By MarksNelson on November 21, 2017Selecting the correct legal and tax entity type is one of the most important building blocks for any business. When it comes to liability protection and optimizing tax outcomes, choosing the right entity classification can make a world of difference.
By MarksNelson on July 31, 2017After months of uncertainty, a controversial tax plan is dead. Last Thursday, Trump administration officials and top congressional lawmakers said in a joint statement the border-adjusted tax will no longer be part of the ongoing negotiations for tax legislation.
By MarksNelson on June 8, 2017The Trump administration plans to hold more than a dozen "listening" meetings over the next few months with business leaders on tax reform. The White House released its one-page plan back in April and hopes to have a more detailed plan for Congress later this summer. Meanwhile, one component remains front and center —the border adjustment, a proposal to change the ways goods and service are taxed depending on where they are manufactured and where they are consumed. Let’s take a closer look at what is being proposed and what effect it might have on U.S. companies.
By MarksNelson on November 3, 2015The merger and acquisition market is picking up along with the performance of the manufacturing sector. If you’re planning to buy or sell soon, you’ll need to negotiate more than just the selling price. This article discusses how deal structure can have a major impact on expected cash flow and exposure to potential liabilities after the dust settles.
By MarksNelson on October 27, 2015Manufacturers and distributors who export products should consider the use of an interest charge domestic international sales corporation (IC-DISC) to reduce their tax burden. This article answers some frequently asked questions about this strategy.
By Sara Stubler on June 17, 2015Since learning about the Bureau of Economic Analysis (BEA) BE-10 survey compliance requirement with an upcoming deadline of June 30 for all new filers, many have asked me “How was I supposed to know I needed to file?” I recall a story that someone shared regarding a professional in her twenties who was shocked to learn, several years into her career, that see needed to file Form 1040 annually with the IRS. She responded, “How was I supposed to know?” The need to file an individual tax return may be much more well-known but the BEA doesn’t seem to be doing any more advertising than the IRS on its filing requirements.
By Sara Stubler on June 2, 2015U.S taxpayers with foreign bank or investment accounts that total in excess of $10,000 at any time during the year are required to file FinCEN Form 114 electronically by June 30 each year for the previous calendar year.
By Sara Stubler on February 5, 2015The first full year of FATCA reporting began on January 1 with FATCA reporting deadlines beginning on March 31, 2015. Financial organizations are turning their attention to how to manage their reporting obligations. Complying with FATCA is becoming more expensive than initially expected, according to a recent survey. An increase of 11 percentage points in the number of institutions expecting higher expenses suggests that they are just now beginning to appreciate the complexity and burden of dealing with the law.
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