Posts Tagged ‘Tax Reform’
The OECD’s Two-Pillar Solution Poses Big Tax Changes for International Businesses. Will You Be Affected?
At a glance Schedule a consultation with our International Tax team today and start the conversation. The full story: Multinational businesses, prepare for big tax changes on the horizon over the next two years. Last fall, the OECD announced that qualifying businesses with a foreign presence will be subject to a 15% minimum tax rate…
Read MoreDigital Asset Staking: Your Top Tax Questions, Answered
At a glance Schedule a consultation today The full story: As its name implies, the United States Internal Revenue Code sets forth rules for how income is taxed in the U.S. Income is defined as “revenue received for goods or services, or from other sources, as rents or investments” or “the money, or amount of…
Read MoreNew Guidance from the IRS Makes Claiming R&D Credits More Complex
At a glance Schedule a consultation with Aprio’s R&D Tax Credit Team today. The full story: In the fall of 2021, the Internal Revenue Service (IRS) issued a Chief Counsel Memorandum requiring stricter reporting and documentation for any taxpayer making an amended claim for a refund arising from an R&D tax credit. In order to comply…
Read MoreThe Good News About Build Back Better Act (BBBA) Not Moving Forward
The Full Story The BBBA eliminates a permitted exclusion in the Net Investment Income tax provisions by subjecting all trade or business income of individuals with earnings over $400,000 (individual) or $500,000 (married couples) to the 3.8% net investment income tax—except to the extent already subject to self-employment tax. This is an unfavorable change for…
Read MoreThe Bad News Not Being Reported on the Demise of the Build Back Better Act
At a glance The main takeaway: With the demise of the Build Back Better Act (BBBA), a clause from a 2017 tax legislation is resurfacing that will heavily impact any company who performs or invests in research and development. Impact on your business: The 2017 tax act will force many companies to now budget or use working…
Read More1031 Exchanges –Navigating Related Party Exchanges
At a glance: The main takeaway: With careful tax planning, 1031 exchanges offer taxpayers an opportunity for big savings on income taxes. Know the risks: Few good things ever come easy, and 1031 exchanges are no different. One of the biggest risks is structuring a transaction with a related party. Next Steps: Taxpayers can often mitigate the risks…
Read MoreThe DOL Delivers Final Ruling on Reinstated 80/20 Rule
At a glance Schedule a free consultation with Aprio’s Restaurant, Franchise & Hospitality team today. The full story: On October 29, 2021, the U.S. Department of Labor (DOL) published a final ruling on “dual jobs,” which will reinstate the 80/20 rule as well as introduce a new 30-minute rule for tipped employees. The final ruling…
Read MoreCatch Them if You Can: Fraud in the Film Industry
At a glance: Schedule a consultation with our team today. The full story: The film industry often evokes visions of Hollywood grandeur, enticing many to pursue a career in acting, directing, or producing. However, the glittering and glamorous lifestyles of the rich and famous often overshadow the seedy underbelly of an industry that can be…
Read MoreBuilding a Better AML Program for Money Services Businesses
At a glance: Schedule a consultation today with one of Aprio’s Certified Anti-Money Laundering Specialists The full story: From the check-cashing business on the corner to the prepaid gift cards in your local convenience store, there are many ways to access and exchange money outside of standard banking institutions. While these alternatives can be an…
Read MoreDouble Edged Sword – International Taxation Proposals Under The Recent Build Back Better Act May Result in Increased Tax and Compliance Challenges
At a glance To learn more about these potential impacts, schedule a free consultation today. The full story: The Build Back Better Act (BBBA) is the centerpiece of President Biden’s domestic social policy agenda and has been the subject of lengthy negotiations among House and Senate Democrats. This tax overhaul, like almost all tax-related legislation over the…
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