Tax & Accounting Blog

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Flintstones, Jetsons or Inspector Gadget? Regional Perspectives on Corporate Tax Compliance

At the American Bar Association’s “U.S. – Latin America Tax Planning Strategies” conference in Miami this week, I had the pleasure of speaking on a panel called “Managing Your Tax Compliance in Latin America – Systems, Processes, and People.”  Joined by tax professionals from Argentina, Brazil, and Mexico, we touched on trends in corporate tax … Read More

Things to Consider for Value and Protection of Net Operating Losses

Things to Consider for Value and Protection of Net Operating Losses

Co-Authored by Byron Hamlett & Gregory Fairbanks Have you recently given careful consideration to the value and protection of Net Operating Losses? With the downturn in the economy in late 2008, many companies have been generating net operating losses (“NOL”s).  As the economy improves, companies are beginning to utilize NOLs.  However, such NOLs may not … Read More

Who says states are complicated?

Who says states are complicated?

State provisions are complex and raise plenty of challenges.  States have numerous issues and adjustments from the federal tax return.  For example, some decouple and revalue fixed assets for things such as bonus depreciation or Section 179 expense.  Some states have used a hybrid income base, such as Texas and Michigan.  More and more states … Read More

The American Taxpayer Relief Act of 2012: Deep Sigh for Tax Accountants

The American Taxpayer Relief Act of 2012: Deep Sigh for Tax Accountants

While legislators worked to act as swiftly as possible, the American Taxpayer Relief Act of 2012 (2012 Act) was not signed into law until 2013. President Obama signed into law the last-minute compromise on January 2, 2013, settling many unresolved fiscal cliff tax issues, extending some of the 2001 and 2003 tax cuts and making other … Read More