Tag Archives: foreign finance company

Hidden Tax Savings in Preparing Form 5471 for the Controlled Foreign Corporation

Form 5471 is full of international tax planning and tax savings.  As you prepare Form 5471, carefully look at the instructions.  They hint at the hidden tax savings. (If this is the first year or a late filing, then please see this link.)

 It is here, hidden in the fine but dull print, that you will find your tax savings.  For example, does your tax preparer know that an offshore corporation acting as a finance company can avoid U.S. taxes?  

Or that a foreign contract manufacturer related party sales are tax-free?

My video below is from an international tax class that I gave to the California Society of CPAs.  If you want to start to save taxes while preparing your Form 5471, then call me, Brian Dooley, CPA, MBT at 949-939-3414.