May 31, 2018 – San Francisco, California. Safe Harbor LLP, considered the top international CPA and accounting firms in San Francisco, California, is proud to announce a short but important commentary to its blog on the overseas tax implications of the TCJA (Tax Cut and Jobs Act) of 2018, often referred to as the “Trump Tax Cut.”
“As 2018 hits in earnest, we are receiving a steady stream of inquiries from both businesses and individuals in California seeking to take advantage of the new Trump tax changes,” explained Chun Wong, Managing Partner at Safe Harbor LLP. “However, it can be complicated. This is especially true for persons or companies with overseas or international tax exposure. Our post is a starting point for a conversation with anyone who is looking for an international CPA firm in California to assist them in the new environment.”
To read the new blog post, visit https://www.safeharborcpa.com/international-tax-provisions-of-the-tax-reform-act-of-2017-a-san-francisco-perspective/. While none of the information in the tax alert should be construed as tax advice, the post provides an overview of some of the most significant modifications to the US international tax provisions affecting businesses and individuals. The CPA firm urges clients to evaluate the impact of tax reform and discuss relevant changes with their tax advisors since many of the new provisions may bring about unintended tax consequences with respect to properly implemented structures under the previous US international tax regime. Overall, the changes expand the base of cross-border income to which current US taxation applies.
Furthermore, after reading the post, the interested person or company is strongly urged to seek out a CPA firm with international tax expertise. International tax issues are especially complex because one has not only USA tax law, but also the tax law of various other countries. Indeed, Safe Harbor LLP has many corporate and business clients in San Francisco who have operations and exposure not just in the United States but in Canada, Mexico, the United Kingdom, Germany, China, and other countries. Fortunately the firm has a depth of international tax experience in California that is unparalleled even by much larger accounting firms in cities as diverse as San Jose, Sacramento, Los Angeles, and San Francisco. For more detailed information on international tax issues, visit https://www.safeharborcpa.com/international-tax/.
INTERNATIONAL TAX SERVICES FOR CORPORATIONS AND BUSINESSES IN SAN FRANCISCO
Domestic taxes are complicated enough in a stable environment. The TCJA, however, has thrown a lot of confusion into the tax code as the IRS seeks to clarify provisions in the law. Even more confusing is the fact that the TCJA addresses many international tax issues. A savvy businessperson or corporation would be well served to first read the new blog post, assess their exposure to TCJA changes (including those for international tax), and then reach out to a San Francisco, California, tax advisor for information on how to maximize the advantages of the new law, and minimize the disadvantages. For example, San Francisco startups may not realize that they have exposure in this way, and that they have exposure to international taxation. In fact the blog has a special section on tax and accounting issues for San Francisco startups at https://www.safeharborcpa.com/tag/start-ups/. Many startups in the hot San Francisco technology field are eager to work with a CPA firm that not only “gets” startups but also “gets” international tax.
ABOUT SAFE HARBOR LLP – A PROFESSIONAL CPA FIRM IN SAN FRANCISCO
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
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