FinCEN’s mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities. FinCEN website: http://www.fincen.gov/ FinCEN 114 line item instructions: http://www.fincen.gov/forms/files/FBAR%20Line%20Item%20Filing%20Instructions.pdf    

Rather Than Placing Your Money Into Business Trusts?   In creating generational wealth, preserve ones privacy, protect my assets against judgments and lawsuits, and significantly reduce income taxes, but not be exposed to the inherent risks of a sole proprietorship, partnership, corporation or other legislatively created types of business entity? A Business Trust can and does accomplish

“If poor people knew how rich rich people are, there would be riots in the streets,” Chris Rock said in a recent interview with New York magazine. The multi-millionaire comedian pointed out that poor people would be particularly shocked if they knew all the perks rich people get for being rich. “If the average person could see the Virgin

NEW YORK (CNN Money) The company she founded has the potential to change health care for millions of Americans. Elizabeth Holmes left Stanford University at 19 with a plan to start her own company. For money, she cashed out the funds her parents had saved for tuition. Now, she counts billionaire Larry Ellison as an

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You wouldn’t think it possible that a family worth millions would blow through all of it. In fact, any number of factors could contribute to a reversal of fortune, whether the decline is swift and sudden or stretched out over six generations. The usual suspects include bad investments, too much debt and overindulgent spending. Meet

The news that Harold Hamm has navigated his divorce means big dollars changing hands, although not as big as had once been projected. Mr. Hamm is worth about $14 billion and is the CEO of Continental Resources. His divorce has been protracted, but now a judge has ordered Mr. Hamm to pay Sue Ann Hamm $995.5 million, roughly $320 million of

Say your sister or one of your adult children needs money and you’d like to help out with a cash gift. Do you need to worry about the gift tax? Most of the time, probably not. You can give away more than $5 million without racking up a penny in gift or estate tax. And