Thank you for sharing on the complex topic on you tube. I just happened to see it today. You did a nice presentation by showing examples, made the topic a bit easy understandable. I have a question. You P& L does not list foreign tax paid to get net income after tax. If yes, the foreign tax paid is a deduction to calculate sub part F income, not taken as a foreign tax credit, right? Just want to clarify. Thank you.
If an upper-tier CFC ("Upper") receives a dividend from a lower-tier CFC ("Lower"), where all of Lower's e&p is taxed to US shareholder of Upper under GILTI, and where Upper's entire e&p is the dividend from Lower (minus some admin expenses), then when preparing Upper's Sch J, it's not clear from the instructions whether you put Upper's e&p on Line 3, or Line 4, or both (in which case you'd be double counting and need to negative it somewhere), and in which column. Very confusing! Any ideas?
Why more complex tutorials in the future? What about simple ones like for US entrepreneurs who own CFCs and this is their only income, etc. Or is the market too thin? Thanks-I did learn a bit from this one!
Thank you very much for your time and effort! I would never have understood this form without your explanations.
Happy to help!
Thanks for the helpful videos!
I can't afford a tax preparer this year and you're saving my ass. Thanks.
Excellent explanation for beginner of form 5741. Thanks a million!
Very Well explained this Schedule Thanks...you really simplified it by your way of explaination😊
Thank you for sharing on the complex topic on you tube. I just happened to see it today. You did a nice presentation by showing examples, made the topic a bit easy understandable. I have a question. You P& L does not list foreign tax paid to get net income after tax. If yes, the foreign tax paid is a deduction to calculate sub part F income, not taken as a foreign tax credit, right? Just want to clarify. Thank you.
Cayman island has no income tax
If an upper-tier CFC ("Upper") receives a dividend from a lower-tier CFC ("Lower"), where all of Lower's e&p is taxed to US shareholder of Upper under GILTI, and where Upper's entire e&p is the dividend from Lower (minus some admin expenses), then when preparing Upper's Sch J, it's not clear from the instructions whether you put Upper's e&p on Line 3, or Line 4, or both (in which case you'd be double counting and need to negative it somewhere), and in which column. Very confusing! Any ideas?
Why more complex tutorials in the future? What about simple ones like for US entrepreneurs who own CFCs and this is their only income, etc. Or is the market too thin? Thanks-I did learn a bit from this one!
Can you please make video on form 8992? Thank you
Yes! We will add that to our tutorial list. Stay tuned!
@@JasonDKnott have you added 8992 video?
Also can you please make a video on tested income calculation with an example?