What Is An FBAR? Taxes From A to Z®
Learn what an FBAR is, who must file one, what the threshold is, and which foreign assets count.
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Don’t Overlook Foreign Assets At Tax Time
You may think you know what a taxpayer with foreign assets looks like. It’s easy to paint a picture of the super-rich jetting off to the Caymans, but that’s more Hollywood-driven than real life. Taxpayers with control over foreign assets come in all shapes and sizes. It’s the executive who works in the U.S. on…
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Snoop Dogg Has Money On His Mind After Being Stopped With Lots Of Cash In The Airport
Last week, Italian police stopped rapper Snoop Dogg and found $422,000 (€385,071.64) in his luggage (Louis Vuitton, of course) just as he was about to board a plane. Snoop, whose real name is Calvin Broadus, had not declared the cash and that’s against the rules. In the European Union, the maximum amount of cash that…