International Taxation - Tax Staff Essentials

Overview

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Brush up on your international tax concepts.

Whether your organization is contemplating a global move or is already involved in international business, you need to know about the activities that create multi-jurisdictional tax exposure and the required tax reporting for each relevant jurisdiction.

This course has been updated for tax reform and the impact of the Tax Cuts and Jobs Act of 2017 (TCJA).

Highlights

Key Topics

• Export income
• 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' FDII

Prerequisites

Strong knowledge of U.S. Income Taxation

Designed For

Who Will Benefit

CPA firm seniors (and above) and other tax professionals looking for the best techniques to understand international taxation

Objectives

Learning Outcomes

• Identify potential errors or omissions of information on tax returns.
• Recognize planning opportunities for your clients based upon information reported on a tax return.
• Determine the proper tax treatment for certain rental property activities.
• Identify Section 199A qualified business income deduction opportunities and the safe harbor for rental properties.
• Apply Section 199A regulations to specified service trade or business activities.
• Apply IRC regulations to losses on time share and vacation properties.
• Analyze the effect a home office deduction has on depreciation recapture.
• Determine the proper tax treatment for various start-up costs by a new business.
• Recognize the possibility that clients may not be disclosing all of their reportable income.
• Determine proper tax return reporting of a like-kind exchange transaction.