News and postings related to taxes in the U.S.
Signed into law in early July, the One, Big Beautiful Bill Act (OBBBA) introduces significant changes to tax law— impacting high-net-worth individuals (HNWIs). From new rules on global income tax (GILTI) to expanded opportunities for Qualified Small Business Stock (QSBS) investments, and much more, understanding and planning for these changes is essential.
Yale’s Budget Lab (TBL) estimated the effects of all US tariffs and foreign retaliation implemented in 2025 through September 3 under two scenarios.
The One Big Beautiful Bill Act (OBBBA) permanently extends key provisions of the 2017 Tax Cuts and Jobs Act, including the SALT deduction cap. From 2025 to 2029, the cap increases to $40,000, but phases down for households earning over $500,000—reverting to the original $10,000 cap for those above $600,000.
Younger, affluent investors are increasingly turning to alternative investments, and may overlook the complex tax consequences that arise from these investments, including K-1 and pass-through income, which can lead to tax and estate planning headaches.
When one thinks of tax havens, Bermuda, the Cayman Islands, and Switzerland will often come to mind. These countries are some of the most well-known examples of tax havens—countries or independent areas where taxes are levied at zero or a very low rate. But are recent proposals to lower taxes and decrease transparency turning the United States into the next global tax haven?
2025 was set up to be a significant year for global tax updates—most notably the continued implementation of Pillar Two, the global tax agreement designed by the OECD. And in December, the list of countries that have introduced Pillar Two rules, or that have committed to doing so, grew…
The Tax Cuts and Jobs Act of 2017 introduced significant tax cuts during President Donald Trump’s first term. However, many provisions are set to expire at the end of 2025, which could lead to a “tax cliff” for individuals, families and businesses.
Foreign trusts, foreign ownership. The rules governing the legal structure of trusts and their associated obligations are complex, and some of these rules aren’t fully defined in the tax law…
It’s been a busy year for global tax issues, between the Global Minimum Tax, worldwide calls for a wealth tax, and significant judicial decisions in the United States…
Is this the end of shifting profits from high-tax to low-tax jurisdictions?
The landscape of international taxation is undergoing a seismic shift with the implementation of the Organization for Economic Co-operation and Development’s (OECD) Global Minimum Tax (GMT).