Insights

Corporate Philanthropy: Why Doing Good is Good for Everyone

One of the core responsibilities of any business leader is to motivate the team. They must keep team members engaged and give them reasons to feel good about their employer. Today, it’s no secret that more team members, especially from younger generations, want to work for a company that is dedicated to more than just themselves.

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Corporate Philanthropy: Why Doing Good is Good for Everyone2020-01-17T19:51:39-05:00
Tax| Jan 13, 2020

Planning for the Negative Tax Impact of the SECURE Act on your IRA and 401(k) Beneficiaries

Featured| Jan 13, 2020

In this era of Congressional contentiousness, any legislation that comes out of those chambers with bipartisan support deserves note. Such is the case with the SECURE Act, an acronym for “Setting Every Community Up for Retirement Enhancement,” which was passed last July by a near-unanimous vote in the House of Representatives. But the SECURE Act also warrants a note of caution for those heavily invested in IRAs and/or 401(k) plans because it truly is a “game-changer,” and not for the better, when it comes to the distribution and taxation of withdrawals from inherited plans.

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Planning for the Negative Tax Impact of the SECURE Act on your IRA and 401(k) Beneficiaries2020-01-13T11:19:14-05:00
Uncategorized| Jan 07, 2020

Technology and Taxes: The Accountant’s Responsibility

Featured| Jan 07, 2020

In the world we live in today, the only way to avoid becoming a victim of malware and/ or identity theft is to disconnect yourself and your workstation from the internet. Unfortunately in today’s business environment, that is not an option. Read the latest article by CIO, Gurjit Singh, entitled ‘Technology and Taxes: The Accountant’s Responsibility,’ to learn more about how you can take steps to secure both your own and client’s information and take a more vigilant approach in the exponentially evolving world of technology and information-transfer.

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Technology and Taxes: The Accountant’s Responsibility2020-01-09T11:02:41-05:00

Putting AI to Work for Your Nonprofit: It’s Not a Question of ‘If’ but ‘When’

When asked recently if he knew how algorithms worked, a friend replied, “I don’t need to know how something works. I just need to know it works.” Of course, algorithms “work” for us every single day.

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Putting AI to Work for Your Nonprofit: It’s Not a Question of ‘If’ but ‘When’2020-01-14T13:19:32-05:00

The Indian Tax Rate Cuts

India has recently cut its corporate tax rates in a bid to revive its stagnant economy. The move has widely been seen as a positive and much needed one and sees the rates cut as follows: Companies that don’t seek exemptions will see their tax rate cut from 30% to 22% before surcharge and cess.

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The Indian Tax Rate Cuts2020-01-14T14:45:05-05:00

Beware of the “Clawback” Claim, but Also be Aware that it is as Much an Accounting Issue as a Legal One

There will be a time when your client's customers will go through a rough patch and have the need to file for bankruptcy protection. Before filing, one of these customers may, out of loyalty or with an eye to the future, pay this client. But if your client receives this sum less than 90 days prior to the debtor's bankruptcy filing, this payment could be deemed a "preferential payment," meaning your client may be required to return this sum for inclusion in a bankruptcy estate for equitable distribution among the debtor's creditors.

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Beware of the “Clawback” Claim, but Also be Aware that it is as Much an Accounting Issue as a Legal One2020-01-02T13:46:29-05:00

US State-to-State Business Travel Compliance and Risks

While organisations often overlook tax-compliance requirements related to business travel, the days of simply traveling to and working in a different state or country for business without a thought to tax liabilities are coming to an end. Looking for additional tax revenue, US state taxing authorities are becoming stricter and more vigilant in monitoring business travel. Extensive time spent on business travel in a country outside the US, or even a different state within the US, could create a PE exposure for the employing entity.

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US State-to-State Business Travel Compliance and Risks2020-01-03T13:42:03-05:00

While Relinquishing One’s US Citizenship Can Mitigate Estate and Gift Tax Obligations

Relinquishing one's US citizenship can mitigate an individual's estate and gift tax obligations, but a "Covered Expatriate"* should plan carefully when disposing of assets. Internal Revenue Code Section 2801 imposes a tax on US citizens or residents who receive certain gifts or bequests from Covered Expatriates (CEs). Even if the property is non-US-situs property, all of it is subject to the 2801 taxing regime.

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While Relinquishing One’s US Citizenship Can Mitigate Estate and Gift Tax Obligations2020-01-07T14:07:51-05:00

US Anti-Corruption Laws and Their InternationaI Reach

As long as greed exists, so does corruption. To combat corruption, the US enacted the Foreign Corrupt Practices Act (FCPA). Its provisions prohibit offering, authorizing, or making payments of money or anything of value to influence the decision making of foreign government officials to obtain or retain business.

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US Anti-Corruption Laws and Their InternationaI Reach2020-01-03T13:20:09-05:00

How the Change in US Sales Tax Rules has Impacted International Sellers

On 21 June 2018, the US Supreme Court passed a landmark decision that transformed the landscape of sales tax in the US. The South Dakota vs Wayfair decision effectively permitted states to create new rules for sales ­tax collection requirements based on the dollar or transactions amount of sales - otherwise known as economic nexus. Previously, companies were only required to collect sales tax based on a physical presence test.

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How the Change in US Sales Tax Rules has Impacted International Sellers2019-10-15T14:41:12-05:00