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CDH News
Abandoning Green Card Illustration
Supports Cross Border Professionals and Families This article will explain the three critical steps in abandoning a green card for U.S. tax purposes. Preparation Step Preparation is the most critical step in abandoning a Green Card. You need to ensure that your U.S....
Cross Border Inheritance Case Study
By Koh Fujimoto Support Cross-Border Life Cross Border Inheritance gives headaches even to professionals. My mission is to explain the essence of the matter in plain English. I consider the U.S. federal tax only here in this article. Case A U.S. citizen mother has two...
Do minors need to file an FBAR to disclose their accounts outside the U.S.?
The U.S. Foreign Bank and Financial Accounts Report (FBAR) program requires U.S. citizens and residents (for U.S. tax purposes) to report accounts held at foreign financial institutions if certain criteria are met. It should be noted that the FBAR regulations also...
CECL Implementation: A Practical Approach
CECL stands for Current Expected Credit Loss, and it refers to a new accounting standard introduced by the Financial Accounting Standards Board (FASB) for estimating credit losses on financial instruments. While banks and financial entities will be most impacted by...
The Crucial Vote on 2023 Tax Return’s Child Tax Credit Expansion
This week, a bill to expand the Child Tax Credit is expected to be passed, which may be of interest to families with children. Fiscal year 2023 tax returns began being accepted on January 29th. The Child Tax Credit is one of the arguments for H.R. 7024 (Tax...
Navigating Your First Tax Return as an International Married Couple: Choosing the Right Filing Status
As the tax season rolls around in April, many newlyweds find themselves navigating the complexities of filing their first tax return together. This is particularly true for international couples, such as Hana, a green card holder from her marriage to an American...
Tax Day 2024: Navigating the Fiscal Landscape
As April 15th approaches, citizens across the United States are gearing up for Tax Day 2024. This annual deadline marks the final day for individuals to file their federal income tax returns with the Internal Revenue Service (IRS). However, Tax Day this year...
2024 Update: Essential Guide to International Inheritance for U.S. Residents
This article is written with Cross-Border persons in mind, especially Japanese nationals who are U.S. green card holders, but there are some points of reference for U.S. green card holders who receive their heritage from their home country. U.S. permanent...
Announcement: CDH, P.C. is Now CDH CPA, PLLC
We are excited to announce that effective July 1, 2024, CDH, P.C. will be changing its name to CDH CPA, PLLC. Please note that while our name is changing, our commitment to you remains the same. The only significant changes you will notice are: 1.The company...
Navigating the Updated Employee Retention Credit for Taxes
The Consolidated Appropriations (CCA) Act of 2021, signed into law on December 27, 2020, changes the employee retention credit. Some of the changes retroactively modify the Coronavirus Aid, Relief, and Economic Security (CARES) Act, while others are prospective...
American Rescue Plan Act and How it Impacts Businesses
On March 11, Congress instituted the latest Coronavirus (COVID-19) relief fund, the American Rescue Plan Act of 2021. This plan includes a total of $6 trillion in economic relief. Many plan provisions provide aid if...
Coronavirus Small Business Relief Update
Second Draw Payroll Protection Program Loans and First Draw Forgiveness Businesses continue to face unprecedented economic hardship due to the Coronavirus (COVID-19) outbreak. To assist, the Coronavirus Aid, Relief and Economic Security (CARES) Act has provided...
IRS Rulings on Paycheck Protection Program and Its Tax Impacts
The recent IRS rulings of Revenue Procedure 2020-21 and Revenue Ruling 2020-27 may impact businesses' ability to deduct the funds given under the Paycheck Protection Program (PPP), provided to create relief during the pandemic.On November 18, the IRS remarked the...
Sage Intacct: Accomplishing What QuickBooks Can’t
When companies decide to leave QuickBooks, few people object. Have you reached the expiration date on your accounting software?
The Paperless Office: A New Priority for Healthcare Finance Units
The coronavirus pandemic has been hard for healthcare finance teams trying to exchange paper documents while working remotely. Here’s the simple solution.
Ditching QuickBooks: Why No One Will Miss It
When companies decide to leave QuickBooks, few people object. Have you reached the expiration date on your accounting software?
COVID-19 Relief: FASB Approves Delays in Certain Accounting Updates
The Financial Accounting Standards Board (“FASB”) is providing some relief to private companies affected by COVID-19 by approving a delay in the implementation of certain accounting standards. The FASB acknowledges that many non-public business entities rely heavily...
The Healthcare Hangout is Back!
The Healthcare Hangout is Back!We’ve spent the last few weeks working on bringing you more great content. New sessions have been added to the Healthcare Hangout online series which will start on September 17 and run through the end of 2020. Join us online for...
Are You Ready to Apply for PPP Loan Forgiveness?
Are You Ready to Apply for PPP Loan Forgiveness?Ever since the CARES Act was signed into law on March 26, 2020, followed by the enhancements provided by the Paycheck Protection Flexibility Act signed into law on June 5, 2020, there have been a flood of FAQs and...
COVID-19 Payroll Tax Deferral Update
On August 8, 2020, President Trump issued an executive order to defer the withholding, deposit, and payment of the tax employees pay towards Social Security starting September 1 through December 31, 2020. The order affects employees whose biweekly pay is below $4,000...
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