GEMMS Celebrates 10 Years of Service

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In May of 2002 while Arthur Andersen began shutting down and most Andersen employees began moving to other Big 4 firms and clients of Andersen, James Smith developed a better idea.  James believed we could offer a better service at a better rate.  With that idea James Smith opened Global Executive ManageMent Solutions in May of 2002.  A few months … Read More

Illegals Using ITINs for Child Tax Credits

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Attached is a link to an investigative news story out of Indiana. The story is about how some of our neighbors from the south have figured out how to scam the US Tax system and steal the child tax credits for children that are not even living in the US. I would argue that the individual that assisted these taxpayers … Read More

Record Number of Individuals Renounce US Citizenship

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Special Report: Tax time pushes some Americans to take a hike. http://www.reuters.com/article/2012/04/16/us-usa-citizen-renounce-idUSBRE83F0UF20120416 (Reuters) – A year ago, in Action Comics, Superman declared plans to renounce his U.S. citizenship. “‘Truth, justice, and the American way’ – it’s not enough anymore,” the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in … Read More

GEMMS Commercial

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At long last we have finally created and uploaded our commercial.  If you ever wondered what we do or what GEMMS stands for – here it is – http://www.gemms.us/Videos.  Please be sure to Like on Facebook, +1 if you Google+, and send to your family and friends.

Last Chance to Claim Home Energy Credits Expiring in 2011

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Cross References IRC §25C, Nonbusiness Energy Property Form 5695, Residential Energy Credits The nonbusiness energy property credit is scheduled to expire at the end of 2011 so taxpayers only have a short time to take advantage of this credit. The 2011 credit is more limited than in past years but is still available for qualifying improvements placed in service for the taxpayer?s … Read More

Why More U.S. Expatriates Are Turning In Their Passports

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I have been screaming about the long term expatriates giving up their citizenship for years now and finally someone is listening.  Time has written an article about it. Read more: http://www.time.com/time/world/article/0,8599,1983238,00.html#ixzz1dixX6Rpa

IRS Updates -Foreign Persons Receiving Rental Income From U.S. Real Property

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U.S. real estate professionals and rental agents/property managers are encountering an increasing number of situations that involve foreign persons? acquiring U.S. real estate as a part-time residence, for investment or in some cases to conduct a U.S. business. Read more here – http://www.linkedin.com/news?viewArticle=&articleID=864037108&gid=118813&type=member&item=76843219&articleURL=http%3A%2F%2Fwww%2Eintltaxcounselors%2Ecom%2Fblog%2F%3Fpage_id%3D9907&urlhash=Vev8&goback=%2Egde_118813_member_76843219