Vernon K. Jacobs, CPA
|
Offshore
Tax Services
How to venture
offshore without getting into trouble with the IRS.
|
For those who have an interest
in my professional services as a CPA, please note that I am currently
semi-retired and no longer provide the full scope of tax
accounting services that are typical of most CPAs.
About 3/4 of my available time is spent as
an
author, seminar instructor and
publisher.
As a tax professional, I now
limit my work to the preparation of certain information returns
required by the U.S. tax law, such as
- Forms 3520 and 3520-A for
foreign trusts with U.S. grantors
- Forms 5471 and 926 for
controlled foreign corporations with U.S. owners
- Form 8865 for foreign
partnerships with U.S. partners
- Forms 8832 and 8858 for
foreign disregarded entities with U.S. owners
- Form 8621 for U.S.
shareholders of foreign investment companies
- Form TD F 90-22.1 for
reporting foreign financial accounts
Due to limits on my time, I
only work for a few clients at any time.
Because I do not provide other tax accounting services, I now accept
new clients only if they have a capable accountant and U.S. tax
preparer. If a prospective client does not have a tax accountant, I can
refer them to one with whom I've established a working relationship. In
other words, I prefer to not charge clients for time spent preparing
financial statements, doing currency conversions and computing the gain
or loss on security sales. If a business is in need of transfer pricing
services, I will refer the business owners to a specialist in that area
of international tax law. If taxpayer defense representation
services are needed, I encourage clients to seek help from an attorney
that specializes in that area of tax law.
Why Venture Offshore?
There are
five primary reasons why most U.S. citizens and permanent residents
venture offshore.
Each of
these reasons will result in different tax complications and/or some
tax
saving opportunities.
If you (or your
clients) need help in complying with the U.S. tax rules for offshore
investments, employment, asset protection or business operations, there
are four ways that I can help you.
- You can buy one of
more of the varous books and
reports I have written or have co-authored with other international
tax professionals.
- If you may want more
than a couple of my books or reports, a less
expensive alternative is to subscribe to my online reference library
and the International Wealth
Protection News Monitor that I write weekly (when my work
schedule permits).
- If you need some
clarification about some aspect of international tax law or asset
protection but are not seeking professional advice, I offer a phone consultation
service. which includes a free two year subscription to my online
reference
library and newsletter.
- If
you need personal
tax advice or help with the preparation
of various international tax returns, I am available for a limited
number of new clients each year, but I am also affiliated with other
international tax accountants through the International Tax
Compliance Group.
If you are
a tax attorney or CPA who has a client that is involved in some
offshore entity such as a foreign trust, an IBC, foreign corporation,
foreign
partnership or LLC, you can outsource the international work to me and
other members of the International Tax Compliance Group. I do not do
ANY domestic tax work any more and I prefer to work with domestic tax
professionals rather than to do all of the varied tax work for a
particular client. I'm also available for research assistance in
international tax matters. If I don't already know the answer to your
question, I can probably find it faster than you can.
If you
have failed to file some of the returns required by the IRS for
offshore activities or for foreign financial accounts, you should
seriously
consider hiring an attorney who can provide you with a greater degree
of confidentiality. I have provided contact information for some of the
tax defense
attorneys
with whom I have worked. If and when delinquent tax returns need
to be filed for your offshore activities, these attorneys can retain
me to do that work. When I work through an attorney, your legal
rights are protected.
Vernon K. Jacobs
Certified Public Accountant
Contact Information: Vernon K. Jacobs,
PO Box 8194,
Prairie Village, KS 66208
Phone (913) 362-9667 Fax (913) 432-7174.
Send Email to jacobs--@--offshorepress.com
(Delete the --- in the address)
(C) Copyright, 2008, Vernon K. Jacobs, All
rights reserved.
|
Free
Subscribe to the JacobsReport
Commentary about offshore taxes
and asset protection strategies !
|
New New New
A concise plain English
introduction to the U.S. tax rules for
cross-border investments, foreign trusts, foreign corporations and
other foreign entities owned by U.S. citizens or residents.
Other
Books
and Reports
by Vern Jacobs
|
Offshore
Press, Inc.
Reliability Seal Information
|
