Tax Consulting for Businesses
Domestic Tax Consulting
Businesses view taxes like most of us do–as a burden that can’t be avoided. Naturally, businesses want to maximize their profitability which means minimizing taxes whenever possible. To be fair, the U.S. tax code provides plenty of opportunities to save on taxes, but you need a skilled advisor in your corner who knows what those opportunities are and how to take advantage of them.
International Tax Consulting
Today’s business world is much different than it was even a few decades ago. New technologies have made many traditional business models obsolete making it necessary for businesses to adapt in a world where boarders aren’t always clear. It is now almost as easy to transact business with someone on the other side of an ocean, as it is to transact business with someone across the street.
Corporate structuring is the design and implementation of the corporate structure through which you conduct your business. Choosing the right corporate structure is vital to the success of your business and protection of your assets.
Foreign Account Tax Compliance Act (FATCA)
FATCA is legislation that was enacted to combat tax evasion by U.S. persons with foreign financial assets. The IRS’ theory is that by “motivating” foreign financial institutions (“FFIs”) to report information on U.S. clients that those U.S. clients will come forward voluntarily. FFIs failing to turn over information on accounts owned by, or for the beneficial interest of, U.S. persons are subjected to a 30% withholding tax on certain payments.
Transfer pricing is the price that is charged between related business entities for goods and services. The transactions may include financial transactions, transfers of intellectual property, services, tangible goods, or loans. For example, a U.S. corporation purchases widgets from its foreign subsidiary, the price the U.S. corporation pays its foreign subsidiary for the widgets is the transfer price.