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Get Ready, Get Set To Be A Remote Tax Professional

Kat Jennings

The number of tax professionals who call us each week about remote work is increasingly steadily. Guaranteed the trend towards remote tax jobs will grow dramatically in the years ahead. What tax professionals want to work remote? What is really happening right now causing this trend? How can you raise your hand to be considered for remote tax opportunities? What companies are looking for remote tax workers?

If you have been following my blogs these past few months, you are learning that there are many good reasons the remote tax workforce is growing. Corporations now hire many remote tax experts as consultants; tax and accounting services firms have been outsourcing remote tax consultants for years; law firms are more accepting of research being conducted by lawyers who prefer to work part-time from home; and governments are now studying a remote government tax workforce and implementing test programs. All of these organizations have something in common; they are saving money on rental office space, and many are even saving on computer and phone equipment. Remote workers also reduce the amount of traffic on the road during heavy commute time. Given that some states are now planning to tax those on the road during heavy traffic hours, it is obvious the remote tax work force will continue to grow.

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Sell Your Property And Pay Taxes Later – What Are Like-Kind Exchanges?

Haik Chilingaryan - Like-Kind Exchange

In the event that an investor should be involved with a sale or exchange of real estate, it is critical to understand the benefits and scope of “Like-Kind Exchanges.” Generally, the sale and exchange of property is a taxable event. However, under Section 1031 of the Internal Revenue Code, an investor may qualify for the taxable gain from the exchange to be deferred indefinitely.

Prior to the passage of the “Tax Cuts and Jobs Act of 2017” (otherwise known as the GOP Tax Plan or the Tax Reform Bill), both personal property and real property exchanges were granted the tax-deferred treatment. The new law now limits the deferral treatment for exchanges involving only real estate transactions.

The scope of permissible tax-deferred exchanges is very broad, including the exchange of an apartment building for a vacant lot. However, like-kind exchanges generally do not apply to primary residences and vacation homes. They only apply to exchanges of real property held for the purpose of investment or for productivity use or used in a trade or business. In addition, the property received in the exchange must also be held for the same or similar purpose. Our firm can help an investor decide whether a like-kind exchange is suitable to his or her circumstances.

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250+ Inspirational And Motivational Quotes To Manage Your Team And Life

It is important to feed your your mind with inspirational and motivational thoughts each day; in fact, it is healthy. There are people around us that look at the world in many different ways. You have the ability to redirect the minds those around you in a positive way. It is the person with a great attitude that people are most attracted to be around and listen to most. Our complimentary eBook “250+ Inspirational And Motivational Quotes” provides you with phrases you can pass on along to those around you.

Use this compilation of inspirational quotes to communicate with those you manage in your professional life and as well as friends and family in your personal lives. Inspirational quotes help you connect with people and let them know you care, you are thinking about them, and you want to invest the time in them. Start your day reading these quotes and sharing them. We have done the research in compiling these quotes for you to share.

We invite you to download this eBook and use the inspirations to motivate your team, friends and family.

Request 250+ Inspiration And Motivational Quotes

 

 

Dutch Dividend Withholding Tax Exemption: What Are The Constraints?

Jimmy Cox

The first of January 2018 was the effective date of expansion of the Dutch dividend tax withholding regime. It was also the date of duty notification being imposed regarding the application of the taxation exemption in respect of dividends paid out to non-Dutch based recipients. This blog discusses said newly introduced duty of notification by elaborating on the following themes: “Dividend withholding tax specification”, “Dividend withholding tax exemption conditions”, “Abuse of dividend withholding tax exemption” and “Artificial construction in connection with dividend withholding tax”.

Dividend Withholding Tax Specification

It is compulsory within one month of the dividend payment date to notify the Dutch Tax Authorities accordingly – using the designated “Dividend withholding tax specification” form – where use is being made of the dividend withholding tax exemption. The Tax Authorities use the relevant information in assessing whether the distributing company or holding cooperative has rightly availed itself of withholding exemption. Please note that the tax authorities are authorized to impose default surcharges of up to € 5,278 each for tardy notification or failure altogether to effect notification, as well – worse still – as negligence penalties for intent or gross culpability, in amounts of up to 100% of the outstanding taxes. (Whether or not the tax service’s practice in this respect is entirely EU proof remains to be seen. Then again the institution of proceedings to find out can be a costly affair.)

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5 Ways To Stop Internal Revenue Service Wage Garnishment

Venar Ayar

The IRS can be quite resourceful when it comes to collecting what they are owed. This allows them to even access and retrieve money from your salary to settle your tax debt.  When it gets to this point one can feel confused and even financially invaded but this is only a last resort of the IRS. This is after they have exhausted other approaches, which include sending several letters with no satisfactory response from the taxpayer.  Accessing your paycheck and retrieving an amount from your salary to settle your owed taxes is what IRS garnishment is all about.

This reclamation of one’s wages could extend to up to 70 percent but it can be avoided. The easiest way to avoid IRS garnishment is through paying your taxes diligently and on time. But what happens when you have already crossed that line? The following are five ways to stop IRS garnishment so that you are not left with barely anything to survive on due to tax debts.

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Register For Complimentary Webinar Today: ASC 740 Valuation Allowances

FREE WEBINAR

This complimentary webinar today is an in depth discussion of valuation allowances including evaluating positive and negative evidence, impacts on the tax rates and interim implications. This course includes the implications of the Tax Cuts And Jobs Act. The Instructor is nationally recognized ASC 740 expert Nick Frank.

We invite you to join us today. Webinar Starts within the hour!

Date: Friday, August 16, 2019

Time:12:00Noon PST/11:00AM CT/10:00AM CT/9:00AM PDT

Register Here For Complimentary ASC 740 Webinar

Internal Revenue Service Transfer Pricing Examination Process

IRS Transfer Pricing Examination Process

The Transfer Pricing Examination Process (TPEP) provides a guide to best practices and processes to assist with the planning, execution, and resolution of transfer pricing examinations consistent with the Large Business & International (LB&I) Examination Process (LEP), Publication 5125. This guide will be shared with taxpayers at the start of a transfer pricing examination, so they understand the process and can work effectively with the examination team.

Transfer pricing examinations are factually intensive and require a thorough analysis of functions performed, assets employed, and risks assumed along with an accurate understanding of relevant financial information. They are resource intensive for both the IRS and taxpayers. To ensure resources are applied effectively, LB&I is
using data analytics to identify issues for examination that have the most significant risk for non-compliance. In addition, teams should continually assess the merits of issues during an examination.

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Meet Tax Professionals With Greater Opportunity For Success

Success

In the words of the famous baseball player Babe Ruth, “You just cannot beat the person who never gives up.” This is what you need to remember to succeed in the tax profession. Tax professionals who never give up and keep getting up to bat, create higher visibility and create more opportunities for success.

One of the many positive influences of the www.taxconnections.com platform is our ability to connect our members with people who want to hire tax professionals. Organizations enjoy the ease of finding a wide range of experienced tax professionals on our tax platform. Our visitors spend less time searching for tax expertise. We welcome the opportunity to introduce tax professionals with a wide range of tax expertise nationally and internationally to key decision-makers around the world. TaxConnections is an extraordinary marketplace of leading tax experts.

TaxConnections tax professional members receive higher visibility because we spend considerable time direct messaging executives in large, medium and small businesses worldwide to draw attention to our members expertise. Yes, TaxConnections actively promotes its members to high end business executives all over the world. Our goal is driving previous and new client opportunities to you; and our goal is building a higher level of trust in your tax expertise.

Join Us And We Will Position You In Front Of People Searching For Tax Expertise Worldwide.

 

Senior Tax Manager, International (San Jose, California)

Senior Tax Manager, International In San Jose, CA

TaxConnections has been retained to conduct a search for a Senior Tax Manager, International for a publicly listed company in the San Jose, CA area. Our client seeks a Senior Tax Manager who will report to the VP Tax and assist on a wide range of international tax responsibilities. Your willingness to expand your tax knowledge is key in this role. International experience with multinational operations in Asia and Germany very helpful.

Primary Responsibilities

This role requires an individual with the willingness to assist and take responsibility for a variety of interesting international tax projects as required or needed to include:

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Tax Director, Reporting And Compliance (San Diego, CA)

Tax Director Job

TaxConnections has been retained to conduct a search for a Tax Director for a publicly listed company in the San Diego, CA area. Our client seeks a tax executive to lead an experienced tax team for a company with significant international operations.

This role reports to the VP, Global Tax and is responsible for US GAAP world-wide tax accounting & reporting, including domestic income tax compliance and income tax audits. Technical GAAP and tax skills, strong communication skills, team development and stakeholder management will be integral to the role as the successful candidate will be expected to work with senior internal and external stakeholders, as well as develop and lead a team of tax professionals.

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Using IPA 2015 As A Model For OECD Market Intangible Consultation

William C Barrett

On February 13 the OECD issued a public consultation document requesting input on two pillars developed to address concerns about taxing the digital economy.(1) Pillar 1 deals with profit attributable to the jurisdiction of the customer or user (the market jurisdiction), while pillar 2 addresses base erosion and profit shifting.

Three options are proposed under pillar 1: the user participation proposal, the marketing intangibles proposal, and the significant economic presence proposal.(2)

In July 2015 then-House Ways and Means Committee members Richard E. Neal, D-Mass., and Charles W. Boustany Jr. released a discussion draft of the Innovation Promotion Act of 2015 (IPA 2015), designed to encourage the generation of intangible income in the United States.(3) A key component of the proposed legislation was to define intangible income to which a tax deduction would apply — so-called innovation box income and thus produce a lower effective tax rate on intangible income. IPA 2015 defined the profit attributable to non-marketing intangible income as the ratio of five-year cumulative research and development expenses to five-year cumulative total operating expenses.(4) The proposal reflected concepts similar to the BEPS action 5 definition of non-harmful tax incentive regimes for intellectual property.

This article tries to match the pillar 1 discussion with the guiding principles previously established under the OECD’s BEPS project. It introduces an expanded version of IPA 2015 as a potential way to reach consensus on the allocation of marketing income under pillar 1 and to address concerns that some local tax laws may constitute export subsidies under the WTO rules.

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Delaware, Florida, Georgia, Hawaii Sales And Use Tax (United States Series #4)

Aaron Giles Sales And Use Tax 3

Delaware Sales And Use Tax

The State of Delaware is one of the five States In the in the United States that does not have a Sales And Use Tax.

Florida Sales And Use Tax

The state of Florida levies a 6% state sales tax rate on the retail sale, lease or rental of most goods. Counties impose their own additional surtaxes. The range of sales tax rates charged within the state of Florida is between 6% and 7.5%. Florida’s county surtax rates are capped on purchases over $5,000, which is different from other states. For example, if you purchased a motor vehicle with the purchase price of $20,000 in a county with a 1% surtax rate, 7% tax would be due on the first $5,000 of the purchase price and 6% tax would be due on the remaining $15,000 of the purchase price.

Use tax is due on all purchases brought into the state of Florida, unless specifically exempted. Use tax is due at the same rates as sales tax. Returns are to be filed on or before the 20th day of the month following the month in which the purchases were made. For example, purchases made in the month of July should be reported to the state of Florida on or before August 20th.

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