November 2025

When individuals or businesses in Colombia want to protect assets, manage investments, or structure real estate projectsYear-end taxes are sneaking up fast, and if it feels like the calendar just flipped to fall, that’s because it did! Still, the smartest business owners and real estate professionals know: November is the prime time to get ahead of tax season pressure and set up a stress-free year-end finish.

Working as an independent contractor offers freedom and growth potential—but also unique tax responsibilities. Unlike traditional employees, contractors must handle self-employment taxes, quarterly payments, and meticulous recordkeeping. This guide, based on over a decade of CPA experience, breaks down everything from IRS classification and key deductions to common mistakes, essential forms, and entity structures that can help lower your tax bill. With the right planning, contractors can stay compliant, reduce tax liability, and turn tax season into a strategic opportunity for financial growth.

Unlock the Power of the 1031 Exchange If you’re a real estate investor aiming to grow your portfolio without getting hit by capital gains taxes, the 1031 exchange can be a game-changer. This IRS-approved strategy allows you to sell one investment property and reinvest in another “like-kind” property—deferring taxes and keeping more of your money working for you. By following strict timelines and reinvesting all proceeds through a qualified intermediary, investors can scale into higher-value properties, boost cash flow, and build long-term wealth. Mastering this strategy can help you preserve capital, diversify holdings, and create a stronger legacy for future generations.

Operating across borders brings immense opportunities—but also complex tax challenges. One of the most crucial areas for any multinational business is transfer pricing—the pricing of goods, services, or intangibles exchanged between related entities. Far from being arbitrary, these prices must follow the arm’s length principle, ensuring they reflect fair market value to prevent profit shifting and double taxation. Noncompliance can lead to severe penalties, audits, and reputational damage. Understanding key regulations, documentation requirements, and OECD guidelines is essential for staying compliant. This article breaks down the fundamentals of transfer pricing, its risks, and how to safeguard your multinational operations through robust compliance practices.

Owning property abroad is exciting, but for U.S. citizens, it's a major tax and compliance hurdle. The IRS requires detailed reporting of foreign rental income (Schedule E), and transactions may trigger FBAR (FinCEN 114) and FATCA (Form 8938) filings with steep penalties for non-compliance. Capital gains are taxable, and deductions must be properly managed using forms like the Foreign Tax Credit (Form 1116) to avoid double taxation. The key mistake is relying on domestic accountants; international real estate requires expertise in both U.S. cross-border regulations and local tax laws (like Spain's GILT tax). Working with a specialized CPA before purchasing can save significant time, money, and legal stress by ensuring accurate, timely filings and simplifying multi-layered compliance.

International tax compliance can feel like a maze — especially for CPAs serving clients with overseas businesses or investments. Recently, I helped a fellow CPA navigate complex cross-border reporting for their client, and that collaboration inspired me to formally offer dedicated international compliance support for accountants and their clients.