Hi, I am James Crenshaw, and this is my very first blog post on my a subject I have spent the last 27 years learning about and engaged in the practice of: INTERNATIONAL TAXES
This will mostly be about U.S. international taxes, meaning the way that U.S. tax laws apply to international commerce.
WHO IS THIS FOR?
First, this blog will be aimed at helping small-and medium-sized U.S.-based businesses navigate the waters when they begin to plan for and start selling goods and services outside the U.S. This is the “having a child” moment in business.
When I was growing up, many people predicted certain events in my life would be groundbreaking…graduating from college, turning a certain age, even marrying, did not really dramatically alter my life. But the one prediction that was true was having a child. My life was permanently and dramatically offered when my first daughter, Jill, was born.
This is the way it is for a growing domestic business. There are many events, hiring the first employee, landing the first contract, that are important milestones to be sure, but “going global” (even if that means just one other country) is “having a child.” Nothing will ever be the same in so many ways, and I will focus on the tax ways.
Second, this blog is for the CPAs that serve them…particularly those with little or no international tax experience. You see, as a service provider, you root for your clients’ success. And your interests are generally aligned; the more successful your growing client is, the more extensive your services and fees. But if not prepared to offer the specialized services of your client going global, you stand not only to not participate in the provision of those services, but lose the client altogether to a bigger firm.
Finally, I will also sometimes touch upon the needs and very special considerations for people with substantial assets from other countries that are planning to move to the U.S. or acquire American real estate.
I WON’T HOLD ANYTHING BACK!
Not about international taxes, not about government policies and, perhaps unfortunately for my readers, I am not shielding you from my personality, haha. I try to illustrate points with what you may consider odd comparisons from “real life,” like my child-bearing example above.
Look, taxes are undeniably a dry subject, but I truly believe there is a lot of value to be given to my readers, and SAVING MONEY is high on everyone’s list, I believe. In the end, that is my objective…as I add content, let’s stay in dioalogue. I am open to questions, and envision periodically doing posts where I answer the best questions.
Until next time,