Tax Planning for Foreign Investors Investing in Partnerships with Income Effectively Connected to a US Trade or Business

by: Christopher Klug & Gina Jeyoung Lee – Washington DC Tax Law Attorneys A recent US Tax Court case may provide an investment opportunity for foreign investors investing in US partnerships.  On July 13, 2017, the Tax Court ruled in Grecian Magnesite, Mining, Industrial and Shipping S.A. v. Commissioner (149 T.C. No. 3 (July 13, 2017)) […]

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End the Year on a High Note with Up-To-Date Trust-Based Estate Planning

(Finally) Finishing Your Tax Returns Isn’t the Final Step by: Christopher Klug – Estate Planning Lawyer  Washington DC You may already be done with your tax returns (or maybe you even finished them in time for the April deadline!).  October 16, 2017 is the deadline to file your 2016 federal and state income tax returns. […]

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IRS Levying Massive FBAR Penalties?

by: Christopher Klug – Washington DC Tax Attorney The Internal Revenue Service (“IRS”) has significant discretion to levy large (“FBAR”) penalties and as of recently has been using this discretion to impose or threaten large penalties in FBAR audits.  This is causing US tax practitioners frustration with the IRS due to what practitioners see as the […]

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Lunching and Connecting – A DC Bar Article Feature

Here’s a quick feature of Washington DC tax lawyer, Christopher Klug Written by Sarah Kelogg – DCBar.og “Most attorneys are so busy with their legal work that they have little time left to focus on advancing their careers, learning business development, or marketing their practices. Many practitioners say the lunch hour may the best option for […]

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Free Your Clients From Old, Obsolete Trusts

The Perils of Outdated Plans and How to Overcome Them by: Christopher Klug – Trust Administration Attorney, Washington DC Estate planning needs evolve.  An old, obsolete estate plan often fails to achieve client goals, resulting in dissatisfaction, unnecessary taxes or probate costs, and a greater likelihood of lost assets under management. Fortunately, we can help […]

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Overview of Foreign Investment in The US

Christopher Klug –  International Tax Attorney, Washington DC   Nonresident aliens (“NRA”) or foreign companies can invest in the US on a very favorable tax basis as compared to US taxpayers.  There are many factors to consider for NRAs investing in the US.  The US provides a NRA investor with a strong economy and financial […]

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4 Times You Should Call an Estate Planning Attorney Right Away

Using Your Clients’ Entire Financial Team Improves Results Christopher Klug – Estate Planning Attorney, Washington DC From savings-building strategies to concerns about investments, financial advisors like you work closely with your clients throughout the year. As estate planning attorneys, we typically see those same clients far less often, but there are numerous circumstances where collaboration […]

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Foreign Earned Income Exclusion

Christopher Klug – International Tax Attorney, Washington DC   US citizens and tax residents (“US Persons”) living and working abroad experience a different income tax environment than domestic US taxpayers.  US Persons living and working abroad are allowed under section 911 of the Internal Revenue Code an annual exclusion from income tax up to $101,300 in […]

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It’s Not Too Late for a Portability Election

Christopher Klug, Washington DC Estate Planning Attorney Portability has brought both convenience and confusion to the estate planning community.  Available for surviving spouses after 2011, portability allows an unused estate tax exemption to be transferred from a deceased spouse to his or her surviving spouse. While this sounds like an appealing prospect to look into for […]

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MTG Meets Washington DC

On July 27 2017 the MTG Head of International Tax, StB Georg Weishaupt, and the founder and Managing Partner of Klug Law Office PLLC – Chris Klug, JD, LL.M. – met in Washington D.C. Because of the increasing internationalization of the business of numerous MTG clients, strongly into the U.S. markets and other nations, the meeting was […]

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