Executive Overview of Repatriation of Foreign Earnings (Topic 606)

4.7 (3)

Melisa Galasso, CPA

Galasso Learning Solutions

Monday, February 01, 2021 | 10:00 AM EST

  • AFSP
  • CMA
  • CPA
  • EA
  • Tax Pros
  • CTEC

1.5 CPE | 1 CE

$30

Subject Area

Taxes

Webinar Qualifies For

1.5 CPE credit of Taxes for all CPAs

1.5 CPE credit for Certified Management Accountants (CMA)

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

1 CE credit of Federal Tax for Maryland Tax Preparers

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

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

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Worldwide taxation? Water’s edge? Repatriation? The world changed a lot after the Tax Cuts and Jobs Act. The “deemed repatriation” provisions of the tax overhaul law present tax advisers to U.S. taxpayers engaged in foreign business and investment activities with an almost immediate compliance challenge. These deemed repatriation provisions, changes to the definition of who is a U.S. shareholder, and changes in attribution rules to determine CFC status. Tax advisers need to immediately grasp the details of the new provisions to avoid costly tax consequences for their clients engaged in cross-border activities.

In this edition of Both Sides of the Coin, we explore the new world of foreign earnings! Presenters will discuss the impact of the one-time tax on overseas earnings, the foreign tax credit, and how overseas operations will change. The webinar covers : 

  • How FASB is going to deal with the changes?
  • What is GAAP for foreign earnings in light of the TCJA?
  • Tax Implications
  • Accounting Implications

This webinar is a must-attend for Those seeking to understand how both the accounting and taxation of foreign earnings has changed in light of the Tax Cuts & Jobs Act

Learning Objectives

  • To identify the tax implications of foreign earnings repatriated into the United States
  • To identify the impact of changes to the foreign tax credit
  • To recognize the financial and tax effects of the one-time transition tax

Who Should Attend?

  • Accountant
  • Business Owner
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Accounting Practice Owners
  • Accounts Director
  • CEO
  • Accounting Managers

Testimonial

4.7

(3)
67%
33%
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VK

A good overview of ASC ( Accounting Standards Codification ) 606. It provides a base from which to continue its study & The instructor had a way to make ASC 606 understandable. She did a terrific job of keying into the problem areas of implementing. Great seminar!!