Before starting this self study progarm, please go through the Instructional Document.
DownloadCourse Details
Overview of Topics
- Introduction to the subject4 mins
- Non-Resident Aliens – Income Tax, ECI, FIRPTA, FDAP Income, Income Tax Treaties, Transfer Taxes7 mins
- US Taxpayers – Income Tax, Transfer Tax,31 mins
- US Taxpayers vs. Nonresident Aliens – Income Tax, Transfer Tax42 mins
- Income Tax Planning Opportunities in the Pre-immigration Context54 mins
- Transfer Tax Planning Opportunities in the Pre-immigration Context70 mins
Course Description
This webinar will provide tax advisers with a practical guide to planning tools and techniques for clients who are nonresident aliens contemplating residency/citizenship changes which will render them United States taxpayers. The seminar will discuss differences in tax scope between nonresident aliens and United States taxpayers, both for income tax and estate/gift tax purposes. The seminar will then detail strategies for minimizing income and transfer tax post-residency, including basis strategies for non-U.S. situs assets, structuring “drop-off” trusts, and planning for the possibility of the nonresident alien’s return to the country of origin.
Learning objectives
- Differences in tax scope between nonresident aliens and United States taxpayers
- Practical guide to planning tools and techniques for clients who are nonresident aliens contemplating residency/citizenship changes
About Presenter
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.
Culhane Meadows is proudly shaking up the legal marketplace by offering exceptional, yet highly-efficient and cost-effective, client services provided exclusively by partner-level attorneys with substantial experience from large law firms or in-house legal departments of respected corporations.
Review Questions
- Question 1 : 00:17
- Question 2 : 00:32
- Question 3 : 00:48
- Question 4 : 00:57
- Question 5 : 01:05
- Under default rules nonresident aliens are generally subject to United States tax on which one of the following?
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- According to the detailed sourcing rules for the income earned by nonresident aliens, which one of the following is true?
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- On account of which of the following, nonresident aliens have a narrower scope for income tax purpose as compared to the residents or citizen?
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- Which one of the following is an exception to the rule: Foreign-domiciled entities generally are able to elect their entity classification for United States Tax purposes.
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- HNIs benefit from income acceleration. Such gains become part of their taxable income. The current lifetime exclusion according to the speaker is
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- Generally, NRAs are subject to United States tax only on income items sourced to the ___________.
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- According to the undefined term trade or business which of the following characteristics are important for the activities conducted in the United States?
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- Other than FIRPTA, the nonresident aliens generally are not subject to _______ tax on the United States sourced income.
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- The nonresident aliens are subject to ___% of gift tax for the intangible properties received as a gift.
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- Which of the following is true?
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- Which of the following exception needs to be kept in mind while considering gifts to family members for the US tax for the pre-immigration tax planning?
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- Which of the following type of trusts are good options for the transfer tax planning for the pre-immigration?
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- Why private placement life insurance is especially appealing for the transfer tax planning in the preimmigration context?
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FAQ
- myCPE self-study courses are online.
- The self-study format allows you to access the material online 24/7 and study at your own pace.
- As per NASBA guidelines, you have one year from date of registration to complete each program.
- Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
- Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
- Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
- These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
- For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
- Please email to help@my-cpe.com in case of any self study program queries.
Reviews
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LLLinda Lee , CPAJul 2nd 2019Patrick spoke in a fluent manner and presented at a reasonable pace. The presentation materials were easy to read and understand. It was an informative webinar for tax planning strategies.
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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
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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 maintenance 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
CTEC Approved
MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
On-Demand Webinars
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/RegisterPRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/RegisterARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/RegisterIRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/RegisterFEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/RegisterMAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/Register
- Cost $14
- CPE Credits 1.5
- CE Credits 1
- IRS Course ID GEHNZ-T-00007-19-S
- CTEC Course ID 6273-CE-0037
- Subject Area Taxes
- Course Level Basic
- Instructional Method QAS Self Study
- Prerequisites None
- Advanced Preparation None
- Recorded Date September 13 ,2019
- Published Date September 13 ,2019
- Who should attend? Enrolled Agent Finance Pros Tax Attorney Tax Practitioners CFO/Controller Tax Pros Auditors Tax Firm
- Handout Material Download
- Key Terms Download
On-Demand Webinars
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/RegisterPRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/RegisterARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/RegisterIRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/RegisterFEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/RegisterMAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/RegisterPay Invoice
Registration Payment
