Shadow Payroll: Staying Compliant When Employees Work Abroad
As companies increase global operations, employers are faced with the complexities of maintaining payroll for U.S. employees working abroad and/or foreign nationals employed to work in the U.S. When employees work in a foreign (host) country and are paid by the home company, the home company must fulfill certain tax obligations in both the host and home countries. Shadow payrolls give payroll managers an effective tool to maintain global payroll compliance.
However, setting up a shadow payroll requires specialized knowledge to do it legally - and can lead to hefty fines if not done correctly. Join us to learn the benefits and risks of implementing a shadow payroll, and if it's the right solutions for your organization. In this 75-minute webinar event we'll cover:
- Why companies should consider using shadow payrolls
- What your shadow payroll must include to stay compliant
- How to account for tax consequences in the U.S and host countries
- IRS requirements and tax policy for expatriate payrolls
- Managing wage reporting and tax withholding in multi-countries
Why Employers Should Consider Using Shadow Payrolls
- What is a "shadow payroll" and is it right for your company?
- Benefits to companies with global operations
- Tool to encourage employees to accept overseas assignments
- Various types of assignments and their challenges
The In's & Out's of Shadow Payroll Compliance & Maintenance
- Defining key terms used in U.S. shadow payrolls
- Handling the biggest challenges of administering a shadow payroll
- What should be calculated, reported, and remitted - and when
- Home vs. host countries: Understanding employer's responsibilities
- Expatriate payroll reporting, taxation policy, and IRS requirements
Taxation Requirements & Considerations of a Shadow Payroll
- Tax equalization, tax protection, and hypothetical taxes
- Steps to avoiding double taxation
- Case studies: Common shadow payroll scenarios
Live Question & Answer Session - Have your questions answered by the expert!
About the Speaker
With over 40 years in the financial industry, David Sanders, PhD. is considered one of the world's leading consultants on all aspects of accounting, domestic and international, including: GAAP, IRFS, inventory management, SOX, International Financial Reporting Standards (IFRS), FCPA - Foreign Corrupt Practices Act, Shadow Payroll Administration, and more.
- David holds numerous degrees including Associate in Accounting, Bachelors in Business Administration, Masters in Taxation and PhD in Finance. He has held positions of Accounting Manager, Corporate Controller, CFO International Corporation, Government Tax Auditor, Business Consultant, and Senior Partner for various Accounting/ Tax/ Auditing firms nationally.
- Having conducted over 10,000 training sessions and webinars, and written books on budgeting, forecasting, strategic planning and thinking, David has a talent for breaking things down into easy-to-understand steps that you can implement immediately.
After attending this important webinar, you'll be able to implement and maintain a shadow payroll for your company. Learn how to account for tax consequences in the US and host countries, IRS requirements and tax policy as they relate to expatriate payrolls, establish strong communications between home and host countries to facilitate wage reporting and tax withholding requirements; and employ best practices to minimize errors.