Tax & Accounting Blog

License Exception SCP (Support for the Cuban People) – Where We Are Now?

License Exception SCP (Support for the Cuban People) – Where We Are Now?

From the time President Obama revealed his new foreign policy toward Cuba on December 17, 2014, the Bureau of Industry and Security (BIS), has issued six rules in the Federal Register that have established and increasingly liberalized the export license exception SCP, i.e., section 740.21 of the Export Administration Regulations (EAR).  While the most … Read More

Electrify Your Payroll with Ancillary Services!

Electrify Your Payroll with Ancillary Services!

For many practitioners, payroll services are a welcome jolt of energy—and profitability—for their firms. Even if you already have a respectable payroll base and are pleased overall with your payroll operations, there’s always an opportunity to improve profitability. And while the actual processing is likely to remain your principal source of revenue, payroll can also … Read More

U.S. IRS Updates List of International No-Ruling Areas

U.S. IRS Updates List of International No-Ruling Areas

On January 3, 2017, the U.S. Internal Revenue Service (IRS) issued Revenue Procedure ("Rev. Proc.") 2017-7, superseding Rev. Proc. 2016–7, providing a current list of areas of the Internal Revenue Code (the “Code”), under the jurisdiction of the Associate Chief Counsel (International), on which the IRS will not issue letter rulings … Read More

Now Introducing a Multi-Unit Income & Deductions Folder in UltraTax/1065

Now Introducing a Multi-Unit Income & Deductions Folder in UltraTax/1065

The 2016 version of UltraTax CS® now has input screens and data-entry fields to support multiple units of trade or business activities for Form 1065, page 1 and additional activity-based reporting items for partners. The following changes related to multiple trade or business activities were made to the UltraTax/1065 input … Read More

The Personality Differentiator For More Business

The Personality Differentiator For More Business

Why should I hire you? What makes you unique from competitors? How are your services better than theirs? These are the common questions that marketers ask when developing a marketing plan. The simple fact is that your firm looks pretty much the same as all the others within your industry unless you can demonstrate and … Read More