How does international tax planning differ from domestic tax planning? There are many firms which focus on domestic tax planning, far less who concentrate upon international tax planning and then there are those rare tax, legal and accounting firms which can handle both flawlessly.
The pace and scope of business has dramatically changed over the past several years. Many profitable investment opportunities involve offshore strategies. In today’s global economy many individuals, organizations and corporations require complex tax planning for both domestic and international accounts. These clients require more than off-the-shelf tax software or run-of-the-mill tax preparation or accounting services because international taxes are so complex. There are many distinct differences between taxes in this country and in other countries, and it’s important to understand these differences if you have accounts and investments which span international borders.
International vs. Domestic Tax Services
The tax, accounting and legal professionals at Allen Barron know how the myriad laws, regulation and accounting of international tax planning differ from domestic tax planning. We help to develop short and long strategies which minimize tax exposure while protecting and advancing your holdings. Domestic tax accounts may include prominent individuals, estates, multiple businesses, nonprofit organizations and many other entities. However, when individuals and organizations have multiple residences and/or locations, and companies with complex corporate structures span international borders, matters become even more complex.
What to Look for in an International Tax Attorney
The best international tax attorneys are motivated to reduce the amount of taxes their clients pay in the United States while considering the tax implications of transactions and entities around the world. Our experienced tax, legal and accounting team understand the issues which make international tax planning differ from domestic tax planning and develop a comprehensive strategy uniquely tailored to the needs of our clients and their businesses.
Hiring the right firm to handle your international and domestic taxes can be a challenging task. This isn’t simply about tax planning. International tax planning involves business structures and strategy, complex tax issues, transactional planning and accounting processes and legal work. The firm you choose should have years of experience and the ability to integrate tax and accounting issues the complex business and legal implications of international investment or commerce.
For assistance with your international and domestic tax preparation and planning, we invite you to contact Allen Barron or call 866-631-3470 to schedule a complimentary, initial consultation with one of our experienced domestic and international tax professionals.