An Interview with the Head of AARON TAX AND ADVISORY LLC on Key Features of the U.S. Tax System, Potential Risks, and Opportunities for Entrepreneurs from Kazakhstan and Other CIS Countries.
Our guest today is Nurkamila Akisheva, a respected expert in taxation and financial consulting, whose name is well known in Kazakhstan and beyond. She is a certified auditor, tax consultant, and the holder of prestigious international qualifications such as ACCA and CIA. Nurkamila built her career at major international consulting firms, including KPMG and FinExpertiza (which later became Andersen). Throughout her career, she not only advised large corporations but also developed educational programs for finance professionals and appraisers. In collaboration with ACCA and major universities like NARXOZ, she helped educate the next generation of specialists.
Nurkamila has received numerous prestigious awards both in Kazakhstan and internationally, reflecting her contribution to the development of taxation and consulting on a global scale. Her expertise has helped many companies adapt to international standards and solve the most complex financial challenges.
Perhaps most impressively, Nurkamila successfully transferred this experience to the U.S. market. In the United States, she founded AARON TAX AND ADVISORY LLC, which helps entrepreneurs from the CIS region enter the U.S. market, optimize their tax strategies, and create effective international financial plans.
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About the Company and Her Experience
– Nurkamila, your career trajectory is truly inspiring. You transitioned from working at international corporations to establishing your own successful business in the U.S.—not an easy feat. How did you accomplish this?
The idea to create AARON TAX AND ADVISORY LLC came to me when I saw the difficulties entrepreneurs from the CIS faced while trying to enter the U.S. market. Working at international auditing companies, I observed how large corporations adapted their tax strategies to various jurisdictions. Meanwhile, many entrepreneurs from Kazakhstan and other CIS countries often lacked the information and clear, practical solutions for navigating the U.S. tax system.
I wanted not just to provide consulting but also to build a supportive ecosystem for businesses from the CIS. After all, entering the U.S. market is not only about taxes—it also involves financial planning, business valuation, and strategic management. That’s why we launched AARON TAX AND ADVISORY LLC—a firm that combines international standards with a tailored approach. We work with entrepreneurs and large companies, helping them find optimal solutions in a complex U.S. tax environment.
– Beyond your professional expertise and knowledge, you have also gained recognition on the international stage. You recently received prestigious Globee American Business Awards and TITAN Awards. What do these honors mean to you, and how do they reflect your work and success?
Being recognized by the Globee American Business Awards and the TITAN Awards is a significant milestone in my career. These awards represent not only the acknowledgment of my personal efforts but also the accomplishments of our entire team in creating a firm that helps entrepreneurs adapt their business strategies and financial plans to the U.S. market.
Awards like Globee and TITAN motivate my team and me to strive for new heights and remain at the forefront of financial and tax innovation.
It’s also essential for me to contribute to the community, not just succeed in business. I actively participate in the VITA (Volunteer Income Tax Assistance) program, which offers low-income individuals free help with their tax returns. VITA services are crucial in times of economic uncertainty. We work with clients who often struggle to understand their tax obligations, helping them avoid penalties and legal issues.
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Challenges When Entering the U.S. Market
– Let’s discuss your clients. What are the most common mistakes entrepreneurs from Kazakhstan tend to make when trying to start a business in the U.S.?
Many entrepreneurs think forming an LLC is automatically the best option—assuming it’s similar to a Limited Liability Partnership in Kazakhstan—without considering the proper tax classification. In the U.S., it’s crucial to choose the right tax status for your company. An LLC can be taxed as a partnership, as a C- or S-corporation, or as a pass-through entity, all of which significantly affect your tax obligations. If a non-U.S. resident owns an LLC that is taxed as a partnership or a pass-through entity, they must file a personal U.S. tax return. This creates additional administrative and tax burdens.
That’s why in these cases many entrepreneurs use a C-corporation as a “blocker” entity. This approach removes the requirement for individual investors to file a personal tax return because the C-corporation itself pays corporate tax: 21% at the federal level, plus any applicable state tax. However, if the C-corporation distributes dividends to non-U.S. resident shareholders, a 30% withholding tax generally applies. Still, if the relevant tax treaty between the U.S. and Kazakhstan is in place and the necessary conditions are met, that rate can be reduced to 5%.
Another frequent oversight among non-U.S. residents is ignoring taxes on FDAP (Fixed, Determinable, Annual, or Periodical) income, such as rental income from U.S. real estate or royalties received from U.S. companies. The 30% tax can be withheld at the source before the income ever reaches the owner, often leading to surprise when the actual payment is smaller than anticipated.
It’s also crucial to note new regulations like the Corporate Transparency Act (CTA), effective from 2024, which mandates companies to disclose beneficial ownership information to FinCEN. Many business owners from Kazakhstan are unaware of this, leading to serious compliance issues when authorities request these disclosures.
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– Apart from corporate taxation, international businesses also face transfer pricing requirements. How relevant is this for entrepreneurs from the CIS who are expanding to the U.S.?
It’s very relevant, especially for those who finance their U.S. operations through loans, split profits across different jurisdictions, or provide services among related companies.
For example, if a Kazakh company invests in its U.S. subsidiary via a convertible loan, tax authorities may question whether the interest rate is in line with the market. Is this a genuine loan or a disguised equity contribution? Failing to structure such transactions properly from the outset can result in additional tax assessments and penalties.
Moreover, there’s the BEAT (Base Erosion and Anti-Abuse Tax). Many people think it only affects large corporations with over $500 million in revenue. However, smaller businesses can come under scrutiny if tax authorities suspect that cross-border payments artificially reduce U.S. taxable income.
– Which tax optimization strategies do you typically employ for your clients?
Optimization depends on the business structure. However, commonly used strategies include leveraging tax treaties to reduce withholding rates on dividends, royalties, and interest, as well as choosing a U.S. state that offers favorable tax rules for a particular business model. The main principle is to plan taxes proactively rather than fix problems retrospectively.
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Taxation of Individuals in the U.S.
– What are some differences between the personal tax systems in Kazakhstan and the U.S.?
In Kazakhstan, if you engage in small-scale business activities, you need to register as an individual entrepreneur (IE) and select a particular tax regime—patent, simplified declaration, or retail tax—depending on your industry.
In the U.S., the system is more flexible. You aren’t required to open an LLC or corporation; you can simply work as a self-employed individual and pay taxes on personal income. For example, freelancers, consultants, and independent professionals can report their income on their individual tax return and pay income tax plus self-employment tax (15.3%) without forming an LLC or corporation.
However, the key difference is the progressive tax rate in the U.S. The more you earn, the higher your tax bracket. The minimum rate starts at 10%, while higher earners can face rates up to 37%. In Kazakhstan, the tax rate is generally a flat 10%, regardless of how much you earn.
Hence, tax planning in the U.S. becomes especially important. You can reduce your taxable income through various deductions, credits, and business expenses.
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Ensuring Compliance with U.S. Tax Law
– How do U.S. tax authorities enforce compliance, and what happens when companies violate regulations?
If a tax return is filed late or contains errors, you can face penalties. In serious cases, the IRS may audit your business or impose additional tax assessments. Failure to file required forms can trigger fines of up to $25,000, and deliberate evasion can lead to criminal charges. Timely and accurate filing is crucial to avoid complications.
Legal Disputes and Business Valuation
– Business valuation is another area of your expertise. What are the main challenges there?
Valuing a business is a complex process that requires a thorough understanding of financial, legal, and market factors. Over the years, our company has handled intricate cases that involve assessing a firm’s assets, liabilities, and growth prospects. Each case demands an individual approach, given the variations in state law, federal requirements, and international standards. A properly conducted valuation helps parties avoid additional scrutiny from courts or tax authorities, saving time and resources.
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The Future of Taxation and Consulting
– What are your future plans in the professional sphere?
We aim to expand the range of services we offer. Currently, my team can represent clients before the IRS, but I want to broaden our scope to include more legal services, including courtroom representation. That’s one reason I plan to obtain a Non-Tax Attorney license. This will allow us to defend our clients’ interests not only in tax advisory matters but also in legal proceedings.
– How do you envision the development of tax consulting and advisory services in the era of globalization and digitalization?
Modern technology is transforming taxation. The IRS already employs artificial intelligence and big data to analyze returns, detect inconsistencies, and identify evasion schemes more rapidly. For instance, AI can compare declared income with banking transactions, making it harder for individuals to hide income. These tools expedite and improve the accuracy of audits.
On the flip side, advanced technologies also provide new avenues for tax consulting. I regularly use analytics tools to optimize tax burdens and forecast risks. As digital assets such as cryptocurrencies and NFTs gain popularity, tax professionals who can work with big data are becoming crucial.
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Tips and Recommendations
The main thing is not to act blindly. Mistakes in choosing the right business structure or tax plan in the U.S. can be very costly. The U.S. system involves rigorous reporting requirements and complex taxation rules, so you should identify the appropriate approach—whether it’s operating as a self-employed individual or incorporating a company—well in advance. Don’t leave everything until the last minute. Smart planning and an understanding of the regulations help avoid penalties and unnecessary expenses. Stay informed about legislative changes and create a strategy that allows you to use the system to your advantage.
Entering the U.S. market isn’t just about registration; it requires a solid grasp of local tax and legal nuances. Errors made at the outset can prove expensive, so it’s critical to plan your business structure, tax strategy, and accounting system ahead of time.
While the U.S. tax system is indeed complex, with a well-informed approach, it can work in your favor. The key is to understand the rules, keep track of legislative updates, and address tax issues proactively rather than reactively. This can help you not only avoid problems but also build a strong and profitable business in the United States.
