Hiromi's Blog

Filing Requirements for Form 5472 for Japanese Owners of U.S. LLCs

Discover the tax reporting responsibilities for Japanese owners of US LLCs. This article provides a detailed explanation of the requirements, procedures, and deadlines for filing Form 5472.

2024.05.01

Tax

Attention Business Owners! The Importance of Financial Statements and Bookkeeping

Essential reading for business owners operating in the USA! Learn why understanding financial statements and accurate bookkeeping are crucial. Discover the roles of balance sheets, income statements, cash flow statements, and their connection to corporate tax filings.

2024.04.23

Accounting

Overview of the Corporate Transparency Act (CTA) Enforced in 2024: Guidance for New and Existing Businesses and Penalties for Non-compliance

Understand the Corporate Transparency Act (CTA) coming into effect in 2024. An insightful guide on compliance obligations, exemptions, and penalties for non-compliance, targeting new and existing businesses.

2024.02.06

Tax

Choosing the right business entity in the US

A definitive guide to choosing the best business structure for starting a business in the USA. Explore in-depth the characteristics, advantages, and disadvantages of Sole Proprietorships, Partnerships, LLCs, S-Corporations, and C-Corporations, clarifying the ideal conditions for each business type.

2024.01.17

Company Formation

Blockchain technology: the potential to transform future business

Explore how blockchain technology revolutionizes various business aspects including supply chain management, financial transactions, smart contracts, and data security, ushering in a new era of innovation.

2024.01.01

Miscellaneous Note

Foreign tax credit on income in Japan for US residents

Learn about the foreign tax credit for U.S. residents earning income in Japan. Discover the procedures, calculation methods, and essential points to effectively save on taxes.

2023.12.01

Tax

Digital assets and taxation in the United States: key points

Explore the taxation intricacies of digital assets in the U.S., covering Bitcoin, virtual currencies, NFTs, and more. Learn about reporting strategies for events like asset sales, exchanges, hard forks, and airdrops. Understand taxable and non-taxable events, and ensure compliance with the latest tax laws and regulations. Accurate record-keeping for digital asset transactions is crucial, and seeking advice from experts for personalized and legal tax planning is recommended.

2023.11.28

Investment

Understanding the U.S.-Japan Tax Treaty, Form W-8BEN, and Form 6166

Explore the U.S.-Japan tax treaty, along with Form W-8BEN and Form 6166, in this comprehensive guide. Clear explanations of tax procedures and the fundamentals of the U.S.-Japan tax treaty are provided in this article.

2023.11.10

Tax

Home office deduction under US tax law (expense deduction for telecommuters)

Explore the ins and outs of home office deductions in the U.S. and learn how remote workers can maximize tax benefits. Discover the eligibility criteria, calculation methods, and essential record-keeping practices to save on your taxes.

2023.10.30

Tax

Section 179 Deductions and Bonus Depreciation: Use Your Assets Effectively and Seize Tax Savings Opportunities.

Gain a deep understanding of Section 179 deduction and bonus depreciation in U.S. tax law. Learn how to effectively leverage assets to minimize taxes and seize tax-saving opportunities for your business. Get essential insights for maximizing tax savings.

2023.10.17

Tax