Archive for August 2015
Your Cloud Migration Could Actually Save You Money
By Carli McDonald, partner-in-charge of R&D Tax Credit Services Are you in “the cloud” or considering moving a portion of your company to the cloud? If so, you may be eligible for the Research and Development (R&D) Tax Credit. Shifting to “the cloud” or operating businesses via the cloud is an emerging trend in many…
Read MoreState Your Own Tax Credit Amount: California Competes Tax Credit
California has established an incentive called the California Competes Tax Credit that can be awarded to businesses creating new jobs and/or making new capital investment in the state. The credit is a negotiable income tax credit where the taxpayer actually requests the amount of credits they want. Credits are awarded using a three-step, competitive review…
Read MoreHA&W’s ComplianceSuccess® Program Announces Safety Net for Title Agents
Firm’s promise protects its agents from uncertainty of ALTA Best Practices compliance August 11, 2015- Title agents who partner with HA&W, LLP’s ComplianceSuccess Program are facing a unique challenge as the title and settlement industry evolves its policies and procedures. That is why HA&W has announced that it will provide its title-agent clients with a…
Read MoreState & Local Tax (SALT) Newsletter August 2015
https://www.aprio.com/media/newsletters/SALTnews-8-15.html
Read MoreWhat is a ‘Standard Audit Opinion?’
The standard opinion for audits of financial statements conducted in accordance with “auditing standards generally accepted in the United States” (GAAS) explains which financial statements were covered in the audit, the basis of accounting (typically accounting principles generally accepted in the United States of America [GAAP]) applied in preparing the financial statements, management’s responsibility for…
Read MoreThe Impact of the Internet of Things on Manufacturing
By Adam Beckerman, partner-in-charge of Manufacturing and Distribution, and David Siegel, assurance senior manager Imagine a world in which industrial accidents don’t happen, a world where scrap doesn’t exist, a world where machines don’t break. In the next couple of decades, all of this could exist, and that will only scratch the surface. The world…
Read MoreWouldn’t It Be Great If Your Customers Paid You Faster?
By Mitchell Kopelman, partner-in-charge of Tax As a small business owner, do you worry about your cash flow? Small businesses are the backbone of the U.S. economy, accounting for 63 percent of net new private-sector jobs, 48.5 percent of private-sector employment and 42 percent of private-sector payroll. [1] However, due to conventional invoicing and payment…
Read MoreDisguised Payments Defined as Proposed Regulations Issued
By Jeff Winland, tax partner Current partnership law allows for many contributions and distributions of cash between a partnership and its partners to be treated as adjustments to the partner’s basis in his partnership interest, rather than a taxable event. However, there are certain situations where services or property are contributed and the classification of…
Read MoreIRS Declares No Statute of Limitations on Tax Shelters
By Jeff Winland, tax partner The Chief Counsel of the IRS in a very recent Advice, (CCA) #201531019, has concluded that there is no tolling of the statute of limitations period in the case of a tax shelter which fails to register for a Tax Shelter Registration Number. According to the Chief Counsel, the IRS…
Read MoreIRS Regulation Brings Clarity to Apportioning Income for Partnerships with Changing Interests
By Jeff Winland, tax partner, and Tage Kelkar, tax associate The IRS has recently released a new set of regulations, NPRM REG-109370-10, under Code Sec. 706(d), which set forth new choices for income allocations for partnerships with changing interests. The regulations create the varying interests rule, which recognizes that the annual income and expenses allocated…
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