Foreign Entity Classification For The Growing Business 1.5 Credits 1.5 Credits
Learning mode
Tax advisers often overlook the classification of foreign business interests owned by U.S. individuals for U.S. tax purposes. U.S. tax counsel must recognize that the IRC, not the situs country's laws, determines how to classify a U.S. taxpayer's foreign business holding. Foreign entities are subjected to United States income tax requirements when their income is effectively connected to the United States. Such entities can create tax and reporting requirements for U.S.-based stakeholders as well.
Critically, the United States maintains its own distinct rules for classification of foreign entities and those rules are in no way impacted by how the entity is taxed in its home jurisdiction! In identifying the proper tax classification of a foreign business holding, advisers first must determine whether the business organization qualifies as a taxable entity separate from its owner(s), and if so, whether the entity is appropriately considered a trust or a business organization under U.S. tax law.
Join this webinar for an in-depth discussion of the relevant considerations in this context, including tax ramifications for foreign trusts, foreign corporations, and foreign pass-through entities. Listen as our expert panelist provides a thorough and practical guide to the tax and operational impacts of entity classification of foreign interests owned by U.S. taxpayers.
| License details | Credits | Status |
|---|---|---|
| Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Enrolled Agents (EA) | 1.5 CE | Approved |
| Certified Wealth Strategist (CWS) | 1.5 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1.5 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Enrolled Agents (EA) | 1.5 CE | Approved |
| Certified Wealth Strategist (CWS) | 1.5 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1.5 CE | Eligible |
Credits
1.5
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
Patrick is a partner with Culhane Meadows, a national law firm with a prominent practice in the international area. Patrick practices exclusively in the area of international taxation. He has extensive experience in handling complex tax planning, structuring, and compliance issues for foreign businesses with United States operations, United States businesses with foreign operations, and individual taxpayers with international ties. Patrick regularly works with advisors both in the United States and abroad to assist with international tax issues faced by their clients.
Patrick is a prolific contributor to a multitude of international tax journals, including Tax Notes and the Journal Of International Taxation, . He is an active speaker and panelist for national seminars and webinars, including regularly scheduled presentations with CPA Academy on assorted international tax topics. Patrick holds a Juris Doctorate from Vanderbilt University Law School and a LL.M. from New York University School of Law. His bar admissions include Pennsylvania, Florida, New Jersey and Georgia.
Each year from 2016-2019, Patrick has been recognized by Super Lawyers as a Rising Star. Finance Monthly, a United Kingdom-based publication, named Patrick Estate Planning Lawyer of the Year (United States) for both 2017 and 2018. Patrick and his wife reside in Phoenixville, PA.
What is Self Study (QAS)?
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How do I earn credits through live webinars?
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Are the live webinars approved by NASBA and other regulatory bodies?
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What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
JL
Best and Most Informative webinar so far and the speaker was highly specialized
AT
very good 5 stars.
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