If you are living abroad and have foreign bank accounts or financial assets, two critical reporting obligations might apply: FBAR and FATCA

For self-employed individuals and small business owners, a vehicle is often a vital tool for conducting business. Whether you’re visiting...

The IRS treats cryptocurrency as property, not currency, for tax purposes.

Here’s an easy-to-understand guide on how the AMT works and the adjustments you can make before year-end to minimize its impact.

A recent ruling by a Texas federal court has placed a nationwide injunction on the enforcement of the Corporate Transparency Act (CTA)

While the chances of facing an IRS audit are low, it’s always a good idea to be prepared.

As a real estate professional or investor, the end of the year is a crucial time to assess your tax strategy.

Here’s why an LLC is typically a better choice for real estate investors looking to hold and manage rental properties long-term.

2025 Tax Changes to Know

Getting your worker classification right is vital to avoid potential penalties and ensure you’re receiving the proper legal protections.

Owning an interest in a foreign entity can be an exciting investment, but for U.S. taxpayers, it comes with a web of tax complications.

Your basis represents your investment in a passthrough entity.

MKHS Tax Group want to take a moment to reflect on what we’re most thankful for this year: you. Whether you’re a loyal client, a...

Many business owners are familiar with the idea of ‘ordinary income’ and ‘distributions,’ but these two concepts are very different.

Starting a new business is exciting, but it comes with big decisions—one of the most important being the choice of your business entity.

PFICs are subject to some of the most stringent tax rules in the U.S., often leading to higher taxes and complex reporting requirements.

Real estate investment can be a great way to build wealth, but if you’re not careful, it can also lead to an unexpected tax burden....

Foreign nationals living in the United States face unique challenges when it comes to taxes. Unlike immigration status, which is...

The good news is that the U.S. tax code offers several opportunities to save money and plan strategically for these expenses.

Whether you’re looking to help loved ones, reduce your taxable estate, or support a favorite cause, the annual gift tax exemption and lifeti