How to Use Life Insurance to Pay Off Debt

Paying off debt is easier said than done, but it may be easier than you realize. If you have a life insurance policy that you no longer need for any reason, you may be able to sell your life insurance for a lump sum cash payment. The average American household is struggling with credit card debt, student loans, a home mortgage, and other expensive monthly payments. Imagine paying that off for good. With a life settlement company deal, … Read More

OVDP to Stay Open Indefinitely

The International Revenue Service (IRS) has provided taxpayers with the ability to voluntarily disclose accounts and income that were not properly reported in the past. This is largely a result of the Foreign Accounts Tax Compliance Act (FATCA) which was passed in 2010 and came into effect just last year. The law requires foreign financial institutions to provide more detailed information about U.S. citizens who hold accounts or assets overseas. Since the law has gone … Read More

Exceptional Collaborative Services Provided by Freeman Tax Law

Tax attorneys provide a necessary service for clients who require professional legal assistance with important tax matters regarding their personal or business finances. However, one boutique law firm is breaking the mold by offering more than just legal services and representation. Freeman Tax Law, founded by Jeffrey S. Freeman, J.D., L.L.M., provides a unique combination of legal and accounting services through a project-based approach to each case. Very recently a case was handled by us … Read More

Additional Problems for Americans in Hong Kong Due to FATCA

Taxpayers from the United States who are living or working in other countries have continued to face negative consequences of the Foreign Accounts Tax Compliance Act (FATCA). The law was passed in 2010 and went into effect in July of 2014. It basically requires foreign financial institutions around the world to comply with strict information reporting requirements regarding all account holders who are U.S. taxpayers. Banks, investment groups, and even insurance companies are now required … Read More