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U.S. shareholders of foreign corporations have a new pass-through income category to contend with: GILTI. Except for capital-intensive companies, this has the effect of making foreign operating income immediately taxable to U.S. shareholders.
This session explores the new rules. What is GILTI? How will it affect U.S. shareholders? What countermeasures are available?
Presenter: Phil Hodgen
Materials: Dropbox
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When a U.S. beneficiary receives a distribution from a foreign trust, the way the distribution is taxed depends on whether the trustee gives the beneficiary the right paperwork. This presentation looks at the all-too-common scenario where a trustee does not provide the necessary paperwork to prevent bad tax results. Learn how to calculate the accumulation distribution under the default rules, how to compute the tax to the beneficiary, and how to prepare the tax forms to report the distribution.
Presenter: Debra Rudd
Materials: Dropbox
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Many nonresidents hold U.S. real estate through a foreign corporation. In this overview level presentation, learn the withholding requirements, what tax forms to file, and when to file them for each stage of real estate ownership—purchase, rental, disposition—through a foreign corporation.
Presenter: William Shiraga
Materials: Dropbox
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The Foreign Earned Income Exclusion and related housing deduction/exclusion are a way for Americans abroad to reduce or eliminate their U.S. tax liabilities. But qualifying is complex and understanding exclusions is often unclear. Learn what exclusions are permitted and preparation of Form 2555.
Presenter: Phil Hodgen
Materials: Dropbox
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Foreign owners of domestic corporations and foreign corporations engaged in U.S. trade or business may need to file Form 5472. Complex attribution rules make identification of reporting requirements difficult. Learn when Form 5472 is required, the types of attribution rules that apply, and major issues to report.
Presenter: Debra Rudd
Materials: Dropbox
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