An Introduction to the IC-DISC:  Reduce your client's federal income tax on Exports from the United States

Instructor: Paul Ferreira, CPA

CPE Credits: 1.0 Tax

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https://us06web.zoom.us/j/87065371548?pwd=eGJnOHJLWE1qV003b1FyT2VyTWxOdz09

Meeting ID: 870 6537 1548

Passcode: 794400

This program will cover the Interest Charge-Domestic International Sales Corporation (IC-DISC). The IC-DISC reduces federal income tax on export sales for privately-held companies in the United States. Clients in various industries, such as agriculture, architecture, manufacturing, distribution, and software, can take advantage of the IC-DISC.

The IC-DISC allows some or all of the taxable income on export sales to be taxed as a qualified dividend, subject to a reduced tax rate for U.S. individual taxpayers and trusts. Although the federal tax benefit calculation is very complex, the IC-DISC is non-invasive to your clients. No aspect of your client's daily operations will change with an IC-DISC.

The IC-DISC is very complex and will be broadly covered during the presentation.  But, first, we will discuss structuring the IC-DISC and the calculation of the federal tax savings under IRC Secs 861-8 to 17 and 991-997, and the compliance requirements of the IC-DISC. We will also copver indirect export sales, transportation property, and other sales that qualify for the IC-DISC benefits.

Paul is the president and founder of Export Tax Management. With over 25 years of experience, he serves exporting companies and CPA firms throughout the United States, and delivers the most federal tax savings with an IC-DISC available under the Internal Revenue Code.