Greg: This is PKF Texas, the Entrepreneur’s Playbook. I’m Greg Price, director of consulting solutions and I’m here again with Frank Landreneau, a director in our international tax practice at PKF Texas. Frank, welcome back to the Playbook.
Frank: Thanks, Greg. It’s great to be back.
Greg: So Frank, the last time you were here we talked about international tax treaties and the impact once you’re established in these countries. Can you elaborate a little bit on that and tell us a little bit more about what that could mean to an entrepreneurial owner?
Frank: Absolutely. Once an entrepreneur begins operations overseas at one point, whether it’s sooner or later, that entrepreneur would like the profits to be repaid trade back to the United States and not to keep the foreign profits outside the U.S. forever. And when that happens a lot of the questions come about as to, “How do I do that and not get killed on taxes?” And so with the use of tax treaties that many of our trading partners such as Canada, Japan, et cetera have, you can minimize your tax exposure when you bring that money back to the United States.
Greg: Frank, that sounds like it’s extremely complicated and requires someone with a deft touch like yourself. Would this be something that we’d wanna advice our friends and clients to get with you on?
Frank: Absolutely. We can help with those kinds of things. In fact, that’s a big part of what we do is figuring out whether a particular client wants a repatriation strategy. That calls for one type of structure versus a, what we call a “reinvestment strategy” which calls for another type of structure and so we can assist with that planning.
Greg: Now I understand why all our affiliated firms are reaching out to you and the guys in the international area here at PKF Texas. You clearly have some expertise in an area that a lot of people need.
Frank: Thanks, Greg.
Greg: Well, Frank, we’ll have you back another time on the Playbook and we’ll talk about some more international tax matters.
Frank: I appreciate it. Be glad to come back.
Greg: This has been another thought leader production brought to you by PKF Texas, The Entrepreneurs Playbook. Tune in next week for another chapter and if you’re looking for more resources for manufacturing and distributors go to PKFTexas.com/manufacturing.