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Foreign companies doing business in the United States need guidance and support to ensure that they comply with the myriad of tax rules and filings incumbent upon them here. They often also need assistance with financial reporting on their U.S. operations.
Our firm offers a turn-key solution for all your U.S. tax and accounting needs. If you do not yet have a presence in the United States, we can help you determine which U.S. form business is best for you: corporation, partnership/LLC or branch. Whether you are new to the U.S. or already have operations here, we will consult with you regarding all the tax issues your company faces and we will prepare the required tax forms in signature-ready fashion so you can meet your filing obligations on time.
If you need financial reporting on U.S. operations, our outsourced CFO solution can produce monthly or quarterly financial statements and management reports so that you do not need to hire bookkeepers or an accounting staff here. This is often a great resource for companies that need to focus on their core business and do not want or need to manage extra employees and build out accounting systems.
Owners and management of international companies doing business in the U.S. will need to be aware of three major businesses taxes: Income, Employment and Sales & Use. Since everyone’s situation is unique, it is best to call to arrange an initial free consultation.
Income Taxes
We have corporate income tax considerations at the federal, state, and local income tax level. For businesses with offices or facilities in more than one state, multi-state allocations and apportionment are generally required. Proper knowledge and tax rules and planning can keep your business compliant and also save you significant money in taxes.
Employment Taxes
If you have employees in the United States that are not exempted from taxation based on tax treaty provisions, your U.S. business must pay several types of employment taxes and you must carry certain types of employment insurance. If your business pays workers that you would like to classify as independent contractors as opposed to employees, there are very specific tests to determine if that classification is sustainable-with significant penalties if it is not.
Sales & Use Taxes
The U.S. has a very different system than the European VAT tax for taxing production and sale of physical goods. Taxation takes place at the state and local levels, and each state has unique tax regulations. Besides the sales tax on physical goods, certain enumerated services are also taxable depending on the jurisdiction the services are performed. Also, to the extent you employ tangible personal property in a jurisdiction and do not pay sales tax upon its purchase, you may be subject to that State’s “Use” tax.
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