We are approaching tax season and we know that this fact doesn’t always evoke positive thoughts.
In this case, though, we would like to remind you of the existence of the “pass-through deduction”.
Let’s explain what it means.
Small businesses (partnerships or limited liability companies) do not pay a direct corporate tax — they “pass-through” their gains and losses to the individual members of the partnership or LLC.
Thanks to the latest tax reform, all... READ MORE
US Expats in Italy: is it really possible to have everything under control?
The reasons that can push a person to move to another country are many: economic reasons, business, study and, why not, sentimental reasons.
The fact is that in addition to a careful examination of all the paperwork needed to relocate (visa, driving license, pet transportation, new residence… etc.) it will also be necessary to evaluate all legal, fiscal and economic aspects of the destination country to avoid any false move.
What is the healthcare system like in that country? Will... READ MORE
Foreign revenues, how to tax them
We work with many clients living abroad for most of the year, and one of the questions we are often asked is how to consider the income produced abroad and then transferred to Italy.
Many of them wonder if such income can be declared only in the country where it was generated, or should it also be taxed in Italy?
First of all, it is useful to define when a person is a resident or not resident in the State.
For income tax purposes, individuals are... READ MORE