With the increased enforcement and substantial penalties imposed by the Internal Revenue Service for non-compliance with foreign disclosure reporting; our expertise in this niche market allows us to help companies and individuals with their foreign disclosure filing requirements. We also handle tax filings in the United States, and global tax planning. We work closely with your tax advisor in your home country to understand your global tax exposure and plan to minimize your global tax liability to the extent allowed by the tax code. Sometimes something as simple as a lack of coordination between the two tax professionals in each respective country can expose the client to a tax liability at the highest marginal rate in both countries. We work with the foreign tax professional to understand each other’s needs and create the most efficient tax planning strategy for our clients. We provide services anywhere from a simple scenario, where we make sure that income that is taxed by one country is properly credited for the taxes paid on such income by the other country, to a complex scenario, where we deal with income sourcing based on tax treaties between the countries and subpart F income.
Going global poses several challenges for startup businesses and small companies. When progress is made on the international front, the company might have limited resources to succeed abroad. The cost of operations might be cumbersome and risk the company’s existence in the foreign market. Established multinational companies use the services of multinational accounting firms, and the accounting fees charged by these firms could exceed the income from an abroad business venture. The high fees are often charged for the brand names of the accounting firms and not necessarily for the quality of service. At Gamburg CPA PC, we have a vision to create a multinational chain of certified accounting professionals to service the accounting needs of startup businesses and small companies at a fraction of the cost that multinational accounting firms charge while providing the same quality of service. We already work with associated small to midsize accounting firms around the world.