Susan Turcotte
- Entity taxation
- Corporate tax strategies
- Deduction optimization
- Bachelors in Accounting, Bryant College in Smithfield RI
- Masters in taxation, Bryant College in Smithfield RI
Articles
Canadian Controlled Private Corporation (CCPC): definition, criteria, and tax advantages in 2026
A Canadian Controlled Private Corporation is a private corporation incorporated in C...
Throwback tax explained: Rules for trusts, foreign trusts, and state-level obligations in 2026
If you are a US beneficiary of a trust – especially a foreign trust – and you receive a distribution that includes income accumulated over prior years, the IRS may tax you as if that income had been paid out in the years it was earned. That is the core idea behind the throwback tax. This article walks through the federal rul...
QBAI explained: Qualified business asset investment, tested income and tested loss in 2026
Quick answer: QBAI – qualified business asset investment – is the average adjusted basis of depreciable tangible property that a controlled foreign corporation uses in its trade or business, measured under the Alternative Depreciation System. QBAI determines how much of a CFC’s income is shielded from ...
Are World Bank salaries tax-free? What employees must know in 2026
World Bank salaries paid to non-US-citizen employees are generally exempt from host-country income tax under the IBRD Articles of Agreement. US citizens and green card holders face different rules – and those rules diverge from each other in ways that catch many employees off guard. This article covers who qualifies for the exempt...
FinCEN Form 105 (CMIR): Complete guide to currency reporting when crossing US borders
Quick answer: If you physically transport, mail, or ship more than $10,000 in currency or monetary instruments into or out of the United States, you must file FinCEN Form 105 – formally called the Report of International Transportation of Currency or Monetary Instruments, or CMIR. The requirement applies at the ti...