A global tax advisor (often called an international tax consultant or a cross-border tax expert), is a tax advisor who specializes in circumstances where two countries with separate tax laws are involved. A global tax advisor will work with individuals, small businesses, medium sized businesses, and large corporations covering everything from owning property in two different countries to reducing tax burdens for businesses and individuals in cross-border circumstances.
What Services Does a Global Tax Advisor Provide?
An international tax consultant will provide a variety of services, depending on whether you are an individual or small business.
For Individuals
An individual may require services of a global tax advisor if they are living abroad, living in the U.S. as a foreign national, making high-volume purchases in other countries, or own properties in multiple nations. Here are a few key services for individuals:
- Individual Income Tax Preparation for Expats
- Taxes from Foreign Nationals Living in the U.S.
- Taxes on Worldwide or Foreign Income
- Taxes on International Properties
- Claiming Retirement and Pensions from Another Country on U.S. Taxes
- Property Ownership, Sale, and Inheritance
- Foreign Investments
Every individual’s tax circumstances and needs will be different. If there is a particular need you have not listed here, an international tax consultant can still help you.
For Businesses
Businesses will employ a global tax advisor for a variety of reasons—some will need to manage accounting and payroll for personnel across the country, while others will need to manage tax laws on properties. Here are a few key services for businesses:
- Tax Preparation and Strategy for Foreign Corporations Operating in the U.S.
- Tax Preparation and Strategy for U.S. Corporations Operating Abroad
- U.S. Filings for Foreign Corporations
- Expanding Operations Overseas
- Global E-Commerce and Sales
- Cross-Border Accounting
- Setting Up U.S. Subsidiaries and Managing Expansion
- Taxes for Income Sourced Abroad
- Digital Creators and Online Brands with International Expenses and Clients
- Global Accounting and Bookkeeping
- Cashflow Management
- Expense Tracking and Categorizing
- Reports and Monthly, Quarterly, and Annual Accounting Analysis
- International Tax Strategy
- and many more.
Internationally-operating businesses face a unique challenge when it comes to filing taxes, and can benefit from the expertise of a global tax advisor when it comes to creating and managing a tax strategy.
Other Specializations in Global Tax Advising
In additional to business- and individual-specific offerings, most global tax advisors will also offer expertise on:
- International Tax Compliance
- Tax Treaties
- Taxpayer Classifications
- Foreign Earned Income Exclusion
- Foreign Tax Credit
- Taxes for Expats
- Offshore Account Disclosure Advising
- IRS and Foreign Tax Reporting
- Risk Mitigation
- International Tax Policies
- Structuring and Compliance
- Foreign Bank Account Reporting
International tax is incredibly complex and situation-specific. We highly recommend speaking to a cross-border tax advisor as soon as you know you will need one.
What Should I Look for in a Global Tax Advisor?
The most critical thing to look for in a global tax advisor is experience and understanding of the tax systems you are impacted by. Cross-border tax (or international tax) should be listed in their service area, and ideally you want to work with a firm that has experience and a dedicated staff that manages cross-border clients.
There are a few other things you can check for expertise, including:
- Reviews that mention cross-border tax specifically
- Blogposts and information that offers specific on global taxes and accounting
- Certifications and educational badges related to international accounting
- Additional services you need (i.e. accounting, payroll, etc.)
You will be able to tell pretty quickly if the tax advisor you are evaluating has the experience and expertise you are looking for.
If you’re in the market, our Global Tax Advisors would be happy to assist you.
