Report of Foreign Bank and Financial Accounts (FBAR)

If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service.

Who must file an FBAR? Any United States person who has a financial interest in or signature authority or other authority over any financial account in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year. Failure to file an FBAR when required to do so may potentially result in a fine up to $500,000 and a jail term of up to ten years.

The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.

For additional FBAR information contact ABA Tax Accounting. Based in MN, ABA Tax Accounting has been helping clients in Minnesota and surrounding states grow their businesses since 1989. Our significant investment in cloud computing enables us to provide affordable online payroll, bookkeeping, accounting, individual income tax, business tax, international tax, IC-DISC – U.S. export tax incentive and EB-5 Investors Green Card services in ALL 50 states. For Free Consultations call or email.
Amare Berhie, International Tax Advisor
ABA Tax Accounting
amare@abataxaccounting.com
Skype id “amareberhie”
Direct 612-282-3200
G Voice 612-424-1540
Toll free 866-936-0430
http://www.abataxaccounting.com

Advertisements

Recent FBAR Guidance

On February 24, 2011, the Treasury Department published final regulations amending the FBAR regulations. These regulations will be effective on March 28, 2011, and apply to FBARs required to be filed with respect to foreign financial accounts maintained in calendar year 2010 and for FBARs required to be filed with respect to all subsequent calendar years.
For additional FBAR information contact ABA Tax Accounting. Based in MN, ABA Tax Accounting has been helping clients in Minnesota and surrounding states grow their businesses since 1989. Our significant investment in cloud computing enables us to provide affordable online Payroll, Bookkeeping, Accounting, Individual income tax, Business tax, International tax, IC-DISC- U.S. export tax incentive and EB-5 Investors Green Card services in ALL 50 states. For a Free Consultation call or email:
Amare Berhie, International Tax Advisor
Licensed to Represent Taxpayers Before the IRS
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

Save up to 60% on costs associated with accounting and bookkeeping functions.

ABA Finance and Accounting outsource services will deliver breakthrough cost reductions and data-driven practices giving financial managers the freedom to focus on core competencies through finance and accounting outsourcing. 100% U.S. based finance and accounting outsourcing solutions.
For Free Consultations call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

Save 40 to 60% on costs associated with accounting and bookkeeping functions.

ABA Tax Accounting Finance and Accounting Outsourcing Services provides financial management services help companies achieve high performance within finance. Outsourcing finance and accounting presents a series of unique challenges that require proficiency and refined expertise. The competitive benefit in every industry goes to those financial managers who strategically leverage lower costs and streamline their business processes. Equally, this must be balanced with ensuring compliance with the GAAP and Sarbanes-Oxley Act. 100% U.S. based finance and accounting outsourcing solutions.
For Free Consultations call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430
http://www.abataxaccounting.com

Discover the ABA Finance And Accounting Outsourcing Solution Difference!

ABA Finance and Accounting outsource services target is to help clients consistently realize 40-60 percent savings in operating costs, unlocking valuable capital and fueling expansion and increased profitability. Just as notably, our clients’ outsourcing relationships are laser-focused on compliance.100% U.S. based finance and accounting outsourcing solutions.
For Free Consultation call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Skype id “amareberhie”
Toll free 866-936-0430
http://www.abataxaccounting.com

Do More with ABA finance and accounting outsource solutions!

ABA Finance and Accounting outsource services will deliver breakthrough cost reductions and data-driven practices giving financial managers the freedom to focus on core competencies through finance and accounting outsourcing. Our target is to help clients consistently realize 40-60 percent savings in operating costs, unlocking valuable capital and fueling expansion and increased profitability. Just as notably, our clients’ outsourcing relationships are laser-focused on compliance.100% U.S. based finance and accounting outsourcing solutions.

For Free Consultation call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Skype id “amareberhie”
Toll free 866-936-0430
http://www.abataxaccounting.com

Discover the ABA Finance & Accounting Outsourcing Solution Difference!

ABA Tax Accounting Finance & Accounting Outsourcing will unfasten business value by applying proven process methodologies and business excellence frameworks to significantly reduce costs enhance effectiveness and optimize business processes. One of the most important advantages of BPO is the way in which it helps to increase a company’s flexibility. 100% U.S. based finance and accounting outsourcing solutions.
For Free Consultations call or email:
Amare Berhie, Managing Member
amare@abataxaccounting.com
Skype id “amareberhie”
Direct 612-282-3200
Toll free 866-936-0430
http://www.abataxaccounting.com/CustomF.htm

Developing Facebook Business Fan Page

We all know how it can be challenging for a new business to grow a fan base, so let’s follow each other’s business on Facebook. Here’s the link. Please like it and I would do the same http://www.facebook.com/abataxaccount This is a simple, easy, painless networking tool and can benefit everyone in the group! I am borrowing this brilliant idea from other Members on LinkedIn. I will also accept all invitations through LinkedIn. Feel free to send an invitation request to amare@abataxaccounting.com or LinkedIn: http://www.linkedin.com/in/amareberhie
Thank you.
Look forward to hearing from you!
Amare Berhie, Managing Member
ABA Tax Accounting
amare@abataxaccounting.com
Toll free 866-936-0430

100% U.S. based affordable Finance and Accounting Outsource Services

CPA firms are able to obtain more profitable business, such as consulting, attests and tax work. These services are best left to firms that specialize in outsourcing who can tailor their services to the individual needs of each client. To grow your business and provide high-end services to your clients, you must provide constant supervision and controls. CPA’s should not be reviewing the accuracy of each expense posting but focusing on ratios and reasonableness. Free up your time with ABA finance and accounting outsource solutions low cost accounting bookkeeping outsourcing!
For Free Consultations call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
Toll Free: 866-936-0430
Email: amare@abataxaccounting.com http://www.abataxaccounting.com/CustomF.htm#OBOOK

Why CPA Firms Should Outsource Bookkeeping Services

100% U.S. based affordable Finance and Accounting Outsource services. Why Have Offshore outsource when you can have ABA Finance and Accounting Onshore Outsourcing Solutions?

Do more with ABA finance and accounting outsource solutions! By outsourcing the day to day processing, like accounts payable, accounts receivable, bank reconciliations, credit card account reconciliations, etc. and knowing that the product they are reviewing is accurate, CPA firms can provide enhanced services to their clients at little to no additional costs.
For Free Consultations call or email:
Amare Berhie, Managing Member
ABA Tax Accounting
Toll Free: 866-936-0430
Email: amare@abataxaccounting.com http://www.abataxaccounting.com/CustomF.htm#OBOOK

%d bloggers like this: