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Archive for Kat Jennings

Corporate Tax Executives Exclusive – Costly Corporate Software Mistakes

Kat Jennings, CEO, Tax Blog, TaxConnections

You are invited to a private conference call on Friday, May 11, 2018 at 9:00AM PDT/10:00AM MT/11:00AM CT / 12:00NOON EST. This one of a kind conference call exposes an underworld of costly software mistakes that are affecting corporate tax departments worldwide.

Tax executives rarely know about the big mistakes made in purchases and implementation. I have asked these experts to share what really goes on. In order to get the real truth out we are providing anonymity to these folks and invite only those individuals currently employed in a corporate tax department. Read more

Tax Advisors – Enjoy TaxConnections Best Tax Jokes And Quotes E-Book!

TaxConnections annually updates the Best Tax Jokes And Quotes eBook and provides it to you on a complimentary basis. We enjoy the good humor tax professionals have and especially so this time of year.

Add a smile to your day with TaxConnections Best Jokes And Quotes eBook. Request your complimentary copy and we will send it on to you right away. You will also receive the winning Tax Advisor video a few days after you receive the eBook.

When your experience with TaxConnections is a happy one, we know you will have a much more to offer the opportunities that come to you through TaxConnections.

Request your complimentary copy Best Tax Jokes And Quotes eBook.

 

Corporate Tax Executives – Face Tax Software Mistakes Few Are Prepared For

Kat Jennings, TaxConnections

Over the past few days, many calls and emails regarding this series of posts have been received regarding corporate tax executives. One individual called to remind us the expertise required today that was not required thirty years ago when they started in the  tax profession. In particular, we discussed tax executives with little if any knowledge of software. Tax Executives with little software expertise are being hoodwinked by people selling them tax software services they do not need. Tax management is faced with  a technology integration nightmare that few know how to deal with today. Tax management simply wants the problem to go away so they call in a consultant to fix it.

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Corporate Tax Executives – Why The War For Tax Executive Talent Has Heated Up! (Part II)

Corporations searching for tax executives are about to experience an awakening in securing qualified, highly technical corporate tax talent. The best way to describe this awakening is sharing greatly similar discussions with several Fortune 500 companies recently. Each of them admitted they were seeing very few qualified tax professionals for the roles they had open. They even admitted they were seeing only one or two qualified candidates for each opening. During this post, I will peel back the veil of what is really happening behind the scenes in securing corporate tax executive talent these days.

There are many obstacles to your success in attracting qualified corporate tax expertise than ever before; you will benefit knowing what these challenges are so you can address them.

Here are the reasons companies face challenges hiring corporate tax executives today.

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Corporate Tax Executives – Why The War For Tax Executive Talent Has Heated Up! (Part I)

This article is written to help tax executives understand what is happening in the market now. It is also written to help CFOs and VPs HR understand what they can do to support their tax organization. Believe it, your tax organization will need a lot more support than you may have given them in the past.  Tax reform has just delivered a big package of surprises no one is really prepared for yet. The tax organizations staffed to study these changes will do far better strategically and financially so now is the time to start putting together a plan of action.

As an example, allow me to share what one of my early career clients did regarding tax planning. During the last major tax reform under President Reagan, an emerging company in Silicon Valley called me to help them find a tax lawyer who would go through the new 1986 Transfer Pricing Tax Legislation , the White Paper and figure out what was in there. They retained me to find a strong researcher and strategic planner to go through the government’s position on newly issued transfer pricing regulations. They wanted to figure out the new rules and how to come up with a strategic long term tax plan to grow their business.  Want to know who this company is?  This company now has annual revenue of 234Billion and is called Apple Computer!

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Tax Treaties United States Has With Other Countries

Foreign countries across the world have intricate tax treaties with the United States, which include topics such as exchanging tax information with tax authorities. In order for these tax treaties to come to fruition, they must first pass through the Executive and Legislative Branches of the U.S. Government for approval.

The Secretary of the Treasury, part of the Executive Branch and appointed by the President, has the responsibility for negotiating federal income tax treaties with foreign countries. When negotiations are completed with a foreign country, the Treasury Secretary submits the negotiated treaty to the Senate Foreign Relations Committee for the advice and consent of the Senate.

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TaxConnections List of Global Tax Authority Country Representatives With Email Addresses And Numbers – Complimentary Research

We know many of you will appreciate this list of Global Tax Authority Country Representatives along with their names and contact information. This valuable resource will make it easy for you to contact the country tax authorities directly with questions you have in setting up business operations in other countries. Having direct contact information with global tax authority representatives will save you a lot of time!

https://www.taxconnections.com/global-tax-authority-country-representatives

 

 

Tax Advisors Reference Guide On President Trump’s Executive Orders – Must Read Before May 14, 2018

Our team did the research so you would have access to an interesting set of links to the CFRs (Code of Federal Regulations). Look for yourself and decide if the removal of these tax regulations will affect you, your clients or your corporate tax organization.

Do not set yourself up for ” we shall see what is in there later”. Get a copy of this complimentary research report and make decisions in the smartest way possible regarding their impact. Know what they are and make public comment before May 14, 2018.

 

Request Complimentary Reference Guide Today!

S Corporation Compensation And Medical Insurance Issues

When computing compensation for employees and shareholders, S corporations may run into a variety of issues. The information below may help to clarify some of these concerns.

 

Reasonable Compensation

S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. The amount of reasonable compensation will never exceed the amount received by the shareholder either directly or indirectly.

The instructions to the Form 1120S, U.S. Income Tax Return for an S Corporation, state “Distributions and other payments by an S corporation to a corporate officer must be treated as wages to the extent the amounts are reasonable compensation for services rendered to the corporation.”

Several court cases support the authority of the IRS to reclassify other forms of payments to a shareholder-employee as a wage expense which are subject to employment taxes.

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U.S. Tax Cut And Jobs Act – Accounting For The Impacts Of The Act Will Increase Risk Of Financial Statement Errors

On December 22, 2017, President Trump signed tax legislation known as the Tax Cuts and Jobs Act (the Act). The Act is the most dramatic change in corporate tax rules in over 30 years.

Accounting for the impacts of the Act will increase the risk of financial statement errors. Whether issues arise from complexity in the new laws or from the application of ASC 740 to your tax technical conclusions, you need to simplify your ASC 740 process in order to be successful, and mitigate that risk.

CHANGE IS COMING

Your spreadsheet process may have been “good enough” to get through previous financial statement audits. But with all the modifications that are going to be required as a result of tax reform, the risk of calculation errors increases significantly.

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Tax Professionals – Proposed Presidential Executive Orders Researched For You With Our Compliments

Tax Advisors- you would never know what was hidden in these regulations unless you conduct extensive research which we did for you! We will give you our twenty-five hours of research with links to the Code of Federal Regulations to our members.

Based on a preliminary review, these proposals could be very far reaching and effect a wide range of your clients. These proposals deserve your immediate attention and review!

You should study this very important information to make comments or request a public hearing on areas that may impact you and your clients. If you want to comment or request a public hearing you must do so before May 14, 2018.

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Tax Advisor’s Guide On President Trump’s Executive Orders: URGENT! RESPOND BEFORE MAY 14, 2018

Tax Advisors would never know what was hidden in these regulations unless they conduct extensive research which we did for our members. We provide tax advisors our hours of research with links to the Code of Federal Regulations.

Based on a preliminary review, these proposals could be very far reaching and effect a wide range of our member’s clients. These proposals deserve your immediate attention and review.  You should study this very important information to make comments or request a public hearing on areas that may impact your clients. If you want to comment or request a public hearing you must do so before May 14, 2018.

Request your complimentary copy at this link: https://www.taxconnections.com/tax-advisors-reference-guide-on-president-trumps-executive-orders

 

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