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Self-Study Courses

International Cross Border Transactions (Currently Unavailable)

2 CPE Credits $31.00/credit hour Wednesday, September 22, 2021 · 12:00pm PT / 3:00pm ET

Join Allison McLeod, CPA, us for an introductory course in international cross border transactions. We will discuss typical situations in which a cross-border transaction arises, and how a taxpayer can utilize the rules to potentially decrease an entities effective tax rate. Other issues, such as documentation and IRS audit risk will also be covered. These rules will be illustrated by a hypothetical US-Canada transaction.

Publication Date: September 2021

Designed For
Ideal for CPAs, EAs and other tax preparers.

Topics Covered

  • U.S. Entity with Foreign Operations
  • Foreign Corporations with Us Operations
  • Royalties and License Fees
  • Minimizing Effective Tax Rate
  • Inversions
  • Cross Border Financing
  • Resolving Conflicts
  • Case Study- Caterpillar

Learning Objectives

  • Identify a cross border transaction and be able to discuss potential implications
  • Describe potential audit risks involved with cross border transactions
  • Recognize how to explain the role of competent authority, advanced pricing agreements and other alternative methods in reducing audit risk
  • Identify the types of contemporaneous documentation needed
  • Recognize and apply these principles in order to decrease and entity's effective tax rate
  • Identify under which provision dividends received from foreign subsidiaries may be deducted under
  • Identify the situation where U.S. shareholders are not taxed on a foreign corporation's earnings until repatriated as dividends to shareholders
  • Identify the U.S. source investment income withholding rate, regarding the taxation of a foreign corporation's U.S. trade or business income
  • Identify a proactive method of minimizing the effective tax rate
  • Recognize when the new §163(j) is effective for tax years begins

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

Instructor

Allison McLeod

Professor McLeod, LL.M., JD, CPA, is currently a full-time Senior Lecturer at the University of North Texas, where she has taught classes in Corporate Income Taxes, Multi-jurisdictional Taxes, Individual Taxes, Tax Research, Ethics and Financial Accounting. She has taught as an adjunct professor at the University of North Texas College of Law.

Prior to Professor McLeod going into academia, she worked for 18 years in industry and in a Big Four accounting firm. Professor McLeod earned a law degree from Baylor School of Law, and an LL.M. degree in Taxation from Southern Methodist School of Law. She has been a licensed CPA since 1993 and has been licensed to practice law since 1992. Professor McLeod has enjoyed teaching live ethics course to CPAs since 2011 and is the owner of  www.cpaethicsonline.com, which offers on-line self-study courses to CPAs. She currently serves on the Professional Ethics Committee of the Texas Society of CPAs.which offers on-line self-study courses to CPAs. She served on the Professional Ethics Committee of the Texas Society of CPAs and the AICPA CPA Exam Committee (REG).
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