TaxConnections


 

Tax Manager/Partnerships (Pleasanton, CA)

Kat Jennings, TaxConnections CEO and internationally recognized tax search consultant, has worked with many firms over the years. One of her clients is an East Bay Area boutique tax practice with former Big Four Tax Partners and has grown to around a 50-person tax practice. They offer a culture of support, respect, flexibility, and opportunity that is refreshing to experience these days.

The Tax Manager role requires partnership, S corp and individual tax consulting experience and the skills to effectively diagnose clients’ needs in order to develop and implement solutions. Primary responsibilities involve providing tax compliance, tax accounting, tax research and planning on partnerships, s corps and individual tax return for sophisticated clientele. Read More

Senior Tax Manager-Sales, Use And Property (New Jersey)

Responsibilities include the timely and accurate completion of filings and various tasks related to the Company’s corporate sales, use, property and miscellaneous tax compliance. The Tax Manager will interact with the in-house tax department, IT, accounting and finance teams, co-sourcing service providers, and government tax agencies in meeting tax compliance and tax audit requirements. Responsibilities include the following:

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Non-Qualified Deferred Compensation: When Can You Make Distributions?

Hale Stewart, Tax Advisor

Section 409A contains a very strict set of times when a NQDC plan can make distributions. They are:

(i) separation from service as determined by the Secretary (except as provided in subparagraph (B)(i)),
(ii) the date the participant becomes disabled (within the meaning of subparagraph (C)),
(iii) death,
(iv) a specified time (or pursuant to a fixed schedule) specified under the plan at the date of the deferral of such compensation,
(v) to the extent provided by the Secretary, a change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation, or (vi) the occurrence of an unforeseeable emergency. Death (iii) and a specified time (iv) are not legally debatable; they simply are. Read More

Multi-State Tax Commission Amnesty Program Update

Monika Miles, Tax Advisor

Across the U.S., amnesty seems to be a popular topic these days. The Multistate Tax Commission’s (MTC) special amnesty program for marketplace retailers recently ended. And a few other states have recently announced their own amnesty programs so that they can benefit from potential increased compliance as well. Connecticut (CT), Ohio (OH) and Rhode Island (RI) are the latest states to roll out amnesty programs of their own. And we expect others to follow. The states administer amnesty programs because they want to induce companies to become compliant by waiving, or limiting penalties and interest for prior unpaid taxes. Read More

Canada Revenue Agency – Important Dates for 2018

Grant Gilmour, Tax Advisor

Canada Revenue Agency (CRA) has a number of dates and deadlines of importance to corporations. Failure to comply with these deadlines may raise a red flag with CRA, which in turn may trigger an audit.

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How To File Taxes With A 1099 Tax Form

Mile IQ, Tax Advisor

If you’re a 1099 worker, your tax life is very different than that of employees. It’s vitally important to understand how to file your taxes when you’re a 1099 worker, or you can end up in big trouble with the IRS.

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Transferee Liability for Unpaid Corporate Taxes of Minority Shareholders

Ronald Marini, Tax Advisor

The Eleventh Circuit affirmed the Tax Court’s determination that petitioner was liable as a transferee under 26 U.S.C. 6901 for his former employer’s unpaid taxes, in Kardash v. Commissioner of IRS, US Court of Appeals for the Eleventh Circuit, Docket: 16-14254.
The Tax Court had previously found two minority shareholders liable to return several million of dividends they received from a corporation when the corporation failed to pay federal income taxes at the direction of majority shareholders, which majority shareholders also drove the company into insolvency by siphoning off corporate funds.

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FTC Charges Academic Journal Publisher OMICS Group With Deceiving Researchers

William Byrnes, Tax Advisor

The Federal Trade Commission has charged the publisher of hundreds of purported online academic journals with deceiving academics and researchers about the nature of its publications and hiding publication fees ranging from hundreds to thousands of dollars.

The FTC’s complaint alleges that OMICS Group, Inc., along with two affiliated companies and their president and director, Srinubabu Gedela, claim that their journals follow rigorous peer-review practices and have editorial boards made up of prominent academics. In reality, many articles are published with little to no peer review and numerous individuals represented to be editors have not agreed to be affiliated with the journals.

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Petty Cash Management: A Good Practice System

Grant Gilmour, Tax Advisor

Petty cash is a float that gets replenished monthly and is a convenient way to reimburse staff for company purchases or to cover minor expenses. Petty cash is considered a current asset on the balance sheet.

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What You Need to Know About Deductions for Your Holiday Giving

Betty Williams, Tax Advisor

November kicks off the season of giving, and the donations you make to your favorite charities may also provide you some tax benefits. However, there are some guidelines you should keep in mind as you write those checks.

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FTC Halts the Deceptive Practices of Academic Journal Publishers

William Byrnes, Tax Advisor

Operation made false claims and hid publishing fees, FTC alleges.

A federal court has granted a preliminary injunction requested by the Federal Trade Commission, temporarily halting the deceptive practices of academic journal publishers charged by the agency with making false claims about their journals and academic conferences, and hiding their publishing fees, which were up to several thousand dollars.

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