My parents are Italian citizens who have lived in the UK for over 40 years but are still domiciled in Italy. They are in their late 80s and 90s and have assets in Italy, including a house, land, and belongings. I live in the US as an Italian citizen with a green card and am the sole heir. What are the tax implications when they die, both in the US and in the UK or Italy?

November 26th, 2023

Can I transfer 100% ownership of my C-Corp to a Canadian citizen who is not a U.S. citizen nor resident, and what tax forms do I need to file for the transfer?

December 2nd, 2024

Several members of an adult community have formed a hobby club with about 15 members who will pay annual dues of $100. We wish to open a bank account in the club's name in Pennsylvania. What is required to open such a bank account, and are there federal filing requirements to be met, considering we do not expect significant revenue other than the dues?

December 3rd, 2024

Can a couple with a combined Modified Adjusted Gross Income (MAGI) of 174,325 each make a $5,000 Roth IRA contribution if neither is covered by a qualified plan?

December 2nd, 2023

In 2010, I bought a car from Illinois but I live in PA and did not pay state taxes. I just received a letter from a law firm/debt collector obtained by the state to collect the amount. What will happen if I ignore them? What is the process for this type of situation?

September 20th, 2024