When Charles is working on a complex tax issue for a client, he typically positions himself next to his ‘old friend’ to dissect the problem and think up solutions. Solid, strong, always patient, and supportive his ‘old friend’ takes the form of a custom built desk. His father had the desk built 50 years ago when he was an executive at Pfizer. As an international executive for the company, he relocated on multiple occasions, the desk always in tow. Spain, Turkey, Egypt, and eight other countries were home to Charles and his family, and his father’s desk, throughout Charles’ childhood. When his father passed away, Charles inherited the desk, which now sits proudly in his office.
Charles alternated semesters between the University of Notre Dame Law School and the M.B.A. program at Columbia University in effort to develop an appreciation for international business like his dad. Before completing his joint degrees, Charles fully expected to be an international businessman who could not be bossed around by the lawyers and the bean counters. Somehow instead, he became an international and corporate tax attorney. And just like his father, Charles plans to keep his desk close to him throughout his travels. When he fondly remembers his father and the sojourns enjoyed as a young man watching him stand behind the desk, Charles likes to think about the “stories the desk would tell if it could speak.”
Charles Kolstad focuses his practice on international tax, corporate, and partnership matters. He assists clients in tax and corporate planning relating to the acquisition, disposition and restructuring of businesses, corporations and partnerships both domestically and internationally. Charles also advises foreign individuals moving to the U.S. on pre-immigration, income, gift and estate tax planning opportunities.
In addition, he advises actors and actresses, musicians, songwriters, producers, directors and financers, both domestic and foreign, on a wide range of individual and corporate tax issues, specific to the entertainment industry. Charles has written several articles and given many presentations on entertainment tax issues.
He has advised over 160 clients with unreported foreign financial accounts, foreign trusts, and other foreign investments, on the filing of FBARs and other information returns, and whether participating in the IRS’s various offshore voluntary disclosure programs is appropriate. Charles has written and lectured on the extensive information reporting requirements for U.S. taxpayers with international business operations.
In addition, Charles has extensive experience in representing clients during audits by the IRS or the California Franchise Tax Board, as well as in front of the IRS Appeals Office or IRS Collection.
- Advised US shareholders in a Canadian entertainment company on sale of company to offshore buyer.
- Advised US entertainment companies on establishment of operations in Canada, US withholding tax issues, Canadian content issues etc.
- Advised nonresident aliens on restructuring of non-US businesses and trusts prior to becoming a US tax resident.
- Advised numerous foreign entertainment companies on the tax issues that arise when they conduct business in the United States.
- Advised numerous US borrowers on US withholding tax and US reporting requirements applicable to foreign lenders.
- Advised US entertainment companies on the income forecast method of accounting; Section 181 expensing of film and TV production costs, capitalization issues, etc.
- Advised actors, actresses, models and others on the US tax issues that arise when working outside the US.
- Advised foreign investors in US real estate purchase and sale transactions.
- Advised US companies on the transfer of intellectual property to a low-tax foreign jurisdiction.
- Advised on numerous tax-free corporate reorganizations.
Other Career Experience
- Counsel, Venable LLP (2009-2017)
- Senior Counsel, Reish Luftman Reicher & Cohen (2006-2009)
- Senior VP, Inventory Capital Group, Inc. (2004-2006)
- Chief Financial Officer, Great Wines International (2003-2004)
- Tax Partner, Ernst & Young LLP (2000-2003)
- Founding Partner, Brand Farrar Dziubla Freilich & Kolstad (1993-2000)
- Law Offices of Charles Kolstad (1992-1993)
- Tax Partner, Coopers & Lyband (1987-1992)
- Associate, Coopers & Lyband (1979-1987)
- June 1, 2017
- Mansion Global, May 25, 2017
- Law360, January 2, 2015
- Law360, December 18, 2014
- Law360, October 16, 2014
- Law360 , September 23, 2014
- CFO Magazine, August 27, 2014
- Fox Business, August 25, 2014
- Law360, August 25, 2014
- Bloomberg , July 28, 2014
- Accounting Today, July 25, 2014
- Daily Journal Quotes Charles Kolstad on Treasury's Push to Limit Corporate InversionsDaily Journal, July 18, 2014
- Daily Journal, May 12, 2014
- United States Chapter, Getting the Deal Through -Outsourcing 2014Law Business Research Ltd, 2014
- Los Angeles Lawyer , May 2014
- Law360 , November 22, 2013
- Los Angeles Lawyer , May 2013
- Economic Daily News (Taiwan), March 13, 2012
- The Wrap , August 8, 2011
- Accounting Today , March 24, 2011
- ABA Section of Taxation , February 14, 2011
- Before You Say Yes and Move Abroad - Six Legal Issues to ConsiderFinancier Worldwide - Global Reference Guide: Employment & Human Resources 2010, November 2010
- Tax Issues Associated with Carbon Trading Assets and the Impact of Proposed LegislationABA Carbon Trading and Energy Finance Committee Newsletter, April 2010
- Los Angeles Lawyer magazine, 25th Annual Entertainment Law Issue , May 2009
- Los Angeles Lawyer magazine, Entertainment Law Issue , May 2007
Events & Speaking Engagements
- Fundamentals of Foreign Trust AdministrationJune 14, 2016
- International Tax Forms and Reporting RequirementsMay 18, 2016
- Corporate Inversions: Liabilities and ExpectationsMay 20, 2015
- State Taxation of Income From Foreign AffiliatesMarch 11, 2015
- Fundamentals of Foreign Trust AdministrationMarch 11, 2015
- Engaging Accountants and Tax Attorneys in Multiple JurisdictionsJanuary 21, 2015
- International Tax Forms and Reporting RequirementsJanuary 7, 2015
- November 19, 2014
- Fundamentals of Foreign Trust AdministrationNovember 5, 2014
- Form 8865: Reporting Foreign Partnership IncomeSeptember 23, 2014
- Cross-Border Money Transfers: Key Requirements and Pitfalls Every U.S.-Based Nonprofit Needs to KnowSeptember 13, 2014
- Bitcoin: Legal Fee or Foe?August 21, 2014
- Pre-Immigration Tax Planning for Foreign ClientsJuly 7, 2014
- May 29, 2014
- State Taxation of Income From Foreign AffiliatesFebruary 12, 2014
- Engaging Accountants and Tax Attorneys in Various JurisdictionsDecember 10, 2013
- Legal Quick Hit: "Your Nonprofit Has Gone Global: Now What Are Your U.S. and Foreign Tax Compliance and Reporting Obligations?"November 13, 2013
- Form 8865 - Foreign Partnership IncomeNovember 8, 2013
- International Programs and Activities: Compliance IssuesMay 14, 2013
- As Nonprofits Expand Their Global Reach, a Special Focus on Tax, Trademarks and the Foreign Corrupt Practices ActMay 23, 2012
- Foreign Account Tax Compliance Act - How Does It Affect NFFEs and IndividualsFebruary 8, 2012
- Foreign Tax Reporting: FBARs & BeyondFebruary 10, 2011
- February 7, 2011
- November 24, 2010
- October 19, 2010
- Form 5472 -What Everyone Should KnowJune 16, 2010
- May 18, 2010
- February 22, 2010
- Taxation of Foreign Operations -Rules and Planning OpportunitiesDecember 2009
- Taxation of Cross Border Mergers & Acquisitions TransactionsSeptember 10, 2009