The Tax Cuts and Jobs Act of 2017 (TCJA) is a major overhaul of our tax system that affects nearly everyone, including individuals, families and companies. While the law was signed in 2017, income earned in 2018 is when its impact will first be made on those filing taxes. This even includes some of those who receive Social Security benefits.
The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions to indentify U.S. taxpayers and report information about their financial accounts. The primary aim was to prevent taxpayers from using foreign accounts to commit federal tax crimes.
When it comes to business dealings with the country's neighbor to the north, borders often get blurred, especially here in Toledo, which is not that far from the border. If you conduct business in more than one country, you will need to account for the income you make from your domestic and foreign sources.
Tim Conway is known for his goofy antics and oddball characters in films as well as on television shows, particularly as a member of the Carol Burnett Show cast. Sadly, the 84-year-old actor now suffers from an advanced form of dementia and lives elder care facility.