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Modelo 030 or the first step to be considered non-resident in Spain
The electronic presentation of the form 030 requires to identify yourself with Cl@ve Móvil or with an electronic certificate of DNI through the option "Extraordinary procedure for presentation of Form 030 - not in person". The model is available in PDF format for...
Non-residents in Spain – Modelo 210
We help you to determine if you are a nonfiscal resident in Spain and how that can affect your tax obligations in Spain and if you must file a Tax Return in Spain, Modelo 210, and how you must report your status to the AEAT – Spanish Tax Authorities. The tax returns...
Modelo 720-721 2024 ES
Modelo 720-721 2024 EN
Child Tax Credit: Which Divorced Parent Gets to Claim It?
Child Tax Credit: Which Divorced Parent Gets to Claim It? If you want to share the Child Tax Credit with your ex-spouse, you'll need to create your own arrangement. Income taxes might not be at the top of your to-do list after a divorce, but the complications of the...
Child Tax Credit 2024
How Much You Could Get and Who's Eligible If you have children, this credit has been providing a nice boost for your family during tax season. If you have any children under the age of 17, including any born during 2023, you could be eligible for the child tax credit....
Modelo 720 and 721. Assets abroad.
The filing period for submitting Modelo 720 “informative declaration on assets and rights located abroad” for fiscal year 2023 is from January 1 to March 31, 2024. Modelo 721 for cryptos has the same filing period. Modelo 720 for assets abroad Taxpayers must report on...
Accidental Americans in 2024
An Accidental American is someone whom US law deems to be an American citizen, but who has only a tenuous connection with that country. American nationality law provides that anyone born on US territory is a US citizen, including those who leave as infants or young...
Patrimonial company in Spain
What is a patrimonial company? Its purposes. It is one that is not dedicated to developing economic activities as its main activity, but to the administration of assets, generally composed of securities or real estate. It is defined in article 5, section 2, of the...
Avoid a surprise next year; review tax withholding now before time runs out.
With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise when they file their tax return next year. Although it's best for taxpayers to verify...
Portugal to cancel the Non-habitual Residence (NHR) Tax Benefits for Digital Nomads.
According to the Nomad Report 2023 from the rental property platform Flation, Portugal has emerged as the top choice for digital nomads, with 27% of survey participants selecting it as the most attractive destination. Portugal is an excellent place to live. The crime...
Willing to lose $3,200? IRS Streamlined Foreign Offshore Procedure
If you are a U.S. Citizen and you have not filed your 2020 and 2021 Tax returns, you are doing so! Next April 15 will be the deadline for the Streamline Foreign Offshore Procedure or Tax Amnesty which has four indisputable advantages: VIDEO. You can regularize your...
US Tax Consultants: Most Trusted Accounting Firm in 2023
US Tax Consultants and its CEO Antonio Rodríguez have starred on the cover of the magazine specialized in the business world “The Enterprise World”. The reason is having been chosen by the prestigious magazine as Most Trusted Accounting Firm in 2023 Review of the...
Modelo 721 of the AEAT or the report of cryptocurrencies and their transactions.
As of January 1st, 2024, it will be mandatory to declare cryptocurrencies and other virtual currencies. This obligation arises in order to improve fiscal and tax control. The first presentation of Modelo 721 will be that corresponding to the 2022 financial year, which...
Non-willful failure to file an FBAR carry a statutory civil penalty of $10,000.
Many Americans living overseas are required to file a Foreign Bank Account Report (FBAR). Not everyone is aware of this, however, leading to unintentional violations. Here’s an overview of the topic to help you avoid any FBAR penalties. Taxpayers who hold foreign...
Díaz Ayuso announces that in 2024 the personal income tax deduction will come into force for investors who settle in Madrid.
The president of the Community of Madrid, Isabel Díaz Ayuso, announced that in 2024 a new personal income tax deduction will come into force for anyone who has not resided in Spain in the last five years and wants to invest and move to the region. , becoming a new...
Large Fortunes Tax in Spain. Is it constitutional?
The Temporary Solidarity Tax on Large Fortunes (called the “Large Fortunes Tax”), since its creation, raised doubts about its constitutionality and was susceptible to being challenged by the bodies authorized to do so. Now, after 5 unconstitutionality appeals, the...
The end of the obligation for “Autonomos” to declare IVA (VAT) every three months is approaching.
The end of the obligation for the self-employed to declare VAT every quarter is approaching. The Spanish Ministry of Finance is already working with self-employed associations on a text to transpose European Directive 2020/285, which came into force on February 18,...
Maximize Benefits, Minimize Penalties
Unlock the art of tax compliance with finesse. 'Maximize Benefits, Minimize Penalties' is not just a motto; it's a commitment. Our streamlined approach is designed to safeguard your financial integrity while maximizing your returns. We understand that navigating the...
What to Expect from the IRS Refunds This Year
The IRS issues more than 9 out of 10 refunds in less than 21 days. However, it’s possible your tax return may require additional review and take longer. If Your Refund Isn’t What You Expected If your refund amount isn’t what you expected, it may be due to changes we...
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