International Tax Is Extremely Complicated: That’s Why You Need a Specialist

Filed in CPA Blog by on November 11, 2020
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International taxes are extremely complex! There’s no getting away from it. You have the USA federal tax, the tax in the foreign country or countries, and you have state and local taxes here as well. Now tell me that’s not complicated!San Francisco international tax advisors

If you are running a business and you have property or income overseas, then your average CPA or accountant is not necessarily what you need. What you need is San Francisco international tax advisors who do understand the tax rules in the other countries in which you operate as well as understanding the local ones here.

Furthermore, you could be a US citizen, or you might be simply domiciled here, or on an assignment, which can add to the confusion. You might spend over half your time abroad or your might spend more of it in the US. All of this is going to have an effect on the amount of taxes that you have to pay and where you have to pay them. That is why you need to come and talk to us at Safe Harbor as specialist San Francisco international tax advisors.

We have a deep understanding of overseas tax laws and how to use them to best advantage. At the end of the day, best advantage means paying the absolute minimum in tax wherever and to whomever you have to pay it. We all have to pay tax, but there is never any excuse for paying a cent, renminbi, yen, franc, peseta, euro, or forint more than you have to.

A Lot Of California Businessmen Pay More Tax Than They Have To

Bottom line is this: a lot of California businessmen and businesswomen – and we do mean a lot – pay more tax than they have to simply because US taxes are very complicated. They are meant to be complicated, because if they are complicated the average person can’t or won’t be able to figure out all the loopholes and tax advantages – all perfectly legal – and simply gives up in despair. Add to that state taxes and local taxes and already it is complex.

However, when you also have income from overseas, whether that is a business or perhaps from investment or properties, things can get ten times worse. That is why you need San Francisco international tax advisors such as ourselves who do understand overseas taxes.

Even then, there are times that we have to put our hands up and admit that we don’t know everything. We can’t keep up to date with every tax change in some obscure foreign country. However, we can still help you because when something like that happens, we have contacts in many countries who can advise us. They help us, and when they have problems with US tax laws, we help them.

The net result is that you pay the minimum amount of tax wherever you have to pay it, and that is probably all that you are concerned about.

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