TCJA brought many significant changes to the International Tax arena. During this session we do a high level overview of the changes including a discussion of Global Intangible Low Taxed Income (GILTI), Foreign Derived Intangible Income (FDII), Base Erosion Anti Avoidance Tax (BEAT), Foreign Tax Credit and other changes. We will also discuss the new tax forms and recent guidance on how to calculate taxable income with this new provisions. And finally, we will discuss planning ideas for individuals and closely held businesses with international activities.
Participants will be able to:
Identify what GILTI, BEAT and FDII are.
Perform a basic GILTI Calcuation.
Be familiar with the new filing requirements related to international activities.
Identify planning opportunities for taxpayers with cross border activities.