Tag Archive for tax connections

Moore Together: Due Diligence For M&A Transactions

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

Written by | Posted in Due Diligence

Tax Manager – Private Client Services (Silicon Valley, CA)

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

Written by | Posted in Tax Jobs

Entity Classifications Under The New Tax Act

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

Written by | Posted in 2018 Tax Law

Pre Immigration Income Tax Planning

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.

Have a question? Contact Richard Lehman. Your comments are always welcome!

Written by | Posted in Tax Planning • TaxConnections

New Tax Bill Affects Companies Across Industrial Products Sector – What You Need To Know

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

Written by | Posted in 2017 Tax Bill

Correcting Tax Mistakes After Fairmont and Jean Coutu

I was very glad to be a panelist for the Canadian Tax Foundation’s conference on the Supreme Court of Canada’s decisions in Fairmont and Jean Coutu.

During the discussion the panelists were asked about the ways taxpayers may correct tax mistakes after these two decisions of the Supreme Court. Read More

Written by | Posted in Canada

Take Advantage Of Higher Tax Rates—Before It’s Too Late

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

Written by | Posted in 2017 Tax Bill • Tax Cuts and Jobs Act

Key Tax Deferral Tool For Art Sales On The Chopping Block In U.S. Legislation Proposals

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

Written by | Posted in Tax Proposals

IRS Bills, Penalties And Interest Charges

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

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The Clawback: Receiving A Proper Refund

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

Written by | Posted in Fraud • Tax Refund

UK Budget 2017: Intangible Fixed Assets – Related Party Step-Up Schemes

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

Written by | Posted in United Kingdom Tax

Informal Trust Contest Fails And Subsequent Lawsuit Time-Barred

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

Written by | Posted in Uniform Trust Code
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