Strategies to optimize your finances

The IRS requires an S corporation owner to take a reasonable salary before distributions. Learn to set reasonable compensation and avoid penalties. 

IRS Form 1041 is the income tax return for estates and trusts. See who must file, what it reports, deadlines, and how the K-1 shifts the tax.

Use Form 709 to report gifts above the annual exclusion. Who files the IRS gift tax return, when it's due, and why most people owe no tax.

What IRS Form 706, the federal estate tax return, covers: who files, the $15 million exemption, the deadline, and the GST tax.

IRS Form 5471 is how a US person reports ownership in a foreign corporation. Learn who must file Form 5471, the schedules, and the penalties. 

FBAR filing explained: who must file FinCEN Form 114, the $10,000 foreign bank account threshold, the deadline, and how to file an FBAR.