Beyond Accounting Bitesize

Foreign trusts are where some of the most expensive surprises in cross-border tax live. A trust quietly settled overseas — sometimes years before anyone in the family imagined moving to the United States — can trigger deemed realization events, punitive throwback taxes, and reporting obligations that catch families completely off guard.In the final episode of Navigating the Expatriate Tax Maze, Peter Trieu of BDO walks through:What actually makes a trust "foreign" in the eyes of the IRS (the control test and the court test)The critical difference between foreign grantor trusts and foreign non-grantor trustsHow distributions to US beneficiaries are taxed — and why the throwback tax regime is so punishingThe 5-year rule that pulls pre-immigration trusts back into the US netThe deemed-sale trap when a foreign grantor trust converts to a non-grantor trustForm 3520 and 3520-A reporting requirements every US beneficiary and grantor needs to knowA fitting close to the series — and a reminder that with foreign trusts, planning ahead is everything.If anything in this series raised questions about your own situation or your employees', Dave Zydek and Peter Trieu welcome a direct conversation. Contact details and the full series are available at cawnetworkusa.com.Brought to you by CAW Network USA in partnership with BDO.

The US gift and estate tax is one of the most misunderstood areas of cross-border planning — partly because "resident" means something completely different here than it does for income tax. You can be a US income tax resident and still not be domiciled in the US for estate tax purposes, and that distinction can be worth millions of dollars.In part 4 of Navigating the Expatriate Tax Maze, Peter Trieu of BDO lays out:The domicile test for estate and gift tax — a facts-and-circumstances analysis very different from the income tax bright-line rulesThe $15 million lifetime exemption available to US-domiciled individualsThe much smaller $60,000 exemption that applies to non-residentsThe 40% rate that kicks in above the exemption thresholdsThe curious dual treatment of US stocks — tax-free to gift as intangibles, but fully taxable in the estate at deathPlanning moves for non-residents holding US-situs assetsShort, sharp, and essential for anyone with cross-border family wealth.Brought to you by CAW Network USA in partnership with BDO.

Giving up US citizenship or handing back a long-held green card sounds like a clean break — but the US tax system has other ideas. Since the HEART Act of 2008, expatriating Americans and long-term green card holders can be hit with a mark-to-market exit tax that treats nearly everything they own as if it had been sold the day before departure.In part 3 of Navigating the Expatriate Tax Maze, Dave Zydek and Peter Trieu of BDO unpack:Who counts as a "covered expatriate" — and the three tests that pull you into the regime (tax liability, net worth, and certification)Who qualifies as a long-term green card holder (the 7-year rule)What the mark-to-market exit tax actually looks like in practiceThe 30% tax on future distributions from non-grantor trusts to former covered expatriatesThe 40% inheritance-style tax on US persons receiving gifts or bequests from covered expatriatesPlanning moves to avoid covered expatriate status — including primary residence sales, lifetime gifting, and spousal transfersEssential listening for anyone considering expatriation or advising clients who are.Brought to you by CAW Network USA in partnership with BDO.

If you're a foreign national living in the United States and you hold a mutual fund, hedge fund, or private equity interest outside the US, there's a very good chance you own what the IRS calls a Passive Foreign Investment Company — or PFIC. The rules around PFICs are among the harshest in the entire US tax code, and getting them wrong can be enormously expensive.In part 2 of Navigating the Expatriate Tax Maze, Dave Zydek of BDO walks through:What actually makes a foreign investment a PFIC (the income test and the asset test)The three tax regimes you can fall under: the default method, the QEF election, and the mark-to-market electionWhy the default method can push your effective tax rate above 40% or even 50%The Form 8621 disclosure requirements — and why missing one can leave your US tax return open to audit indefinitelyCommon exceptions, including PFICs held inside treaty-recognized retirement plans like UK SIPPsPractical, plain-English guidance for anyone managing foreign investments while subject to US tax.Brought to you by CAW Network USA in partnership with BDO.

The US tax system can feel less like a framework and more like a minefield — especially if you're a foreign national living and working in the United States, or an employer responsible for international talent.In this opening episode of our 5-part series, Navigating the Expatriate Tax Maze, host David Powell introduces your guides: Dave Zydek, Tax Managing Director in BDO's Private Client Services practice, and Peter Trieu, Tax Principal based in San Francisco. Both work daily with high-net-worth individuals and family offices navigating complex cross-border tax issues.Dave and Peter set the stage, recap the foundational topics covered in part one of this webinar series (available on cawnetworkusa.com), and lay out the four deep-dive topics ahead: passive foreign investment companies (PFICs), the US expatriation tax, gift and estate tax for foreign nationals, and foreign trusts.Whether you're planning ahead or playing catch-up, this series is packed with practical insights to help you stay compliant and tax-efficient in the US.Brought to you by CAW Network USA in partnership with BDO.

The U.S. tax system is complex enough for domestic taxpayers — for foreign nationals living and working in America, it can be a whole different challenge. In this episode, BDO's Dave Zydek and Peter Trieu, both specialists in private client tax services, break down the cross-border tax issues that catch expatriates off guard most often.From understanding your obligations as a U.S. taxpayer to the mechanics of exit tax, passive foreign investment company (PFIC) compliance traps, and the intricacies of foreign trusts, this session covers the issues that matter most — with practical planning strategies you can act on.Produced in association with BDO as part of a CAW Network USA webinar series. For part one of this series, visit CAWNetworkUSA.com.

What are today’s biggest human skill blind spots?In the final episode, we explore findings from 2,700+ data points analyzing Gen Z professional development — revealing:Decision-making as a strengthLeadership as a weaknessEmotional intelligence declining with ageFeedback avoidance as a critical barrier

Are human skills really measurable — or are they just personality traits?In this episode, we explore the research behind Livre’s 31-skill human skills framework and how it groups communication, emotional intelligence, leadership, self-management, and more into quantifiable components.Key insights include:Why soft skills feel “fluffy” — and how to demystify themThe seven core skill categoriesThe power of structured experiential learningWhy AI enables personalized development at scaleThe case for simulation-based learningIf leadership and communication can be broken into repeatable behaviors, they can be trained — and tracked.This episode moves from problem to practical solution.

Why are technically brilliant professionals struggling in the workplace?In this episode, Bartek shares the moment that triggered his mission: high-performing audit trainees being removed from client engagements — not for lack of intelligence, but for lack of communication and interpersonal skills.Drawing on research from Deloitte, Oxford, and global workforce studies, we explore:Why “soft skills” should be called human skillsThe generational shift impacting workplace readinessThe impact of AI and remote work on interpersonal developmentWhy 7 of the World Economic Forum’s top 10 skills are human-centeredThis episode sets the foundation: technical competence gets you hired — human skills determine your trajectory.

Career Conversations | Chartered Accountants Worldwide Network USAWhat happens when a Chartered Accountant decides to swap the audit file for a sales pitch? In the latest episode of our Career Conversations series, Nancy Chakabuda sits down with Breiffni O'Donnell CA — VP of Commercial, Legal & Accounting Solutions at Propylon — for a candid, energising conversation about an unconventional career path, the real value of the CA qualification, and why AI might just be the most exciting thing to happen to the accounting profession in a generation.A Commerce Graduate Who Didn't Like Accounting (At First)Breiffni opens the conversation with a refreshingly honest admission: when he was studying at university in Galway, Ireland, he wasn't exactly a fan of his accounting and audit modules. It was a summer placement — implementing a CRM system integrated with an accounting package — that changed everything. Suddenly, he could see what the numbers were actually for: driving real business decisions, building dashboards for leadership, telling the story behind the data. He was hooked.He went on to qualify with Chartered Accountants Ireland and spent three years in practice at Hogan Associates in Dublin, auditing a diverse portfolio of companies and gaining exposure to business models, revenue structures, and — crucially — how to hold your own in a room with senior executives.The Phone Call That Changed EverythingBreiffni had made no secret to his partners at Hogan that he wanted to live in New York. They promised to get him there within two years. Thirty minutes later, one of the partners called him back: how would you like to go in six months? The partner had invested in a company — Propylon — that was expanding into the US and needed someone to open their New York office. Breiffni took the leap.That pivot from audit to sales and business development turned out to be the making of his career. He subsequently worked across several companies in FinTech and LegalTech before returning to Propylon, which was later acquired by global language and content services company RWS. Today, he describes his role not as sales, but as consultative — using his accounting background to speak the language of the firms he works with, build a credible business case, and demonstrate genuine value to finance leaders."Accountants Are Some of the Most Exciting People I've Met"Ask Breiffni about the biggest misconceptions around the profession and he doesn't hold back. Yes, he's heard the "accounting is boring" line — and he firmly disagrees. He points out that a striking proportion of FTSE 500 CEOs have an accounting background, and that the CA qualification does far more than teach you to reconcile a balance sheet. In his view, the strategic thinking and business acumen built into the CA programme is the equivalent of a Master's degree — a foundation that sets you up not just for finance, but for leadership across every sector.AI, Agentic Tools, and the Need for GuardrailsThe conversation takes a fascinating turn when Nancy asks Breiffni about AI. At Propylon, the team builds content management systems specifically for audit, accounting and tax firms — platforms that help organisations keep their policies, methodologies and guidance current across multiple jurisdictions and languages. AI integration is now central to that work.Breiffni describes two compelling use cases his team has been developing: an AI-powered search tool that references both external standards and internal firm guidance, and agentic AI workflows that can autonomously monitor firm policies, flag outdated content, identify contradictions, and surface potential gaps in regulatory coverage — with a human always in the loop.But he's also clear-eyed about the risks. He shares a vivid example of an AI agent tasked with maximising profits on a virtual vendi

Greenwashing. ESG ratings inconsistencies. Assurance gaps. This final episode tackles the credibility challenge facing sustainability reporting. What must change for ESG disclosures to achieve the rigor of financial reporting? And how will the accounting profession evolve in response?Slide packs and further information are available at: https://cawnetworkusa.com/webinar/beyond-accounting-sustainability-reporting/

What happens when sustainability reporting moves beyond compliance? In this panel discussion, industry leaders share real-world examples of how ESG drives operational improvements, procurement strategy, innovation, and value creation. From green bond financing to infrastructure resilience, this is sustainability in action.Slide packs and further information are available at: https://cawnetworkusa.com/webinar/beyond-accounting-sustainability-reporting/

Sustainability reporting is no longer optional — but what does it actually mean? In this episode, we break down the difference between sustainability and ESG, explore the evolution of reporting standards, and examine the frameworks shaping global disclosure. From GRI to IFRS Sustainability Standards, this is your foundation for understanding where reporting is heading.Slide packs and further information are available at: https://cawnetworkusa.com/webinar/beyond-accounting-sustainability-reporting/

In this live Q&A session, moderator Shane Rogers brings together leadership coach Brian Jones and finance executive Nikki Mamedova for an engaging, candid conversation about the realities of modern leadership.The discussion covers the value of coaching, why culture “eats strategy for breakfast,” and how leaders can reset disengaged or underperforming teams. The panel also dives into the evolving role of AI, exploring how leaders can embrace emerging technology while staying grounded in human behaviours, influence, and communication.Packed with practical insights, honest reflections, and memorable takeaways, this episode brings the entire leadership series together in a dynamic and relatable way.

In this episode, we hear from assurance leader Shane Rogers, who draws on experience in internal audit, public accounting, sales, strategy, and risk management to explore what leadership really looks like in assurance functions. Shane unpacks the importance of challenge, trust, informal influence, communication, and how assurance teams can become catalysts for positive change across the business.

Global leader Nancy Chakabuda delivers a thoughtful and practical session on cultural leadership in multinational teams. Nancy breaks down why culture is “a shadow of its leader” and outlines the communication differences, value conflicts, stereotypes, and societal influences that make global leadership uniquely complex.She introduces cultural intelligence and cultural adaptability as essential competencies, explaining how leaders can intentionally build knowledge, demonstrate sensitivity, and leverage shared values to unite diverse teams.Nancy also shares a practical framework — Invest, Clarify, Exchange — for embedding cultural awareness into team structures, decision-making, and daily interactions. She closes with a deep dive into bias, offering tangible practices for self-reflection, feedback, diverse hiring, ideation, and making inclusiveness a measurable KPI.A vivid and actionable exploration of what modern global leaders need to thrive.

Finance executive Nikki Mamedova breaks down what it truly takes to build and sustain high-performing teams — far beyond corporate slogans. She opens with the essentials: clear goals, open communication, trust, and an active effort to avoid favoritism. Nikki also explores the power of simple appreciation, how leaders can advocate for their teams, and why opportunities for growth matter more than people think.From there, she moves into the realities of cross-functional collaboration, sharing practical advice on shared goals, clarifying roles, managing dependencies, fostering transparency, and celebrating joint wins. Nikki closes with an unfiltered look at navigating internal politics, building strategic relationships, understanding company dynamics, managing conflict, and finding allies who will advocate for you when you’re not in the room.This session is packed with actionable guidance for leaders at every level.

In this episode, we’re joined by leadership coach and former reinsurance executive Brian Jones. Drawing on more than 25 years of global leadership experience, Brian talks through the core areas leaders must master — from building strong teams and setting priorities to understanding customers, markets and culture. He also explores common failure modes and what effective leaders do differently

This extended panel tackles the human side of AI: skills mid-career accountants need to let go of, how to train teams to think critically about AI-generated outputs, and what it means to trust (but verify) machine reasoning. You’ll hear about failures in finance transformation, strategies for AI adoption in legacy systems, and how emotional intelligence remains irreplaceable — even in an automated world. A powerful close to the series.

EY’s Myles Corson introduces a compelling insight: many finance leaders say they want to create value, but most of their work still centers on protecting or optimizing it. Nikita Clawson (CFO, Mount Logan Capital) joins in to explore how AI can bridge that gap — especially through predictive analytics, smarter hiring, and finance-front office collaboration. The conversation shifts the lens from operational efficiency to strategic relevance.

Nicola Bain (CLA) outlines her firm’s half-billion-dollar AI transformation plan, with insights on digital scaling, workforce development, and client enablement. Ariel Finkelstein follows with a strategic “reality check,” stressing that AI should be grounded in your business mission — not adopted for novelty’s sake. He discusses optimal workforce design, AI skill gaps, and the evolving future of tools like Excel. If you’re shaping AI strategy at any level, this is your starting point.

In this thought-provoking panel, the speakers tackle the complex human dimensions of AI adoption: ethics, trust, regulatory concerns, and change management. How can accountants be sure AI is safe and accurate? What’s the role of regulators, and when will they catch up? The panel shares perspectives on human-in-the-loop systems, education reform, and the future role of the accountant as both tech user and ethical steward. There’s a clear call to action: don’t wait — the AI wave is already here.

Chris Easton walks us through the development of a vertical AI solution for the airline industry — a domain-specific, reasoning AI that transforms how flight networks are planned and optimized. While not accounting-specific, this case study offers crucial insights into how similar models can be applied to audit, tax, and financial reporting. Chris demystifies the architecture behind multi-agent AI, orchestration tools, and MCP servers — and explains why accuracy, trust, and privacy are critical. A must-listen for accountants curious about the “how” of AI systems.

Ian Browne shares how Chartered Accountants Ireland is using adaptive learning and generative AI to personalise and scale accountancy education. We learn about their partnership with Area9 and how AI helps maintain optimal learning “flow,” increase retention, and provide real-time insights to both students and training firms. Ian also discusses the role of subject matter experts in this new AI-enhanced ecosystem, and how administrative burdens are being reduced to focus more on high-value learning.

In this opening episode, John Munnelly from Chartered Accountants Ireland takes us on a journey through the technological revolutions that have shaped accountancy — from spreadsheets and ERP systems to RPA and blockchain. We hear how the profession has always adapted, and why AI presents a unique moment of transformation. John outlines the Institute’s research and educational approach to future-proofing accountants, spotlighting “transversal skills” like ethical thinking and professional skepticism.

Era of Energy Disruption Ep 5 feat Barbara Porco, Gerard Reid & Shane Rodgers .wav

Resilience is more than a buzzword — it's a financial imperative. This episode explores how risk and opportunity are two sides of the same coin, and why proactive finance leaders are key to navigating disruption. From ESG evolution to systems thinking, discover the strategic role accountants must play in driving sustainable value.

Energy is no longer just a commodity — it’s a geopolitical tool. This episode examines how conflict, sanctions, and energy dependencies are influencing markets, spiking inflation, and redrawing the map for supply chains and corporate resilience. Discover why accountants and finance professionals need to think like risk strategists.

Global ambitions for decarbonization face a reality check. In this episode, we take a close look at the structural barriers to phasing out fossil fuels, the gap between policy and implementation, and the unintended consequences of moving too fast or too slow on climate action. It’s a candid conversation that cuts through idealism to focus on real-world economics and transitions.

This first episode in the series 'The Era of Energy Disruption'  introduces the concept of the “polycrisis” — the interlocking challenges of climate change, inflation, energy disruption, and geopolitical instability. Learn how CPAs can interpret this moment of change and why risk literacy is becoming essential in the boardroom and beyond.

In this third episode of Beyond Accounting Bitesize, BDO’s John Nuckolls unpacks the intricacies of U.S. gift and estate tax laws as they apply to non-U.S. citizens. The episode addresses key topics including inheritance from foreign relatives, the crucial IRS Form 3520, and the implications of receiving gifts from covered expatriates. John also explores the differences between income and estate tax residency, the traps of U.S. situs assets, and the importance of timely estate planning—especially for immigrants holding U.S. real estate or stock. Essential listening for cross-border individuals and advisors navigating complex U.S. tax obligations.Download a PDF presentation that goes with this podcast at the following URL: https://cawnetworkusa.com/wp-content/uploads/2025/02/Common-US-Tax-Pitfalls-for-Foreign-National-Taxpayers.pdf

In this episode of Beyond Accounting Bitesize, BDO’s Mark Orman dives into the complexities of U.S. tax rules for non-U.S. citizens. From foreign pension and retirement plan treatment to departure year considerations and the potential impact of expatriation tax, Mark offers practical insights for globally mobile professionals. The discussion also highlights planning opportunities before U.S. relocation, key treaty implications, and how employer programs can ease the tax burden. In the second half, we explore the future of accounting in the age of AI, touching on ethics, skills gaps, and how technology is reshaping the profession. Don’t miss this informative and forward-thinking episode.Download a PDF presentation that goes with this podcast at the following URL: https://cawnetworkusa.com/wp-content/uploads/2025/02/Common-US-Tax-Pitfalls-for-Foreign-National-Taxpayers.pdf

In this kickoff episode of Beyond Accounting Bitesize, Dave Zydek of BDO guides listeners through the complex terrain of U.S. income, gift, trust, and estate taxation for foreign nationals living and working in the U.S. From the substantial presence and green card tests to the impact of FATCA, PFICs, and foreign disclosure requirements, this episode is packed with essential information for globally mobile professionals. Dave also addresses real estate considerations, foreign currency gains, and the implications of holding non-U.S. entities. It’s a must-listen for anyone navigating cross-border tax challenges and compliance in the U.S.Download a PDF presentation that goes with this podcast at the following URL: https://cawnetworkusa.com/wp-content/uploads/2025/02/Common-US-Tax-Pitfalls-for-Foreign-National-Taxpayers.pdf

Sinead Donovan - Newly elected President at Chartered Accountants Ireland discusses her plans for the upcoming year including her upcoming visit to New York on Oct 23. 

The show outlines some real-life use cases of Chat GPT that are being used in risk management today.

Are you looking to grow in your role? Or find a position that will fulfill you? Here are some practical tips that are applied by business leaders in growing professionally and developing high performance teams. 

Risk management is an ever growing area of focus for organizations and Accountants are uniquely positioned for a transition into these roles. Marc Walby shares tips for accountants exploring a move and how to land a role as a non-executive director at a non-profit organization

The Role of Auditors – What we do mattersKathryn Kaminsky, Vice Chair and Co-Leader at PwC’s US Trust Solutions, talksabout her journey to become a leader in audit, PwC’s initiatives to attract talentand concludes with her tips for supporting diversity initiatives. Kathryn startedout with a different background and went to school part-time while working full-time before becoming a CPA.We discuss her journey and her tips for auditors who are looking toadvance their career, including: The benefits of working in audit and the opportunities that it brings Her journey and learnings on her path to become an audit leader Best practices for becoming client-focused What it takes to be a leading auditor Reimagining the people experience at PwC Her tips for supporting diversity initiatives