Posted: May 28th, 2022

International Taxation and Foreign Tax Credits

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International Taxation and Foreign Tax Credits
Overview
For this assignment, assume that you
are a CPA employed as an international tax consultant hired to provide
advice to a U.S.-based client expanding operations into foreign markets.
To complete this assignment, please select a U.S.-based corporation
that has expanded into foreign markets within the last seven years.
Instructions
Using the Internet and/or Strayer Library, conduct research on the tax impacts for U.S. companies expanding into foreign markets.
Write a 4–6-page paper in which you:
Analyze, based on your research, the major impact of the Tax Cuts
and Jobs Act on the use of controlled foreign corporations to expand
abroad. Examine two methods you would recommend to the client to
circumvent the provisions of the Tax Cuts and Jobs Act on subpart F to
reduce the client’s tax liability. Provide at least two examples to
support your recommendations.
Create a plan, based on your research, for the client to lower
taxes by reinvesting profits and thereby lower the company’s tax
liability. Provide at least one example to support your plan.
Develop a strategy for the client to neutralize the impact of the
Tax Cuts and Jobs Act on the immediate U.S. taxation of deferred income
from foreign subsidiaries’ earnings and profits (E&P) over an
eight-year period. Provide examples to support your plan.
Analyze the foreign tax credits available to your client. Propose
at least three tax credits the client could use and the impact of the
credits on other foreign loss income. Provide examples to support your
recommendations.
Use at least four quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.
This course requires the use of Strayer
Writing Standards. For assistance and information, please refer to the
Strayer Writing Standards link in the left-hand menu of your course.
The specific course learning outcome associated with this assignment is:
Develop a plan to reduce tax liability, lower taxes, neutralize
the impact of the Tax Cuts and Jobs Act, and use tax credits for a
U.S.-based company that has expanded into foreign markets.

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