BeachFleischman CPAs is an Arizona-based firm. We can serve clients remotely throughout Colorado and we're ready to assist you in your international tax needs. The international tax environment is an area of continued scrutiny and focus by the taxing authorities. From a tax compliance standpoint, there are many different forms that apply when doing business or investing abroad. These compliance requirements apply to both U.S. entities and U.S. individual taxpayers and failure to comply may result in substantial penalties. There are different rules with regards to recognizing income from foreign activities. Care should be taken with structuring transactions to ensure such is done so in the most tax-efficient manner and maximizing foreign tax credits.
Inbound and Outbound Activities
Outbound international activities:
- U.S. corporations expanding operations overseas, via a foreign subsidiary or branch.
- U.S. individuals doing business or investing abroad
- Outbound cross-border transactions; income tax treaty interpretation.
Inbound international activities:
- Foreigners coming to the U.S. to invest in U.S. businesses, U.S. real estate, or U.S. securities.
- Foreign corporations coming to the U.S. to expand operations, via U.S. subsidiary or branch to the foreign entity.
How we help
- Assisting clients with structuring cross-border transactions in the most tax-efficient manner.
- Addressing the complexities with the different tax forms that are to be filed when doing business abroad or when certain assets are held abroad.
- Assist foreigners that come to the U.S. to conduct business or invest in U.S. assets.
Colorado Exports, Jobs, and Foreign Investment
Colorado's Top 5 Export Markets
Colorado Depends on World Markets
Exports from Colorado helped contribute to the $2.33 trillion of U.S. goods and services exports in 2017.
Jobs supported by Colorado goods exports
Exports Support Jobs
40,421 U.S. jobs were supported by goods exports from Colorado in 2016. 89% of these jobs were supported by manufactured goods exports.
Colorado Employment in Foreign-Owned Companies
Foreign Investment & Jobs in Colorado
In 2014, foreign-owned companies employed 90,800 Colorado workers.
Source: Office of Trade and Economic Analysis, International Trade Administration, U.S. Department of Commerce.
Colorado's Metropolitan Exports
Denver-Aurora-Lakewood is the 67th largest metro area reporting exports nationwide.
|Metro Area||2016 Goods Export Value||Share of State Exports|
|Fort Collins||$994 million||11.4%|
|Colorado Springs||$787 million||9.0%|
|Grand Junction||$86 million||1.0%|
Our International Tax Services
International Tax Structuring
We team up with foreign attorneys and accountants to come up with the best possible structure considering tax issues in both countries. In Mexico, we have an extensive network of legal and accounting contacts in different parts of the country with different areas of expertise, aside from LEA.
Passive Foreign Investment Company (PFIC)
A foreign corporation will fall under the Passive Foreign Investment Company rules if it meets either the Income test or the Asset Test. Due to these definitions, almost every foreign mutual fund will meet these requirements and will fall under the Passive Foreign Investment Company regime. When opening foreign securities accounts, it's important to know what type of investments will be made and whether they may be considered PFICs.
Foreign Bank Account Reporting (FBAR)
This is an area that can be fairly complex if U.S. taxpayers have financial accounts in foreign countries that are not the typical bank accounts. These requirements also extend to majority owners of U.S. entities that have signature authority or ownership of foreign accounts.
Now that there is certainty as to the preferential taxation of qualified dividends, IC-DISC continues to be a great incentive for U.S. companies with significant export activity.
Mexico/U.S. Cross-Border Tax
We work with many U.S. companies and individuals that do business overseas, primarily Mexico and other Latin American countries. We team up with advisors in the foreign countries to provide the best possible support. We represent many Mexican families doing business in the U.S., many which include family members that are dual citizens of the U.S. and Mexico, that are obligated to fully comply with tax obligations that apply to residents of both countries.
Voluntary Disclosure Initiative
We assist U.S. citizens that have not been in full compliance with reporting offshore activity and have experience in getting them through the VDI program.
Foreign Interest in Real Property Tax Act (FIRPTA)
We have extensive knowledge in navigating the requirements FIRPTA. Our international tax team has helped foreign investors with countless transactions subject to FIRPTA for sales of real estate both in Colorado and nationally.
Who are we?
BeachFleischman PLLC was formed in 1990, and has grown to be one of the largest locally-owned CPA firms in Arizona and a "Top 200" largest CPA firm in the United States. The firm serves private enterprises, not-for-profit organizations, and entrepreneurs in the U.S., Mexico, and Canada, and provides a wide range of accounting, assurance, tax, and advisory services.
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Serving Clients Remotely
Through our cloud-based technology, BeachFleischman serves clients throughout the United States and internationally. Our ShareFile client portal allows for secure file transfer and collaboration. With Skype for Business, we have video conferencing and desktop sharing capabilities. We offer QuickBooks Online for clients who want a convenient remote access option. We also use SafeSend, which is an electronic system that automates the assembly, delivery, tracking, and receipt of tax returns.
BeachFleischman CPAs is an Arizona-based firm providing international tax services remotely to individuals and businesses in Denver and Colorado Springs, Colorado (CO) and throughout the United States. If you are interested in learning more about how BeachFleischman's tax professionals can assist you, please fill out the submission form below and you will receive a prompt response.