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Articles & Updates

  • 10.05.2015 - The Benefits of Credit Insurance
    The U.S. economy has not always been on the cutting edge of exports. Our trading history is much younger than that of our European forebears. Over hundreds of years, trade between European countries grew quickly because of the close proximity. However, European exporters were faced with currency differences, as well as numerous legal frameworks when selling outside their country. Trade finance and other credit instruments slowly evolved in these markets, primarily out of Germany and France. Credit insurance is a prime example of a trade instrument that developed in Europe more recently (over the past 20 years) and is becoming much more active here in the U.S.
  • 09.29.2015 - DSS Announces 2015 Medicaid Wage Enhancement Program
    On September 22, 2015, the Department of Social Services (DSS) released program details related to the Medicaid reimbursements for eligible direct and indirect care employees wage increases discussed as part of this year’s legislative session, as well as benefit increases proposed by DSS.
  • 09.28.2015 - IRS Releases Temporary Regulations to Coordinate Arm’s Length Standard and Best Method Rule for Transfer Pricing
    On September 14, the IRS issued temporary regulations that address the determination of arm’s-length transfer prices for interrelated transactions among related parties.
  • 09.23.2015 - How to Form a Partnership for Tax Purposes
    A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and receives a proportionate share in the profits and losses of the business. Generally, the Internal Revenue Service (IRS) does not consider partnerships to be separate from their owners for tax purposes; instead, they are considered "pass-through" tax entities.
  • 09.18.2015 - Busy Tax Agenda Awaits Congress’ Return after August Recess
    Congress returned to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popular but temporary tax breaks and decide on a funding level for the IRS. As passage of the Surface Transportation Act in late July showed, tax law changes can appear suddenly and can make significant changes.
  • 09.18.2015 - New Highway Trust Fund Law Brings New Deadlines, Requirements for Businesses
    On July 31, 2015, President Obama signed into law the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” Although primarily designed as a three-month stopgap extension of the Highway Trust Fund and related measures, tucked inside this new law are a number of important tax provisions which impact partnerships and C corporations. Anyone who owns or manages such a business should be made aware of these changes.
  • 09.17.2015 - FASB Issues Amendments to Plan Accounting
    On July 31, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2015-12 (ASU). The ASU consists of three parts, with the goal of simplifying the financial statement presentation and disclosure requirements for employee benefit plans.
  • 09.09.2015 - BlumShapiro Announces Massachusetts Long-Term Care Benchmarking Tool
    BlumShapiro has obtained the Massachusetts long-term care facilities cost report data from the Center for Health Information and Analysis (the Center) (2013 is the most recent period of data currently available from the Center), which has information for over 400 Massachusetts long-term care facilities. Using this data, BlumShapiro has created a data benchmarking tool that calculates many statistics for Massachusetts long-term care facilities.
  • 09.02.2015 - Is Your Company Prepared For Increased Transfer Pricing Scrutiny?
    A transfer price is the price charged for goods, services or intangibles that are sold or transferred between related legal entities within a multinational enterprise. Transfer pricing regulations require that a transfer price be arm’s length, meaning that the transfer price must be consistent with the price that would have been charged to an unrelated party.
  • 09.01.2015 - IRS Releases Revenue Procedure 2015-41 - Updated Procedures for Advance Pricing Agreements
    An Advance Pricing Agreement (“APA”) allows the taxpayers to resolve transfer pricing issues with the IRS in a cooperative manner. The process lessens the burden of compliance by giving taxpayers greater certainty regarding covered issues and resolving issues in advance. Revenue Procedure 2015-41 (released August 12, 2015) updates these procedures to improve clarity, readability and organization of the APA program.
  • 08.25.2015 - Rhode Island Medicaid Retroactive Rate Adjustment
    In a meeting at the Executive Office of Health and Human Services (EOHHS) on August 20, 2015, it was disclosed that the EOHHS had not satisfied all of the technical requirements for making the change from the cost-based to the price-based methodology for nursing home payments until May 3, 2013. As a result, there will be retroactive adjustments to all providers for the period October 1, 2012 through May 3, 2013.
  • 08.21.2015 - Businesses Shouldn’t Live In Fear of Data Breaches – They Should Take Steps to Prevent Them
    Every day, hackers who wish to compromise personal information explore new methods of injecting chaos into the lives of people and businesses, often causing widespread panic. There is good news, though. There are proactive steps that can be taken to protect sensitive data from outside harm.

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