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Financial Planning Opportunities For Individuals and Selected Corporate Tax Matters 2010 and 2011 Considerations - Part 4

Table of Contents 

International Tax Planning Considerations

International Individual Tax Considerations

  • U.S-Foreign Jurisdiction: Pre-departure and pre-entry planning critical
  • Expatriate income tax issues
    • Foreign earned income exclusion and housing allowance (tax minimization strategy)
    • Foreign tax credit
  • Foreign assignment pre-departure planning – What to Consider
    • Short Term versus long term assignments and treaty Relief
    • Equalization versus tax protection policies, tax withholding requirements
    • Foreign currency protection
  • Social Security tax minimization planning
    • Practical observations regarding U.S. and foreign country treaty developments and key cross-border legislative developments
    • Residency
    • Treaty Protocols
    • Income sourcing, especially equity compensation
    • Inheritance tax
    • Foreign Investments reporting and IRS Treasury Initiatives
  • (FBAR and Voluntary Disclosures, Form 5471, Foreign bank account withholding)

Concluding Comments

  • What’s important to you and what are your facts ?
  • Income tax minimization
  • Asset protection and risk management
  • Estate and gift tax minimization and wealth transfer
  • Prospectively, periodically review your balance and asset accumulation forecast
    • Why ?
      • Balance sheet
      • Births, deaths, marriages, divorce
      • Change in tax laws or residency or jurisdictions
      • Review will and life insurance at least every 3 years
  • Is legal ownership of your assets consistent with your overall plan?
  • Are beneficiary designations consistent with your transfer objectives?

Polling Question Have you elected bonus depreciation in the past?

  • Yes
  • No

Next > Corporate Tax Provisions

The material contained in this presentation is for general information and should not be acted upon without prior professional consultation. 

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