#MeetTheMember: Peter Frank, CPA & Musician

Member news | May 11, 2020

In our latest Meet The Member feature, we spoke with Peter Frank, CPA, CITP, and Partner at Schulman Lobel, LLP.

Peter works with start-up, scale-up and established businesses, developing long-term relationships and advising on many areas of their business. Peter actively assists foreign nationals to navigate the tax and business issues of operating in the U.S. and also helps U.S. expatriates and non-residents to coordinate their U.S. and international tax compliance needs with professionals in other countries.

Read more to learn from Peter's expertise on tax and business issues for operating as a foreign company in the U.S. and see how Peter passionately balances his professional life with his music career!

FACC: What are the common tax and business issues of operating in the U.S for the foreign clients you consult and what are your best practices for assisting them?

One of the many issues that are confusing enough to U.S. persons and even more complicated for foreign persons and businesses to understand is the varying requirements of the different states and localities in the U.S. It’s important to be aware of where and how your business will be operating before you begin, as each state has its own compliance and regulatory issues.

Other items to consider are:

  • Will you have a physical presence or only an internet presence in the U.S.?
  • This might affect which states you will have a requirement to file taxes in
    • How will you open a bank account if you don’t have a physical presence?

FACC: What has been the most rewarding project you have worked on this year? Why so? (Not necessary to name the client)

One of my film clients is a U.S. filmmaker, who’s latest project utilized a combination of Belgium and Canadian tax credit to help finance the picture. This required interfacing with a number of accountants and attorneys in those countries as well as the UK.

FACC: Word on the street is you are also a performing musician. What led you to this aspect of your life and how do you find in your career for your passion?

I started in 4th grade and haven’t stopped playing and performing. Sometimes I say that accounting is my hobby that makes me more money than my career as a musician! At this point in my life, I’m looking to step up the music game, check out www.peterfrankmusic.com and my recent album entitled Comin’ Back Around.

Interested in connecting with Peter? Log into the FACC Member Directory to send him a message.