If you are managing tax obligations across New Zealand and the United States, the biggest risk is not complexity. The biggest risk is timing — and the assumption that everything can be dealt with “at year end”. Cross‑border outcomes usually go wrong when decisions are...
The role of Form 5471 in the U.S. international tax system
The IRS has released the yearly average currency exchange rates for 2025. These are the IRS-approved rates, country-by-country, to be used for certain foreign currency translations required in the preparation of U.S. tax returns. They exist to enable filers of U.S....
Taxpayers waiting for the IRS’s official Yearly Average Exchange Rates will need to hold on a little longer. As of now, the IRS has not yet published its annual table for the 2025 tax year. However, there is some good news for those preparing FBARs (FinCEN Form 114)...
The State and Local Tax (SALT) deduction has long been one of the most debated features of the U.S. tax code. For tax years commencing in 2025, the deduction has seen the most significant increase in several years. The cap has lifted from $10,000 to $40,000 for joint...
