We at Safe Harbor CPAs specialize in international tax issues, as many of our San Francisco Bay Area clients have financial interests in foreign countries. Often, they go to visit their assets – they might be real estate, factories, or even joint ventures with friends, families, and overseas corporations. But can one deduct a foreign travel expense on a US tax return? For that, we turn to our timely September Tax Tips Newsletter.

San Francisco Tax Tips - September, 2014Other topics for September tax tips, include –

  • Passive investing vs. active investing – what are the (taxable) differences?
  • Inherited IRA assets and bankruptcy – if your Mom or Dad passes away AND they are bankrupt, can you inherit their IRA?
  • Deducting Foreign Business Travel – as explained above, the in’s and out’s of how to deduct foreign travel expenses.

And, of course, we have our ever-popular tax calendar with upcoming events in September.  Enjoy!  To read the September tax tips bulletin, click here.

And, as always, if you have questions or needs in tax, CPA / accounting or other San Francisco Bay Area-related issues, please reach out to us by email or call 415-742-4294.