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Motion picture and television production tax incentives are available at the federal level, in most states, and on a global level in nearly 100 countries. They should certainly be incorporated into the tax planning process for movie and TV studios to lower their costs of production. The three primary phases of qualified filmmaking production include […]
The U.S. Supreme Court recently issued an opinion in South Dakota v. Wayfair, Inc., overturning its earlier precedents in National Bellas Hess and Quill, and eradicating the decades-old “physical presence” requirement for sales and use tax nexus. In this webinar, we will explore the impact of this landmark Supreme Court decision on business conducted within […]
U.K. grocer J Sainsbury Plc named Martin Scicluna as its chairman, tapping a former senior executive at accounting firm Deloitte as it prepares to add Walmart Inc.’s Asda unit in a 7.3 billion-pound ($9.7 billion) deal. Scicluna, who is also chairman of RSA Insurance Plc, will replace David Tyler in March or soon after, following […]
The National Association of Enrolled Agents has written a letter to the Internal Revenue Service strongly criticizing the draft version of the new Form W-4, the Employee’s Withholding Allowance Certificate, saying it raises privacy concerns and creates a “substantial risk of underwithholding.” In a letter last week to IRS acting commissioner David Kautter, the NAEA […]
The American Institute of CPAs’ Auditing Standards Board is proposing revisions in the standards for attestation engagements. The AICPA ASB exposed for public comment Wednesday a proposed Statement on Standards for Attestation Engagements, Revisions to Statement on Standards for Attestation Engagements No. 18: Clarification and Recodification. It would supersede AT-C section 105, Concepts Common to […]
Tungsten Network, which provides supply chain automation technology, has debuted its e-billing product for accounts receivable (AR) departments. Tungsten Network e-billing is designed to allow AR departments to send 100 percent of their outbound invoices through a single service provider, and have them delivered in the preferred format of the recipient, regardless of whether their […]
This article covers the tax rules that apply when taxpayers dispose of (by selling or exchanging) vacation homes, along with some planning moves. Part 1 is available here. Tax-free sale of vacation home In many cases, the profitable sale of a vacation home will result in a tax-favored capital gain, although the gain will be […]
Accounting, like many professions, is experiencing a shrinking talent pool as boomers retire and younger generations are opting for other careers. I recently received a call from a public accounting firm whose client was struggling to find the right candidate for a corporate accounting position. They needed someone who had the experience necessary to help […]
The Internal Revenue Service spent nearly $380 million to implement the Foreign Account Tax Compliance Act, but so far isn’t prepared to enforce the law, according to a new report. The report, from the Treasury Inspector General for Tax Administration, examined the IRS’s efforts to implement FATCA, which was included as part of the HIRE […]
Being available is essential for maintaining and strengthening relationships with clients…and everyone else you interact with professionally. Yet I know many colleagues who do not understand this and when I ask them why not, they always have an excuse. Either it is summer and too hot, or too many people are on vacations, or they […]
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