US business

What Is Signature Authority on a Bank Account for FBAR?

What Is Signature Authority on a Bank Account for FBAR?
When people hear “FBAR,” they usually think about owning foreign bank accounts. But ownership (also referred to as having a “Financial Interest” in a foreign bank) of a foreign bank account is only part of the picture. The FBAR rules also apply to people who don’t own the money at all, but still have the power to control what happens to it. That’s where signature authority comes in.

Section 962 Election for U.S. Business Owners Abroad

Section 962 Election for U.S. Business Owners Abroad
Making a Section 962 election is a bit like repairing a jet engine mid-flight. It can keep you airborne when the ...
No results found.

Ready to learn more?

Rook CPAs offers dedicated one-on-one time to fully understand your current situation and propose the best tax strategies for your US business.