International tax lawyers provide advice regarding the intricate international tax laws that pertain to businesses operating in the United States or to U.S.-based companies operating outside the US.
Among many other things, international tax lawyers may provide their clients with insight as to how they can save money on their taxes via offshore accounts, opening subsidiary companies in foreign lands or, in extreme cases, even transferring their legal residence or citizenship to another country.
Maximizing foreign tax credits, excluding certain foreign income, and deferring U.S. taxation to a future year are just some of the areas of expertise common to international tax lawyers and some of the subjects about which international tax lawyers may advise their clients.
Who needs an international tax lawyer? Typically a client would benefit from an international tax lawyer if they operated a business headquartered in the U.S. with foreign operations or a business headquartered outside the U.S. with U.S. operations.
Also those business entrepreneurs from another country considering investment activities in the U.S. will need an international tax lawyer. Others who might benefit from an international tax lawyer may include real estate owners of which the real estate is owned by someone that is not yet a resident of the US, and publically traded corporations with business activities on both sides of the borders will need assistance working through the various tax requirements.
Law firms and accounting firms working with clients involved in international affairs may also benefit from the advice of an international tax lawyer.
Other esoteric information known to international tax lawyers but not, necessarily to legal general practitioners involves the rules and regulations pertaining to specific countries which typical offer havens for non-citizens seeking to escape unreasonable tax burdens in their own countries An understanding of the legal system in these countries is essential business people looking to expand to another country and international tax attorneys are the folks who can provide you with that information.
Generally, tax haven countries impose no taxes on foreign companies with the condition that they restrict their activities in that country to spending money only. Frequently, change in geography income can go a long way to reducing your tax liability an international tax lawyer is just the person who can tell you how to best go about achieving that outcome.