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Get a solid understanding of international tax terminology and regulations that apply to a U.S. entity involved in global operations, or for a foreign entity doing business in the U.S. Whether your organization is contemplating a global move or is already involved in international business, you need to know about the activities that create multijurisdictional tax exposure and the required tax reporting for each relevant jurisdiction. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law and the subsequent regulations.

Objectives

When you complete this course you will be able to:

  • Identify basic foreign tax law fundamentals to properly serve clients that require international tax compliance.
  • Recognize how to comply with U.S. tax reporting requirements for inbound and outbound transactions and operations.
  • Identify how to source income to a foreign jurisdiction.
  • Determine the required allocation and apportionment of deductions to foreign sourced income.
  • Analyze which foreign taxes are creditable against U.S. taxes.
  • Recognize how to Report foreign bank accounts and investments in jurisdictions including FATCA rules.
  • Identify the U.S. tax reporting requirements for foreign affiliates.
  • Recognize how to structure transactions and/or business operations of foreign-based service businesses entering the United States.
  • Evaluate the effect of treaties on the taxation of your client's foreign based income activities.

Highlights

  • Receipts in foreign currency
  • Allocation and apportionment of deductions
  • U.S. foreign tax credit - fundamentals and special rules
  • Initiation of foreign operations
  • Foreign branches and affiliated companies
  • Sale of use of tangible property
  • Foreign business operations in the United States
  • Foreign business sales of tangible property in the United States
  • Foreign business provision of services in the United States
  • Exploitation of business assets outside of the United States
  • Use of foreign tangible/intangible property in the United States
  • U.S. withholding taxes on foreign businesses

Who Will Benefit

Senior associates through manager in public accounting who assist clients with tax implications of their global operations, owners, and CFOs of closely held businesses with international operations

Credits

Category Amount
Tax 8.00

Leaders

  • David R. Peters

    David R. Peters, CPA, CFP, CPCU, MST, MBA is an independent tax preparer for Peters Tax Preparation & Consulting, and a financial advisor and outside representative for Carroll Financial Associates. He has over fourteen years of experience in financial services, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer of Compare.com, an insurance price comparison company - a position he held for over three years. He was also instrumental in the early success of Elephant Auto Insurance, a six state auto insurance carrier, located in Glen Allen, VA. He holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics in Virginia, North Carolina, and South Carolina. He is an Adjunct Professor in Finance and Accounting at Winthrop University in Rock Hill, SC, and teaches regularly for Kaplan Test Preparation. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.

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