Description
Gain a solid understanding of international tax terminology and regulations that apply to a U.S. entity involved in global operations, or for a foreign entity doing business in the United States.
Designed For
Objectives
- Identify potential errors or omissions of information on tax returns.
- Recognize planning opportunities for your clients based upon information reported on a tax return.
- Determine the proper tax treatment for certain rental property activities.
- Identify Section 199A qualified business income deduction opportunities and the safe harbor for rental properties.
- Apply Section 199A regulations to specified service trade or business activities.
- Apply IRC regulations to losses on time share and vacation properties.
- Analyze the effect a home office deduction has on depreciation recapture.
- Determine the proper tax treatment for various start-up costs by a new business.
- Recognize the possibility that clients may not be disclosing all of their reportable income.
- Determine proper tax return reporting of a like-kind exchange transaction.
Highlights
- Export income
- Receipts in foreign currency
- Allocation and apportionment of deductions
- U.S. foreign tax credit - fundamentals and special rules
- Initiation of foreign operations
- Foreign branches and affiliated companies
- Sale of use of tangible property
- Foreign business operations in the United States
- Foreign business sales of tangible property in the United States
- Foreign business provision of services in the United States
- Exploitation of business assets outside of the United States
- Use of foreign tangible/intangible property in the United States
- U.S. withholding taxes on foreign businesses' FDII