Help eliminate the double taxation issues your individual U.S. taxpayer or U.S.-based multi-national company clients face when earning income abroad by gaining a full understanding of the foreign tax credit options available and how to file their respective forms.
This insightful two-hour CPE webinar, presented by international tax and business practitioner and teacher, Robert J. Misey, Jr., LL.M., J.D., M.B.A., will provide a practical analysis of the foreign tax credit with helpful tips on how U.S. businesses can use the credit and file Form 1116 or Form 1118 to mitigate the effects of double taxation.
Master Foreign Tax Credit Fundamentals
Mr. Misey will review the essential concepts, rules and requirements necessary to properly advise U.S. taxpayers with respect to taking a foreign tax credit. More specifically, you will learn:
- How to apply the sourcing rules so that you can maximize the foreign tax credit and minimize excess credits
- How to determine the creditability of a foreign tax
- The difference between the direct foreign tax credit and the deemed paid foreign tax credit
- The basket limitations for passive limitation income and general limitation income
- How to complete the Form 1116 and the Form 1118
This course is essential for all practitioners who deal with cross-border tax compliance and planning issues — and is especially important today as the IRS has aggressively increased scrutiny and enforcement activity in the international tax area. Professionals in public practice and in industry will benefit from this program, which will include opportunities for you to submit questions directly to Mr. Misey.
Who Should AttendBusiness tax and finance executives, directors, managers and staff; CPAs; Enrolled Agents; tax preparers and staff; accountants, attorneys and financial advisors who work with and advise businesses and individuals that have cross-border operations, activities and issues
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program PrerequisitesBasic understanding of U.S. federal taxation of international transactions and businesses.