🎦 Form 5471 Explained: Doing the Work | 2/3

🌍 Unlock the Complexities of International Tax Law 🌍
In this second part of our series, we dive deeper into the practical aspects of preparing Form 5471. Whether you're handling typical expat tax returns or managing smaller foreign entities, this video will equip you with the insights needed to confidently complete this complex IRS form.

🔑 Key Takeaways:
- Learn the technical aspects and preparation tips for common Form 5471 scenarios.
- How to confidently approach smaller, non-multinational Form 5471 filings.
- Discover key questions to ask and resources to consult when dealing with more intricate parts of the form.

00:00 Introduction and Series Overview
02:25 Agenda and Review of Part 1
04:04 Understanding GILTI (Global Intangible Low-Taxed Income)
10:15 GILTI Calculation and Exceptions
18:49 High Tax Exception
20:52 Example 1: Individual Shareholder of CFC
37:10 Example 2: S Corporation Shareholder of CFC
43:22 Special Scenarios: Category 3 Filing and Non-Resident Spouse
48:40 Conclusion and Q&A

Continue building your knowledge on expat tax compliance and stay prepared for the ever-evolving international tax landscape. Stay tuned for more expert advice on expat tax preparation, and don't hesitate to drop your questions in the comments section below!

Follow our channel or reach out for a consult, visit 🌐 mcgowintax.com

#expat #internationaltax #irs

Видео 🎦 Form 5471 Explained: Doing the Work | 2/3 канала McGowin Tax