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The Pulse on the Economy and Capital Markets: April 19–23, 2021
Executive Summary Mixed Signals: Earnings of companies started stronger than expected last week, though markets did not react to the…
The Wonderful World of OZ: What Proposed Regulations on Opportunity Zones Mean for You
At a Glance: International Investors, Take Note: The IRS and Treasury have proposed new regulations regarding the requirements around opportunity zones,…
New York and Georgia Legislatures Enact Pass-Through Entity Taxes
By: Jeff Glickman, SALT Partner at Aprio At a glance: The Main Takeaway: The New York and Georgia state legislatures have…
The Pulse on the Economy and Capital Markets: April 12–16, 2021
Executive Summary Crypto Dominates Headlines: Markets initially reacted positively to the Coinbase listing, while bank earnings were optimistic on the economy….
Webinar: How Data Drives the E-Commerce World
From information about product returns to details on your customers and website visitors, data fuels growth in today’s technology-driven marketplace….
Portfolio Companies: Are You Eligible for the ERC?
30 Second Summary: Portfolio Companies and the ERC: While a controlled group relationship is generally unlikely between a private equity firm…
Getting Sage 300 CRE Data Into Excel
How much time do we spend in Excel entering data vs. analyzing it? Too much. Keep reading to learn some…
Top 3 Considerations For A Dental Startup: Starting or Buying a Dental Practice
At a Glance: So, You Want to Start a Business: How will you pay for your new practice? The bank and…
The Pulse on the Economy and Capital Markets: April 5–9, 2021
Executive Summary A Solid Start to Q2: The markets kicked off the quarter with strong performance, amid optimism about the U.S….
Controlled Groups: What You Need to Know about the ERC
30 Second Summary: The Full Story: If your company is part of a controlled group, you may still be eligible…
Are Remote Fraud Investigations Equally Effective?
30 Second Summary Increased Fraud: The pressure and opportunities created by the pandemic are driving more fraud, while social and travel…
Transfer Pricing and COVID-19 – Time to Re-Examine Your Policy
At a Glance Multinational Companies Beware: Economic impacts from COVID-19 may require a new transfer pricing policy to avoid future penalties….
The Do’s and Don’ts of Corporate Compliance
At a glance: COMPLIANCE VS COMPLACENCE: Many corporate compliance programs fail to pass muster, but the DOJ guidelines for evaluating…
Government Contractors Impacted by Maryland’s New Sales Tax on Digital Products
Maryland’s sales and use tax was recently expanded to include the taxation of “digital products.” Despite the sale of products or…
Don’t Sell Yourself Short on the ERC – Reevaluate Your Small Employer Status
At a Glance: The full story Eligibility aside, the size of your workforce is one of the most influential factors…
The Pulse on the Economy and Capital Markets: March 29 – April 2, 2021
Executive Summary Economic Excitement Takes Center Stage: The U.S. market had a stellar showing last week, while the riskiest part of…
Top 4 Basic Cybersecurity Steps Payment Facilitators Should Take
At a Glance: Risk vs Reward: Though there are many advantages to becoming a payment facilitator over using the traditional payment…
IRS Final Regulations on Foreign Tax Credits: New Compliance Headaches
At a Glance: IRS Final Regulations Update: The IRS has released the long-awaited final regulations for foreign tax adjustments, which the…
Have a Vacation Home in New York? Double-Check Your Tax Liability
By: Jess Johannesen, Senior Manager, State & Local Tax Services At a Glance: The Main Takeaway: The New York State Tax…
Amended Texas Franchise Tax Apportionment Regulation Adopts Significant Sourcing Changes
By: Jeff Glickman, partner-in-charge of Aprio’s SALT practice At a Glance: The Main Takeaway: The Texas Comptroller of Public Accountants has…
How the Products You Sell Impact Your Purchase Exemptions
By: Tina M. Chunn, CPA, State and Local Tax Senior Manager at Aprio At a Glance: The Main Takeaway: Two advisory…
To Tax or Not to Tax? Using the True Object Test to Assess Sales Taxability
By: Betsy Tuck, State and Local Tax Manager at Aprio At a Glance: The Main Takeaway: In today’s growing, tech-fueled economy,…
FFATA Reporting Requirements
FFATA (Federal Funding Accountability and Transparency Act) reporting is required by all prime awardees that enter into subawards for $25,000…
IRS Declines to Extend Due Date for First-Quarter Estimated Tax Payments
At a glance: The IRS has confirmed its extension of the filing due date for 2020 individual income tax returns…
Top-3 Fraud Vulnerabilities Associated with Remote Work
30 – Second Summary: The Main Takeaway: Though remote work has the potential to leave you open to fraud, there…
The Top 4 Myths About the Employee Retention Credit
30-Second Summary: The Main Takeaway: Businesses could obtain up to $33,000 per employee if they are eligible for the Employee Retention…
Maryland Comptroller Interprets Taxable “Digital Products” to include Almost Everything
On February 12, 2021, the Maryland General Assembly overrode the Governor’s veto of House Bill 932, making Maryland the most…
Is Vendor-Hosted Software Taxable? A New Rhode Island Ruling Offers Clarity to Providers
For sales tax purposes, when classifying a transaction as taxable software or a nontaxable service, states will often apply the…
Intercompany Transactions: How Diligent Documentation Can Help You Avoid B&O Tax Liability
Although intercompany transactions will typically net out for income tax purposes, that isn’t necessarily the case for states that impose…
The Liquidation Exception to Business Income: When It Does and Doesn’t Apply
Some states provide an exemption to business income for liquidations and will instead classify gains from such transactions as nonbusiness…
Funded R&D Project Documentation is Essential to Claim Credits
The R&D federal tax credit is a lucrative benefit for small and large businesses across industries. But if you don’t…
The Newly Extended Solar Investment Tax Credit Can Brighten Your Business
Despite the news coverage, the Consolidated Appropriations Act, signed by President Trump on Sunday, December 27, 2020, contains more legislation than…
EIDL Advances No Longer Reduce PPP Loan Forgiveness
On January 8, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – Repeal of Economic Injury Disaster…
Maryland’s RELIEF Package Provides Sales Tax Credit for Small Businesses of up to $12,000
On February 13, 2021, the Maryland legislature approved Governor Larry Hogan’s Recovery for the Economy, Livelihoods, Industries, Entrepreneurs and Families…
Who Should Your First Accounting Hire Be: Controller, Senior Accountant, or CFO?
Congratulations on successfully establishing your business and beginning operations! Now that you’re up and running, you may be considering your…
International Tax M&A Due Diligence for U.S. Government Contractors
Many US government contracting companies are continuing to expand their global footprint by performing contracts in other countries. The opportunity…
The Pulse – What’s Happening in the Economy and the Capital Markets Dates covered: 2/1/21 – 2/5/21
Executive Summary It was a strong week in the markets, reflecting a good earnings season — but with the positive…
When to File CFC Interest Expense Limitation Elections
The TCJA U.S. Federal tax reform legislation enacted a business interest expense limitation applicable to U.S. taxpayers. The new rules…
The Corporate Transparency Act Gets Tough on Shell Companies
Over the last tumultuous year, a slew of new legislation has been passed, primarily in response to the pandemic and…
Arkansas Legal Opinion Highlights the Treatment of Services Provided with the Sale of Property
When a seller of goods also provides services in connection with its product sales, those services may be subject to…
Does Participation at a Trade Show (Post-COVID) Create Sales Tax Nexus?
Hopefully, in a post-COVID world, in-person trade shows will give businesses an opportunity to market and display their goods and…
S Corporation Acquisitions with Foreign Target Corporations
There are a couple of different structuring options for the acquisition of an S corporation. A buyer that is a corporation…
U.S. Government Contractors and Foreign Branch Reporting on Form 8858
Beginning with the tax year 2018, the IRS now requires US taxpayers to file the US federal Form 8858 to…
The Pulse – What’s happening in the Economy and the Capital Markets : 1/18/21 – 1/22/21
Executive Summary The economy and the markets are continuing their healthy start to the year — recent government data shows…
Maryland’s Pass-through Entity Tax Election: Is There a Benefit for Restaurants, Hotels, Distributors and Retailers?
Recent IRS and Maryland publications have provided additional guidance and clarification on Maryland’s pass-through entity (PTE) tax election. The election…
The Key Reporting Changes Provider Relief Fund Recipients Should Know for 2021
The Key Reporting Changes Provider Relief Fund Recipients Should Know for 2021 Healthcare providers that received Provider Relief Fund (PRF)…
Second Draw PPP Loan Application Released by SBA
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Second Draw Borrower Application Form, SBA Form 2483-SD, for…
First Draw PPP Loan Application Eligibility and Requirements
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses applying…