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U.S. Tax Planning for Foreign Nationals: Sourcing of Income, Exemptions, Tax Treaties, and Pitfalls to Avoid

Recording of a 90-minute premium CLE/CPE video webinar with Q&A

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Conducted on Tuesday, December 3, 2024

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will provide tax professionals guidance on key U.S. tax planning strategies available to foreign nationals and pitfalls to avoid. The panel will discuss key considerations for resident and nonresident aliens for U.S. tax purposes, sourcing of income and challenges that disrupt tax planning, available exemptions and the use of tax treaties, and U.S. tax planning tips for foreign nationals.

Description

There are many foreign nationals who own property, earn income, or receive dividends stemming from their activities in the United States. These foreign nationals are subject to a variety of U.S. tax rules which require effective planning to minimize or avoid adverse tax implications. Tax professionals must navigate complex U.S. tax rules applicable to these foreign nationals and conduct a careful analysis to determine their taxpayer status, connection to the U.S., and approaches to reduce their tax liability.

A foreign national can be subject to different U.S. tax regimes depending on whether they are classified as a resident or a nonresident alien. While being classified as a nonresident alien of the U.S. provides distinct tax advantages, being classified as a resident alien may provide better tax benefits under certain circumstances. It's imperative that potential tax liability and available tax planning options be considered on an annual basis.

In addition, tax professionals must consider a variety of issues in order to implement adequate planning for foreign nationals subject to U.S. taxation, such as the timing of income recognition, tax basis of assets for U.S. tax purposes, unrealized appreciation or loss, and other key issues. Tax treaties, deductions, credits, and other options may be available to reduce or eliminate the applicable tax rates or liability.

Listen as our panel discusses key considerations for resident and nonresident aliens for U.S. tax purposes, sourcing of income and challenges that disrupt tax planning, available exemptions and the use of tax treaties, and U.S. tax planning tips for foreign nationals.

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Outline

  1. Rules and regulations regarding foreign nationals and U.S. income tax system
  2. Determining taxpayer status, filing, and reporting requirements
  3. Income sourcing and classification
  4. Tax treaties and reducing or eliminating U.S. tax on income
  5. Best practices for compliance and tax planning techniques for foreign nationals

Benefits

The panel will review these and other high priority issues:

  • U.S. tax rules and regulations applicable to foreign nationals
  • Determining resident and nonresident alien status
  • Differences in U.S. tax systems and reporting for resident versus nonresident aliens
  • The effect of tax treaties the U.S. has with other countries
  • U.S. tax planning techniques for foreign nationals and pitfalls to avoid

Faculty

Dana, Michael
Michael Dana

Partner
Husch Blackwell

Mr. Dana provides tax and corporate law advice to businesses at all phases of operation, from initial business...  |  Read More

Diosdi, Anthony
Anthony V. Diosdi

Partner
Diosdi & Liu

Mr. Diosdi is an experienced trial lawyer who regularly defends individuals and corporations in matters involving tax...  |  Read More

Kennedy-C. Edward
C. Edward (Ed) Kennedy, Jr., CPA, JD

Managing Director
C Edward Kennedy Jr

Mr. Kennedy has more than 42 years of experience dealing with a variety of international tax matters, specializing...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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