Below are some of the questions clients most commonly ask during their initial consultation. If your situation is not covered here, please feel free to contact us directly.
Yes. A significant portion of our clients live outside the United States year-round, and the entire process can typically be handled remotely, including video or phone consultations, secure document submission, electronic signatures, and electronic filing. You do not need to travel to the United States simply to take care of your tax matters.If physical documents are required—for example, when certain state tax authorities or financial institutions require original copies—we will let you know in advance and assist with the necessary arrangements.
Yes. Our firm was founded by partners who hold U.S. Certified Public Accountant (CPA) licenses and are licensed to practice in [New York / Washington].Each engagement is led by a partner who remains directly responsible for the matter. Senior professionals are involved in key decisions and critical stages of the engagement. You will also have a dedicated point of contact throughout our relationship, so you will not need to explain your background from scratch every year.
No. The initial consultation is complimentary. Its purpose is to understand your basic circumstances, assess the nature and urgency of your situation, and explain how we may be able to assist—including determining whether we are the right service provider for your needs.
You do not need to prepare a complete set of documents before the consultation. If readily available, the following can help make the discussion more efficient: your tax returns from the past one to two years, a brief overview of your company ownership and entity structure, and the one or two issues that are currently your highest priorities.
In many cases, yes. Taking action proactively is generally far better than waiting for the issue to be raised by the tax authorities. The U.S. tax authorities provide a number of procedures for addressing unfiled or incomplete returns, and certain programs may provide opportunities for penalty relief. However, many of these options have important eligibility requirements and timing considerations.
We will first assess the scope and nature of the issue and then determine which resolution or compliance path may be appropriate. Before beginning the engagement, we will explain the expected outcome, estimated timeline, and approximate fees. The earlier a historical tax issue is addressed, the more options are generally available.
Yes. Before beginning any work, we provide a written engagement letter clearly outlining the scope of services, responsibilities, and fees.
Routine tax compliance and filing services are generally provided on a fixed-fee basis. Advisory, structuring, and tax resolution projects can vary significantly in complexity and workload, so we provide an estimated fee range after understanding the circumstances. If the scope of work changes, we will discuss it with you in advance rather than surprise you with unexpected charges after the work is completed.
It depends on factors including your ownership percentage, entity classification, the nature of transactions between the entities, and your individual U.S. tax status. Common international information reporting requirements may include Form 5471 for certain interests in foreign corporations, Form 5472 for certain transactions involving foreign-owned U.S. corporations, Form 8865 for certain interests in foreign partnerships, and Form 8938 and FBAR reporting for certain foreign financial accounts and assets.
One important characteristic of these information reporting requirements is that a filing obligation may exist even when no additional income tax is due. Failure to file certain forms on time can result in significant penalties. We will first map out your complete ownership, entity, and cross-border cash-flow structure and then determine which forms and reporting requirements actually apply to your situation.
Ideally, you should begin at least 12 months before you expect to become a U.S. tax resident. Many effective planning opportunities—including strategies involving the tax basis of assets, foreign corporations and trusts, and the disposition or restructuring of certain PFIC investments—may need to be implemented before U.S. tax residency begins.
Once U.S. tax residency takes effect, the range of available planning options can become significantly more limited. Matters that could have been addressed proactively may instead require more complicated corrective measures. Even if your timeline is already short, an early assessment can still be valuable.
The standard federal filing deadline for individual income tax returns is generally April 15 each year. Partnerships and S corporations generally have a March 15 filing deadline. Extensions may be available for both. An extension generally provides additional time to file, but it does not extend the deadline for paying taxes, so any expected tax liability should still be paid by the original due date.
For routine tax filings, we recommend contacting us and submitting your documents between January and February. If your situation involves a transaction, entity restructuring, a change in tax residency, or historical compliance issues, there is no need to wait until tax season. The earlier we become involved, the more planning options may be available.
Yes. Both Chinese and English are part of our day-to-day working languages, and you may use whichever language is more convenient for you. Chinese-language documents do not need to be translated in advance; we can handle the necessary English terminology and interpretation as part of our process.
Official tax filings submitted to U.S. tax authorities are generally prepared in English as required. We will also explain the relevant filings, requirements, and potential implications to you in Chinese.