All Articles
Unclaimed Property: The Stink of Stale Checks
Many companies have their share of outstanding checks cluttering their bank reconciliations, and contractors are by no means different. Reasons can…
Valuation Drivers in CACI’s $820M Announced Acquisition of Six3 Systems
CACI International’s recently announced acquisition of GTCR portfolio company Six3 Systems (“Six3”) represents the largest Government Services transaction since General…
Lease Accounting Exposure Draft Faces Criticism
The Financial Accounting Standards Board and International Accounting Standards Board issued a revised Exposure Draft on May 16, 2013, recommending…
What’s at the Top of Your List, DCMA?!
The DCMA (Defense Contract Management Agency) discussed their key initiatives to include forward pricing rate development, disclosure statement revisions, pre-award…
The Government Shutdown and the IRS
Employees Get Furloughed but the Tax Law Goes On! When the government shut down on October 1st, the IRS, along…
Government Contractor Purchases: Taxable or Not?
We all know that a government contractor’s sale to the government is not a transaction subject to sales tax, but…
IRS Continues to Target Interest Expense Deductions on Intercompany Debt
Tyco International Ltd. filed a case in the US Tax Court in August 2013, in which the company asserted that…
Virginia’s New Sales Tax Rates: What Rate Applies?
Virginia’s increased sales tax rates took effect on July 1, 2013, and complying with the new rates will not be…
IRS Rules that Mexican Land Trusts are Not Foreign Trusts for Tax Purposes
On June 6, 2013, the IRS issued Revenue Ruling 2013-14, in which it found that Mexican Land Trust (“MLT”) arrangements…
Consideration of Variable Interest Entities
Since the introduction of new rules for variable interest entities (VIEs) after the Enron debacle, many companies have faced somewhat…
Basic Tax Tips for Negotiating a Sec 338(h)(10) Transaction
In an acquisition scenario where an S corporation is the target, it is common for the S corporation’s shareholders and…
OASIS Request for Proposal Series #4: Pricing Proposal
Thank you for continuing to follow our special GSA OASIS blog series. In case you missed it, GSA released the…
Offshore Voluntary Disclosure Program Still Open for Quiet Disclosures and Formal Disclosures
In January 2012, the IRS extended the Offshore Voluntary Disclosure Program. The program allows U.S. taxpayers to pay penalties and…
UPDATED, GSA OASIS Draft RFP Series, #3 Contractor System, Certification and Clearance Requirements
UPDATE 7/22/13: GSA’s OASIS Program Team released its revised draft RFP late last month. There have been several minor changes…
Worker Classification: Voluntary Classification Settlement Program vs. Section 530 Relief
The world of worker classification is still fraught with great uncertainty. The distinguishing factors between an employee and an independent…
The LPTA Environment – Here to Stay?
In the current government contracting environment, LPTA is becoming a very common acronym. What does LPTA stand for, you might…
Consider a Sec 336(e) Election When Planning an Acquisition or Sale Transaction
When negotiating your next business acquisition or sales transaction, don’t be so quick to dismiss an election under Section 336(e)…
Recent U.S. Weapons Systems Hack Foreshadows Continued Investment in Cybersecurity
A nonpublic report received by The Washington Post late last month has identified over two dozen major U.S. defense and…
Maximizing Sec 382 Limitation Calculations for C Corps
If you are a C Corporation with substantial net operating losses (NOLs) carried forward subject to IRC Sec 382 limitation…
The “Back Door” Roth IRA Contribution
The Roth IRA presents a great opportunity to put money away for retirement and withdraw it all, free of tax….
Maryland Increases and Decreases Security Clearance & SCIF Credits
The Maryland legislature has increased the income tax credit for employer costs related to obtaining federal security clearances and constructing…
You Can’t Just Move to Florida
Georgia Taxation of Stock Options and Deferred Income (Nonqualified Options) By Mitchell Kopelman, partner-in-charge of Tax, and Jess Johannesen, SALT…
Caution: More than One Type of U.S. Federal Tax Withholding Could Be Required for Foreign Partners in a U.S. Partnership
It is very important for a U.S. partnership to determine the residence status of all partners in the partnership. A…
Caution: FIRPTA Withholding Exemption Certificates—Mirage or Oasis?
The Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) requires foreign persons who sell U.S. real property (or…
Exceptional Investor Tax Benefits Available
By Mitchell Kopelman, partner, and Ori Epstein, partner Owners of qualified small business stock may be eligible for a 100…
Yes, That is DCAA’s Website!
At first glance I thought I had accidentally gone to DCMA’s website instead of DCAA. It has a similar feel…
eBuy Mobile: Access GSA Schedule RFQ Opportunities on Your Mobile Device
GSA has taken the first step in its new eBuy mobile initiative. eBuy vendors can now login to eBuy on…
The Importance of Sourcing Software License Royalty Income
If a US company pays a royalty to a foreign company for the use of a software license, there is…
Washington, DC Named One of the Best Places for Tech Startups
Based on a report by the National Venture Capital Association, Network World has compiled its list of best places for…
“C” Corp Reasonable Compensation
A recent case (TC Memo 2013-10) upheld the taxpayer’s deduction of compensation to its officer as reasonable. The taxpayer (a…
Keep Your GSA eBuy Quote Out of the Trash
GSA’s eBuy is a Request for Quote (RFQ)/Request for Information (RFI) system designed to allow government buyers to request information,…
Tax Tip: Home Office Deduction Safe Harbor
In a newly issued Revenue Procedure 2013-13, effective for tax years starting on or after 1/1/2013, the IRS has created…
The Importance of Sourcing Software License Royalty Income
If a US company pays a royalty to a foreign company for the use of a software license, there is…
ACA Tax Credits for Nonprofits
Nonprofits are eligible for tax credits that put cash into their coffers. A free study is available for your organization….
Evolve: Upgrade to Deltek Costpoint 7 – Don’t Wait til the Last Minute…
Deltek recently released a product alert indicating that Costpoint 6.1 SP2 will move into sustained support effective October 1, 2013….
The Deltek GCS Premier Forgotten Reports – What’s on Your Monthly List?
While many companies focus on their Income Statement for evaluating performance, GCS Premier offers many other out-of-the-box reports that are…
Substantiation of Charitable Contributions
The documentation requirements taxpayers must maintain in order to take a charitable contribution deduction on their tax return have been in place…
GSA Schedule Contract Extension – What You Need to Know about OPEN
Those that went through the GSA Contract extension process in the past know that it was often fraught with disjointed…
Positive News from the November ABI Index Reading
The American Institute for Architects’ ABI Index posted positive for its third straight month. As noted in the full report,…
Transfer Pricing – General Principles, Penalties and Contemporaneous Documentation
General Principles – Transfer pricing is relevant for U.S. companies with foreign subsidiaries or foreign parent companies that engage in…
Small Business Subcontractors to Receive Accelerated Payments
The Office of Management and Budget Memorandum M-12-16, dated July 11, 2012, required agencies to accelerate payments to prime contractors…
The Basics to Know About Foreign Tax Credits
1. Foreign Taxes Paid by a US Company Conducting Business Activities Directly in a Foreign Country or through a Foreign…
Small Business Subcontracting Plan eSRS Reports Due Tuesday, 10/30!
Large business Federal contractors with small business subcontracting plans are required to complete reporting via the Electronic Subcontract Reporting System…
Jurisdiction to Tax Income Earned in a Foreign Country
If a U.S. company performs a contract, provides services or does some type of work directly in a foreign country…
Tool Reimbursement Plans – Considerations for Contractors
Tool reimbursement plans are typically seen in service contractors, home builders, or other businesses that require employees to use and…
SBA Increases Size Standards in 3 NAICS Sectors; 18,600 Additional Businesses Qualify As Small
The U.S. Small Business Administration (SBA) issued three final rules in the Federal Register, effective Oct. 24, 2012, increasing size…
Affordable Care Act-Required MLR Rebates Have Started to Arrive
As a result of the Affordable Care Act (ACA), some employers that sponsor group health plans have begun receiving Medical…
Government Contractors’ Accounting System Risks and Internal Controls
Allowing unauthorized access into your accounting system could lead to a manipulation of your accounting data or even fraud. Unauthorized…