International Tax Planning
Inbound and outbound asset transfers and business reorganizations
Whenever business reorganizations cross the U.S. border, careful attention to the structure and potential tax implications is essential. Special tax rules can apply to transfers of assets to entities outside of the U.S. Likewise, investment into the United States by foreign persons can have significant and sometimes surprising tax implications. Jenny will review the particulars of your business, its assets, your tax situation and your goals to help you determine the most tax-efficient and appropriate structure for your transaction.
Foreign business ventures and foreign investment
When you enter into a foreign business venture, it is important to understand the U.S. tax implications to you from doing so. There are a number of complex rules, designed to combat income tax deferral and evasion, and appropriate tax planning can avoid or mitigate potentially harsh U.S. tax ramifications from the foreign venture or investment. Jenny is familiar with these rules and can help you navigate around them.
Foreign acquisition of U.S. real estate
Special tax rules apply to the sale of U.S. real estate interests by foreign persons. These complex rules alter the otherwise beneficial U.S. tax treatment that applies to the sale of capital assets held by foreign persons. Jenny can analyze how these rules apply to your situation and can help you structure around them, where possible.
Foreign asset and financial account reporting
U.S. taxpayers are expected to report ownership of foreign financial assets. Detailed rules enumerate the assets to be reported, the type of reporting required and the penalties for not reporting them. Jenny can help determine whether your assets are subject to these reporting requirements.
Immigration tax counseling and tax planning
People immigrating into the United States (or who spend sufficient time here to become residents for tax purposes) often are unaware that acquiring U.S. residency brings all of their assets worldwide into the United States tax net. Careful tax planning in connection with the immigration can avoid unnecessary U.S. tax liability. Jenny works with people during the immigration process to ensure that no more U.S. tax is levied on their foreign assets than is absolutely necessary.
Emigration tax counseling and tax planning
The U.S. has rules designed to tax the property of U.S. citizens and long-term residents who expatriate, before such assets permanently leave the U.S. taxing jurisdiction. There are also special tax rules applicable to certain outbound business migrations. Jenny can assess whether and how these rues might apply to your emigration or business relocation and help you take steps to mitigate the impact of them.
Tax counseling for U.S. persons living abroad
Although there are treaties and tax rules to mitigate double taxation, U.S. taxpayers are generally subject to tax in the United States on all of their income worldwide. U.S. resident abroad are likely to be subject to the foreign financial reporting rules as well. Jenny counsels U.S. taxpayers who reside abroad on the tax implications of their situations and options available to them for managing their affairs in a tax-efficient manner.
Tax consultation for U.S. resident aliens
Foreign nationals taking up residence in the United States often are unaware that acquiring U.S. residency brings all of their assets worldwide into the United States tax net. Foreign nationals are also likely to have foreign financial assets subject to U.S. tax reporting requirements, with potentially significant penalties imposed for noncompliance. Jenny advises U.S. resident foreign nationals on the application of U.S. tax rules to their foreign and U.S. assets and applicable tax reporting requirements.
Tax treaty interpretation
The United States has income tax treaties designed to avoid double taxation in the context of cross-border circumstances with most countries. The provisions in these treaties can sometimes be complex, and it is important to understand how they apply and how they interact with the provisions of local law in the contracting countries. Jenny helps clients understand how an applicable treaty impacts them and their U.S. taxes, providing advice on how best to take advantage of the relevant treaty to reduce liability.
Cross-border payroll tax compliance issues
Jenny has helped bring foreign employers of U.S. taxpayers to come into compliance with U.S. payroll withholding requirements and has likewise assisted U.S. employers of foreign employees and interns in determining their withholding requirements. The rules can differ depending on the type of entity and the circumstances of the employee’s presence in country.