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Does Your Client Own Shares In Foreign Corporation? Impact of TJCA

4.3 (3)

Imtiaz Munshi, CPA (US)

AZSTEC LLC

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC

Published: September, 2019

1 Credit

$9

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00016-19-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0034)

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

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

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00016-19-S)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00016-19-S)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

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

Overview

  • Introduction to international taxation and Tax Cuts and Jobs Act
    6 mins
  • Context of the discussion
    8 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 SFC
    21 mins
  • Scenario 3 - Client owns 10% to 50% share in a foreign corporation i.e. an SFC & not a CFC
    23 mins
  • Scenario 4 – Client owns less than 10% share in a foreign corporation i.e. a CFC
    31 mins
  • Scenario 5 – Client owns less than 10% or more share in a foreign corporation i.e. a CFC – GILTI
    35 mins
  • Scenario 6 – Section 965 Transition Tax
    40 mins
  • Planning Opportunities
    49 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?

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

Testimonial

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