Moore Stephens North America is comprised of over 40 member firms that provide key services across a wide variety of industries and niches. This month’s “Moore Together” is a collaboration between Mike Thielman, audit partner with HCVT, and Eric Trumbull, tax principal with DMCL.
Business owners are constantly building one of two things: either a nest egg or a legacy. If they’re building a nest egg, they’re investing their time and efforts into a business that they can eventually sell and fund their retirement. If they’re building a legacy, they’re putting the people and processes in place, so they can transition out of their role and have a successor in place to carry on the work. Read More
Moss Adams is currently seeking a Tax Manager to join our firm. Tax Managers work with other members of our tax practice to develop and sustain excellent client relationships. They advise clients on a full spectrum of individual, partnership, corporate, and trust and estate tax services. Participation in the calculation and analysis of proprietary tax strategies for clients are among their responsibilities. We ensure that our tax personnel keep up to date on current tax practices and changes in tax law and have the ability to provide our clients with in depth industry knowledge. Read More
Welcome to 2018 and your new 2018 Tax Laws. If you are not aware, there is a new Tax Law that will affect all of you in our Professional care this year.
We know, understand and respect that each of your company’s DNA is unique. There are no simple answers to complex questions. Lately, the U.S. business media is abuzz with ideas and recommendations relative to the “best” corporate structure. While these are generic and generalized suggestions, some might have merit; there is little value without considering all the factors surrounding a business including, but not limited to: Read More
There are several techniques to insure that accumulated wealth and income earned prior to becoming a United States taxpayer can be protected from United States taxes. This requires planning in advance by nonresident alien individuals who will become United States taxpayers.
After 31 years, Congress has passed major tax reform legislation and sent it to the President for his signature. The bill is the most significant tax reform in a generation and is intended to provide an additional catalyst to grow the economy and stimulate job growth and higher wages. For industrial products organizations in the manufacturing, aerospace and defense, chemical, and automotive sectors, the new provisions are significant and will likely impact their businesses for years to come. Read More
On December 2, 2017, the Senate passed the Tax Cuts and Jobs Act, a sweeping tax reform bill that seeks to reduce tax rates for corporations and individuals following a strategy outlined in our previous Alert. A similar tax bill was passed by the House of Representatives on November 16, 2017. The White House and Congressional leadership plan to have a unified tax reform bill ready for the president to sign into law before the Christmas holiday. Read More
What will Trump’s tax reforms mean for the art market?
The tax legislation proposals currently under consideration by the United States Congress contains a number of concepts that would affect the art market. One would eliminate the availability for art sales of so-called ‘1031’, or ‘like-kind’, exchanges, a provision that can defer payment of tax when property is sold and reinvested in similar property. While it is difficult to quantify the effect that passage would have, it would undoubtedly encourage more caution among investors and have a downward effect on the volume of art sale transactions. Read More
Generally, April 15th is the deadline for most people to file their individual income tax returns and pay any tax due. During its initial processing, the IRS checks for mathematical accuracy on your tax return. When processing is complete, if you owe any tax, penalties or interest, you’ll receive a bill which you’re responsible for paying. Interest and penalties can add up quickly if you don’t pay the full amount right away. Read More
Very often there may be a Ponzi Scheme financial theft, in which certain taxpayers have profited since they made early investments and were paid unusual profits that did not exist. Often taxpayers in Ponzi Schemes that have benefited from the financial loss of others are called upon by a trustee to forfeit the profits made in the Ponzi Scheme. Read More
The realisation of intangible fixed assets (IFAs), contained in Ch 4, Part 8, CTA 2009, broadly expects the profit and loss on the disposal of the IFA to be computed by reference to the proceeds of realisation for accounting purposes. In an arm’s length cash transaction this would normally be the amount received subject to an arm’s length or market value adjustment.
For non-cash transactions involving the transfer of IFAs between related parties, the amount recognised on disposal should be equivalent to the cash that would be received in a market value transaction. Read More
The South Dakota Supreme Court recently decided a unique case which may be persuasive to jurists in many other states that have adopted the Uniform Trust Code, particularly as it relates to literal compliance with shortened time frames for beneficiaries to take action under the Code. In doing so, the Court ruled that an informal objection to a revocable trust did not constitute an effective contest of the trust’s validity under their trust law, because it was not a timely filed suit. Read More
Understand the rules now to avoid a tax surprise later! There is large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. […]