Before she became an international tax professional, Marcela Kane enjoyed an extensive education that saw her study in both Bogota, Colombia and Houston, Texas. New college students often struggle with the responsibility of studying in their own time, so try to keep the following pointers in mind to make sure you get into a good routine and learn everything that you need to know.
Create A Schedule
It is important that you understand the time restrictions that you will face as a student, especially if you are working a part-time job while studying. As such, you should consider creating a schedule that maps out when you intend to study and how long for. Write it down so that you can view it regularly, as this will make it more likely that you will follow it.
Find A Good Study Area
While it is not always possible to convert your dorm room into a study area, especially if you are sharing it with somebody else, you will need to find somewhere to conduct your studies without interruption. Ideally, your study area will be devoid of distractions, well-organized and free of clutter, in addition to providing plenty of light so you can avoid issues related to fatigue.
Make Time For You
Marcela Kane studied extensively to receive her Masters in both Tax and Law. However, it is also important that you understand the negative effects that burnout can have on your studies. Take some time for yourself to relax and do things that take your mind off work, without going so far as to neglect your studies completely.
Having worked as an international tax professional for more that fifteen years, Marcela Kane understands the complexities of tax planning on a global scale. There are many things that you need to consider when creating tax plans for entities outside your country of origin, so try to keep all of the below in mind to ensure your plans are legal and relevant.
Read The LawMany of the countries that you work in as an international tax professional will have different laws in place for taxation than your country of origin, which means it is vital that you stay up-to-date on what’s happening. Trying to create plans based on limited knowledge could result in laws being broken, which can have negative ramifications for both you and your company.Documentation Is KeyThose who work in the financial sector should already understand the important role that proper documentation plays in terms of keeping accurate records and ensuring that they have the figures to back up their plans. Working in international tax will often result in more documentation being created, so it is important that you pay proper attention to this issue and file documents accordingly so that they can be accessed when needed.Start EarlyMarcela Kane has been creating international tax plans for a large portion of her career. It is crucial that you do not procrastinate if you are to create comprehensive plans, as leaving work until the last minute results in it getting rushed. This will often mean that your plans are incomplete, resulting in them failing to provide adequate benefits to your company.
Throughout the course of her career, Marcela Kane has provided mentorship to a number of her team members with the goal of helping them to develop professionally. If you are in a position to provide mentorship to others, it is important that you do what you can to develop your skills by considering all of the following pointers.
While it is important that you impart wisdom on your mentees when appropriate, you also need to understand the crucial role that listening plays. If you don’t, you may find that you struggle to get to the root of the issues that your mentees are dealing with, which could lead them to seek mentorship from others who are more capable of fulfilling their needs.
There is a fine line between offering guidance to somebody and doing work for them, so it is important that you take steps to not cross this line. Your role as a mentor is to help others with their professional developments, so you need to understand that offering point blank solutions is not the best way to go about things. This will prevent others from figuring out problems on their own and make them overly-reliant on others for solutions.
Use Your Experience
Marcela Kane Lantrip has more than fifteen years of experience working in international tax. Your experience will prove crucial to your work as a mentor, as it will allow you to relate lessons to real-life situations, thus making it more likely that people will engage with you and actually apply what you have taught them.
As an international tax professional, Marcela Kane must be capable of creating tax plans that take into account the various territories that the companies she works for operate in. She must also know the difference between tax planning, avoidance and evasion. The following should help to make that issue clearer for those who are uncertain.
Tax PlanningTax planning is the completely legal method of reducing the tax liability of an individual or corporate entity based on the laws of the relevant governmental body. It makes use of relevant deductions and exemptions to achieve this aim and usually involves comprehensive planning and recording of income and expenditure.Tax AvoidanceTax avoidance is the use of legal loopholes to the advantage of the person or entity that is looking to reduce a tax burden. This occupies something of a grey area in that it is 100% legal when executed correctly, but those who make use of tax avoidance schemes often walk a very fine line between avoidance and evasion. In essence, it involves using the law to do things that governments did not expect their taxpayers to do, but that are not illegal based on the current law.Tax EvasionTax professionals, like Marcela Kane, must be careful about insuring that the companies they work for do not evade tax that they are legally liable to pay. Evasion is the conscious effort to avoid paying tax owed and it often involves breaking the law by using methods that are clearly defined as being illegal.
Mentorship is very important to Marcela Kane, as she recognizes that without strong mentors, many talented people will be less likely to attain the positions and responsibilities that their skillsets make them eligible for. There are many reasons why good mentors are crucial in the workplace, including all of the following.
They Offer Experience
In addition to unsurpassed industry knowledge, good mentors are able to draw upon their own experiences to help others avoid mistakes that they may have made earlier on in their careers. Learning from others is crucial in your professional development, so make sure you take advantage of the wisdom of experience that a good mentor can offer.
They Ask Questions
Mentors must also be capable of allowing their mentees to grow on their own accords, instead of constantly looking over their shoulders. However, they are still able to help in the development of the people they work with by asking questions that get their mentees thinking about their roles, what they are doing and why they do certain things. This critical eye is vital if you are to learn more about your current role and what it will take to advance within your career.
They Sponsor Mentees
The value of good mentors cannot be overstated in terms of the role they play in helping people to advance in their careers. Marcela Kane Lantrip notes that good mentors will also act as sponsors for their mentees, going to bat for them in meetings with senior management and making sure that the people who need to know about talented individuals have all of the information that they need.
Before she embarked on her career as an international tax professional, Marcela Kane studied for her Masters in Law (LLM) at the University of Houston in Texas, graduating in the year 2000. Starting college is difficult for any student, but those studying law must understand that they will often face a range of challenges that others may not have to deal with. The following tips should prove useful to anybody who wants to find success in their studies.
Be Prepared To Not UnderstandYour first few months of studying law will essentially see you being bombarded with new information, much of which you will not understand because you have yet to develop the skills to do so. This is natural, so it is important that you don’t allow yourself to become overwhelmed. Dedicate as much time as is needed to your studies and recognize that the things that don’t make sense now will start to become clearer over time.Don’t CramLaw is a complex subject that requires diligent studying, so it is crucial that you stay on top of your reading and dedicate time to your revision. Trying to cram in the days leading up to exams will lead to you missing out on important information, in addition to contributing to fatigue and stress levels.Find Time For YourselfMarcela Kane understands the importance of taking time for yourself to de-stress and it is crucial that law students recognize this too. Dedicating all of your spare time to study leads to fatigue and may even cause you to resent the subject.
Marcela Kane Lantrip is an international tax professional who is currently the Senior Manager of International Tax at Halliburton, which is one of the world’s largest oil field services companies. International tax is a complex subject that many people struggle to comprehend, especially those that have never worked with global entities in the past, so here are the basics of the industry.
What Is It?International taxation is the study or determination of the tax that can be applied to a business or person, subject to the tax laws of various countries. Most governments will implement country-specific systems of taxation, which often range between territorial, residential and exclusionary systems, that experts in the field need to be aware of so that they can provide adequate advice to clients operating in those countries.What Do International Tax Professionals Do?Professionals in the industry are capable of recognizing that the systems of taxation applied by governments can vary enormously between countries, so they need to understand the specifics of each territory that they work in, rather than applying broad rules. Such variations can create a number of potential issues, such as double taxation or even no taxation, depending on the country.The role of Marcela Kane and other international tax professionals is usually to provide corporate entities and individuals with the information that they need to navigate such complex issues. This is often done through the formation of dedicated tax plans that take into account reductions of tax or foreign credits that can be provided for taxes that are paid in other jurisdictions outside of the main area of operation.