DOES YOUR CLIENT OWN SHARES IN FOREIGN CORPORATION? IMPACT OF TJCA

4.6 (90)

Imtiaz Munshi, CPA

AZSTEC LLC

  • CPA
  • EA
  • CTEC
  • TAX PROS
  • PFS
  • AFSP

Credits: 1 CPE | 1 CE

$9

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CPD credit (Verifiable) of Personal Financial Planning Process for PFSs

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Federal Tax for Oregon Tax Preparers

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Before starting this self study program, please go through the instructional document.

Overview

  • Introduction to international taxation and Tax Cuts and Jobs Act6 mins
  • Context of the discussion8 mins
  • What is required for a CPA to gather from his client?9 mins
  • What a CPA must determine?12 mins
  • Scenario 1 – Client owns less than 10% share in a foreign corporation.19 mins
  • Scenario 2 - Client owns 10% to 50% share in a foreign corporation i.e. not a CFC & not a SFC21 mins
  • Scenario 3 - Client owns 10% to 50% share in a foreign corporation i.e. an SFC & not a CFC23 mins
  • Scenario 4 – Client owns less than 10% share in a foreign corporation i.e. a CFC31 mins
  • Scenario 5 – Client owns less than 10% or more share in a foreign corporation i.e. a CFC – GILTI35 mins
  • Scenario 6 – Section 965 Transition Tax40 mins
  • Planning Opportunities49 mins

Course Description

The Tax Cuts and Jobs Act represents the largest change in tax law since the big Tax Reform Act of 1986. The Tax Cuts And Jobs Act of 2017 made fundamental changes to the international tax regime. This has presented a challenge to tax practitioners who have clients that own shares in private businesses abroad. The new law presents great planning opportunities and also contains serious pitfalls. This course will provide basic knowledge that will alert attendees on what to focus on when serving clients with ownership in foreign corporations.

Highlights of the webinar : 

  • The old and new rules on how US corporations operating abroad are taxed
  • What the new Tax Cuts and Jobs Act (TCJA) of 2017 changed regarding US multinationals
  • The international tax rules that affect all companies, including the new base erosion provisions of the TCJA
  • How US tax rules affect foreign investors and the impact of various tax treaties

Learning Objectives

  • To identify the basic changes made by the 2017 TCJA to the international tax regime
  • To recognized what questions to ask clients who own shares in foreign corporations
  • To understand the difference in tax impact on US corporations vs individuals
  • To recognize planning opportunities when advising clients on structuring

Who Should Attend?

  • Enrolled Agent
  • Finance Pros
  • Tax Attorney
  • Accountant
  • CFO/Controller
  • CPA - Large Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Auditors
  • Tax Firm

Testimonial

4.6

(90)
71%
24%
3%
0%
1%

DG

Impeccable as usual. Articulate and easy to follow speaker. Catch subject matter was timely and relevant and never got bored because the speaker kept a very good flow. Well-organized presentation. The moderator provided an excellent support.

JQ

Excellent Job. In my opinion the class was very instructive. I learned new thing about structuring and international tax, including non resident alien etc. The speakers engaging style was impressive.

QL

I did enjoy the session, it kept me on my toes. The speaker was very knowledgeable and passionate about the subject matter which may have impacted our timeline. I loved the different scenario shared during the webinar. It added the value for me.

MH

"What a complex subject, but very well explained by the instructor. It made me think about possible implications for unsuspecting foreign investors. Speaker has prepared a fantastic presentation. It has all the things that are required to understand the changes brought by TJCA.

MC

Very informative and helpful. I fully enjoyed the session. It was very informative and I have registered for the self study program to listen the audio again! I have also downloaded the slides as a keepsake.

SS

Great presentation! Full of useful information. The webinar was interesting and informative. It was well paced. Big thanks for sharing your knowledge. It had everything to keep me engaged.