International Tax Services
We Have the Knowledge and Insight to Handle Your International Taxes
In today’s Global economy, as businesses are expanding their footprints into other countries. International tax and its reporting obligations have become increasingly more frequent in today’s business world and at the same time becoming more complex. This means navigating a complicated web of cultures, foreign governments, and foreign tax treaties and accounting issues.
Our international tax professionals at Rubino have worked with for-profit and nonprofit groups to plan for taxes abroad and their impact on the entity’s financial goals. We have helped clients navigate complex rules relating to residency, foreign earned income, foreign tax credits etc., and its tax reporting.
Our team works closely with you to identify and analyze the areas for potential tax savings and to develop tax strategies accordingly. Whether it’s tax services for businesses or individuals, engaging with Rubino means a proactive approach to understanding the tax issues faced and providing comprehensive tax services that includes tax compliance and consulting services.
Do you know if international taxes apply to you? We have the experience and knowledge to help you navigate through the complexities of international tax obligations.
Rubino is a trusted partner. Our clients trust us as being a valuable resource to help them achieve their financial goals by providing tailored tax solutions and being a reliable tax partner.
We are uniquely equipped to answer your questions about a broad range of topics, including:
- American Citizens/residents living abroad
- Non-resident tax consulting and planning
- Foreign earned income exclusion
- Foreign tax credits
- Foreign asset reporting, FBAR and other related services
- Global Intangible Low-Taxed Income (GILTI) calculations
- Foreign inheritance and gift taxes
- Foreign business ownership
- Tax reporting of foreign rental property
- Analysis and Interpretation of US Income Tax Treaties and totalization agreements.
A Commitment to Client Success
The Rubino Advantage
Our many years of international tax experience mean our dedicated team of experts understands the tax challenges every taxpayer faces when conducting international business. We will help you develop the best tax strategy to mitigate your liability and maximize your after-tax income.
We are focused on helping our clients, employees, and community succeed. Everything we do is focused on building relationships and adding value to every engagement. When your business is subject to international taxes, the best resource is a trusted tax professional.
We offer our clients a unified resource to help them reach their goals. This includes managing international revenues and mitigating tax liabilities from any number of foreign sources. Our tax advisory and preparation services are critical in helping our clients succeed.
We combine all of our unique advantages for the singular goal of delivering dependable and reliable tax and financial services to our clients. Our goal is to ensure that your organization is compliant with federal and state taxation as well as host country regulations.
Built on a Foundation of Unity
Rubino is a modern accounting and financial services firm, and nowhere else is this more evident than in our dedication to promoting diversity and inclusion. Learn more about how we focus on solving challenges, promoting success, and creating a modern workplace.
Frequently Asked Questions (FAQs) For International Tax Services
Answer: International tax compliance refers to the adherence to tax laws and regulations by individuals and multinational businesses in the countries in which they operate, have income, own assets, or have tax obligations.
Answer: Yes, U.S. citizens and Green Card holders must file a U.S. tax return regardless of where they live. The U.S. taxes its citizens on their worldwide income.
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Foreign income earned by U.S. taxpayers is subject to U.S. taxation. However, taxpayers may be able to reduce their U.S. tax liability through the Foreign Tax Credit (FTC) or Foreign Earned Income Exclusion (FEIE).
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The FEIE allows U.S. citizens and residents living abroad to exclude a certain amount of their foreign-earned income from U.S. taxes, provided they meet certain requirements.
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Businesses can mitigate their risks and financial burdens associated with international operations by leveraging tax treaties to prevent double taxation, claiming foreign tax credits, using international tax structures, and optimizing transfer pricing policies while ensuring compliance with global tax regulations.
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Transfer pricing regulations govern transactions between related entities of multinational companies to ensure that they are conducted at arm’s length and that profits are properly allocated. These regulations aim to prevent profit shifting and tax avoidance.
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There are myriads of foreign reporting and/or disclosure forms to report on when US taxpayers have interest in foreign assets or accounts. Depending on the type of foreign asset and ownership interest there may be filing requirement as described below.
- FBAR (Foreign Bank Account Report): A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FinCEN Report 114, FBAR, if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.
- Form 8938 (Statement of Specified Foreign Financial Assets): This form must be filed if you own foreign financial assets exceeding certain thresholds. The thresholds vary based on your filing status and whether you live in the U.S. or outside.
It’s important to note that you may need to file both forms depending on your specific situation.
- Other forms and reporting requirements: U.S. taxpayers with ownership/interest in foreign corporations, partnerships, or trusts, including family-owned businesses, and/or having foreign investments, like mutual funds personal retirement accounts, insurance policies and pension accounts, are subject to additional reporting obligations on their U.S. tax returns.
These may include reporting and filing Form 5471 for ownership in foreign corporations or Form 3520 for foreign trust interests.
For a complete list of International Tax Services FAQs, please click here.
