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RECENT POSTS FROM DUKHON TAX
Olympians are definitely stuck contending with tax bills resulting from their victories. Most prizes and awards are taxable whether you win $100 at a fishing competition or a dishwasher worth $2,000 on a gameshow. The Olympic committee awards $25,000 to gold medalists, $15,000 to silver, and $10,000 for bronze but what makes Olympic medals an interesting phenomenon is that the winners must pay taxes not just on those cash awards but the actual value of the medal itself.read more
The United Kingdom’s vote to leave the European Union (EU) is going to have a lot of impact on international trade, not to mention the American economy and tax policy. Americans with UK-sourced income and businesses looking to enter the UK market should take heed of the impending changes and how they will affect their tax liabilities. Here’s an overview of Brexit’s impact on American businesses and American expats who live and work abroad in the UK.read more