Tax Consulting Services for Individuals

Domestic Tax Consulting

Esquire Group provides a full-range of domestic tax consulting services. Whether you are buying a house, starting a family, considering a charitable gift or contemplating a business start-up, we can help make sure you do it in the most tax advantaged way. You might be asking yourself: How much should I be contributing to a retirement plan? Is the timing right for purchasing or leasing a car? Am I missing any deductions that could reduce my tax liability?

 

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Tax Consulting for U.S. Persons with Foreign Income or Assets

If you have foreign income or assets, such as a bank account, brokerage account, business entity, wages, or investment income, it is crucial that you understand your U.S. tax obligations. As a U.S. citizen or resident alien you are taxed on your worldwide income; that is income earned anywhere in the world. Foreign income and assets are subject to complex U.S. tax rules—so proper planning is critical. Without it you could wind up paying more tax than you have to, be subjected to stiff penalties, or even face criminal charges.

 

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Tax Consulting for U.S. Persons Living Abroad (Expats)

Many U.S. citizens or resident aliens have, for various reasons, decided to live outside of the U.S. If you are one of these individuals, remember that the U.S. taxes you on your worldwide income, and requires that you disclose certain foreign financial accounts and assets.

 

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Tax Consulting for Nonresident Aliens

If you are a nonresident alien but have U.S. income or assets, it is important that you understand how the U.S. will tax you, and that the U.S. tax system will treat you differently than it treats U.S. taxpayers. You need to know what those differences are and how they impact you.

 

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Foreign Account Tax Compliance Act (FATCA)

FATCA is legislation that was enacted to combat tax evasion by U.S. persons with foreign financial assets. Under FATCA, U.S. tax payers holding financial assets outside of the U.S. must report those assets to the IRS on Form 8938, Statement of Specified Foreign Financial Assets, if they exceed a certain threshold.

 

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Pre-Immigration Planning

Obtaining a visa, green card, or U.S. citizenship is a dream come true for many people. But without proper planning this dream can quickly turn in to a tax nightmare. It is also possible to inadvertently become a U.S. tax resident by virtue of the substantial presence test. Simply stated, under the substantial presence test you can become a tax resident of the U.S. by spending too much time in the U.S. If this happens you could be subject to tax in the U.S. on your worldwide income as well disclosure to the U.S. of certain foreign assets.

 

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Cross-Border Estate Planning

A properly executed estate plan can protect you and your family in the event of sickness, accidents, or death. With just a little advanced planning, you can help your family avoid wasted expense and unnecessary hardship.

 

As difficult as estate planning can be, cross-border estate planning can make the process even more overwhelming if you don’t have the support of an international estate planning specialist like Esquire Group.

 

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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.

 

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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.

 

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Corporate Structuring

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.

 

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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.

 

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Transfer Pricing

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.

 

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