Hong Kong Special Administrative Region “Patent Box” Overview of Tax Preferential Measures
The draft legislation on preferential tax measures for the “Patent Box” of the Hong Kong...
Reflections on the Fujian High Court on the case of Hong Kong companies transferring equity of mainland companies to enjoy agreed treatment
This case is currently one of the few public judicial judgments in China on the...
Rethinking international penalty administration
Maintaining integrity in tax administration often requires the use of penalties to encourage voluntary compliance....
Defining software development costs
The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, eliminated the...
Aggregation rules affecting foreign-owned companies
Multinational businesses headquartered overseas customarily conduct operations in the United States via local subsidiaries. These...
Filing Your Startup’s Tax Return for the First Time
Filing a return for a startup for the first time can be overwhelming considering everything...
State Sales Tax Compliance for Startups
Startups face a number of challenges from hiring qualified employees, to research and development, to...
Do Startups Need Audited Financial Statements?
By law private companies are not required to undergo an annual audit of financial statements...
Redetermining foreign taxes in a post-TCJA world
The foreign tax redetermination (FTR) rules under Sec. 905(c) apply to taxpayers who accrue foreign...
Managing tax audits using sampling techniques
Sampling is a tool that is generally used whenever there is a list of records,...
Taxation of employees’ use of corporate apartments
Taxable compensation from use of an employer-provided corporate apartment Absent an applicable exclusion, the fair...
Tax fraud and bankruptcy dischargeability
The federal laws governing bankruptcy and taxation often intersect, although their makeup, effectiveness, and interpretation...Archive
May 26, 2020
Tax professionals can complete the filing of returns online by using e-Services made possible by the IRS. The primary services... Read more
May 25, 2020
FASB voted to delay the effective dates for its standards on accounting for leases, credit losses, hedge accounting, and long-term... Read more
May 25, 2020
On September 12, 2019, FASB revised its balance sheet debt classification in a Proposed Accounting Standards Update, which adopted an... Read more
May 25, 2020
The outcome of South Dakota v. Wayfair, Inc. (2018) affected each state’s nature of sales tax collection for remote sellers... Read more
May 21, 2020
Out with the old and in with the new. Recently, Financial Accounting Standards Board ASC Topic 842, Leases or ASU... Read more
May 21, 2020
For some taxpayers, the time may come when the IRS audits their income tax return. There are two solutions taxpayers... Read more
May 20, 2020
As stated in IRS Restructuring and Reform Act of 1998, P.L. 105-206 Sec. 6751(b)(1), taxpayers can dissolve penalties by submitting... Read more
May 20, 2020
Overview FASB Accounting Standards Codification (ASC) Subtopic 740-10 No. 48 provides accounting and disclosure guidance on the recognition of taxes... Read more
May 20, 2020
Part 1 When the U.S. Supreme Court revised the outcomes of South Dakota v. Wayfair, Inc. (2018) and Quill Corp.... Read more
May 20, 2020
Cybercrimes occur often, and the risks are damaging to a company’s reputation, development, and client and investor relations. C-level leaders... Read more