Cole & Waxman Tax Services

An unfortunate topic - needs to be answered.

War and Terror-Related Injury and Disability Payments: U.S. Tax Treatment for Americans in Israel - Cole & Waxman Tax Services War and Terror-Related Injury and Disability Payments: U.S. Tax Treatment for Americans in Israel Families coping with the trauma of a terror attack or a war injury have already endured more than enough loss and stress. They should not face the burden of unnecessary tax complications on top of their...

https://colewaxman.com/executive-order-14247-what-u-s-citizens-in-israel-and-overseas-need-to-know-about-irs-refunds/

Executive Order 14247: What U.S. Citizens in Israel and Overseas Need to Know About IRS Refunds - Cole & Waxman Tax Services Over the past year, we’ve been getting the same question again and again from U.S. citizens living in Israel and other countries:“How are we supposed to receive IRS refunds if we don’t have a U.S. bank account?” That question just became a lot more urgent. Under Executive Order 14247 – Mod...

Trump accounts part 2

Trump Accounts Part 2 – Should You Add Family Funds to Your Dual-Citizen Child’s Trump Account? - Cole & Waxman Tax Services Should You Add Family Funds to Your Dual-Citizen Child’s Trump Account? Short answer: usually not. For U.S.–Israeli families, the Trump Account looks attractive on the surface — tax-deferred growth, a government seed deposit, and a retirement-style framework. But once Israeli tax law is applie...

New Trump Savings Account

Trump Accounts: A New Tax-Advantaged Savings Account for Children – What U.S.–Israeli Families Should Know (part 1) - Cole & Waxman Tax Services A new U.S. savings vehicle for children — informally known as the “Trump Account” — is beginning to attract attention among American families worldwide. For U.S. citizens living in Israel, this account offers a rare opportunity to start building long-term wealth for children from birth — w...

Passing on US citizenship to the next generations... read this blog

US–Israeli Citizens — The Next Generation - Cole & Waxman Tax Services (Plain-English guide for parents, adult kids, and the new grand-babies) by I. David Waxman, EA The story so far Many years ago, you left the alter heim (aka the USA) and built a new life in Israel. Now your children are adults, earning salaries, getting married, and welcoming their own children. If....

Having trouble resolving an IRS mistake? See this blog

IRS Conflict Resolution: How to Fix Common Tax Problems - Cole & Waxman Tax Services by I. David Waxman Introduction Dealing with the IRS isn’t anyone’s idea of fun. But mistakes happen, and when they do, you need a roadmap to get them corrected. Below are common issues taxpayers run into, followed by practical steps to resolve them. 1. Common IRS Problems Erroneous tax assessme...

Having FOMO on US real estate investing? Read this blog

Living in Israel Investing in U.S. Real Estate - Cole & Waxman Tax Services By I. David Waxman, EA 1. U.S. Taxes For U.S. citizens, the IRS taxes worldwide income — including rent from U.S. properties — no matter where you live. Whether your property is in Florida or Ohio, you’ll file a U.S. tax return every year and report the rental activity on Schedule E of Form 10...