EXPERIENCED TAX PREPARATION IN SOUTHFIELD, MICHIGAN
With the world’s largest economy, the U.S. also features one of the world’s most complicated taxation systems. Whether you commute to the U.S. for employment, are a U.S. citizen or green card holder, own property in the U.S., or are running a business in the U.S., MCO Partners can assist with your tax-filing requirements.
What We Offer
U.S. Personal Taxes
U.S. personal tax, while relatively straight-forward for U.S. residents, it can be an overwhelming process for those living outside of the U.S. With tremendous penalties for a variety of late-filed forms, U.S. citizens living abroad must be diligent with their annual filings, or risk the consequences. From the standard commuter return, to the most complicated U.S. citizen living abroad return, MCO Partners can assist with all of your compliance needs.
Tax Audits, Appeals & Voluntary Disclosures
Audits & Appeals: An IRS audit is a complicated process with a number of important deadlines and options. Don’t take on the IRS yourself – contact MCO Partners to discuss your options and leave the stress to our experienced team of U.S. tax professionals. We work closely with U.S. tax attorneys to ensure that you are given the absolute best chance of audit success.
Voluntary Disclosures: Most relevant to U.S. citizens living abroad is the IRS voluntary disclosure program. If you have not been compliant with all of your U.S. personal tax filings, contact us today to discuss your options. The time has never been better to become fully-compliant than right now. The IRS is offering full amnesty to the great majority of U.S. citizens living abroad who were unaware of the full extent of their filing requirements. We will ensure that you are made compliant on a timely basis, for a fee significantly less than what you’ll see in any large city, on either side of the border. We’ve helped hundreds of people become compliant with their U.S. tax-filing obligations through the various IRS voluntary disclosure programs – let us help you today.
Estate Tax
When a U.S. citizen or resident passes away, it is essential that the appropriate U.S. estate returns are filed on a timely basis. We can assist with compliance, and with the complicated planning involved in moving an inheritance into Canada.
U.S. Corporate Taxes
U.S. corporate tax often differs significantly from the corporate tax approach in other countries, particularly when a non-U.S. resident is involved in ownership of the corporation. It is essential that the appropriate planning takes place before the first step into the U.S. We work closely with U.S. tax attorneys and C.P.A.’s to ensure that our clients’ diverse needs are met by the appropriate structure. This is not basic tax advice – seek an expert to help you with this planning.
Voluntary Disclosures: The IRS offers a voluntary disclosure program for non-compliant filers. MCO Partners works with U.S. tax attorneys to determine the voluntary disclosure approach that will result in the best likelihood of success. Don’t let non-compliance keep you awake at night – contact us today to learn how you can access this program.
Corporate Tax Planning
When a Canadian resident is considering doing business in the U.S., the pitfalls that can arise because of the differing taxation systems are numerous. The standard U.S. tax planning approach using LLC’s or S-Corporations can easily create double-taxation situations for Canadian residents. U.S. attorneys and accountants are not likely to be aware of the issues facing a Canadian investor into the U.S. Call MCO Partners to map out your best approach to the U.S. market.
State Tax Planning & Compliance
With 50 U.S. states and many more cities and municipalities each featuring their own tax-filing requirements, it is near-impossible for an ordinary business person to be fully-compliant in a variety of states when required. We have the in-house expertise to help you determine whether you have nexus in a state, and to be compliant with each state and city’s tax-filing obligations.
Sending Employees into the U.S.
U.S. nexus can result in a variety of ways – whether it be by way of a new office, a salesperson signing contracts in the U.S., or a variety of employees working a number of days abroad. Before sending that first employee into the U.S., set up a meeting with MCO Partners to ensure that you are aware of the rules before creating a significant tax situation.
GILTI Tax Compliance & Planning
The new U.S. Global Intangible Low-Taxed Income (“GILTI”) tax was part of the sweeping 2017 tax reform. These new rules were intended to deter multinationals from evading U.S. tax by using intangible property to move income to a lower or no tax country. Unfortunately, it is not only large multinational corporations that have to deal with this new tax. Any U.S. persons with ownership in foreign corporations have a potential GILTI tax liability. The rules relating to the specifics of this new tax including methods to eliminate or at least significantly reduce your GILTI tax exposure are complex. If you believe you may have a GILTI issue please contact us and we will help you implement the right tax strategy.
LET’S GET STARTED
We take tax very seriously. That’s why the partners at MCO Partners have specialized in tax throughout their careers. Experience, knowledge and service at affordable rates. We’re here to help. Please contact us with any questions you may have about your needs and our services.