When you own a business across the world, the US remains an untapped market with limitless potential. While business leaders can invest years of planning into expanding internationally, nothing compares to the benefits gained from first-hand experience. One critical area that can be overlooked is developing a tax strategy to protect your business at home while optimizing your expansion into the United States. Not every accountant, even those based in the United States, has the expertise or knowledge to optimize business expansion. When you work with an international tax consultant, you can work with someone who has been through the expansions process numerous times. The guidance you receive comes from first-hand knowledge.
Even if you know there is an opportunity in the US market, committing to expansion comes with a host of concerns, from scaling production to marketing, hiring, and distribution. One of the most critical aspects of expanding into the US market is preparing for global, federal, and local taxes.
An international tax consultant can help you select a market with tax advantages and alleviate early concerns about meeting tax regulations with your expansion. Growing your enterprise comes with unexpected challenges. When you partner with an experienced consultant, you ensure you won’t over-extend your organization or be crippled by unforeseen tax issues.
Unfortunately, tax law doesn’t remain constant year after year. Even if you have team members who are well-informed about tax issues, new regulations can render their expertise outdated in as little as a year. Even if your in-house tax knowledge keeps your organization legal, you could be missing out on new opportunities to reduce your tax burden.
International tax consultants spend their careers working in tax law. They’re well-informed about recent and upcoming changes, so they can develop a tax strategy that minimizes your tax obligation and supports your bottom line.
The costs of going it on your own for a market expansion into the US can include paying penalties, higher tax rates, and compounding inefficiencies. One of the most common mistakes companies make is having a static operational structure that cannot adapt to a new market.
Accountants Without Borders connects international companies with tax consultants familiar with their industry and business. In addition to the benefit of expertise in global and US tax regulation, you partner with a professional who has helped other organizations like yours successfully expand into a new US market.
Even if your company experiences yearly or quarterly profit growth, the dynamic nature of the global economy can leave your organization behind if you don’t have a nimble structure.
If a US expansion isn’t in your near future, consider meeting with an international tax consultant. They’ll show how restructuring can better position your company to adapt to evolving markets in the future.
Accountants Without Borders pairs businesses with international accountants who have the skills and expertise to help them expand into US markets with potential for profit from day one. Whatever you need, from tax strategies and planning to consultant services, we’ll pair you with an international tax consultant with years of experience working in your industry and market. Our goal is to help worldwide businesses achieve ongoing growth and success in the US with thoughtful, customized tax planning.
Reach out to our team whatever stage you’re in of expansion and growth, from early planning to action. We’ll connect you with the ideal international tax consultant.
