{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F42caf0d9-babf-46f4-bb28-5a0b8a36cbd7","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"Walking through non-US taxation with Brian Schwam","description":"Walking through non-US taxation with Brian Schwam\r\n\n \r\n\nIn this episode of the SALTovation podcast, we speak with Brian Schwam, from WTP Advisors, and our very own Judy Vorndran.\r\n\n \r\n\nBrian walks through some nuisances on non-US taxation from the knowledge he\u2019s gained in his over 30 years of experience with international taxation. Listen to how this type of taxation overlaps with state tax.\r\n\n \r\n\nQuestions asked and answered in this Episode:\r\n\n \r\n\nHow did Brian come to focus on international tax?\r\n\nWhat brought him to WTP?\r\n\nWhat factors cause a foreign corporation to have a tax presence in the US?\r\n\nHow are non-US businesses generating income from the states?\r\n\nWhat are the penalties for non-US businesses that are not paying sales tax?\r\n\nWhat is the outbound for a US-based business with foreign operations?\r\n\nWhat is the one most important thing Brian wants people to know about what he does?\r\n\n\n \r\n\nWhat You Will Discover:\r\n\n \r\n\n[00:51] How Brian carved out his career in a niche area of taxation\r\n\n[05:44] What factors subject a foreign corporation to US tax\r\n\n[07:40] How non-US businesses bring in revenue from the states\r\n\n[09:26] Why foreign manufacturers have plants in America\r\n\n[15:33] How treaties play into taxation\r\n\n[20:25] What are the consequences if a business doesn\u2019t pay its sales tax\r\n\n[27:00] What forms a US-based business with foreign operations need to complete\r\n\n[37:49] What is the one thing Brian wants people to know about what he does\r\n\n[39:16] Outro\r\n\n\n \r\n\nQuotables:\r\n\n \r\n\n\u201cThere\u2019s a lot of labor-related taxes in a lot of foreign countries that we don\u2019t have here.\u201d - Brian Schwam [13:20] \r\n\n\n \r\n\n\u201cAnd this whole concept on who we have treaties and who we don\u2019t have treaties with, right? Where we play nice in the sandbox with some other countries and we don\u2019t play so nice with others.\u201d - Judy Vorndran [15:30] \r\n\n\n \r\n\n\u201cOne of them is the streamlined compliance filing. If you go back and file three years and pay interest in tax, they waive the penalties. Or if you have a situation where you don\u2019t have any reported income, but you didn\u2019t file these forms for whatever reason, as long as it wasn\u2019t willful, then you can go back six years and all the penalties will be waived forever. If you don\u2019t do anything, which is always one of the options, the statues never run, the penalties never go away and they just keep adding up. As soon as you're compliant once, it kind of alerts the IRS that you should have been compliant all along, so that\u2019s why these programs are important. We like to have our clients use them to get clean, if you will.\u201d - Brian Schwam [33:03]\r\n\n\n \r\n\n\u201cWe\u2019re also in the business of helping people optimize and maximize their opportunities, and I think if a business isn\u2019t getting the proper advice, it\u2019s like walking through a minefield. We try to help people avoid the landmines.\u201d - Brian Schwam [38:41] \r\n\n\n \r\n\nRelevant Links:\r\n\n \r\n\nWebsite: https://wtpadvisors.com/brian-schwam.php\r\n\nLinkedIn: https://www.linkedin.com/in/brian-schwam-b6026a3/\r\n","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/1e9d50d8-2d5c-4dfe-b024-78c1027fa785/salt-1-bpay1.jpg"}