Changes in Reporting Requirements for Foreign-Owned Domestic Disregarded Entities

March 22, 2021By Evelyn Fernandez

Foreign-owned domestic disregarded entities have not had filing requirements in the past unless an election was made to treat it as a corporation, known as “check the box.” Disregarded entities are most commonly single-member LLC (SMLLC). Generally, income tax and reporting requirements would not be reported separately. Rather, they would have been reportable on the … Read More

Foreign-Derived Intangible Income (FDII) Can Increase Cash Flow for Manufacturing Companies and Distributors with Global Operations

September 10, 2020By Evelyn Fernandez

This is a preview of one of the articles in the new KROST Quarterly Manufacturing Issue, titled “Foreign-Derived Intangible Income (FDII) Can Increase Cash Flow for Manufacturing Companies and Distributors with Global Operations” by Evelyn Fernandez, CPA, MST. The Tax Cuts and Jobs Act (TCJA) included several tax changes relating to the US taxation of … Read More

The California Safe Harbor for Residents Working Abroad

June 8, 2020By Robert Gosart, CPA

If you are a California resident who accepts overseas assignments, or an international employer with California residents working abroad, you should know about the California Safe Harbor. The California Safe harbor is available for certain individuals leaving California under employment-related contracts. The safe harbor provides that an individual domiciled in California who is outside California … Read More