International Tax Services for Businesses

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International Financial tax service

In today’s globalized economy, when any firm has clients and suppliers all over the world, it is extremely critical to be able to conduct international operations with maximum legal clarity and the lowest possible tax cost, taking into account tax relief if appropriate.

International Tax Advisory Services: Keeping you ahead of international tax developments

International Taxation

The combination of US and foreign tax regimes frequently creates chances for foreign-based corporations to lower taxes on a global scale, resulting in long-term cash savings. We specialize in cross-border tax planning to assist foreign-based corporations in efficiently aligning their commercial and tax objectives.

To assist foreign MNCs in meeting their business needs while maintaining a competitive effective tax rate, a number of strategies have been discovered, developed, implemented, and documented. In the current hard economic environment, these measures may include tax-efficiently repatriating cash or redeploying money to required areas, avoiding tax expenses on investment exit, and constructing a tax-effective structure.

Our methodology is intended to maximize tax opportunities while identifying and managing negative tax implications. These tactics are intended to ensure that a foreign MNC’s US operation contributes to the group’s global effective and integrated approach to tax planning. These strategies are meticulously crafted to guarantee that targeted tax outcomes are smoothly integrated into business objectives and operations.

International tax compliance can be difficult, whether you are a U.S. corporation looking for prospects abroad or a foreign investment in the United States. If you don’t have the necessary help, you could be putting your company in danger of missing out on opportunities or paying significant fines.

Our international tax specialists can provide full tax planning services to your company. We deliver a variety of options — cross-border transaction planning, strategies to keep your worldwide effective tax rate low, global mobility services, and IC-DISC, FDII, GILTI, and foreign tax credit planning — to help you stay ahead of local, state, federal, and international tax law compliance.

If you conduct cross-border business or compete in various jurisdictions, you have complied with tax laws, including statutory compliance as per the statutory requirements – You must stay up to date on new legislative developments – this will be a difficult task for your tax professionals.

In today’s environment of increased globalization, the key to business success is to design a tax strategy and connect your execution with your planned corporate tax strategy.

International Tax support every step of the way

We also work with tax professionals that are based internationally and have the resources, relevant experience and competency to help the companies to address the following transactions:

  • Transfer pricing transactions
  • Cross Border needs
  • Legal Compliance
  • Other tax issues

If you have foreign interests (such as a company overseas), you might not be aware of the international tax requirements brought on by recent reforms. From taxes on past and current overseas income to additional forms needed for your return, it’s critical to be aware of your obligations so you can avoid penalties. And the last thing you need is an unpleasant surprise from the IRS when you file your return!

There’s more than meets the eye with international tax.

When you hear the words “international tax,” you usually envision a multinational firm with thousands of employees and offices in far-flung countries. However, you do not have to be a giant conglomerate to be subject to foreign tax obligations (or eligible for breaks).

Did you know?

You must record foreign-sourced income on your U.S. tax return if you are a citizen or resident of the United States and you have income from another nation. This is because U.S. citizens and residents are subject to taxation on their worldwide income.

  •   It is possible that your company will qualify for tax savings if it manufactures and sells goods to clients in other countries.
  •   The IRS requires you to record foreign bank accounts if you own, inherit, or have signature control over them if you have a net worth of more than a particular amount. 
  •     If you invest in a foreign company, you will also be subject to reporting requirements, as will holding foreign bank accounts.
  •   You may be subject to tax withholding when you sell real estate in the United States, as well as income tax if you rent out the property or make a profit on the sale if you are not a citizen of the country in which you live.

The bottom line is… the complications are real for even the smallest of international endeavors.

What you don’t know can hurt you.

It is critical to work with international tax consultants who are familiar with the ins and outs of foreign tax legislation because the penalties for non-compliance are often severe. Gamburg CPA’s international tax accountants have the skills and knowledge you require to ensure that you are complying with the duties imposed by your international transactions and interests. Contact us now to learn more. Our international tax planning services cover the following.:

  • Filing of reports on bank accounts and foreign financial assets
  • Help with offshore voluntary disclosure programs
  • Applying for FIRPTA withholding certificates to reduce or eliminate withholding on sales of real estate by nonresidents
  • Obtaining a federal taxpayer identification number (TIN)
  • Entity structure consulting for foreign and US owners
  • Structuring tax incentives for manufacturers with profits from exports (IC-DISC)
  • Preparation of income tax returns for nonresident aliens
  • Reporting of foreign interest in foreign corporations and trusts
  • Foreign income tax exclusion calculations for wages earned overseas

First Steps with Your International Business?

Our International tax experts at GamburgCPA would love to assist with any question. Conatct us today!