GILTI and Subpart F Income

GILTI and Subpart F Income of Foreign Corporations

Are you a foreign corporation subject to the complexities of Global Intangible Low-Taxed Income (GILTI) and Subpart F income taxation under U.S. tax laws? Navigating these intricate rules can be challenging, but our specialized tax services are here to assist you in optimizing your tax position and ensuring compliance with U.S. tax regulations.

Here's how we can help:

1. GILTI and Subpart F Income Analysis:

Our team will conduct a comprehensive analysis of your foreign corporation's income to identify any GILTI or Subpart F income that may be subject to U.S. taxation. We'll review your financial records, transactions, and operations to determine the extent of your GILTI and Subpart F income exposure.

2. Tax Planning and Optimization Strategies:

Once we've identified your GILTI and Subpart F income, we'll work with you to develop tax planning strategies aimed at minimizing your US tax liability. This may involve structuring your operations, leveraging available deductions and credits, and optimizing your corporate structure to mitigate the impact of GILTI and Subpart F income taxation.

3. Compliance with Reporting Requirements:

Compliance with U.S. tax reporting requirements is essential for foreign corporations subject to GILTI and Subpart F income taxation. Our team will ensure that you accurately report your GILTI and Subpart F income on the appropriate tax forms, including Form 5471 for controlled foreign corporations (CFCs) and Form 8992 for GILTI reporting.

4. Foreign Tax Credit Planning:

Foreign corporations may be eligible to claim foreign tax credits to offset their U.S. tax liability on GILTI and Subpart F income. We'll help you navigate the complexities of foreign tax credit planning, including calculating your foreign tax credit limitation and optimizing the use of foreign tax credits to reduce your U.S. tax burden.

5. Transfer Pricing Analysis:

Transfer pricing plays a crucial role in determining the amount of income allocated to foreign subsidiaries, which can impact GILTI and Subpart F income calculations. Our team will conduct transfer pricing analyses to ensure that your intercompany transactions are conducted at arm's length and comply with applicable transfer pricing regulations.

With Sunstone CPA's comprehensive tax services for GILTI and Subpart F income of foreign corporations, you can navigate the complexities of U.S. taxation with confidence. Contact us today to learn more about how we can assist you in optimizing your tax position and ensuring compliance with U.S. tax regulations.