United States

The Tax Exchange - March 2017

Comprehensive tax reform could call into question US tax treaties

TAX BLOG

Comprehensive tax reform could call into question US tax treaties

As the idea of comprehensive tax reform continues to move forward, the House Republican Blueprint has become a major topic of discussion, fueling both commentary and questions around this potentially far-reaching overhaul of the U.S. system of taxation.

  • March 30, 2017
Affordable Care Act repeal efforts discontinued by Congress

TAX BLOG

Affordable Care Act repeal efforts discontinued by Congress

On March 6, 2017, the Republication party released an initial draft of the American Health Care Act in an effort to repeal and replace the Affordable Care Act. But due to opposition, the repeal efforts have been discontinued by Congress.

  • March 28, 2017
Nexus, apportionment and tax base: A state tax compliance trifecta

TAX BLOG

Nexus, apportionment and tax base: A state tax compliance trifecta

The federal tax code is notoriously complex, but a multi-state and local tax professional may find managing 51 state-level taxing jurisdiction and countless locals a much more difficult task.

  • March 27, 2017
Cayman extends deadline for common reporting standard reports

TAX BLOG

Cayman extends deadline for common reporting standard reports

The Cayman Islands has extended the deadline for common reporting standards (CRS) reporting to July 31, 2017, and has extended the deadline for financial institutions (FIs) to notify the Cayman government of their intent to file CRS reports to June 30, 2017.

  • March 23, 2017
Don't forget the tax benefits of certain capital investments

TAX BLOG

Don't forget the tax benefits of certain capital investments

According to the recent Middle Market Business Index results, future capital expenditures are increasing, especially with smaller companies. When that capital expense is directed toward product or process innovation and improvement, the R&D credit, can become a valuable tool to improve ROI.

  • March 21, 2017
Sixth Circuit ruling sets boundaries to substance-over-form doctrine

TAX BLOG

Sixth Circuit ruling sets boundaries to substance-over-form doctrine

The Sixth Circuit Court of Appeals recently overruled the Tax Court and ruled against the IRS to allow a taxpayer to own a Domestic International Sales Corporation (DISC) through a Roth IRA. At its core, the Circuit Court’s opinion addressed the IRS’s application of the substance-over-form doctrine.

  • March 16, 2017
Are local tax prepayment benefits worth it?

TAX BLOG

Are local tax prepayment benefits worth it?

Many states and localities offer taxpayers rate reductions and other benefits for prepayment of taxes. So, should you prepay? The answer to that question depends on a number of factors.

  • March 14, 2017
Do your PTO policies create tax complexity?

TAX BLOG

Do your PTO policies create tax complexity?

Employers seeking to attract and retain the best employees often turn to creative incentives around vacation and sick leave policies, (a.k.a., paid time off or PTO). Some progressive companies are offering employees the option to cash out PTO on an as-needed basis. This creates an interesting tax predicament.

  • March 10, 2017
Taxes are a critical component of any business growth plan. Here’s why.

TAX BLOG

Taxes are a critical component of any business growth plan. Here’s why.

Every day I meet with business leaders who are working hard to grow. Grow profits, grow margin, grow market share. Nearly every strategic decision you are making has tax implications and these implications need to be considered in advance.

  • March 08, 2017
Updated IRS audit guide gives insight to golden parachute treatment

TAX BLOG

Updated IRS audit guide gives insight to golden parachute treatment

Is your company a C corporation that may be undergoing a change in control? If so, you should be aware of the potential adverse tax consequences that may result from the payment of “golden parachute payments.”

  • March 06, 2017
Tax compliance season reminders for globally active businesses

TAX BLOG

Tax compliance season reminders for globally active businesses

One of the most unrelenting trends in U.S. tax compliance is the constant addition of new, and sometimes overlapping, disclosure requirements for foreign investments and transactions. Penalties for missed disclosures can be quite large, so taxpayers should be very mindful of these requirements.

  • March 03, 2017
Maximizing tax depreciation deductions for landfill costs

TAX BLOG

Maximizing tax depreciation deductions for landfill costs

Landfill owners typically incur numerous types of costs for the acquisition of land, related preparation, and regulatory approval to fill on that land. However, many owners do not properly recover all of the associated costs—including a portion of the land itself—via depreciation deductions.

  • March 02, 2017