Managers of Wealth Americas

Better Report Your Offshore Assets

The CRA's multi-pronged pursuit has left tax evaders fewer places to hide. If you have unreported investments, now may be a good time to disclose them.

World’s first UN Tax Convention draft is antidote to sanctions-busting financial secrecy, campaigners announce

The draft convention would bring transparency to the estimated $10 trillion held offshore anonymously by wealthy individuals and the $1 trillion in profit shifted by multinational corporations across borders every year.

How a Tiny Tennessee Court Case May Shape the Future of Digital Assets: A Dispute over a $3,800 Tax Bill Could Have Billions of Dollars in Consequences

In essence, this staking process lets validators use tokens they already have (and a relatively small amount of computing power) to obtain additional tokens.

Tax Meets ESG: Emerging Corporate Governance Risks and Opportunities

Companies must be prepared to respond to the increasing pressure for tax transparency. At a minimum, this preparation enables the company to control its tax narrative.

Increased US Gift and Estate Tax Exemptions and Further Planning Opportunities in 2022

The maximum gift and estate tax rate remains at 40% of the fair market value of the relevant assets.

US Tax Issues For Non-US Crypto Investors

This is because, for US tax purposes, gain on the sale of property is generally treated as tax-free foreign source gain in the hands of a foreign seller.

New Attribution Requirement Denies Foreign Tax Credits for Certain Withholding Taxes (And Other Taxes)

In particular, the Final Regulations adopt a new “attribution requirement” (Attribution Requirement) that restricts the availability of FTCs to foreign taxes that the Treasury and the IRS consider to be similar to US taxes.

RSM reports 15.8% revenue growth, promotes 83 to partner and principal in US

North America recorded 15% revenue growth, with consulting services growing by a blistering 50% in 2021. RSM’s Europe and Africa regions also had 15% revenue increases, while the Middle East grew 23%, Asia grew 20%, and Latin America grew 11%.

Elon Musk says his taxes are simple and that he doesn’t use offshore accounts or tax shelters in response to Sen. Warren’s ‘freeloading’ claims

The Democratic senator had accused him of “freeloading” over taxes after he was named Time’s Person of the Year, and Musk snapped back by calling Warren “Senator Karen.”

Major Canadian Tax Avoidance Cases at Risk After Loblaw Ruling

Agency lost several big court battles in 2021

The Top HNW Story of 2021: Possible Tax Changes Coming for HNW Investors

The ever-shifting bill and the byzantine machinations that are being employed to potentially push it through with a slim Democratic majority has already experienced enough twists and turns to make it look like something out of a Hollywood movie.

Super-Rich Americans Feel Relief as Tax Hikes Are Canceled for Now

Though many of Democrats’ more radical tax proposals were scaled back or dropped in negotiations, the bill would be “a meaningful step for reducing inequality,” said Carl Davis

The ‘cowboy cocktail’: How Wyoming became one of the world’s top tax havens

An oligarch, a dictator’s aide and a beverage tycoon turned to America’s least populated state to shelter assets, the Pandora Papers show.

Canadians want more taxes on offshore real estate deals

Prime Minister Justin Trudeau last August 24 said a re-elected Liberal cabinet would legislate an outright ban on new foreign purchases of Canadian real estate for at least two years.

House taxwriters discuss implications of Pandora Papers

Burton also agreed with Republicans that small businesses and farms use trusts for legitimate planning purposes.

How Taxes Can Support Growth and Reduce Inequality in Latin America and the Caribbean

Santiago Acosta Ormaechea and Samuel Pienknagura Loor Western Hemisphere Department

Panama says it doesn’t deserve to be considered an offshore tax haven. Here’s what experts say.

In its efforts to shed its decades-long reputation as a center for tax avoidance and money laundering, the country is embracing transparency.

Required Minimum Distributions and Charitable Deductions in 2021

One other charitable provision from 2020 that has been extended for 2021 is the $300 above the line charitable deduction for taxpayers who do not itemize.

RSM Canada buys two tax credit consulting firms

The acquisition expands RSM Canada’s growing credits and incentives practice

Tax Reform: What's In and What's Out (For Now)

The summary below describes provisions in the House-passed bill that are most likely to affect individual taxpayers and also discusses portions of the original proposal that were cut from the legislation that passed the House.