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Tax Strategy from Tax Professionals

Whether you’re a business, nonprofit or high-net-worth individual, we begin with an overall tax strategy, which meets your geographic, compliance, service and reporting needs, and anchor it with industry expertise and tailored technology.

Our Approach

CFOs, Tax Directors and Business Owners come to Armanino for much more than tax compliance. While we excel by making sure you meet regulatory requirements, both domestic and global, that just scratches the surface of what our tax accounting team does. Whether you’re looking to improve profitability, grow your business or implement a succession plan, we see the tax function as a key strategic tool—as nothing less than a vital means of moving your company forward. 

A Personal Approach
Clients count on us to be a fresh set of eyes for in-house tax calculations, and to help them strategize on how best to support key business objectives. In some cases, companies outsource 100 percent of their tax work and tax preparation to us. But more often than not, we collaborate with client companies, taking a personal approach. We are known for coming right to your office—often on weekends, often at the last minute.

Deep Local, State and Global Tax Expertise
If your business operates or sells in one location or many, locally or globally, we can help. Our partners are known for their in-depth tax knowledge. Whether it is dealing with international structuring or R&D tax credits and incentives, we can provide both compliance and advice.

Technology to Support Efficiency and Strategy
Our tax services are supported by robust technology, making what we do as efficient as possible. We use both proprietary and third-party tax technology solutions. We also help companies employ in-house technology to streamline tax reporting. Our technology solutions enable us to readily calculate and assess various tax scenarios and share the same information across all annual tax calculations. In fact, we offer a highly evolved automation approach to calculating your Provision, as well as Sales and Use Tax, one that lets us focus on the strategy, as opposed to the clerical work.

Services

Whether you’re a large or small organization strategizing on how to expand your business (locally or globally), a nonprofit looking for a tax advisor who goes well beyond your Form 990 or an individual concerned with succession planning, our services are designed to ensure you reduce your tax risk and address essential federal, state and international tax issues.

Corporate Tax Outsourcing

Corporate Tax Outsourcing

The complexities involved in developing and implementing a powerful enterprise-wide tax strategy can be daunting even for the largest public company. But for an over-burdened finance department in a private company, assembling the required resources is often not feasible. With this in mind, outsourcing your tax strategy makes a great deal of sense.

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Federal Tax Preparation

Federal Tax Preparation

Individuals and businesses are familiar with the standard 1120 and 1040 tax returns; that’s basic tax compliance. However, our federal tax team goes beyond tax compliance; our goal is to help you and your organization mitigate risk, increase profits and continue moving you and your business forward.  

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Tax Planning, Structuring and Compliance

Tax Planning, Structuring and Compliance

The tax decisions you make today can affect all aspects of your professional and personal life. We make it a priority to understand what you have in mind for your company, your family and yourself. Armed with this information, we carefully coordinate your tax planning needs to help you achieve your specific goals

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International Tax Services

International Tax Services

Tax is an inescapable dimension of almost every business activity and in every jurisdiction where an individual or company conducts business. Our international tax experts have helped numerous companies assess expansion options, mitigate tax risk and maintain profitability. We routinely address cross-border tax issues and help multi-national companies achieve global business objectives, and assist with international tax planning. 

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IPO Tax Consulting

IPO Tax Consulting

Companies considering going public can no longer rely on the same group of linked spreadsheets to calculate tax. Specific tax footnotes are required for S-1 filing documentation. Armanino can help your company address the often-overlooked tax needs that can otherwise create problems during your IPO

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Nonprofit Tax Services

Nonprofit Tax Services

Associations, faith-based organizations, foundations, charities, private schools and other nonprofit entities need a tax partner with extensive experience with tax-exempt organizations. We excel at assisting nonprofits with a full-spectrum of tax issues, because our tax experts work exclusively with nonprofits. We understand that the Form 990 isn’t the only tax-related hurdle nonprofits face. 

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Tax Credits & Incentives

Tax Credits & Incentives

Many growing companies believe that their company qualifies for a research and development (R&D) tax credit. However, documenting R&D activities in a way that meets the stringent IRS requirements or state taxing authorities isn’t easy. As a result, we find many companies don’t receive the R&D credit they deserve—or don’t qualify for an R&D credit at all.

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Sales and Use Tax

Sales and Use Tax

Sales and use tax penalties can be substantial for many companies. And a failure to implement the right tax plan may result in substantial risks to your company’s internal controls and, possibly, result in material weaknesses during your audit.

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State and Local Tax (SALT)

State and Local Tax (SALT)

If one thing is certain, it’s that no tax law was created equal, and that’s especially true across state, county and even city lines. When it comes to SALT, we scrutinize changes in state and local tax complexities and risks, so you can focus on growing your business.

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Tax Provision

Tax Provision

For growing companies, working with disparate data sources and facing tight deadlines is often one of the most challenging tasks. At Armanino, we know that completing your company’s provision accurately means taking your provision process beyond the spreadsheet. That is why we offer a proprietary approach to take the time-consuming, error-prone aspects of Excel out of your provision process.

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Resources

Top Tax Issues for Buyers and Sellers in Today’s M&A Market

The COVID-19 pandemic will likely cause a surge in M&A activity. These are some key areas of taxation that can significantly impact a transaction’s value.

California Governor Signs Budget Bill — Suspends NOLs and Puts Limitations on Busines ...

On June 29, 2020, California Governor Newsom signed a bill to increase revenue, but suspend NOLs and limit tax incentives.

Supreme Court Won’t Review the Altera Tax Case

On June 22, the Supreme Court decided not to review the Altera case, thereby upholding a lower court ruling which requires companies to include SBC among assets valued for tax purposes when multinationals shift their in ...

Company Seeks Advice on Dealing With an Outdated Valuation & Avoiding Tax Penalties

We look at the importance of working with a tax advisor who is immersed in the compensation and benefits landscape.

Qualified Opportunity Zone Funds and Investors Receive Additional Deadline Relief in ...

The IRS has extended the deadlines for the 180-day investment period, the 30-month substantial improvement period, the 90% investment standard and more.

Combining CARES Act and the TCJA: Changing Your Accounting Methods Could Result In Si ...

Consider a change in accounting method if your average gross receipts are $25M or less as of January 1, 2018.

Using IRC Section 471(c) to Reduce the Impact of IRC Section 280E on Cannabis Compani ...

Cannabis business may benefit from the Small Business Accounting Method Reform and Simplification tax law which enacted a series of provisions allowing taxpayers that have less than $25M in revenue to no longer be requir ...

Company Receives Advance Payment & Turns to Armanino to Save $7m

By working with our tax advisor who was well-versed in Section 382, the company saved millions.

Clarifying the Real Estate Exception & Qualified Improvement Property Depreciation

Revenue Procedure 2020-22 and the CARES Act provide new opportunities for business interest expense deduction for some taxpayers.

IRS issues much anticipated Proposed Treasury Regulations to UBTI Siloing Rules

Our experts break down the anticipated Proposed Treasury Regulations on the UBTI siloing rules in accordance with the TCJA as well as other aspects of the UBTI calculation.

IRS Publishes Transfer Pricing Documentation Best Practices FAQs

Avoid potential transfer pricing penalties by maintaining better documentation, providing detailed records that emphasize regulatory compliance, and tracking all pertinent transactions.

Cannabis and Hemp Companies Eligible for SBA Loans and Tax Benefits

Understand what types of cannabis organizations can apply for SBA loans.

CARES Act Impact on Qualified Improvement Property

Section 2307 of the CARES Act included technical corrections to treat QIP as a 15-year MACRS asset and 20-year ADS asset, as originally intended by TCJA.
House Bill Coronavirus Relief
Financial and tax-related relief for individuals and businesses from the effects of coronavirus (COVID-19) come in the form of a bill passed by the U.S. House and be ...

The IRS Provides Guidance on Meal and Entertainment Deductions

The IRS provides guidance on the deductibility of expenses for meals and entertainment.

Opportunity Zones 2020: Where We Are Now

The IRS's final regulations on opportunity zones are mostly good news for OZ investors, QOFs and QOZBs. Here's what the new rules mean for this “once-in-a-generation" wealth creating program.

California Attorney General Updates Charities Forms Effective February 1, 2020

Effective February 1, 2020, charitable organizations whose annual revenue is under $50,000 must file a new form along with Form RRF-1.

California Local Taxes: Due Date Reminder

California taxpayers, make sure you understand your various local tax deadlines.
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Make sure you don’t miss any important 2020 tax deadlines.

An Overview of the SECURE Act

Signed into law in December 2019, the SECURE Act includes retirement planning and other tax changes for individuals, plus a few changes for nonprofits.

SECURE Act Increases Age for Required Minimum Distributions

The SECURE Act increases the required minimum distribution age from 70½ to 72 for those who reach 70½ in 2020 or after.

Spending Bill Extends Tax Breaks, Adds Retirement Account Provisions

Congress passed a massive government wide spending package which extends certain tax provisions and introduces the SECURE Act.

Spending Package Repeals Parking Tax and Changes Private Foundation NII Tax Rate

Congress passed a $1.4 trillion spending package with impacting UBTI and other nonprofit-related tax provisions.

IRS Updates Rules for Using Per Diem Rates

The IRS recently issued guidance for business travelers and their employers on how to use the per diem rules to substantiate their business travel expenses for tax purposes.

IRS Updates Rules for Mileage-Related Deductions

IRS issues new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for business purposes.

Factor 2020 Cost-Of-Living Adjustments Into Your Year-End Tax Planning

As you implement 2019 year-end tax planning strategies, be sure to take these 2020 cost-of-living amounts into consideration.

Business Year-End Tax Planning in a TCJA World

Incorporate lessons learned from the first tax-filing under TCJA at year end to reduce your 2019 federal tax liability.

It’s Not Too Late to Trim Your 2019 Tax Bill

In a post-TCJA world, there are new potential strategies, tactics and twists to consider at year end to reduce your 2019 income tax liability.

Simplifying the Rules for Reporting Income Taxes

For years, businesses have complained that the guidance for reporting income taxes includes many mechanical rules and exceptions. As a result, it often yields information that’s challenging for investors to understand. I ...

Crypto Tax Solutions In Light of the Recent IRS Guidance

With the IRS now fully engaged in collecting what they believe they’re owed on past, present, and future crypto transactions, it’s time to look at ways to mitigate the tax burden.

The U.S. Department of Labor Finalizes the New Overtime Rule

The DOL’s finalized overtime rule updates standard salary levels, expands the pool of nonexempt workers by more than 1 million, and is scheduled to take effect January 1, 2020. See how you can prepare to achieve co ...

IRS Releases First Crypto Tax Guidance In 5 Years

On October 9, the IRS released tax guidance on cryptocurrency.

IRS Issues Final QBI Real Estate Safe Harbor Rules

The IRS has released final guidance on the safe harbor that lays out requirements taxpayers must satisfy to benefit.

IRS Provides Additional Guidance on Bonus Depreciation Under the TCJA

The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The newly proposed regs provide guidance on some areas not covered in the final regs.

Colorado's ‘Home Rule’ Creates Sales Tax Opportunities and Confusion Post-Wayfair, In ...

Post-Wayfair taxation in Colorado has extra quirks because the state constitution allows many municipalities to self-govern. This can create a disconnect between state and municipality sales tax rules for thing ...

DOL Expands Retirement Plan Options for Smaller Businesses

More small and midsize unrelated businesses will be able to join forces in multiple employer plans that provide their employees a defined contribution plan such as a 401(k) plan or a SIMPLE IRA plan, thanks to a final ru ...

Congress acts to reform the IRS, enhance taxpayer protections

The Taxpayer First Act is an IRS reform bill that will provide stronger safeguards against identity theft, improve customer service and protect taxpayer’s rights, among a host of other changes.

Nonprofit Parking Tax Update

The House Ways and Means Committee is holding a hearing and requesting comments on the impact of the Tax Cuts and Jobs Act’s Section 512(a)(7) on nonprofits.

Tax Alert: Significant Oregon and Washington State Tax Developments

Oregon's new corporate activity tax and Washington state's business and occupation tax surcharges have the potential to make a substantial impact on companies doing business in those states.

Tax Alert: Update on Altera v. Commissioner and Impact on Cost-Sharing Agreements

The Ninth Circuit has upheld the validity of the cost-sharing regulation that requires stock-based compensation to be treated as a cost-shared cost. Companies that have excluded stock-based compensation from their cost-s ...

Opportunity Zones Equal Significant Tax Benefits

Investing in a qualified opportunity zone allows taxpayers to reduce and delay taxes on profits from businesses, stocks and investment partnerships if the money is reinvested in one of the country's 8,700 designated dist ...

TCJA Glitches and the Extenders: Uncertainty Looms Over Some Federal Income Tax Provi ...

The TCJA has glitches that require legislative fixes, and a number of expired tax breaks have not been extended. It remains to be seen if Congress will resolve any of the issues in the near future.

The Department of Labor Proposes Updated Overtime Rule

The proposed overtime exemption rule is generally better for employers than the 2016 update to the existing 2004 rule. But challenges await, and it’s not a sure thing.

Ohio Holds Out-of-State Corporation with No Ohio Sales Satisfied the CAT Wayfair Nexu ...

The Ohio Appellate Court ruled that the corporation satisfied the Wayfair nexus standard because its retail customer shipped purchased products to their Ohio distribution centers.

San Francisco and Los Angeles Tax Filing Deadline Reminder

California local taxes have upcoming filing deadlines, and business owners should be aware of how ever-changing nexus rules could affect what they owe.
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Make sure you don’t miss any important 2019 tax deadlines.

IRS provides QBI deduction guidance in the nick of time

The guidance provides clarity on who qualifies for the QBI deduction and how to calculate the deduction amount.

Reporting the Effects of Tax Reform

The FASB will continue to monitor income tax reporting under the TCJA. Some uncertainty remains regarding the global intangible low-taxed income regime, the base erosion and anti-abuse tax and realization of deferred tax ...

IRS Waives 2018 Underpayment Tax Penalties for Many Taxpayers

The wavier recognizes that the TCJA made it difficult to determine proper amounts to be withheld from taxpayers paychecks.

Federal Government Shutdown Creates Tax Filing Uncertainty

Despite the government shutdown, adhere to the current tax deadlines currently in place.

IRS Issues Proposed Regs on Business Interest Expense Deductions

The proposed regs significantly expand on the temporary guidance. They include, among other notable provisions, a broader definition of interest than businesses have applied in the past.

What Do the 2019 Cost-of-Living Adjustments Mean for You?

Take advantage of adjustments such as higher gift and estate tax exemptions as you plan for 2019.

Act Now to Cut Your 2018 Tax Bill

The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions—a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions ...

IRS Proposes Regulations for Opportunity Zone Tax Incentives

The Tax Cuts and Jobs Act (TCJA) includes a provision that Secretary of the Treasury Steven Mnuchin said should lead to $100 billion in capital investments in distressed areas. The provision allows taxpayers to defer ...

Year-End Tax Planning for Businesses in the New Tax Environment

The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 brought significant changes to the tax landscape. As the first tax season under the law looms on the horizon, new year-end tax planning strategies are emer ...

The Business Meal Expense Deduction Lives On Post-TCJA

New transitional IRS guidance clears up some confusion over whether business meal expenses remain deductible under the Tax Cuts and Jobs Act.

IRS Issues New TCJA Guidance for Businesses

The TCJA created a new tax credit for businesses that grant employees paid family and medical leave. Employers can adopt a retroactive leave policy before year end and claim the credit.

Reporting for Income Taxes

The FASB plans to revisit the financial reporting effects from the new tax law and evaluate whether it should retain its prohibition on backwards tracing and add more disclosures.

3 Bills Form Tax Reform 2.0

The bills would make permanent certain parts of the TCJA that affect individuals, families and small businesses. They also promote family and retirement savings and new business innovation.

IRS Regs Detail How Businesses Can “Aggregate” for the QBI Deduction

Aggregating qualified businesses can potentially allow a taxpayer with high taxable income to claim a higher pass-through income deduction.

IRS Issues Proposed Rules for the Pass-Through Business Income Deduction

IRS recently released highly anticipated, complex regulations addressing the new deduction for up to 20% of qualified business income (QBI) from pass-through entities.

IRS issues guidance on new bonus depreciation rules

Businesses that have put assets into place this year have improved options for claiming bonus depreciation, thanks to the Tax Cuts and Jobs Act.

Is More Tax Reform on the Horizon?

While many individuals and businesses are still working to fully understand how the provisions of the Tax Cuts and Jobs Act affect them, lawmakers are prepping for Tax Reform 2.0.

How Tax Reform Affects Meals, Entertainment and Transportation Deductions

Changes to deductions for meals, entertainment and transportation expenses could impact your organization’s budget, but the TCJA’s rules simplify how businesses will need to track the remaining deductions. ...

Rolling Back Dodd-Frank, Piece by Piece

Proposed legislative and SEC changes would further scale back the Volcker Rule and reporting and disclosure requirements, and allow larger public companies to qualify as EGCs.

Supreme Court Opens Door to Taxation of Online Sales

South Dakota v. Wayfair is expected to hurt online retailers and boost brick-and-mortar stores. The high court’s 5-4 ruling opens the door for states to require out-of-state retailers to collect sales t ...

Supreme Court Overturns Sales/Use Tax Rules in Highly Anticipated Wayfair Opinion

Consider the ruling's impact on your future compliance and potential prior-period exposure.

Watch Out for Tax-Related Identity Theft Scams All Year Long

Understanding the latest scams and knowing what to do if you become a victim or target can help mitigate damages.

Court Rejects Deductible Theft Loss for Real Estate Scam

Investors face a real risk of fraudulent real estate scams, and as a recent legal case shows, they may not be able to claim a tax deduction for fraud losses.

IRS Sheds Light on New Limit on Business Interest Expense Deductions

The IRS has issued temporary guidance that taxpayers can rely on until it releases regulations. While the guidance provides some valuable information, it also leaves some questions unanswered.

Brush Up on the Tax Rules for Rental Property Owners

Real estate investors who are thinking about buying rental properties need to understand the basic federal tax rules for rental income and expenses.

TCJA Pass-Through Provisions: A Deeper Dive into the Details

The TCJA has been touted for cutting the corporate tax rate, but the law also contains some valuable goodies for smaller businesses that operate as pass-through entities.

Rewriting the Dodd-Frank Act, One Provision at a Time

In January, the House Financial Services Committee advanced 15 deregulatory bills. Republicans frame it as a way to expand on tax cuts. Democrats call it a dangerous rollback of prot ...

Home Equity Borrowers Get Good News from the IRS

If you’re considering a home equity loan, know that, the rules have changed under the Tax Cuts and Jobs Act. The IRS recently provided information about these loans, and the news is good.

Ways to Keep Your Properties More Profitable

There are ways for commercial property owners and investors to enhance profits regardless of whether the market is up or down.

New Budget Agreement Brings Additional Tax Changes

The Bipartisan Budget Act of 2018 (BBA), which President Trump signed into law on February 9, 2018, contains several tax-related provisions that could reduce the amounts taxpayers owe for the 2017 tax year.

The Ins and Outs of Defeasance

Commercial real estate prices are trending up in many areas and interest rates may soon follow, so some property owners are considering exiting their loans early via defeasance.
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Make sure you don’t miss any important 2018 tax deadlines. Be aware that some deadlines have been moved up or pushed back compared to previous years.

PAL Rules: Qualifying for The Real Estate Professional Exception

Passive activity loss rules can prevent a taxpayer from claiming passive losses from real estate. This recent case addressed whether a mortgage broker/lender could use the PAL exception.

IRS Issues Updated 2018 Withholding Tables

The IRS has released updated withholding tables that indicate how much employers should hold back from their employees’ paychecks to satisfy workers’ tax obligations.

Real Estate Industry Among the Big Winners on New Tax Law

Take Action: Take advantage of favorable rules for pass-through income, interest expense deduction, Section 179 expensing and more.

Election to Apply the Research Credit Against Payroll Taxes

If you are a qualified small business, subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax.

TCJA Provides More Generous Depreciation-Related Tax Breaks

If your business is buying new assets in 2018, you’ll be able to benefit in several ways under the new tax reform law, commonly referred to as the Tax Cuts and Jobs Act.

Tax Cuts and Jobs Act Offers Favorable Tax Breaks for Businesses

The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, contains a multitude of tax breaks for businesses.

TCJA and the Impact on Your Estate Plan

Here is how the Tax Cuts and Jobs Act will affect your Estate Plan.

New Tax Law Brings Big Changes for Individual Taxpayers

While many of the new law’s provisions affect businesses, it also includes significant changes for individual taxpayers. Here are some of the most notable changes.

The IRS Is Using Data Analytics on Form 990: What This Means for You

The IRS is using data analytics to reveal nonprofits who are noncompliant with government regulations. Even a small deviation from the requirements could cost you your 501(c) status.

House and Senate Tax Bills Head to Reconciliation

Take Action: As tax reform hits the homestretch, consider the implications for you and your business.

Tax Reform May Cloud Individual Year-End Tax Planning Strategies

With tax reform proposals winding their way through Congress, year-end tax planning has become infinitely more complex. How could proposed tax law changes affect your year-end tax planning?

U.S. House Passes Tax Bill with Far-Reaching Changes for Individuals and Businesses

The U.S. House of Representatives passed the Tax Cuts and Jobs Act. Here’s an overview of some of the most significant provisions for individual taxpayers and businesses in the House bill.

Compare and Contrast the House and Senate Tax Bills

The House Ways and Means Committee amended, and approved, the Tax Cuts and Jobs Act, and the Senate Finance Committee released “policy highlights” for its proposed version of a tax plan.

Sweeping Tax Changes Proposed for Individuals and Businesses in House-Released Bill

The U.S. Ways and Means Committee released its sweeping bill to reform the tax code. Here’s a rundown of some of the individual and business provisions in the 429-page Tax Cuts and Job Act.

2018 Gift Tax Exclusion Rises to $15,000; Other Cost-of-Living Adjustments Increase M ...

The IRS recently issued its 2018 cost-of-living adjustments. As you implement 2017 year-end tax planning strategies, be sure to take these 2018 adjustments into account in your plann ...

Year-End Tax Planning for Businesses: Looming Tax Reform Creates Planning Challenges

As the end of 2017 approaches, the prospect of dramatic tax reform makes year-end tax planning especially challenging for businesses. Project your income and expenses and estimate your tax picture under various ref ...

Treasury Department Recommends Significant Action on 8 Recent Tax Regulations

The U.S. Department of Treasury and the IRS recently issued their much anticipated report on several tax regulations that had earlier been identified for review in Executive Order 13789.

Many Questions Remain on What Tax Reform Will Mean for Individuals

In the days following the release of the proposed Republican “framework” for implementing tax reform, issues have been raised about its contents.

What Could the Republican Framework for Tax Reform Mean for Your Business?

Corporate tax reform has been a hot topic for many months, and it’s now beginning to be addressed in Washington in a little more (but not a lot more) detail.

GOP’s Proposed Tax Reform Plan Significantly Changes the Rules

The nine-page “Unified Framework for Fixing Our Broken Tax Code” is a template for the congressional committees to draft legislation that affects tax rates for both individuals and businesses. ...

Trump Administration Signals Employer-Friendly Shift

The U.S. Department of Labor has begun taking steps to loosen the reins on employers, turning away from some Obama administration initiatives.

SEC Asks for More Disclosures on Offshore Taxes

U.S. multinational companies have been putting more of their offshore profits in foreign tax havens, and investors want better transparency about these tax strategies and their risks ...

Sooner Rather Than Later – Timing for Taking Your R&D Payroll Tax Credits

Recent legal advice issued by the IRS Associate Chief Counsel helps clarify some of the confusion around the new payroll tax credit for R&D for qualified small businesses.

DOL’s Overtime Rule Lands in Limbo – For Now

Uncertainty over the DOL overtime rule may cause planning problems for employers. We explain why.

Repeal of ACA Tax Provisions Uncertain After Senate Vote Fails

ACA tax provisions remain intact after Senate “skinny repeal” vote falls short.

Monitoring the Impact of Tax Reform on GAAP

As Republican lawmakers weigh sweeping proposals to overhaul the tax code, a trade group for the largest U.S. companies wants the FASB to monitor how the changes may impact GAAP.

Renting to Related Parties

You may have a second home you have previously leased to related (or unrelated) tenants, and perhaps you are wondering if "doing the right thing" by assisting friends/family members ...

The Uncertain Future of the NIIT: What It Means for Your Tax Planning

The NIIT may well remain in place for 2017, so plan a strategy to reduce or eliminate your NIIT liability for the year.

What Might Happen if a 15% Business Tax Rate Becomes Law?

The president’s proposed 15% business tax rate may offer savings opportunities for more than just businesses.

When to Donate Appreciated Real Estate to Charity

You have options that could not only avoid the tax on the capital gain associated with an outright sale of the lot, but also get you a charitable deduction to help offset the income tax on ...

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As companies continue to expand their global reach through the online sales of goods and services, authorities are focusing more attention on the taxation of thes ...

Nonprofit Tax Issues, Part 2: Political Activity and Foreign Grants

With Form 990 filing season coming up, your nonprofit’s governance practices will soon be scrutinized by the IRS, donors and potential funders.

Nonprofit Tax Issues, Part 1: Unrelated Business Income and Excess Benefits

Nonprofit leaders need to know the ins and outs of unrelated business income and excess benefits to avoid landing in hot water with the IRS.

FASB Gets Harsh Feedback on Income Tax Disclosure Proposal

The FASB proposal to add income tax disclosure requirements has stirred up controversy, despite the board’s attempts to balance the cost of changes with investor needs.

California manufacturers and certain researchers and developers may qualify for partial exemption of sales and use tax on certain equipment purchases and leases.

FASB Simplifies Goodwill Impairment Testing … Again

The latest amendments establish a one-step process for testing goodwill for a decrease in value.

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This summary of when various tax-related forms, payments and other actions are due will help you make sure you don’t miss any important 2017 tax deadlines.

New W-2 & 1099 Filing Deadlines and Increased Penalties

Taxpayers should be aware that the due date for Form W-2 and certain 1099s is now January 31. Make sure you file by this date, as failure to do so can result in increased penalties.

Three Tax Incentives to Consider in 2017

As you chart your compliance strategy for 2017, here are some underutilized tax incentives to consider.

Last-Minute 2016 Tax-Saving Tips

There’s still time to take steps to reduce your 2016 tax liability, but you must act by December 31. This article details six actions to take before year end.

Deadline Extended for ACA Information Reporting to Employees (But Not to the IRS!)

The IRS has extended the deadline for employers subject to the ACA’s information reporting requirements to meet their obligations to employees. We explain the requirements and extension.

When to Recognize Income Taxes on Intra-Entity Transfers

The FASB published an update that requires businesses to recognize the immediate income tax consequences of intracompany asset transfers. We explain the details surrounding this decision.

DOL’s Overtime Rule Blocked by U.S. District Court

Just over a week before the DOL’s new overtime rule was scheduled to go into effect, a federal judge blocked it. We explain the ruling and detail the impact on workers and taxes.

Election Outcome Likely to Result in Major Tax Law Changes

The election of Donald Trump and Republicans retaining control of Congress, will likely result in an overhaul of the U.S. tax code next year. We provide an overview of Trump’s tax proposals.

Many 2017 Cost-of-Living Adjustments Increase Slightly

The IRS recently issued its 2017 cost-of-living adjustments. We provide an overview of 2017 amounts related to individual income taxes, the alternative minimum tax and more.

New IRS Regulations Target Earnings Stripping

The IRS has issued final regulations intended to keep multinational companies from moving their profits offshore to avoid paying U.S. taxes. We explain the details of these regulations.

IRS Targets Partnership Transactions and Liabilities with New Regulations

The IRS has issued regulations addressing issues related to partnerships. The regulations are intended to eliminate abuse of partnership tax benefits. We offer an in-depth look.

Fraudulent CP2000 Notices: What You Need to Know

The IRS has reported numerous incidents of fraudulent CP2000 notices. Here is what you need to know to stay protected.

IRS Eases Rules for Retirement Plan Rollovers

The IRS has issued final regulations regarding certain retirement plan rollovers. We explain the tax advantages of Roth accounts and detail how the new regulations are taxpayer-friendly.

How to Detect & Reduce the Risk of Fraud

When it comes to your nonprofit, it is important to be on the lookout for the warning signs of fraud. implementing strong financial controls can help protect your organization.

What Sets Attorneys General on the Warpath Part 2: Excess Benefit Transactions

Nothing raises more ire with your state attorney general than excess benefit transactions—someone in your organization receiving more benefit from a transaction than your nonprofit.

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The IRS proposed regulations to minimize gift and estate taxes when transferring interests in closely held family businesses to relatives. Act now on the current ...

Upcoming FASB Proposal on Income Tax Disclosures

The FASB recently decided to draft its long-awaited proposal on income tax disclosure. Here’s what you can expect from the guidance.

24 Hours of Fundraising: How to Maximize Giving Days

Giving Days is a great way for nonprofits to engage donors online and establish new donor relationships that can lead to long-team sustainability. Maximize your opportunities with these t ...

What Sets Attorneys General on the Warpath Part 1: State Registration

One of the quickest ways to raise the ire of a state attorney general is to drop the ball on charitable solicitation registration.

Tax Identity Theft on the Rise: What You Need to Know

There was almost a 50% jump in identity theft complaints in 2015. We detail the level of tax identity theft, explain the risks for individuals and businesses and offer prevention tips.

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DOL’s Overtime Rule Brings Significant Change

The DOL released a final rule that makes dramatic changes to the determination of which executive, administrative and professional employees are entitled to overtime pay under the FLSA Act. LEARN MORE » 

There’s No Going Back: Employee Share-Based Payment Accounting

On March 30, FASB published ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC 718. We discuss the changes and why you should partner with an expert.

IRS Offers Guidance to Employers who Plan to Claim the WOTC

The IRS has recently granted “transitional relief” to eligible employers who are planning to claim the WOTC. The deadline has been extended to June 29, 2016.

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Taxpayers should be aware that con artists are posing as the IRS in attempt to steal personal and financial information. If you get a fraudulent call or message, ...

Income Taxes: Inquiring Minds Want More Details

In the first quarter of 2016, FASB plans to issue a proposal that will require businesses to reveal more details about domestic and foreign tax payments.

2015 PATH Act Does More Than Extend Tax Breaks

On Dec. 18, the Senate passed the PATH Act. We provide a quick rundown of some of the key tax breaks that have been extended or made permanent for individuals and businesses.

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Now is the time for affected employers to begin assembling the necessary ACA information. This article details what information is required to complete Forms 1094 ...

SCOTUS same-sex marriage decision has tax implications for couples and their employer ...

On June 26, the Supreme Court issued a landmark 5-4 decision on same-sex marriage, which will affect tax and estate planning for many couples and also impact their employers.

Highway Funding Law Brings Important Tax Law Changes

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 was signed into law on July 31; the 34th stopgap extension of transportation programs since 2009.

New Trade Law Hikes Penalties for Tax Reporting Errors

The Trade Preferences Extension Act of 2015 (TPEA) increases by as much as 150% the potential penalties for taxpayers that err in their ACA information reporting to the IRS or payees.

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On June 25, the Supreme Court upheld the ACA’s premium tax credits for qualifying taxpayers, whether they purchase coverage through a federal or a state exc ...

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Funding is a challenge for arts and cultural nonprofits, yet some have found inventive revenue streams. The bad news: they could be creating unrelated business ta ...

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When is an endowment not an endowment? If your organization is like many other nonprofits, you may be considering the possibility of a “quasi-endowment&rdqu ...

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From “ice bucket challenges” to Kickstarter campaigns, crowdfunding is redefining how many nonprofit organizations raise money.

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The IRS recently released guidance on two major areas affecting businesses—the Work Opportunity Tax Credit (WOTC) and the tangible property regulations, and ...

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The recently released ACA transition relief period for small employers (those with fewer than 50 full-time equivalent employees) includes 2014 and the first six m ...

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The IRS and Treasury proposed regulations that provide a definition of software developed primarily for internal use and describe software not developed primarily ...

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As tax rules evolve worldwide, companies with global operations need to adapt their corporate structures and tax strategies to maintain a tax advantage.

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Employers with medical reimbursement plans need to review them to ensure they don’t accumulate heavy tax penalties from noncompliance with Affordable Care A ...

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A summary of when various 2015 tax-related forms, payments and other activities are due for individuals and families, as well as businesses, corporations, partner ...

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California’s new filing requirement for like-kind property exchanges made under IRC Section 1031 covers like-kind exchanges that occur in tax years beginnin ...

Businesses, Individuals Benefit from Latest Tax Relief Extender Law

On Dec. 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), a stopgap measure that retroactively extends certain tax relief provisions through Dec. 31, 2014.

How to Recruit Your Nonprofit’s Next High Performer

It’s an age-old challenge: finding top finance talent when everyone is fishing in the same pool, from your nonprofit peers to deep-pocketed, for-profit corporations.

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In the nonprofit world, risks are everywhere and unwary organizations can be blind-sided. Consider these key areas of exposure and ways you can protect your nonprofit.

IRS Issues 2015 Cost-of-Living Adjustments

With inflation remaining in check, many cost-of-living amounts increased only slightly. As you implement 2014 year-end tax planning strategies, consider these adjustments.

Sales and Use Tax: An Integral Part of Any Corporate Tax Function

Sales tax is a tax on the sale at retail of tangible personal property and certain enumerated services. Leases generally fall within the definition of taxable sales. Use tax is a tax on the storing, using, co ...

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A fascinating fad … or the next evolution of nonprofit fundraising?

San Francisco Business Tax and Fee Changes Start in 2014

San Francisco voters approved complex and sweeping changes to the city’s business tax and annual business registration fees, via Proposition E.

Income Taxation: What Changes Will 2014 Bring?

Two little words can be used to describe what I predict will happen to the tax law in 2014: not much.

IRS Releases Latest Rules On ACA Reporting

The IRS has released a combined reporting form and simplified reporting methods to comply with recent ACA requirements.

Final FATCA Regs Remind Individual Investors of Reporting Requirements

The U.S. Department of the Treasury and the IRS have issued what is expected to be their final significant package of regulations implementing the Foreign Account Tax Compliance Act.  

Employers: Avoid ACA Penalties, But Only If You Act Now

The IRS has released some long-awaited final regulations (regs) for the Affordable Care Act (ACA)—with additional final regs on information-reporting requirements expected soon.

2014 Tax Calendar

To help you make sure you don’t miss any important 2014 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due for individuals, employers, businesses and others.

Global Expansion Top Tax Considerations for CFOs

CFOs seeking to gain a more strategic leadership role need to take charge of tax planning - one of the most important issues companies need to consider when expanding.

A Guide to Resolving Sales Tax Exposure for the pre-IPO Cloud CFO

  trends and insights

IRS Update: Final Rules on Investment Income and Medicare Tax

On Nov. 26, the IRS issued final regulations addressing the 3.8% net investment income tax and the 0.9% additional Medicare tax under the Affordable Care Act.

Nonprofits: Seeing Your Way Through Transparency

Since the IRS revised Form 990 more than five years ago to require additional disclosures, transparency has taken center stage with nonprofits.

Tax and Cost-of-Living Adjustments for Individuals

On October 31, the IRS released most cost-of-living adjustments for 2014.

Investing the Other 95%

You’ve met the 5% Minimum Distribution Requirement. Now, what do you do with the other 95%?

IRS Issues Sweeping Rules on Owning Tangible Property

The IRS released its highly anticipated final regulations regarding the deduction and capitalization of expenditures incurred to acquire, maintain and improve tangible property.

Deadlines Extended for Foreign Account Reporting Requirements

The Treasury and the IRS announced deadline extensions for some of the requirements in the final regulations implementing the Foreign Account Tax Compliance Act.

Effective Date for ACA Reporting Pushed Out One Year

The IRS has issued guidance on the recently announced delay in implementation of the Affordable Care Act’s information-reporting provisions and its employer shared-responsibility provision.

Supreme Court’s Decision Provides Many Same-Sex Couples Tax Savings

The U.S. Supreme Court’s decision in United States v. Windsor means that many same-sex married couples will be treated as married for federal tax purposes. 

Supreme Court: Decision Affects Tax and Benefits for Same-Sex Married Couples

On June 26, the U.S. Supreme Court issued two landmark decisions that could dramatically affect tax and estate planning for same-sex married couples.

Fundraising Events and Deductibility

We’re dusting off a couple of classic Revenue Rulings (Rev. Rul.) and moving them to the front of the shelf: Rev. Rul. 67-246 and Rev. Rul. 89-51. Each provides guidance that is as relevant today as when it was iss ...

Timing of Bonus Compensation Deduction

While it is widely understood that to obtain a tax deduction for a bonus compensation accrual the amount must be paid within two and a half months following the close of the tax year, the requirement that it also be fixe ...

Moving Your Business out of California

California continues to be one of the more expensive states to conduct business in. Before packing your bags and crossing the state line, there are a few things to consider on the tax side.

Nonprofits Aren't “Exempt” from ACA Penalties

If your nonprofit has not evaluated its potential costs related to the employer health care mandate (effective January 1, 2015), do not delay any longer.

Report of Foreign Bank and Financial Accounts Impending Filing Deadline

The purpose of this tax article is to draw your attention to a potential filing requirement with respect to Form TD F 90-22.1, “Report of Foreign Bank and Financial Accounts” (“FBAR”), which must ...
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Similar to the taxation of downloaded software 15 years ago, states are adapting or altering their taxing regimes to keep up with the evo ...

Disclosure of Uncertain Tax Positions: Are You in Compliance?

As a tax-exempt organization, you might think that the subject of “uncertain tax positions” doesn’t apply to you. Think again.

Sequester Cuts Take Effect

On Friday, March 1, President Obama signed an order required by law to set into motion the automatic federal government spending cuts known as the “sequester” which could have sweeping effects across a var ...

IRS Expands Relief Program for Employers with Misclassified Worker

In 2011, the IRS launched the Voluntary Classification Settlement Program (VCSP) that allows eligible employers to voluntarily reclassify workers as employees, rather than independent contractors, for future tax periods.

Employers, Are You Planning for the Health Care Mandate?

If your business has not evaluated its potential costs related to the employer health care mandate, do not delay any longer. 

Failure to Plan for the Health Care Mandate Can Cost Big $$$

Starting in 2014, employers can be subject to significant penalties if health care plans don’t “measure up” based on the ACA’s standards.

FASB Exempts Private Companies from a Fair Value Measurement Disclosure

The Financial Accounting Standards Board (FASB) recently issued guidance clarifying the applicability to nonpublic entities of a certain disclosure requirement regarding the fair value of assets and liabilities.

FASB Clarifies Disclosure Requirements for Offsetting

The Financial Accounting Standards Board (FASB) recently issued guidance clarifying which types of transactions will be subject to enhanced disclosure requirements for companies that offset assets and liabilities on thei ...

How the Fiscal Cliff Deal Affects Your Financial Statements

The American Taxpayer Relief Act of 2012 (ATRA) preserved lower income tax rates for most individual taxpayers and made many other income and estate tax law changes. It also extended a number of business tax breaks. LEARN MORE » 

IRS Provides Guidance for New 3.8% Tax on Net Investment Income

Recently, the IRS issued proposed regulations regarding the new 3.8% net investment income tax (NIIT, also known as the Medicare contribution tax) that was created by the Health Care and Education Reconciliation Act of 2 ...

Treasury and IRS Release Final Rules on Foreign Account Reporting

The U.S. Department of the Treasury and the IRS have issued comprehensive final regulations implementing Foreign Account Tax Compliance Act (FATCA) information reporting provisions.

American Taxpayer Relief Act

The American Taxpayer Relief Act of 2012 (ATRA), signed into law on Jan. 2, extends or makes permanent many provisions, and the IRS has now released the remaining inflation-adjusted amounts for 2013.

IRS Releases Guidance on Health Care Act’s “Play or Pay” Provisions

The IRS has issued extensive proposed regulations implementing the employer-shared responsibility provisions, also known as “play or pay,” of the Patient Protection and Affordable Care Act of 2010.

Deadline for Foreign Asset Reporting Extended for Some Filers

The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) announced the fourth in a series of deadline extensions for certain required filings in relation to foreign assets.

Tax Issues Surrounding Foreign Entertainers Performing Services in the U.S.

This article focuses on non-resident entertainers coming to the U.S. to work on short-term projects and not on non-residents who intend to live in the U.S. for extended periods of time.

Final Tangible Property Regulations Incoming

On November 20, 2012, the IRS and Treasury Department issued Notice 2012-73 alerting taxpayers to expect final regulations regarding the deduction and capitalization of expenditures related to tangible property in ear ...

When is Non-Profit Income Taxable?

Your 501(c)(3) organization generally is required to pay tax on income that isn’t related to its main purpose — even if that income keeps the not-for-profit afloat.
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Manufacturers are increasingly involving senior financial executives and outside financial advisors in their site-selection and relocation plans.

Considerations When Donating Appreciated Property to Charity

The tax law imposes stringent requirements for deducting charitable gifts of property. If you don’t observe all of them, your tax deduction might be reduced or even eliminated.

Election Results Leave Much Uncertainty About Tax Law Changes

President Obama’s reelection combined with Senate and House election results that leave both chambers of Congress at nearly the status quo means that much uncertainty about tax law changes remain.

IRS Releases 2013 Cost-of-Living Adjustments Related to Retirement Plans

On Oct. 18, the IRS released 2013 cost-of-living adjustments related to retirement plans. The adjustments can enhance your ability to benefit from IRAs and qualified retirement plans such as 401(k) plans and defined bene ...

2012 Year-End Tax Planning for Businesses

Flow-through businesses, which, at least for federal purposes, are subject to individual rather than corporate income tax rates face scheduled income tax rate hikes for 2013.

Expiring Laws, Election Year Complicate 2012 Year-End Tax Planning

Most 2012 income tax rates are scheduled to increase in 2013, and many tax breaks are set to expire.

Some Clarity After Supreme Court Ruling on the Affordable Care Act

On June 28th, 2012, the Supreme Court upheld the Affordable Care Act by a 5 to 4 vote, saying that the Act’s requirement that American’s obtain insurance or pay a penalty was authorized by Congress’s po ...
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