. Watch the video below to learn about Philip’s important end-of-year tax tips.

It’s been less than 2 years since the Trump Tax Reform was approved by Congress and overhauled the U.S. tax system. As we come to the end of the first…

Until recently if someone asked me, “Have you ever known someone named Marwan?” I would have answered in the affirmative. But as of last month, I would have to answer…

In Judaism, there are several important fast days throughout the year. Normally, a question like the above might come up around Yom Kippur, the holiest day of the year, and…

That was the length of the men’s final tennis match at Wimbledon between Roger Federer and Novak Djokovic this year. There are certain sporting events that I look forward to…

The other night I attended a lovely wedding on the beach in Netanya. After the Huppah the guests were led along a candle lit path to a sumptuous buffet and…

Many non-U.S. citizens enjoy investing in the U.S capital and real estate markets. They see the U.S. economy as a target for opportunity and significant gain. However, careful planning is…

Updates from the new final and proposed regulations and what they mean for individual taxpayers: On June 14th the IRS released much anticipated final regulations on the general rules of…

The danger of the new Global Intangible Low Taxed Income (GILTI) rules has been greatly reduced with the new proposed regulations recently released. These regulations allow individuals filing under Sec….

In the famous Disney classic, The Lion King, a powerful message is delivered about tradition being passed from generation to generation. The father, Mufasa, transmits to his son Simba, the…

Following Apple’s recent March announcements conference, the biggest buzz was about their Apple Card.  You will have to decide independently if you want to give Apple even more power over…

THE NEW YORK TIMES:   It was reported recently that George Mendonsa, the sailor who was in the iconic photo kissing a nurse, Greta Zimmer Friedman, in Times Square on…

The IRS has just published proposed regulations on internal revenue code Sec. 250 and how it relates to Global Intangible Low Taxed Income (GILTI).  For those unaware, the new GILTI…

…. Jolting Joe has left and gone away. The words above come from one of the most well-known songs of modern times.  These lyrics came to mind during a 2…

 Contributed by our trusted colleagues at: Introduction Affluent individuals with citizenship and assets in multiple countries often have complex planning needs and must frequently consider the jurisdiction where their assets…

Israeli law limiting cash use for purchases or payment of wages has gone into effect in January 2019 and violators could face up to 3 years in jail. Under the…

  In my previous blog I discussed potential income tax issues such as Federal tax, state tax and PFIC tax that arise upon becoming a U.S. resident. In this blog I…

As we approach the end of 2018, I am reminded of the often quoted phrase “Out with the old and in with the new”. This seems to suggest that whatever…

In my previous blog post I discussed the issue of residency that must be addressed upon relocation from Israel to the U.S. Depending on the number of days someone spends…

As the year-end approaches, we’d like to take this opportunity to remind you about a number of important tax issues that may be relevant to you: PFIC alert– Please carefully…

As Israel continues to grow as a country, its knowledge in both the Hi-Tech and Medical fields have made its workers some of the most sought after in the world….

Earlier this year the U.S. Supreme Court handed down its anticipated decision in South Dakota v. Wayfair. The case challenged South Dakota’s application of its sales tax to internet retailers who…

As the new GILTI laws become part of our business lives, the IRS issued some guidance in September. In light of this new guidance and with the end of the…

Determining one’s tax residency is probably the most important issue for people moving to and from Israel. This recent Israeli Supreme Court case, as interpreted below by our colleague attorney…

Up until recently when I heard the term “channeling” I was most certain that the term referred to building the Suez or Panama Canal or tunneling out of a prisoner…

In my previous blog post, I explored the three classic ways for non-US taxpayers to structure their investments in U.S. real estate, and the main advantages and disadvantages of each….

Investing in U.S. real estate has become a very attractive investment alternative for Israelis seeking higher returns than those obtained by traditional bank deposits. There are no exact figures on…

American citizens might be denied new passports if they fail to settle their debts to the U.S. Internal Revenue Service (IRS). An IRS official has told the Wall Street Journal…

The U.S. Supreme Court has issued the long-awaited ruling in South Dakota vs. Wayfair , which eliminates the physical presence requirement for sales tax. Up until now, based on the Supreme…

Last month, famed American musician Don McLean performed in Israel. While I didn’t attend his concert, I read that he concluded his show with one of the most famous songs…

‘By failing to prepare, you are preparing to fail.’ ― Benjamin Franklin The Trump Reform (Tax Cuts & Jobs Act) made a number of changes for U.S. citizens living overseas and how…

When I was young my friends and I used to watch a television program called The Time Tunnel. Recently my wife has become a fan of a new show called…

Great interest in cryptocurrencies has alerted the US Internal Revenue Service (IRS) which has decided to crack down on Bitcoin and other virtual currencies. Bitcoin broker Coinbase has already started…

The newly approved US tax reform includes many changes that impact each American taxpayer regardless of where he or she lives. One such change is that those who itemize deductions…

Since 1986, U.S. citizens living in Israel have been penalized in the form of higher U.S. taxes if they choose to invest some of their savings in Israeli or non-U.S….

The IRS recently published a news release in Q&A format on the Section 965 Repatriation Tax which was introduced as part of the new federal tax reform. In short, this…

On March 13th the IRS announced the end of the Offshore Voluntary Disclosure Program (OVDP), which enabled U.S. residents living abroad to avoid criminal penalties and securely fixed terms when…

I have been thinking a lot about survival lately, ever since I attended the conclusion of my youngest daughter’s “Survival Week” in the Ramon Crater as part of her pre-army…

Bitcoin and other cryptocurrencies have been talked about over the past couple of years, however, with a recent explosion in value, people are becoming more curious. We have some clients…

One of the changes included in the Trump tax reform, that will affect many U.S. taxpayers living abroad, including in Israel, is the amendment of Section 965, otherwise known as…

Whether you are an entrepreneur looking to open an American company, investor in US real estate, or the owner of a virtual store on Amazon, forming a Limited Liability Company…

At the end of 2017, online retailers accounted for more than nine percent of all retail sales in the US. Black Friday and Cyber Monday alone generated above $12 billion…

Israel’s medical device scene is flourishing these days. A report published last year by the IATI organization indicates that in 2016 alone, local medical device companies raised a total of…

Over the past three years, the number of US citizens living abroad who have expatriated has increased substantially. Statistics provided by the Treasury Department indicate that in 2016 alone a…

An average family with five kids may be entitled to receive an additional $2,000 a year, or even more. The new US tax-reform legislation includes some changes which promise to…

It has recently been reported that the United States has disclosed to the Israel Income Tax Authority the names of 40,000 Israelis who hold bank accounts in the US. This…

Judging by the headlines of Hebrew newspapers the day following the US Senate’s approval of the Trump administration’s tax reform, one could assume that Israeli entrepreneurs would now leave the…

The end of the year is a perfect time to assess our financial activities and start planning our next moves. It is also the right time to examine tax strategies…

Very often when I meet tourists or new immigrants to Israel, one of their first comments goes something like this: “Today, I walked in the exact footsteps of Avraham Avinu…

It seems to me that two expressions came into popular western culture during the 80’s, “No pain, No gain” probably thanks to Jane Fonda and her exercise video tapes and…

In partnership with Nefesh B’Nefesh, we present the following workshop : As the saying goes, “all good things come to an end”, and so for the first group of people…

Most of my generation spent our childhoods in the back seat of an automobile, being driven around by parents, grandparents and older siblings. At some point, as you become a preteen, you get the right to sit up front and begin to see up close the mechanics of driving.

Despite all the hype this spring, I, a die-hard South Sider and Chicago White Sox fan, had no interest in the Cubs back on opening day. In fact, I could…

Whether or not you were aware of Brexit before the UK referendum, it seems to have become one of the most popular topics of conversation these past few days. Today…

In these days of social media and paparazzi, celebrity sightings are few and far between, even though the public has an insatiable thirst to catch a glimpse of a famous…

One thing in common between a bet and a debt is that someone has to pay up and the other side gets paid. Generally, bets are paid after the results…

Shopping is not my favorite activity, but when I do shop, it is generally during one of my business trips to the U.S. I have established my own spectrum of…

One of my favorite Beatles songs is called “ In my Life” https://youtu.be/UKQpRgxyyqo. It speaks of people and places we knew and loved, who are no longer with us or…

I have taken cab rides all over Israel and in as exotic places as Cairo, Egypt, LiJiang​,​ China and Tijuana, Mexico. I had not thought of my Mexican cab ride in…

I just got off the phone with my 89 year old father-in-law as​ he was rushing off to work (yes, he’s still working daily ​as a psychologist)​.​ He​ wanted to let me know about an article…

What is the connection between Houston and Kathmandu , you may ask ? I spent a few days this week visiting my sister, a long time resident of Houston, and…

One year ago today, my late father fell and broke his hip. That fall ultimately led to his demise 3 months later at the age of 90 1/2. My father was…

When I was a young boy growing up in Chicago, going to the East Side meant you ended up in Lake Michigan. In fact, until I was in my teens, I had never…

When I was a kid,​ my late grandmother used to watch a soap opera ​called “The ​Days​ of Our Lives”. The show would open with some dramatic music and a narrator…

Two main events marked the end of December:  1) Congress and The Obama Administration were battling over the future of the “Bush Tax Cuts” and 2) I was following the…

Many of you may have missed the passing of Hal David a few weeks ago, at the age of 91. Mr. David wrote some of the most famous songs that…