Navigating the Complexities of PFICs: A Comprehensive Overview

 This session provides a comprehensive guide to understanding the intricacies of Passive Foreign Investment Companies (PFICs). Participants will explore the background of the PFIC regime and identification of subject entities alongside their tax implications and available elections aimed at minimizing their tax burdens. We will discuss strategies to avoid the PFIC regime, clarify who falls under its jurisdiction, and offer practical insights through a thorough walkthrough of the required forms.

Bio:

 Clifford Danskine is a Certified Public Accountant at Spott, Lucey & Wall, Inc. CPAs, where he has been enhancing client services since 2016. He earned his Master’s in Accounting from the Milgard School of Business at the University of Washington in the same year. Clifford focuses on the intricate tax implications and compliance issues that arise from cross-border transactions and relationships, assisting both businesses and individuals in navigating the complexities of international tax law.

 In addition to his professional responsibilities, Clifford is nearing completion of a Master of Science in Taxation at Golden Gate University, with just one class remaining. He effectively combines his practical experience and academic knowledge to provide clients with clear and strategic insights into the multifaceted world of taxation related to international tax.

 Jordan Reichelt is a partner at Spott, Lucey & Wall, Inc. CPAs. Jordan graduated from University of Washington’s Foster School of Business with a concentration in accounting and human resource management and joined the firm in 2011. He received his Master of Science in Taxation in 2018 and Certificate in International Tax in 2020 from Golden Gate University. His thesis focused on the implications of the GILTI tax regime for U.S. owners of controlled foreign corporations.

 Jordan specializes in bringing clarity to the unique tax implications and compliance issues faced by businesses and individuals with cross border transactions or relationships. Jordan is our lead specialist on the GILTI regime and works extensively with the U.S. owners of foreign businesses to structure or restructure their businesses for global tax efficiency. Jordan works closely with high-net-worth families and internationally mobile executives to understand and apply solutions for the complex tax issues presented by their global investments, stock compensation, and foreign pensions.

The Zoom link will be sent after registration.