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International Tax Accountant in Los Angeles

The international tax accountant in Los Angeles, San Francisco and Orange County must be experts for both the Asian community and the European community.

  1. Most  international tax accountant in Los Angeles specialize in either European tax planning or Asian tax planning.  European tax planning involves:
    1. income tax treaties,
    2. estate tax treaties,
    3. gift tax treaties,
    4. social security tax treaties, and
    5. friendship, navigation and commerce treaties.   

Asian countries do not have similar tax treaties.  While China and the United States do have an income tax treaty, the treaty is limited.   The U.S.-Chinese tax treaty is limited compared to the European tax treaties.

Besides European tax treaties, the international tax accountant in Los Angeles must also know the basics of Canadian tax law and the Canada – U.S. tax treaty. This treaty is unique.   The tax treaty covers retirement plans, estate taxes and a special trust income tax law.

Many European tax treaties allow the European to avoid U.S. income taxes while living the in  United States as long as they do not have a U.S. Green Card.  Here is link on this amazing tax savings.

Both the Asian and the European are taxable on income earned by their corporations before they became a U.S. resident.  The income is taxable when the corporation pays a dividend or is dissolved.  

Income from a foreign investment fund is subject to a harsh tax treatment unless is special election is made.   This law is known as the “passive foreign investment company” (“PFIC”) tax law. 

International Tax Accountant in Los Angeles can help reduce or avoid European Inheritance Taxes.

One of the challenges for the international tax accountant in Los Angeles is helping the European manage their home country inheritance tax laws and avoid the U.S. estate tax laws.

Inheritance taxes are paid by the recipient of a gift or a bequest.  In the UK and the EU, the governments have an inheritance tax.  The tax is based upon the amount of the gift and bequest.    However, in the U.S., the estate of the deceased pays the tax based upon the value of the estate. Gift tax is paid by the donor (the person making the gift) and not by the donee (the person receiving the gift). 

If you would like to discuss your international tax problem or concerns, then email me at [email protected]