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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Thursday, January 18, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE webinar will provide tax counsel and advisers with a comprehensive guide to pre-immigration tax and investment planning challenges and opportunities under current tax law. The panel will discuss strategies for minimizing the U.S. tax impact of foreign-source ordinary and capital income before establishing tax residency in the U.S., detail the current EB-5 program for nonresidents seeking to establish permanent residency through investment in the U.S. economy, and review tax planning opportunities in structuring U.S. investments.

Faculty

Jennifer Migliori
Partner
Duane Morris LLP.

Ms. Migliori is a partner in Duane Morris' Corporate Practice Group and practices in the areas of international taxation, wealth preservation planning and private equity transactions. She has experience developing and implementing tax-efficient investment structures. Ms. Migliori has developed a focus on complex international corporate structures, trust planning, and compliance. She also regularly advises clients on various tax matters including international information sharing arrangements, tax treaties, the Foreign Account Tax Compliance Act (FATCA), expatriation, pre-immigration tax planning, and tax controversy matters including audit representation and voluntary disclosures. Ms. Migliori is vice-chair of the firm’s Private Equity Division within the Corporate Practice Group. She represents investors, fund managers, family offices, financial institutions, fiduciaries, high-net-worth individuals and owners of closely-held companies. Ms. Migliori is admitted to practice law in Florida and Pennsylvania, and before the U.S. Tax Court. Ms. Migliori earned her LL.M. in Taxation from the New York University School of Law and her law degree from University of Virginia School of Law, where she was Editor-in-Chief of the Virginia Tax Review. She is a graduate of the Florida Fellows Institute of the American College of Trust and Estate Counsel (ACTEC).

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Connor J. Southwell
Partner
Citrin Cooperman Advisors, LLC

Mr. Southwell is a partner in the firm's International Taxation Services Practice. He has over a decade of experience advising high net worth individuals and closely held businesses in international tax planning and compliance. Mr. Southwell works with both U.S. nationals and business entities with activities in foreign jurisdictions, and nonresidential individuals and companies that seek to establish a presence and economic nexus to the U.S. His specialties include the subpart F and GILTI regimes, foreign tax credit planning, FATCA compliance, and the analysis and application of U.S. and OECD model income tax treaties.

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Description

The United States provides an opportunity for high net worth foreign individuals to establish tax residency to take advantage of various tax provisions and immigration programs. This creates an opportunity for tax counsel and advisers to provide critical income and transfer tax planning to minimize the U.S. tax impact of preexisting foreign assets and to help design an immigration strategy through investment in the U.S.

Because the U.S. imposes tax on its residents' worldwide income, preserving the financial wealth of would-be immigrants to the U.S. may depend on accelerating income and gains and deferring deductions/losses before establishing U.S. residency. This is a desirable strategy if the U.S. statutory tax rate is higher than the immigrant's current tax home, but tax counsel must be aware of the impact on after-tax holdings.

Foreign investors, for income and transfer tax purposes, must balance various tax issues to determine the appropriate vehicle for making U.S. investments. Various ownership structures--whether direct ownership by a non-U.S. person or use of a foreign or domestic corporation, trust, or partnership--each have particular tax consequences for the foreign owner. Counsel must be well-versed in the tax consequences of various transactions and entity structures, plus the related tax compliance requirements.

Another critical aspect of pre-immigration planning is assisting clients with establishing U.S. residency and gaining immigration priority by applying for an EB-5 investor visa. This requires a substantial investment in a U.S. trade or business in which the immigrant would take an active role. Tax advisers need to thoroughly understand the requirements of this program to assist clients in the application process.

Listen as our experienced panel provides a thorough guide to the nuances of pre-immigration tax and U.S. investment planning, offering practical tips to help assist high net worth clients transition into the U.S. in a tax-efficient manner.

Outline

  1. Residency and tax consequences
  2. Pre-immigration planning goals
  3. Avoiding anti-deferral rules
  4. Minimizing transfer tax impact
  5. Structuring U.S. investments: key tax considerations, EB-5 and other options

Benefits

The panel will review these and other essential issues:

  • What are the crucial considerations in wealth preservation for a foreign individual becoming a U.S. resident for tax purposes?
  • How to avoid anti-deferral rules in pre-immigration transactions
  • How to navigate the EB-5 program through a regional center
  • What are the various tax consequences of a foreign person investing in the U.S.?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify the critical tax issues involved in pre-immigration tax and U.S. investment planning
  • Recognize when to accelerate income and gains
  • Determine how to design an asset transfer strategy to minimize U.S. taxation on preexisting foreign-based assets
  • Ascertain the steps to the EB-5 investor visa program
  • Identify various ownership structures and related tax consequences for foreigners making U.S. investments
  • Ascertain tax planning opportunities in structuring a deal involving foreign investment in the U.S.

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Working knowledge of partnership/corporate structure, international tax law implications, and state and local tax rules.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).