Multinational companies and those considering expansion overseas face a growing number of international tax planning and compliance challenges. It can be nearly impossible to keep up with all the changing regulatory, legislative and tax requirements.
LBMC can help your company reduce your international tax burdens and fulfill financial reporting requirements. Our team of international tax experts tracks all the latest developments in the global marketplace so that we can keep you in compliance and plan strategically. Multinational businesses in real estate investment, distribution and manufacturing, technology and many other sectors can turn to our experienced team.
Supporting International Expansion
LBMC provides comprehensive international compliance and consulting services for individuals and corporations with international activities, with a focus on German-speaking countries. Our team ensures that the appropriate U.S. tax issues related to the interaction between the jurisdictions are considered.
International Tax Planning and Compliance Services include:
- Preparation of U.S. tax returns, including U.S. compliance associated with interests in foreign financial accounts, corporations, partnerships and trusts
- Compliance related to bringing taxpayers up to date with their tax filings through IRS programs
- Pre-immigration tax planning
- Capital gains tax calculations on potential disposal of assets
- Advice on the implications of expatriating (renouncing of U.S. citizenship/permanent resident status)
- Year-round assistance and tax planning guidance, including effective utilization of foreign tax credits, maximizing benefits from international tax treaties, minimizing withholding obligations, etc.
Interest Charge Domestic International Sales Corporation (IC-DISC)
An Interest Charge Domestic International Sales Corporation, or IC-DISC, provides a permanent tax savings opportunity for qualifying U.S. exporters. An IC-DISC is not a tax shelter. It’s an incentive specifically provided by the tax code that allows U.S. exporters to increase their ability to compete globally by reducing U.S. tax liabilities. It is a paper entity designed solely for the purpose of realizing export tax savings.
Benefits of an IC-DISC
- Creates permanent tax savings on the export sales commission
- Increases liquidity for shareholders or businesses
- Supplies ongoing financing to reduce cost of capital
- Creates a tax-advantaged vehicle for succession or estate planning
- Eliminates double taxation for C-Corporations and defers taxes
LBMC’s approach is designed to minimize the filing and maintenance burdens for our clients while maximizing commissions and tax savings. Our IC-DISC team evaluates all commission alternatives on an annual basis, including performing a detailed transaction-by-transaction analysis. Choosing the optimal methodology and performing a detailed annual analysis will ensure maximum savings.
We Speak Your Language
For foreign-based businesses, we know how frustrating and inefficient it can be when your local business advisors don’t speak your language or understand your culture. Interacting with foreign parent companies and their external auditors requires extensive knowledge of international accounting and auditing standards, as well as cultural sensitivity.
LBMC’s resources offer international accounting experience and with backgrounds in Big Four accounting firms and multinational corporations. For US-based companies expanding into overseas markets, this experience means that we can help you navigate complex regulatory requirements and subtle cultural norms with finesse.
LBMC leverages our expertise through collaboration with members of LEA Global, a worldwide association of independent accounting firms that are in more than 100 countries across the globe. LEA Global provides you with the extra edge you need to compete successfully in a dynamic international arena.