Running a business comes with no shortage of decisions, but few carry as much long-term financial weight as choosing the right entity structure. If your LLC is generating $40,000 or more in net profit annually, it may be time to consider converting to an S Corporation — and the tax savings could be significant. Learn when it makes sense to make the switch and what you need to know before you do.

US citizens and expats with foreign bank accounts face strict IRS and FinCEN reporting requirements. From FBAR to FATCA, learn the most common mistakes — and how to stay compliant.

If you have a foreign pension or investment account abroad, you've probably never heard of a PFIC. That's a problem — because the IRS has, and the tax rules around them are brutal.   What's a PFIC? PFIC stands for Passive Foreign Investment Company. In plain English: almost any foreign fund. Foreign mutual funds, foreign ETFs, foreign pension funds that invest in pooled vehicles — they almost all qualify. If your foreign pension invests in foreign funds (which virtually all d