Onshore reporting for offshore accounts — how do you handle it?
I'm still learning the ropes on structuring things internationally for a small, growing e-commerce venture. We've got a decent setup with a compliant offshore bank account, but I'm finding the onshore reporting requirements, particularly for annual tax filings, to be a real headache. It seems like there's always a new form or a nuanced interpretation of an existing one, especially concerning beneficial ownership and FATCA. For those of you running similar setups, do you typically outsource this entirely to a specialized accountant, or do you have an internal process that handles the regular filings and disclosures efficiently? I'm trying to figure out the most cost-effective and compliant long-term solution. Any practical insights would be appreciated.