Explore competitive advantages for your internationally active company through well-planned, cross-border international tax solutions that will positively impact your bottom line.
EXPERT ADVICE FROM INTERNATIONAL TAX CONSULTANTSAs if keeping up with domestic taxes wasn’t challenging enough, businesses that have international operations are subject to another level of tax complexities. Compliance with international tax rules requires extensive tax knowledge and only well-planned international tax strategies can deliver favorable results for your business. Whether your business is domestic or foreign, or large or small, Sikich’s approach is to design an international tax strategy that will be tailor-made to meet the specific needs of your business, integrating both U.S. and foreign tax analysis. We’ll keep you current on international tax developments that are pertinent to your business, and will reach out to you in a timely manner if changes in foreign or U.S. international tax rules warrant revisions to your ongoing tax reporting and forward-looking strategies. From inbound and outbound tax planning to cross-border tax advisory and International Financial Reporting Standards, Sikich has the experience, expertise and solutions for your international tax needs.
Reduce your federal tax burden by taking full advantage of tax deductions, credits, and planning strategies.
Manage state and local tax challenges by working with a tax professional who monitors laws and regulations that affect you.
Meet your short- and long-term objectives with a comprehensive financial plan designed just for you.
Understanding what credits are available and what it takes to qualify can ease your tax burden and help with your company’s cash-flow.
INTERNATIONAL TAX SOLUTIONS AND STRATEGIES
There are a number of federal tax planning strategies that can help minimize your tax burden, but they may not all work for you or your business. Sikich’s business tax consultants can help you understand not only how federal taxation impacts your business but also how proven strategies can maximize your short and long-term tax savings. Some of the federal tax services we offer include:
For foreign taxpayers that are investing into the U.S. market, Sikich’s tax advisors will review the foreign ownership structure, the type of cross-border transactions and foreign owners’ investment goals. Our tax professionals will provide the following services:
- Recommend the proper type of U.S. entity to fit the business goals
- Prepare the U.S. forms necessary to comply with U.S. tax reporting requirements
- Assist with the preparation of the transfer pricing documentation
- Ensure, when it is time to distribute dividends, that the distributions are made in a tax-efficient manner, taking advantage of the beneficial tax rates of applicable double tax treaties
- When applicable, prepare inbound activities guidelines to minimize the risks of creating a taxable U.S. PE
U.S. taxpayers that are expanding business operations outside of the United States can look to Sikich for help. Our tax professionals will evaluate your business model, existing financial position and goals going forward. Sikich’s tax advisors will provide the following services and solutions:
- Optimize the usage of foreign tax credits to minimize or eliminate double taxation
- Advise on the U.S. tax consequences of conducting overseas business in a foreign currency
- Assist U.S. shareholders who invest in controlled foreign corporations (CFCs) with structuring cross-border transactions in a manner that reduces the impact of the anti-deferral rules designed to accelerate the U.S. recognition of income earned overseas by the CFCs
- Evaluate the availability and benefits of an Interest-Charge Domestic International Sales Corporation (IC-DISC)
- Determine the proper allocation of income and expenses in intercompany transactions with foreign affiliates pursuant to the transfer pricing rules and assist with the preparation of the transfer pricing documentation
- Utilize the tax treaty network among the U.S. and other foreign countries to minimize withholding tax rates on investment income and reduce the risks of creating taxable foreign permanent establishments (PEs)
- Prepare proper documentation necessary to report foreign activities on US tax returns
- Recommend the proper form of foreign entity to meet business and investment goals
- Design the most tax-advantageous forms of acquisition, disposition or reorganization of foreign operations from both the U.S. and foreign tax perspectives
Sikich can assist companies with navigating through the myriad of tax planning and compliance matters related to international assignments for both U.S. employees heading overseas and foreign employees heading to the U.S.
- For U.S. employees working overseas, Sikich can assess the availability of the Foreign Earned Income Exclusion under IRC §911 (“Exclusion”) and the claiming of Foreign Tax Credits under IRC §901 (“FTCs”), as well as the interaction of these two areas. Sikich can determine the best tax result for each employee and prepare U.S. and state income tax returns, as needed
- Sikich can assess the U.S. and state tax residency status for foreign employees working in the U.S. and advise on the all-important pre-assignment planning matters involved. Sikich can prepare U.S. and state tax income tax returns, as needed, for foreign employees including Forms 1040, 1040DS and 1040NR, as applicable, address all required U.S. information reporting requirements, treaty-based return positions and other complications, as needed
In order to bring you the most relevant information for your business, Sikich is affiliated with PrimeGlobal. PrimeGlobal is the fourth largest association of independent accounting firms in the world, providing a wide range of tools and resources to help member firms furnish superior accounting, auditing, and management services to clients around the globe.