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Filing Form 5471 as US owner of Foreign Corporations

Filing Form 5471 as US owner of Foreign Corporations

Apr 11, 2019 | Business U.S. Expat Taxes, Personal U.S. expat taxes

U.S. citizens and residents have to file Form 5471 if they are shareholders in a foreign corporation. In addition, many categories of income would be categorized as a subpart F income and taxed currently. The Tax Cuts and Jobs Act has expanded that with the GILTI...
The reality of owning a Controlled Foreign Corporation after Trump’s tax reform

The reality of owning a Controlled Foreign Corporation after Trump’s tax reform

Apr 11, 2018 | Business U.S. Expat Taxes

Do you know that owning a Controlled Foreign Corporation got affected by New Tax Bill? In a nutshell, Trump’s tax reform now means that all income is Subpart F income. In addition, all currently untaxed retained earnings will be subject to a one-time tax. Read...

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  • Credits and deductions
  • FBAR and FATCA
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  • US expat taxes by different countries

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