"While some people might find it distasteful to pay taxes, I don't. I find it patriotic."
- Mark Cuban
We get international taxes, done right
International
Tax Planning
We help you plan your international investments and global business expansions in a way that minimizes your worldwide tax liability and maximizes your return on investment. Our International Tax Advisors have years of international tax experience helping global investors and international businesses achieve maximum international tax efficiency.
International
Tax Preparation
We are a leading international tax preparation CPA firm. Over 12,000 clients trust us with their income tax return preparation. We can help you prepare your US tax return as well as your foreign information returns so you can comply with all applicable local and international tax laws.
International
Tax Representation
If your tax return is selected to undergo a governmental tax audit, we can represent you during the audit, appeals, and collection proceedings. We will assist you with the compilation of the requested documents, attend all meetings on your behalf and develop an international tax strategy to defend your position during the audit.
QUESTIONS & ANSWERS
INTERNATIONAL TAX SERVICES
What is the difference between US corporations and foreign corporations?
The primary difference between the US taxation of domestic corporations and foreign corporations is that domestic corporations are subject to US tax on their worldwide income, while foreign corporations are only subject to US tax on their US-source income. This means that foreign corporations may be able to reduce their overall tax liability by structuring their affairs so that they have more foreign-source income than US-source income. It is important to point out that US corporations file form 1120, US Corporation Income Tax Return while foreign corporations file Form 1120-F, U.S. Income Tax Return of a Foreign Corporation.
What is Form 1120-F?
Form 1120-F is the form used by foreign corporations to file their US income tax returns. Foreign corporations use Form 1120-F to report their US income, gains, losses, deductions, credits, and to figure out their U.S. income tax liability. Yes, a foreign corporation that is engaged in a US trade or business at any time during the year must file a US tax return. Foreign corporations are required to pay taxes on US source income and effectively connected income on their US trade. By filing their US income tax return, foreign corporations ensure their compliance with US tax laws, avoiding any tax penalties on international trade.
What is the difference between a resident individual and a nonresident individual for tax purposes?
A resident alien for tax purposes is an individual who is a citizen of the United States or who is a legal permanent resident of the United States. A nonresident alien for tax purposes is an individual who is not a legal permanent resident of the United States and who meets neither the green card test nor the substance present test. Resident individuals are taxed on their worldwide income while nonresident individuals are only taxed on their income from sources within the United States. Resident individuals file Form 1040 US income tax return, while nonresident individuals file Form 1040-NR.
What is Form 1040-NR?
Form 1040-NR is the nonresident alien income tax return used by foreign individuals who earn income in the United States or who engage in business in the U.S. but who do not meet the criteria to be considered a resident alien for tax purposes. Form 1040-NR is the nonresident alien income tax return required to file with the Internal Revenue Service. The IRS estimates that taxpayers spend an average of eight hours filling out this form. While instructions for this form are relatively simple, there are more than 30 pages of instructions that apply specifically to international individuals and there are various international tax laws that apply specifically to foreign individuals. For this reason, many foreign individuals seek professional guidance, so they can minimize their income tax liability while being in compliance with international tax laws.
