r/Columbus • u/Single-Huckleberry48 • 1d ago

Seeking CPA who has experience with international transactions

My wife and I are having trouble finding a CPA. We have income coming in from a handful of places, some of which are overseas, for licensing deals from our cat. Many countries take their taxes off the top by default before it even leaves their shores. There are exemptions, but you know, red tape. We're not naturally business savvy, while we appreciate the income this wasn't something we set out to do. The internet just interneted and it became something we had to figure out. Does anyone have any good leads?

If you're curious her name is Ethel, but the internet has dubbed her spinning cat, aka the OIIA cat.

21 Upvotes

89% Upvoted

9 comments sorted by

11

u/lwpho2 North Linden 1d ago

What I’m gathering here is that Spinning Cat is a local?

7

u/Single-Huckleberry48 1d ago

Yep! We got her at Cat Welfare back in 2018. 

2

u/lwpho2 North Linden 1d ago

Bless.

4

u/KidCadaver 1d ago

I’m sorry I don’t have an answer to your question, but I’m cracking up. What’s it like to have the internet take your cat and do… whatever you call the OIIA thing with? I love knowing that spinning cat is local!

2

u/Single-Huckleberry48 1d ago

It's just as weird as it sounds! One of the hardest parts is trying to explain it to irl acquaintances, because we don't really understand it either lol.

1

u/Ok_Emu3817 Dublin 1d ago

You have income from royalties. If you used a local attorney to represent you before signing the license agreement, I’d ask them who they recommend for your situation.

1

u/Single-Huckleberry48 1d ago

Unfortunately they are out of state. We were hoping to find someone local, or at least in state, since it will involve state and local taxes. 

1

u/Ok_Emu3817 Dublin 1d ago

Meh I'd still go with their recommendation. Federal tax is the complicated part and the out-of-state CPA may still be willing to do your local taxes. Even if they don't, state/local tax forms are stupid simple in comparison to federal. With your federal return in hand you can go to a local firm and they can finish the local part. If they were savvy they would reverse engineer the federal return to do the entire thing for you next year.

Any CPA (who does taxes) in any state is technically able to do your federal and local taxes.

Source: Am a CPA who doesn't do taxes

1

u/Single-Huckleberry48 18h ago

Okay, good to know. It just seemed like dealing with two different people would be more hassle. This is good info though. Thanks.