Doing business on a global scale brings added complications when it comes to taxes, financial reporting, compliance, business services and much more. We provide a full suite of international tax services to clients from all around the world, allowing them to focus on running their growing business while we establish their business in the United States.
International Tax Planning Services
We understand that navigating the United States tax code can be a daunting task, especially if you are not a native English speaker. As such, we provide a full range of tax planning, business services, and consulting services to our international clients. These services include accounting services, assist in legal compliance services through International Tax Attorneys, business structuring & formation, due diligence and much more.
When planning to expand to the United States, the first two things that an international company needs to do are set up are a business address and create an entity structure.
Finding a location for your business can be difficult, especially if you’re not physically in America. However, an official business address is a must if you plan to do business in the States. Depending on our client’s needs, we can help to secure a registered business address, whether it be a basic registered mailbox or a 4000 square foot office space.
We also assist our clients with incorporating businesses in the United States. We first identify the most optimal entity structure for their business, for example, an LLC or Corporation or Branch Office. Once we’ve identified the best entity structure for our client’s business, we then assist all of the paperwork to ensure the business is properly incorporated.
Some of the more common questions we receive from our International Tax clients are:
- What kind of entity structure should I use?
- What state should I incorporate in?
- What kind of tax liability will I have?
- Do I receive a foreign tax credit if I pay tax in a foreign country?
- What forms do I need to disclose?
- How can I open a bank account in the United States?
Our team has the experience and the qualifications to guide you through the process of forming your business in the United States so that you can operate without concern.
United States Tax Compliance
Sanjay Gupta & Associates provides a wide range of tax compliance and tax preparation services relating to international tax reporting in the United States.
These services include but are not limited to:
- Report Foreign Bank and Financial Accounts (FBAR) -Form FINCEN 114
- Foreign Asset Reporting-Form 8938
- Preparation of Application for Non-Resident- IRS ITIN Numbers
- Transition Tax Services (Section 965 Election, untaxed foreign earnings of certain specified foreign corporations as if those earnings had been repatriated to the United States)
- GILTI Tax (Global Intangible Tax)
- FIRPTA (Foreign Investment in Real Property Tax Act) compliances services and prepare multiple type of required forms such as Form 8288, 843 etc.
- Preparation of U.S. international tax forms (3520, 3520-A, 5471, 5472, 8858, 8861, 8865).
- Preparation of Foreign Corporation Tax Returns, Form 1120-F
- U.S. international tax calculations like foreign tax credits, Subpart F
- Salary and compensation planning to minimize overhead from payroll, U.S. income, and estate taxes
- Preparation of federal, state, and even local income tax returns
- Understanding tax holidays in foreign jurisdictions
- Use of tax holidays in foreign jurisdictions
When establishing a new business in the United States, one of the most important things to consider is legal compliance with both U.S. and international tax laws. Our international tax experts provide our clients with counsel on the unique tax consequences associated with their foreign investment.
When we work with clients before they’ve made their investments, we ensure the legal compliance is handled properly from start to finish. We work with them to properly structure and incorporate their business, properly report all financial information, and to minimize their associated tax obligations.
We also work as an international tax consultant to international clients once they’ve already made their investments. In these scenarios, we perform a full audit of the current business setup, and then restructure and resolve any compliance issues.
We also counsel our clients on compliance with foreign bank account reporting on FinCEN Form 114a and disclosing foreign assets on IRS Form 8938. These forms are required to be in compliance with the Foreign Account Tax Compliance Act (FATCA).
Outsourced Business Services
We also provide a wide range of outsourced business services to our international clients. This helps to alleviate some of the stresses of starting a new business and keeping things running smoothly.
Our outsourced business services include:
Our International Tax Clients
We have worked with businesses and organizations around the world to establish their place in the American market. While we are available to work with clients from just about any country, currently, the majority of our international clients are based in:
- Hong Kong
- United Kingdom
As Sanjay Gupta & Associates is an Indian-owned CPA firm, we are uniquely positioned to assist clients based in India. Multiple members of our team are fluent in a number of Indian dialects and have an intimate understanding of how businesses operate in India.
International Tax FAQs
Many of our clients come to us with common international tax questions, so we’ve compiled several of them into these helpful FAQs. If you have a question or concern that is not answered below, feel free to reach out to us at your earliest convenience.
Do I Get A Foreign Tax Credit If I Pay Tax In A Foreign Country?
Simply put, if you are based in a country that has a tax treaty with the United States, then you can receive a foreign tax credit. If you are unsure whether or not your country has a tax treaty with the United States, you can check here.
What Forms Do I Need To Disclose?
The common forms that all international businesses must disclose are Form 5471, Form 5472, Form 8261, Form 8938 and FINCEN 114. Depending on the specifics of your business and the type of business you are in, there may be other forms that are also required.
How Can I Open A Bank Account in the United States?
In order to open a bank account in the United States you will need to find someone with a US social security number. As we are limited in our ability to help you with this process, we typically advise that you reach out to friends, relatives or someone else that you trust who have already established themselves in the United States.
What Is International Taxation?
Companies that operate in multiple countries may find that they owe taxes on income in more than one jurisdiction. As tax laws are complex and change from country to country, trying to keep all of the information organized can be a real challenge. Our goal with international taxation is to minimize your overall tax liability as well as any double taxation that you may be facing,