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Operating across borders introduces structural and tax complexity that builds over time. For many businesses, it begins to show up in a few key ways:
Small structural and planning decisions can materially impact how much tax is paid each year. This approach ensures your Form 1040 reflects a strategy that has been built and managed in advance, not just reported after the fact.
Align business and personal tax strategy across entities and income streams
Reduce unnecessary tax exposure and identify where tax is being overpaid
Optimize entity structure, distributions, and
income flow
Improve visibility into how financial decisions impact your overall tax position
"My wife and I have used LodderCPA since 2018 and have found them to be highly professional in every respect. They specialize in cross-border (US-Canada) tax preparation which is a service we need since we have to file taxes in two countries. Kyle Lodder is the consummate professional and his staff match his professionalism. We highly recommend this firm and we will utilize their services for as long as they'll have us."
Canada
"I have used Kyle & his team for years now & have found them to be excellent for the cross border tax process. This year Fiona was my personal contact & she made the process effortless for me. I strongly recommend this firm to anyone considering them. Thanks Kyle & team."
MiraCAD
Our advisory support is designed to align with the complexity of your structure and the level of strategy, coordination, and oversight your business requires as it grows.
Ongoing optimization, coordination, and proactive management of your tax strategy.
What’s Included:
Everything in Strategic, plus:
Best for: Business owners with complex income and structures who want their tax strategy actively managed and continuously improved.
Actively reduce tax exposure through structured planning and better visibility.
What’s Included:
Everything in Foundation, plus:
Best for: Business owners looking to improve efficiency and make informed tax decisions throughout the year.
Ensure accurate filing and a reliable baseline for your tax position.
What’s Included:
Best for: Business owners who need dependable compliance and a clear starting point.
Find answers to frequently asked questions about our services and international taxes.
Yes. U.S. citizens need to file and prepare U.S. tax returns if the filing thresholds are met, regardless of whether or not they live in the U.S.
They may be exposed to late filing penalties, late payment penalties and interest, but also the significant penalties from late filing certain U.S. international information returns such as the Forms 8938, 5471, 8865, 8858, 8621, 3520/3520-A, FBAR, etc. The penalty exposure for filing each of these forms is $10,000+.
As long as the person wasn’t aware and immediately took action to fix the problem, then they may qualify to become compliant with the U.S. tax system by filing delinquent returns pursuant to the Streamlined Filing Compliance Procedures.
Yes. The U.S. tax return still needs to be filed. The gross income needs to be reported, and then the foreign earned income exclusion is claimed on the tax return to exclude this income from being taxable on the U.S. return.
It depends, since each situation is different. Sometimes the foreign tax credit option isn’t available if the U.S. person lives in a country which doesn’t have an income tax which can then be used as a credit against the U.S. tax liability. In countries that have an income tax, often it can make sense for U.S. citizens with dependent children to claim the foreign tax credit to receive a refundable child tax credit.
Often this is the case. But there are many considerations. For instance, only $250,000 of gain from selling a primary residence is tax-exempt in the US. Different tax incentives abroad can lead to credits, deductions, and exemptions not available under US law, potentially increasing tax liability. Additionally, anti-tax deferral rules apply to non-US corporate interests. Given these complexities, consulting a qualified US international tax specialist is crucial.
Income earned within a corporation generally isn't taxed on the US shareholder's federal return, allowing tax deferral until profits are distributed as dividends. Subpart F, GILTI, and PFIC are U.S. tax rules aimed at disincentivizing U.S. income tax deferral and wealth accumulation within a foreign corporation. Consulting a US international tax specialist is crucial for navigating these complexities and optimizing the tax position.
Owning assets abroad exposes one to IRS disclosure and tax implications. Consulting a US tax advisor is crucial due to complexities in owning partnerships, trusts, corporations, pensions, retirement accounts, and foreign mutual funds. Simplifying entity structures is advisable. Certain accounts can be considered foreign trusts or PFICs, complicating US taxes. It is a good idea to discuss tax optimization, simplicity in entity structure, and compliance with a tax advisor.
Reduce unnecessary tax exposure, improve how your income is structured, and move forward with a strategy designed to perform.
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