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October 2017 International Tax Lunch: Dual Status Returns

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December 22, 2017 - Rachel Allen

October 2017 International Tax Lunch: Dual Status Returns

Dual Status Returns: What They Are, How They Work, How to Prepare Them

When someone becomes a U.S. person for tax purposes mid-year or ceases to be a U.S. person for tax purposes mid-year, they may be eligible to file a dual-status return. A dual-status return reports income for part of the year as a resident and part of the year as a nonresident. Learn how to identify the transition date; how income, exemptions, deductions and credits work on dual-status returns; how the foreign earned income exclusion can be applied; and how to prepare a dual-status return.

Presenter: Debra Rudd

Materials: Dropbox

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September 21, 2017 - Rachel Allen

September 2017 International Tax Lunch: Foreign Grantor Trusts

Foreign Grantor Trusts: When to Use Them and How To Do the Tax Compliance

Trusts are great for transferring wealth from one generation to the next. But when that transfer is from a nonresident to a U.S. resident, there are a number of competing factors for how to make that transfer happen. This session talks about classic foreign parent/U.S. child estate planning for foreign assets, using foreign grantor trusts for income tax and estate tax efficiency. Also, cover the tax compliance required during the parents’ lifetimes and after they die.

Presenter: Phil Hodgen

Materials: Dropbox

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September 7, 2017 - Rachel Allen

August 2017 International Tax Lunch: Claiming Foreign Tax Credit with a Hybrid Entity

Claiming Foreign Tax Credit with a Hybrid Entity

The U.S. and foreign countries do not require consistent treatment of business entities: there can be an entity whose income is passed to the owners in a foreign country and is taxed to the entity in the U.S. These types of hybrid entities provide tax planning opportunities for the business owners.

Presenter: Haoshen Zhong

Materials: Dropbox

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July 24, 2017 - Rachel Allen

July 2017 International Tax Lunch: Form 8621: Mark-to-Market and QEF Basics

Form 8621: Mark-to-Market and QEF Basics

Passive foreign investment companies (PFICs) have a notoriously punitive tax treatment. Fortunately, there are two different elections that may be made to reduce tax. Learn how the Mark-to-Market and QEF elections can provide a better tax result than the default treatment, when those elections may be used and how to perform the necessary calculations and prepare Form 8621.

Presenter: Debra Rudd

Materials: Dropbox

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May 26, 2017 - Rachel Allen

May 2017 International Tax Lunch: Foreign Corporation Investing in U.S. Real Estate Through a LLC

Foreign Corporation Investing in U.S. Real Estate Through a LLC

A foreign corporation may wish to invest in U.S. real property. A common holding structure is to have the foreign corporation organize a U.S. limited liability company, then use the LLC to acquire the property without electing to treat the LLC as a corporation. Learn how the U.S. taxes the foreign corporation’s rental income and gains from the sale of the U.S. real estate.

Presenter: Haoshen Zhong

Materials: Dropbox

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