Original air date: Oct. 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Feb. 8, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 4, 2018
Recording posted at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, from individuals to businesses to trusts and estates, along with not-for-profit organizations as well. We will explore all of the key provisions of the tax reform bill across these sectors, and will offer insight about how the new law differs from prior law.
Original air date: Feb. 9, 2017
Rebroadcast and recording information at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 24, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on not-for-profit organizations starting in 2018. From excise taxes to new unrelated business income considerations, organizations will need to take a close look at how tax reform changes affect their financial planning.
In our webinar, we will focus on the manner in which not-for-profit organizations are impacted by the new law, and will offer insight about how the not-for-profit sector should respond to the new provisions.
Original air date: March 8, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country's tax laws. Manufacturers will benefit from lower tax rates and more generous depreciation under the new law, but other nuances require further analysis.
We will focus on the changes to tax rates and depreciation, as well as new limitations on interest expense deductions, accounting methods for inventory and long-term contracts, and the new qualified business income deduction.
Original air date: Feb. 8, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 4, 2018
Recording posted at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, from individuals to businesses to trusts and estates, along with not-for-profit organizations as well. We will explore all of the key provisions of the tax reform bill across these sectors, and will offer insight about how the new law differs from prior law.
Original air date: Feb. 9, 2017
Rebroadcast and recording information at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 24, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on not-for-profit organizations starting in 2018. From excise taxes to new unrelated business income considerations, organizations will need to take a close look at how tax reform changes affect their financial planning.
In our webinar, we will focus on the manner in which not-for-profit organizations are impacted by the new law, and will offer insight about how the not-for-profit sector should respond to the new provisions.
Original air date: March 8, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country's tax laws. Manufacturers will benefit from lower tax rates and more generous depreciation under the new law, but other nuances require further analysis.
We will focus on the changes to tax rates and depreciation, as well as new limitations on interest expense deductions, accounting methods for inventory and long-term contracts, and the new qualified business income deduction.
An overview of current tax reform proposals and potential implications. Overview of business implications with Chairman Camp's 2014 discussion draft, Senator Hatch's 2014 report on tax reform, corporate integration, House tax reform task force, and The Trump Plan.
Handout -revenue recognition webcast 5-27-15Jin Young Park
Revenue is often considered the single most important financial statement measure. However, it can be one of the most subjective amounts on a financial statement as there is no single authoritative accounting pronouncement on how to recognize revenue.
In order to transition effectively to the sweeping new revenue recognition standard (ASU 2014-09), you need a sufficient command of the nuances embedded in our present accounting guidance on revenue recognition. This webinar will address these issues and more.
Original air date: March 27, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Business Law Training | State and Local Taxes: Key Developments That Will Aff...Quarles & Brady
Most businesses pay more state and local taxes than federal. This program will update you on some of the key developments in the state and local tax world that will affect your companies now and in the future. Topics include how changes in federal law will affect state taxes, the ongoing debacle over sales tax collection requirements, an explanation of how states are fundamentally changing their corporate taxes, and much more.
Post-Election Estate Planning and Tax Mitigation StrategiesMelinda Merk
The outcome of the November 2020 election will likely prompt wealthy individuals and families to identify, assess and mitigate potential legal and tax risks when it comes to their personal tax and estate planning. This webinar will assist wealthy clients and their advisors in assessing potential tax law changes and discuss mitigation strategies, including the possibility of retroactive tax legislation to January 1, 2021. Presented by Melinda Merk, JD, LLM, CFP®, AEP® of McCandlish Lillard, PC and Marnette Myers, CPA, JD of Prager Metis CPAs.
Income Tax Tips for PFMs Working with Military Familiesmilfamln
This is a free webinar hosted by the Personal Finance concentration area of the Military Families Learning Network.
This 90-minute webinar will address updates to tax changes that affect military families and service members. Barbara O’Neill will discuss tax basics and common tax errors during the first half hour of this interactive webinar. In the second half Taylor Spangler of University of Florida Extension will talk about the specific tax issues of concern to military families, as well as provide military specific resources for tax help and support. Carol Kando-Pineda of the Federal Trade Commission will close the session with an update on the resources available through identitytheft.gov. Find more info: https://learn.extension.org/events/3191
C-Suite Snacks Webinar Series: In The Weeds- The Cannabis Industry...What's I...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
When in your lifetime have you witnessed the birth of an industry? As this industry transitions from illegality into a state-legal/federally illegal business, it faces business challenges like no other. Between difficulties in obtaining basic banking services, being taxed on gross margin rather than net income, and complex state and local regulatory environments, business owners and entrepreneurs face enormous hurdles.
During this webinar session, we covered the business challenges in the cannabis industry. Key takeaways included:
• Overview and business challenges faces
• Taxation of the industry
• Cash flow and fraud risks
Air date: Aug. 15, 2018
Recording at http://www.mhmcpa.com
The 20% QBI deduction under Section 199A affects all businesses other than C corporations. The pervasive importance of this complicated new deduction has attracted extraordinary interest in IRS regulations to help resolve many ambiguities in the law. Join us as we unpack these new and anxiously awaited regulations.
This workshop helps attendees understand the income taxation of trusts and estates, identify sources of taxable income, calculate distributable net income, and apply the Alternative Minimum Tax.
Presenter: David Spence, Jennifer Han, Allison Kroeker, and Li (Fiona) Xu of Royse Law Firm
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
Original air date: Aug. 14, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 30, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on the real estate sector in 2018, including tax considerations for pass-through entities, interest expense limitations and like-kind exchange limitations.
In our webinar, we will focus on the manner in which real estate businesses are impacted by the new law and offer insight about how real estate businesses and investors should respond to the new provisions.
An overview of current tax reform proposals and potential implications. Overview of business implications with Chairman Camp's 2014 discussion draft, Senator Hatch's 2014 report on tax reform, corporate integration, House tax reform task force, and The Trump Plan.
Handout -revenue recognition webcast 5-27-15Jin Young Park
Revenue is often considered the single most important financial statement measure. However, it can be one of the most subjective amounts on a financial statement as there is no single authoritative accounting pronouncement on how to recognize revenue.
In order to transition effectively to the sweeping new revenue recognition standard (ASU 2014-09), you need a sufficient command of the nuances embedded in our present accounting guidance on revenue recognition. This webinar will address these issues and more.
Original air date: March 27, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Business Law Training | State and Local Taxes: Key Developments That Will Aff...Quarles & Brady
Most businesses pay more state and local taxes than federal. This program will update you on some of the key developments in the state and local tax world that will affect your companies now and in the future. Topics include how changes in federal law will affect state taxes, the ongoing debacle over sales tax collection requirements, an explanation of how states are fundamentally changing their corporate taxes, and much more.
Post-Election Estate Planning and Tax Mitigation StrategiesMelinda Merk
The outcome of the November 2020 election will likely prompt wealthy individuals and families to identify, assess and mitigate potential legal and tax risks when it comes to their personal tax and estate planning. This webinar will assist wealthy clients and their advisors in assessing potential tax law changes and discuss mitigation strategies, including the possibility of retroactive tax legislation to January 1, 2021. Presented by Melinda Merk, JD, LLM, CFP®, AEP® of McCandlish Lillard, PC and Marnette Myers, CPA, JD of Prager Metis CPAs.
Income Tax Tips for PFMs Working with Military Familiesmilfamln
This is a free webinar hosted by the Personal Finance concentration area of the Military Families Learning Network.
This 90-minute webinar will address updates to tax changes that affect military families and service members. Barbara O’Neill will discuss tax basics and common tax errors during the first half hour of this interactive webinar. In the second half Taylor Spangler of University of Florida Extension will talk about the specific tax issues of concern to military families, as well as provide military specific resources for tax help and support. Carol Kando-Pineda of the Federal Trade Commission will close the session with an update on the resources available through identitytheft.gov. Find more info: https://learn.extension.org/events/3191
C-Suite Snacks Webinar Series: In The Weeds- The Cannabis Industry...What's I...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
When in your lifetime have you witnessed the birth of an industry? As this industry transitions from illegality into a state-legal/federally illegal business, it faces business challenges like no other. Between difficulties in obtaining basic banking services, being taxed on gross margin rather than net income, and complex state and local regulatory environments, business owners and entrepreneurs face enormous hurdles.
During this webinar session, we covered the business challenges in the cannabis industry. Key takeaways included:
• Overview and business challenges faces
• Taxation of the industry
• Cash flow and fraud risks
Air date: Aug. 15, 2018
Recording at http://www.mhmcpa.com
The 20% QBI deduction under Section 199A affects all businesses other than C corporations. The pervasive importance of this complicated new deduction has attracted extraordinary interest in IRS regulations to help resolve many ambiguities in the law. Join us as we unpack these new and anxiously awaited regulations.
This workshop helps attendees understand the income taxation of trusts and estates, identify sources of taxable income, calculate distributable net income, and apply the Alternative Minimum Tax.
Presenter: David Spence, Jennifer Han, Allison Kroeker, and Li (Fiona) Xu of Royse Law Firm
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
Original air date: Aug. 14, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Jan. 30, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on the real estate sector in 2018, including tax considerations for pass-through entities, interest expense limitations and like-kind exchange limitations.
In our webinar, we will focus on the manner in which real estate businesses are impacted by the new law and offer insight about how real estate businesses and investors should respond to the new provisions.
Original air date: July 27, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: Feb. 22, 2018
Recording at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, including many provisions that will significantly impact partnerships, S corporations, and other closely held businesses.
We will focus on the manner in which closely held businesses are impacted by the new law, and will offer insight about how closely held businesses and investors should respond to the new provisions.
Original air date: May 15, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: June 6, 2018
Recording available at http://www.mhmcpa.com
With so many players involved, the international tax landscape is ever-changing. Staying up-to-date on recent developments, trends and areas of regulatory scrutiny are critical to your planning.
Our webinar will recap hot topics, technical matters and other current events that have a bearing on international tax planning and compliance. We will highlight emerging best practices and other tips to help you navigate through these areas.
Original air date: Feb. 1, 2018
Recording available at http://www.mhmcpa.com
Tax reform passed at the end of 2017 should be incorporated in December 31, 2017 financial statements. Several of the provisions in the "Tax Cuts and Jobs Act" directly impact the preparation of the financial statements this year and we will discuss the most significant items that should be considered when preparing the financial statements.
Original air date: Jan. 19, 2017
Rebroadcast and recording info available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Feb. 21, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer as well as activities such has mergers and acquisitions (M&A). Businesses and their owners have new and unique considerations to take into account as they optimize M&A decisions under these provisions.
We will focus on proper entity selection, the new net operating loss provisions, the new limitations on deductibility of interest and assessing the impact of the temporary full capital expensing provisions.
Original air date: Jan. 25, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer. International taxation received significant changes, with provisions related to participation exemption, mandatory repatriation tax, U.S. base erosion, global intangible low-taxed income, foreign-derived intangible income, foreign tax credits, Subpart F, and sale of partnership interests.
We will focus on the manner in which international businesses are impacted by the new law, and will offer insight about how international businesses and investors should respond to the new provisions.
Original air date: July 20, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Minimizing taxes can help provide for capital that can be used to fund growth of your business. We will discuss practical strategies for saving your company real dollars that include:
Tax Savings opportunities for US manufacturers
R&D Tax credit opportunities you may not have considered
Maximizing the deduction for the acquisition of capital assets
Determining if your business should be operating in an S Corporation, C Corporation or Partnership
Content for this course is intended for finance professionals at all levels.
Original air date: Dec. 6, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
The research and experimentation credit recently was enhanced to give small businesses greater access to its benefits. Eligible small businesses can now elect to offset their liability for AMT or payroll tax with research credits, where many payroll tax returns filed in the fourth quarter of 2017 will first see these credit claims.
As we explore many of the activities that qualify small businesses to the research credit, we will also review the eligibility criteria for the payroll tax offset, as well as the manner in which the payroll tax offset works for employers using PEOs to lease employees.
Original air date: June 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: July 2, 2018
Recording at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Nov. 8, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Please join us for this webcast in which we will identify and assess effective individual year-end strategies including interactions with trusts and estates, S corporations and other pass-through entities for optimal tax minimization for 2017 and beyond.
We will cover techniques for managing overall income tax liabilities, the timing of income and deductions, and the latest regulatory developments applicable to individual taxation.
Original air date: May 17, 2018
Recording at http://www.mhmcpa.com
Service businesses that transact business across state lines and nationally are subject to state income taxes in many jurisdictions. The tax laws for each state are different, including the manner in which states determine the location of sales for apportionment purposes. Service businesses must contend with varying rules to determine the state to which sales revenues should be assigned.
This webinar will examine the common approaches utilized by state taxing jurisdictions to source service revenue in order to provide an overview of the principles involved.
Original air date: Oct. 2, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Dec. 21, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: April 13, 2017
Slides and recording info on http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Air date: Oct. 15, 2018
Recording available at http://www.mhmcpa.com
Lease accounting underwent a major revision with the issuance of the Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842). The update made adjustments to the recording of leases and this course will specifically discuss the changes in lessor accounting. We'll also discuss where lessees may struggle with implementation and where they may look for help from lessors in these lease contracts.
CBIZ and MHM are pleased to invite you to our 2018 Executive Education Series™ online training courses. This webinar-based training is designed to educate and inform our clients and the public on complex accounting and tax subject matters and current events. Continuing Professional Education (CPE) credit will be offered.
Online registration and more details about these free courses can be found at cbiz.com or mhmcpa.com.
Air date: Oct. 2, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Air date: Oct. 1, 2018
Recording available at http://www.mhmcpa.com
Public companies are adopting the new revenue recognition standard under ASC Topic 606 for 2018, and private companies won’t be far behind. Our webinar will cover lessons learned from early adopters and steps your organization can take now to make the necessary changes and process updates.
Air date: Sept. 28, 2018
Recording available at http://www.mhmcpa.com
New revenue recognition standards under ASC Topic 606 and changes to ASC Topic 958 are taking effect, and not-for-profit organizations should be getting ready. Tax-exempt entities will need to consider transactions other than contributions and investment returns in order to correctly record revenue under the new accounting criteria. Not-for-profits must also consider the guidance that was recently released clarifying how the new standards relate to contributions made and received.
In our webinar, we will discuss how not-for-profit organizations can prepare for the changes, which are effective for years ended December 31, 2018 for conduit debt issuers and for years ended December 31, 2019 for others.
Air date: Sept. 25, 2018
Recording at http://www.mhmcpa.com
Lease accounting underwent a major revision with the issuance of the Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842). The update made adjustments to lessee and lessor accounting. This course will discuss the changes and the challenges in implementation as well as the frequently asked questions of professionals concerning the changes.
The FASB recently issued guidance to make transitioning to and applying the new leasing standard easier. Accounting Standards Update 2018-11, Leases (Topic 842) Targeted Improvements (ASU 2018-11) addresses questions related to the initial adoption of the standard in comparative periods, and for lessor accounting, separating lease and nonlease components of a contract. Changes to the adoption requirements will be particularly important for SEC filers as they prepare their third and fourth quarter filings.
Sometimes a revision to an accounting standard will have an impact that takes a while to become apparent to the financial reporting community. Accounting standard changes tend to affect financial statements, and so changes to the financial statements may affect the business operations that rely on them, such as lending arrangements.
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions received and Contributions Made, which provides accounting guidance around contributions of cash and other assets received and made by not-for-profit organizations and business enterprises.
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07 Compensation—Stock Compensation (Topic 718) as part of its Simplification Initiative to reduce complexity when accounting for share-based payments to non-employees.
The areas for simplification in ASU 2018-07 involve several aspects of the accounting for non-employee share-based payment transactions resulting from expanding the scope of Accounting Standards Codification (ASC) Topic 718, Compensation—Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees and aligning it with the accounting for share-based payments to employees, with certain exceptions.
A new accounting standard will soon be coming that has the potential to simply the application of the consolidation guidance to private companies.
The FASB recently voted to affirm decisions made in an exposure draft issued last year modifying the variable interest entity (VIE) consolidation model.
Original air date: June 5, 2018
Recording at http://www.mhmcpa.com
The new partnership audit rules are in play for tax years beginning after Dec. 31, 2017. There is still time to amend partnership and LLC agreements, as will be necessary in nearly all cases. Certain critical aspects of the new rules were clarified in proposed regulations that the IRS published recently. As the IRS works to finalize these regulations later this year, businesses should prepare for the potential impact of these regulations, which will be explored in this webcast.
Regardless of size or type of operation, all companies can benefit from having an audit committee to help with corporate governance strategies and, ultimately, provide the best chance to ensure the organization’s success. In the case of public companies, the Sarbanes-Oxley Act of 2002 (SOX), makes it a requirement to have an audit committee that follows several key mandates for reporting annual financial statements. Private sector companies can benefit from audit committee oversight, as well.
Original air date: Dec. 20, 2017
Recording available at http://www.mhmcpa.com
A number of updates from the SEC and the Financial Accounting Standards Board (FASB) have had an effect on public company accounting and SEC reporting. The AICPA Conference on Current SEC and PCAOB Developments, held December 4-6 in Washington D.C., highlights some of the key topics that will have an impact on SEC registrants and other public business entities moving forward.
Members of our team who attended the conference will provide a debriefing on the key points, tips and other guidance shared at the conference.
The time has come for public companies to adopt the new revenue recognition standard. Early adopters have already given us an indication of what the audit risks will be, and they've also been the guinea pig for comments from regulators. As expected, the adoption and application of the new guidance is an item that the Securities and Exchange Commission (SEC) is paying attention to, already having sent comment letters to several early adopters. The ongoing public company adoption and comment process is important for private companies as well. The questions the SEC raised will influence how certain types of contracts are approached and the types of information that will be expected to comply with the disclosure requirements.
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, including many provisions that will significantly impact the construction sector.
We will focus on the manner in which construction businesses are impacted by the new law, and will offer insight about how the sector should respond to the new provisions.
Effective Jan. 1, 2017, Revenue Procedure 2016-37 changed the IRS determination letter program to eliminate the five-year remedial amendment cycle for tax-qualified individually designed plans (IDP).
After Jan. 1, 2017, sponsors of IDPs are only permitted to apply for determination letters for initial plan qualification and upon the plan's termination, and in certain other circumstances that will be decided by the Treasury Department and IRS. Determination letters will still be issued for volume submitter plans or other types of pre-approved plans.
The changes could mean that determination letters for your employee benefit plan are out-of-date, particularly if your organization has an individually designed plan. A close evaluation of your plan documentation will be essential.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
Webinar Slides: Eye on Washington - Quarterly Business Tax Update, Q3 2017
1. #cbizmhmwebinar 1
CBIZ & MHM
Executive Education Series™
Eye on Washington: Quarterly Tax Update
(3rd Quarter 2017)
Steve Henley, Bill Smith and Don Reiser
October 26 and 31, 2017
2. #cbizmhmwebinar 2
About Us
• Together, CBIZ & MHM are a Top Ten accounting provider
• Offices in most major markets
• Tax, audit and attest and advisory services
• Over 2,900 professionals nationwide
A member of Kreston International
A global network of independent
accounting firms
MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm that provides audit, review and attest services, and works closely with CBIZ, a business consulting,
tax and financial services provider. CBIZ and MHM are members of Kreston International Limited, a global network of independent accounting firms.
3. #cbizmhmwebinar 3
Before We Get Started…
• To view this webinar in full screen mode, click on view options
in the upper right hand corner.
• Click the Support tab for technical assistance.
• If you have a question during the presentation, please use the
Q&A feature at the bottom of your screen.
4. #cbizmhmwebinar 4
CPE Credit
This webinar is eligible for CPE
credit. To receive credit, you will
need to answer periodic
participation markers
throughout the webinar.
External participants will receive
their CPE certificate via email
immediately following the
webinar.
5. #cbizmhmwebinar 5
Disclaimer
The information in this Executive Education Series
course is a brief summary and may not include all
the details relevant to your situation.
Please contact your service provider to further
discuss the impact on your business.
6. #cbizmhmwebinar 6
Presenters
Steve has 30 years experience in serving the tax needs of clients in a
variety of industries including retail, distribution and manufacturing,
services, technology and communications. In serving as lead tax
engagement executive, Steve’s focus is identifying and executing value
creating strategies to meet the needs of his clients in a variety of
technical areas, such as revenue recognition, acceleration of deductions,
research and experimentation credits, state and local tax minimization,
M&A tax structures, international tax planning and tax implications of
compensation programs.
770.858.4443 • shenley@cbiz.com
Stephen C. Henley, CPA
National Tax Practice Leader
7. #cbizmhmwebinar 7
Bill Smith is a managing director in the CBIZ National Tax Office. Bill
monitors federal tax legislation and consults nationally on a broad range
of foreign and domestic tax services for businesses and individuals. He is
frequently sought after by a myriad of media outlets to comment on the
changing tax environment and its effects on companies and individuals.
He has authored numerous tax articles, edits the CBIZ MHM InTouch
newsletter and federal Tax Alerts, and lectures on a broad range of tax
topics across the country.
301.961.1943 • billsmith@cbiz.com
William M. Smith, Esq.
Managing Director,
CBIZ National Tax Office
Presenters
8. #cbizmhmwebinar 8
Don Reiser serves as the National Leader of the International Tax
Practice for CBIZ. He has more than 30 years experience providing
international tax consulting services to public and privately-held U.S. and
foreign-based corporations as well as foreign individuals and businesses
investing in the United States. Working closely with clients that span a
variety of industries, Don addresses a broad range of domestic and
foreign tax matters.
212.790.5724 • dreiser@cbiz.com
Don Reiser
Managing Director
11. #cbizmhmwebinar 11
Comprehensive Tax Reform Background
• June 2016: House Ways and Means releases a report entitled “A Better Way
– Our Vision for a Confident America” (the House “Blueprint”)
• September 2016: Candidate Trump releases “Tax Reform That Will Make
America Great Again.” This document is no longer available on the Trump
campaign website. (“Candidate’s Proposal”)
• April 26, 2017: President Trump releases one page outline of “Tax Reform
for Economic Growth and American Jobs” (“Outline”)
• July 27, 2017: House Speaker Paul Ryan (R-WI), Senate Majority Leader
Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National
Economic Council Director Gary Cohn, Senate Finance Committee Chairman
Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin
Brady (R-TX) (“Big Six”) issue a statement on tax reform (“Statement”),
without specifics, that takes the Border Adjusted Tax off the table.
• September 27, 2017: President and Big Six release “UNIFIED FRAMEWORK
FOR FIXING OUR BROKEN TAX CODE” (“Framework”) with six pages of
recommended changes
12. #cbizmhmwebinar 12
Framework Compared to Other Proposals
Individual Taxes
Framework Source
• Almost double the Standard Deduction up to
$12,000 for individuals; $24,000 MFJ
• No personal exemptions
• Three brackets: 12/25/35 (no information on what
income levels applicable to brackets)
• Possible 4th bracket for wealthy
• Deductions eliminated except home mortgage and
charitable contributions
• Capital gains/NIIT not addressed
• AMT repealed
• Child care tax credit increased (amount not
specified) and $500 non-child dependents
• Unspecified benefits to encourage work, retirement
savings and education
• Blueprint
• Outline; Blueprint
• 12% in Candidate’s
Proposal; 35% in Outline
and Blueprint
• New
• Outline; Blueprint
• In other proposals
• All prior
• Blueprint increased child
care by $500
• New
13. #cbizmhmwebinar 13
Framework Compared to Other Proposals
Business Taxes
Framework Source
• Corporate rate: 20%
• Pass-through rate: 25% with anti-abuse provisions
• Full expensing of post-Sept. 27 tangible property
acquisitions. Five year window
• C Corporation interest expense deduction capped
without specifics – non-corporate reviewed
• Credits other than R&D and low income housing
eliminated (with wiggle room for adding)
• DPAD repealed
• Blueprint
• Blueprint
• New but addressed in
Outline; Blueprint
• New but addressed in
Outline; Blueprint
• Origins in Blueprint
• Origins in Blueprint
14. #cbizmhmwebinar 14
Framework Compared to Other Proposals
International Taxes
Framework Source
• BAT eliminated from discussion
• Territorial system
• 100 percent exemption for dividends from
foreign subsidiaries (in which the U.S. parent
owns at least a 10 percent stake)
• Repatriation
• One-time tax, to be paid over time, on profits
held overseas
• Two rates: one for cash (and cash equivalents)
and a lower one for non-cash assets
• Rates not specified
• Additional “anti-base erosion measures” for
committee process to protect the US tax base (e.g.,
subjecting certain foreign profits of US tax haven
countries to tax at a reduced rate)
• Statement
• Outline
• Origins in Blueprint;
Outline
• New
15. #cbizmhmwebinar 15
Framework Compared to Other Proposals
Estate and GST Taxes
Framework Source
• Estate tax repealed
• GST repealed
• All proposals
• All proposals
16. #cbizmhmwebinar 16
Planning Recommendations for Active Businesses
• With possibility of lower business tax rates in the future,
consider strategies to defer income and accelerate deductions
• Strategies to defer income and accelerate deductions can be
identified through an accounting methods review
• Consider deferral strategies for business gains from sale
transactions
• Businesses that are highly leveraged or capital-spending
intensive should carefully evaluate the impact of a potential
shift to a business cash flow tax that eliminates the deduction
for net interest expense
• Plan for a transition rule where net interest is not deductible
with respect to “new debt”
17. #cbizmhmwebinar 17
Planning Recommendations for Multinationals
• Evaluate the impact of deemed repatriation of previously
untaxed foreign earnings
• An E&P study should be initiated if no accurate
computation of E&P currently exists
• Evaluate opportunities to utilize foreign tax credits and
foreign tax credit pools, which can affect the
measurement of outside basis differences
• Because the US parent would receive a 100% deduction
for dividends received, an E&P study may be necessary
to determine the amount of dividends versus return of
capital or capital gain
• Consider the impact on any proposed transactions
19. #cbizmhmwebinar 19
Bonus Depreciation
• The PATH Act extended bonus depreciation provisions
that were scheduled to expire during 2015
• Taxpayers can take an immediate deduction equal to
50% of the cost of qualifying original-use (i.e., “new”)
property placed in service during the 2016 and 2017
tax years
• Bonus depreciation benefits will be scaled down under
the PATH Act, to be 40% in 2018, 30% in 2019, and will
expire thereafter (except for certain long production
property)
• Corporations can elect to accelerate the use of AMT
credits in lieu of claiming bonus depreciation
20. #cbizmhmwebinar 20
Bonus Depreciation
• Qualifying property for 2017 generally includes:
• Tangible personal property
• Purchased computer software
• Qualified leasehold improvements (see later definition)
• Qualified retail improvements (see later definition)
• Qualified restaurant property (see later definition), other
than a restaurant building, placed in service more than 3
years after the building was first placed in service
• Land improvements
• Bonus depreciation for vehicles
• $8,000 limitation on luxury autos still applies
• No bonus limit for heavy trucks/vans/SUVs (greater than
6,000-pound maximum loaded weight)
21. #cbizmhmwebinar 21
Immediate Expensing (Section 179) Election
• Allows businesses an election to deduct the cost of
qualifying property placed in service during the year,
rather than depreciation of the property costs over
time
• PATH Act permanently sets the Sec. 179 expensing
limit at $500,000, and allows the limit to be indexed
for inflation
• PATH Act permanently sets the Sec. 179 investment
limitation at $2 million, and allows the limit to be
indexed for inflation
• Limits for 2017 are $510,000 and $2.03 million
22. #cbizmhmwebinar 22
Immediate Expensing (Section 179) Election
• Eligible property generally includes tangible personal
property and off-the-shelf computer software
• Eligible property also includes the following (if elected):
• Qualified leasehold improvements
• Qualified restaurant property (including the building)
• Qualified retail improvement property
• Prior to 2016, these other categories of eligible property were
subject to a $250,000 expensing limit (part of the overall
$500,000 limit)
• PATH Act removed this restriction permanently beginning
2016, which means these other categories are eligible for full
$500,000 Sec. 179 expensing
• Election to include these other categories also subjects full
cost of property to investment limitation
23. #cbizmhmwebinar 23
Immediate Expensing (Section 179) Election
• Heavy trucks/vans/SUVs (between 6,000 and 14,000
pound gross vehicle weight) subject to $25,000 Sec.
179 expensing limit
• Luxury autos are subject to general limitations on
total depreciation plus Sec. 179 expense, so those
already taking advantage of full $8,000 bonus
depreciation (e.g., “new” vehicles) generally will not
be eligible for additional Sec. 179 expense
• Ability to claim Sec. 179 expense ultimately is
conditioned on sufficient taxable income from an
active business
24. #cbizmhmwebinar 24
Comparing 100% Bonus Depreciation and Section 179
Expensing Election in 2017
Bonus Depreciation1 Section 179 Expensing
Election2
Deduction Limit None $510,000
Investment Limit None $2,030,000
Taxable Income Required? No Yes
Used property eligible? No Yes
Qualified Leaseholds? Yes Yes3
Qualified Restaurant Property? Yes4 Yes3
Qualified Retail Property? Yes Yes3
1 50% bonus depreciation available on qualifying assets placed in service through 2017; 40% in
2018; 30% in 2019
2 $510,000 expensing election and further election to apply against qualifying real property
available
3 Limited to $250,000 for years prior to 2016; no separate limitation thereafter
4 Qualified restaurant property that is a building or that does not satisfy “3-year rule” is not
eligible for bonus
25. #cbizmhmwebinar 25
Cost Segregation
• Study performed by building engineer and CPA to properly
categorize assets associated with a building into proper
depreciable class
• Reduces recovery period for depreciation from 39 years to
15, 7, or even 5 years, thereby accelerating depreciation
rate and also availing bonus depreciation provisions
• Examples of commonly misclassified assets:
• Cabinets
• Decorative fixtures
• Partitions or removable walls
• Security equipment
• Parking lots and landscaping
• Trade-specific fixtures (special purpose electrical, etc.)
Planning Point: Automatic accounting method change – catch up
depreciation understatement in one year
26. #cbizmhmwebinar 26
De minimis safe harbor
• Recent regulations allow businesses an election to deduct
expenses (including materials & supplies) for tangible
property that would otherwise have been subject to
capitalization
• Businesses using the de minimis safe harbor can elect to
deduct tangible property expenses up to a threshold
amount
• For businesses with audited financial statements, the
threshold is $5,000 per item or invoice
• For businesses without audited financial statements, the
threshold is $2,500
• This threshold was increased from original $500
27. #cbizmhmwebinar 27
De minimis safe harbor (cont’d)
• To utilize the de minimis safe harbor, an accounting
policy must be in place at the beginning of the year
that establishes the thresholds to be used for books
and records
• Annual election statement also must be included with
each year’s tax filing
28. #cbizmhmwebinar 28
Partial dispositions election
• Recent regulations also allow a business to elect to claim a loss
on the retirement of a portion of an asset
• Disposition of a structural component (or part of such
component) of a building, or a major component of other
larger units of property are eligible. Examples:
• Roof replacement
• HVAC replacement
• Renovation or remodeling projects
• Engine of vehicle
• Basis of disposed component can be determined by any
reasonable method (e.g., discounting cost of replacement
component to original component year using PPI Index)
• Election made on return simply by recording and reporting the
distribution as such (e.g., on Form 4797)
29. #cbizmhmwebinar 29
Routine Maintenance Safe Harbor
• Recent regulations also allow a business to deduct
expenditures that keep property in its ordinary and efficient
operating condition (i.e., does not result in a betterment)
• Applies to personal property and buildings
• Can be deducted even if books and records do not conform
• An expenditure is “routine” if the taxpayer reasonably expects
to perform the activities:
• For personal property, more than once during the ADS class life of
the property
• For buildings, more than once over a 10-year period from when
the building is placed in service
• Examples – inspecting, cleaning, testing, replacing parts
• Application for Change in Accounting Method required
30. #cbizmhmwebinar 30
Inventory
• Estimated Shrinkage Deduction
• Result of bookkeeping errors, breakage or theft
• Can deduct estimate if no physical count taken at year end
• Consider prior year experience, special circumstances
• Change to shrinkage requires consent of IRS
• Write Downs
• Obsolescence reserves are generally not deductible, but
deduction allowed on potentially obsolete goods if offered
at reduced prices within 30 days of year end
• Write downs may be allowed where:
• Work-in-process or raw materials on hand (any reasonable
method)
• Scrapped materials can be written down to scrap value
31. #cbizmhmwebinar 31
Tax Credits and Incentives
• Research & Experimentation Credit
• PATH Act made the credit permanent
• Eligible expenses:
• Qualified research expenses for product, process, software
development and improvement activities
• Payments to qualified organizations for research
• Payments to energy research consortia for research
• Your company may be eligible if you develop or improve:
• Products
• Software
• Manufacturing or other processes, techniques, formulas, etc.
32. #cbizmhmwebinar 32
Tax Credits and Incentives
• Research & Experimentation Credit (cont’d)
• Ability to utilize R&E credit is dependent on tax liability
• Unused credits revert to deductions in year following
expiration (except for “reduced credit election” credits)
• R&E credit historically could not be claimed for AMT
purposes
• PATH Act permanently added new “sweeteners” to make
the R&E credit more usable for eligible small businesses
• Credit can be claimed for both regular and AMT purposes
• “Eligible small business” (for this purpose) generally includes
partnerships, sole proprietorships, and corporations without
publicly traded stock, where such entities have 3 year average
gross receipts < $50M
33. #cbizmhmwebinar 33
Tax Credits and Incentives
• Research & Experimentation Credit (cont’d)
• PATH Act “sweeteners” (cont’d)
• Up to $250,000 of credit can offset employer’s 6.2%
payroll tax
• “Eligible small business” (for this purpose) generally
includes partnerships, sole proprietorships, and
corporations, where such entities have gross receipts <
$5M for the current year, and did not have any gross
receipts in any tax year that precedes the five-tax-year
period ending with the current year
34. #cbizmhmwebinar 34
Tax Credits and Incentives
• Domestic Production Activities Deduction (DPAD)
• Deduction equal to 9% of qualified production income
• Deduction limited to taxable income
• Eligible activities include:
• Production of tangible personal property
• Engineering and architectural services
• Construction or renovation of real property
• Electricity, natural gas or water production
• Film production
• Agricultural processing
• Computer software production
Tax Trap: Several states do not allow DPAD as a deduction
36. #cbizmhmwebinar 36
Status of New Partnership Audit Rules
• New rules go into effect for tax years beginning after Dec. 31,
2017 (by law)
• Still no final regulations to clarify critical aspects of how the new
rules will operate (tiered ownership, opt-out election,
making/changing partnership representative designations)
• IRS published proposed regulations on the new rules June 13,
2017; proposed answers to many but not all questions
• IRS public hearing on content of proposed regulations took place
Sept. 18, 2017; IRS is mulling changes to proposed regulations
• Treasury official indicated at Sept. 15, 2017 ABA meeting that more
proposed regulations are targeted by the end of 2017, but did not
offer assurance about finalization by the end of 2017
37. #cbizmhmwebinar 37
Regulations Under Review by Executive Order
• In April 2017, President Trump signed an Executive Order (EO)
directing the Department of the Treasury to examine recent tax
regulations to determine whether any
• Imposed an undue financial burden on U.S. taxpayers;
• Added undue complexity to the federal tax laws; or
• Exceeded the statutory authority of the Internal Revenue Service.
• The Treasury subsequently issued a Notice identifying eight
significant regulations as meeting one of the first two criteria. (The
Treasury declined to state that any of the identified regulations
exceeded the statutory authority of the IRS – the third potential
criterion of the EO.)
• The EO also required U.S. Treasury to submit a final report to the
President by September 18, 2017, recommending specific actions to
mitigate the burden imposed by the identified regulations
• On October 2, Treasury Secretary Steven Mnuchin released his
report
38. #cbizmhmwebinar 38
Withdrawal of Valuation Regs for Family Businesses
• Section 2704 addresses the valuation, for wealth transfer tax
purposes, of interests in family-controlled entities.
• Disregards restrictions on the ability to liquidate family-
controlled entities when determining the fair market value
of an interest for estate, gift, and generation-skipping
transfer tax purposes
• Regulations sought to limit ability to use lack of marketability
and lack of control discounts in family transfers of business
interests for estate and gift tax purposes
• Treasury and the IRS now believe that the proposed
regulations’ approach to the problem of artificial valuation
discounts is unworkable
• Will publish withdrawal of regulations in full shortly
39. #cbizmhmwebinar 39
International Tax Regulations Under Review
• On July 7, 2017, IRS issued Notice 2017-38, identifying eight
regulations that it proposes to be modified or rescinded to
implement the Executive Order, including the following:
• Final and temporary regulations under Section 385 on the
treatment of certain interests in corporations as stock or
indebtedness
• Final regulations under Section 987 on income and currency gain
or loss with respect to a Section 987 qualified business unit
• Final regulations under Section 367 on the treatment of certain
transfers of property to foreign corporations
• In the October 2, 2017 report, Treasury announced a one-year
delay in the effective date of the Section 987 regulations
40. #cbizmhmwebinar 40
International Tax Regulations Under Review
• In the October 2, 2017, report to the President, Treasury set forth its recommendations
(noting that additional reports on reducing regulatory burdens will be forthcoming)
• Regarding the Section 385 documentation regulations, Treasury is considering revoking
the documentation requirements and proposing streamlined rules, including
significantly modifying the requirement to document a reasonable expectation to pay
indebtedness and the treatment of ordinary trade payables.
• Regarding the Section 385 distribution regulations, Treasury expects that tax reform will
obviate the need for these regulations, in which case they would be revoked. However, if
legislation does not eliminate the need for the distribution regulations, Treasury will
reassess these rules and may proposed more streamlined and targeted regulations.
• Regarding the Section 987 regulations, Treasury intends to modify the regulations to
permit taxpayers to adopt a simplified method of calculating and translating Section 987
gain or loss. Treasury also considering alternative loss recognition timing limitations and
alternatives to the transition rules.
• Regarding the Section 367(d) regulations, IRS will develop a proposal to expand the
active trade or business exception to include relief for outbound transfers foreign
goodwill and going concern value in non-abusive situations
42. #cbizmhmwebinar 42
Avrahami v. Commissioner, 149 T.C. No. 7
• Taxpayers owned 3 successful jewelry stores and 6 companies that
owned commercial real estate in Phoenix
• TPs were referred to captive specialist attorney in NY
• She set up captive (“Feedback”) in St. Kitts in 2007
• Feedback filed election under § 953(d) to be treated as a domestic
corporation for US income tax purposes, and an election under §
831(b) to be taxed as a small insurance company
• Feedback wrote P&C policies and anti-terrorism policies with
premiums totaling $1.1 million in 2009 ($730,00 for direct policies
and $360,00 for terrorism) and $1.3 million in 2010 ($810,00 for
direct policies and $360,00 for terrorism)
• Premiums were determined by an actuary
• Terrorism policies were written through a risk pool that “ceded” risk
to the pool and in return accepted the same amount of risk from the
pool
43. #cbizmhmwebinar 43
Avrahami v. Commissioner, 149 T.C. No. 7
• The $360,000 terrorism risk pool premium was 30% of its target
premiums
• No claims were filed against Feedback under any direct policies in
2009 or 2010
• TPs established Belly Button LLC, putatively owned by their children,
unbeknownst to the kids
• Feedback loaned Belly Button approx. $2.3 million to purchase real
estate (either directly or through TP), with commercial note terms
• Feedback had total assets of $3.9 million on 2010 return but because
of § 831(b) election it had paid no tax on premiums (only on
investment income)
• IRS: Feedback is not an insurance company, so all premiums paid are
not deductible as insurance premiums by TPs, and all “loans” are
distributions that are not qualified because § 953(d) election only
available to insurance companies.
44. #cbizmhmwebinar 44
Avrahami v. Commissioner, 149 T.C. No. 7
• Court:
• When the issue has come to us, we have applied and
construed the Supreme Court's definition of
insurance in Le Gierse and its four nonexclusive
criteria. To be considered insurance the arrangement
must:
• involve risk-shifting;
• involve risk-distribution;
• involve insurance risk; and
• meet commonly accepted notions of insurance.
45. #cbizmhmwebinar 45
Avrahami v. Commissioner, 149 T.C. No. 7
• Court:
• Risk-distribution
• Because risk pool was not legitimate insurance
company, the “reinsurance” of 30% of Feedback’s risk
though the pool was not risk distribution
• Insurance in Commonly Accepted Sense
• Feedback was not run in a business-like manner (e.g.,
“invested only in illiquid, long-term loans to related
parties and failed to get regulatory approval before
transferring funds to them;” dealt with claims on ad
hoc basis; no claims at all before IRS audit; premiums
unreasonable and set to hit target)
46. #cbizmhmwebinar 46
Avrahami v. Commissioner, 149 T.C. No. 7
• Court:
• Effect on Feedback
• Parties agreed premiums not taxable in US
• Effect on TPs
• Premiums not deductible for insurance
• Loans were not taxable as distributions (which IRS argued
were ordinary since Feedback is foreign corporation so
dividends not qualified)
• There were enough indicia of bona fide indebtedness
that loans were upheld
• Penalties: Court held TPs reasonably relied on non-
promoter professionals
47. #cbizmhmwebinar 47
Crestek, Inc. v. Commissioner, 149 T.C. No 5
• Crestek, a US parent corporation, owned 100% of a U.S. subsidiary which, in
turn, wholly owned several controlled foreign corporations (CFCs)
• The CFCs made substantial loans to the U.S. subsidiary and one CFC guaranteed
a bank loan made to the U.S. subsidiary. Two CFC also held trade receivables
from a domestic affiliate of the U.S. subsidiary in connection with the sale of
finished products to such affiliate.
• Under the Code, if a CFC holds an “obligation” of a U.S. shareholder (or related
U.S. person) that is treated as an investment in “U.S. property” under Section
956, the U.S. shareholder generally must include in income currently the lesser
of the CFC’s earnings and profits and the principal amount of the obligation. A
CFC is considered to hold an obligation of a U.S. person if the CFC guarantees
that obligation.
• Under an exception, an obligation of a U.S. person arising in connection with
the sale or processing of property is not treated as U.S. property under Section
956 if the amount outstanding at any time during the year does not exceed the
amount that is considered “ordinary and necessary” to carry on the trade or
business of both the CFC and the U.S. person
48. #cbizmhmwebinar 48
Crestek, Inc. v. Commissioner, 149 T.C. No 5
• Tax Court granted summary judgment to the IRS on the intercompany loans
from the CFCs to the U.S. subsidiary, the CFC’s loan guaranty and one trade
receivable, holding that they constituted U.S. property under Section 956,
and therefore Crestek was required to include those amount in income
• Court rejected the taxpayer’s argument that because the CFC guarantor was
insolvent (and thus the guaranty was worthless), the loan guaranty should not
be considered U.S. property
• Court concluded that the trade receivable did not qualify for the exception since
it had been outstanding for more than three years, bore no interest and the CFC
which sold the property to the U.S. subsidiary had ceased operations
• Court also held that when a CFC holds U.S. property for multiple years, Section
956 does not require the IRS to make an income inclusion in the first year
• However, court denied summary judgment to the IRS on one of the trade
receivables, holding that a material dispute of fact remained as to (1)
whether that receivable was incurred in an ongoing trade or business and
(2) whether it was “ordinary and necessary”
49. #cbizmhmwebinar 49
Grecian Magnesite Mining, Industrial & Shipping Co, SA v.
Commissioner, 149 T.C. No 3
• Foreign corporation invested in a U.S. partnership, and redeemed its
interest at a gain
• Parties agreed that portion of the gain attributable to real estate
owned by the partnership was taxable as effectively connected
income under FIRPTA (Section 897(g))
• Under the Code, if a foreign corporation is engaged in a U.S. trade or
business, it is subject to U.S. taxation on income that is effectively
connected with the conduct of that trade or business (ECI)
• Relying on Rev. Rul. 91-32, the IRS applied an “aggregate approach”
and asserted that the foreign corporation should be treated as
selling its proportionate interest in each of the partnership’s
underlying assets, and therefore gain on the redemption was ECI
subject to U.S. tax
50. #cbizmhmwebinar 50
Grecian Magnesite Mining, Industrial & Shipping Co, SA v.
Commissioner, 149 T.C. No 3
• Tax Court rejected the IRS position in Rev. Rul. 91-32, holding that the redemption
gain was attributable to the sale of a single capital asset (the foreign corporation’s
partnership interest), and was not a sale of an undivided interest in the underlying
partnership assets
• Tax Court further held that the redemption gain was foreign source income (based
on the residency of the foreign corporation) that is not ECI because it was not
attributable to a U.S. office or fixed place of business of the foreign corporation
• Implications of Grecian Magnesite
• Are “blocker corporations” still needed for foreign investment into the U.S.?
• Refund opportunities for open years
• Does Grecian have relevance outside the context of sale/redemption of
partnership interest?
• Possible IRS Responses
• Will IRS appeal the decision?
• Will IRS seek to overrule Grecian Magnesite through regulations or legislation?
51. #cbizmhmwebinar 51
IRS Appeals Medtronic v. Commissioner, T.C. Memo 2016-112
• Medtronic US licensed technology, know-how and trademarks to its Puerto
Rican subsidiary and used the comparable uncontrolled transactions (CUT)
method to determine the arm’s length royalty rate for the licensed IP
• Under Treas. Reg. 1.482-4(c), arm’s-length licenses must involve
comparable intangibles and comparable circumstances for the CUT method
to be a reliable method
• IRS asserted that the Puerto Rico subsidiary functioned as a contract
manufacturer (and not a full-fledged manufacturer as claimed by
Medtronic) and used the comparable profits method (CPM) to allocate
additional income to Medtronic US
• Tax Court agreed with Medtronic that the CUT was the best method to
apply under Section 482, but disagreed with its computations and
increased the royalty rate to reflect the required comparability adjustments
required under the CUT method
52. #cbizmhmwebinar 52
IRS Appeals Medtronic v. Commissioner, T.C. Memo 2016-112
• IRS appealed the decision to the Eighth Circuit Court of
Appeals on April 21, 2017 and filed a brief with the Appeals
Court on July 21, 2017
• In its brief, the IRS makes the following arguments:
• Tax Court’s transfer pricing analysis is wrong as a matter of law because
there is no CUT
• Tax Court’s rejection of the CPM method conflicts with the Section 482
regulations
• Even if there is a CUT, the case should be remanded to the Tax Court to
correct adjustments to the CUT royalty rate
54. #cbizmhmwebinar 54
If You Enjoyed This Webcast…
Upcoming Courses:
• 11/8 & 12/7: Individual Year-End Tax Planning Tips for 2017 and Beyond
• 11/9 & 11/14: Year-End Tax Planning for the Construction Industry
• 12/6 & 12/13: Opportunities to Offset Payroll Tax Liabilities with Research and
Experimentation Credit
Recent Publications:
• Tax Reform Tracker
• Trump Administration and Republican Leadership Release Tax Reform Plan
• Executive Order May Reduce U.S. International Tax Burdens
• International Information Return Penalties: A Continuing Concern for U.S.
Taxpayers
55. #cbizmhmwebinar 55
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