Read our blog posts for a summary or commentary on current Asset Protection news and topics.
Last week, the European Union took a progressive step towards clarifying how digital currencies will be recognized in the EU for purposes of taxation. The EU now recognizes virtual currencies as legal tender, not commodity, and they are therefore exempt from VAT (Value Added Tax), a sales tax added...read more
The war on tax avoidance just got a few new casualties. Usually, discussion on the international taxation of multinationals could be compared to an episode of the classic cartoon series, Tom and Jerry where Jerry always gets away in the end, snickering self-satisfactory. This time though, it seems...read more
In a surprisingly efficient collaboration, governments are hammering the final nails into the coffin of tax avoidance. The final BEPS (Base Erosion and Profit Sharing) Project report was submitted for review on Monday, October 5, 2015, and decisions were announced three days later. G20 finance...read more
On Tuesday, August 11, 2015, China caused quite a stir in the global market by devaluing its currency, the Yuan, in what became the biggest one-day slump in 10 years.
Some commentators suggested that China intentionally created an imbalance in the export industry, to give Chinese manufacturers and...read more
Maybe the reason the Emmy-winning show ‘Modern Family’ is such a hit isn’t because of the phenomenal writers on the show (although the writers are phenomenal), maybe it’s because the show is more relevant than we think. What if Claire and Phil; Ed and Gloria; Cameron and Mitchell, and all the kids...read more
The Tax Man is having a difficult time trying to keep up with the advances in technology and the businesses that take advantage of it. In a world where technology has enabled swift global and communal evolutions, taxation of these evolutions provides challenges.
One such evolution is the ‘sharing...read more
As the rest of us are getting into the groove of late summer evenings and barbecues, the Greek economy is quickly going through the shredder. The last two weeks saw the country’s debt crises go from yellow to blazing red. What happens now that the Greek people said “No” to fiscal austerity? More...read more
Many of our clients are physicians. Doctors are vulnerable to malpractice lawsuits, often brought by avaricious plaintiffs’ attorneys. With approximately 17,000 medical lawsuits filed each year, most doctors will get sued at least once in their career, with plastic surgeons clocking in at number...read more
The Institute for the Works of Religion (IOR) otherwise known as the Vatican Bank is the latest jurisdiction to join the growing list on the FATCA bandwagon. FATCA stands for Foreign Account Tax Compliant Act, a controversial effort by the U.S. government to curb international tax evasion.
Can you put monetary value on a partitioned art collection?
A recent decision by the Appeals Court 5th Circuit in the case of Elkins V. the IRS may shed some light on this question and give art collectors and their estate planners an answer to the question above.
Many people, especially those...read more