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Articles & Updates

  • 10.09.2015 - A Manufacturing Challenge: Thinking Differently to Compete Globally
    To survive in today’s economic climate, it has become evident that small to mid-sized manufacturing companies need to continually think and act creatively about the factors which will allow them to achieve global competitiveness.
  • 10.08.2015 - Top 5 Things to Think About Regarding Your Transfer Pricing
    With the release of the OECD’s Base Erosion and Profit Shifting (BEPS) action plan on October 5th, transfer pricing has been at the top of the minds of many tax executives. The plan is one of the largest scale efforts in history to standardize tax laws across national borders. As a result, audits may become more aggressive as tax authorities implement the OECD’s recommendations.
  • 10.07.2015 - 10 Tips to Help Businesses Avoid Payroll-Related Fraud
    Payroll is one of the largest expenses on a company’s income statement. Accordingly, companies should design, implement, and maintain a system of controls over payroll to ensure that transactions are properly authorized and recorded.
  • 10.06.2015 - How Can You Sleep At Night?
    As an executive and leader of your company, you ask yourself the simple question: “As a business, are we protected against a cyber-attack?” It sounds simple. We ask our IT manager or outside IT support company, “Are we protected?” You knew the answer before you asked the question, “Of course we are!” So, you got the answer you wanted…but is it the truth?
  • 10.06.2015 - Why You Should Care About the Internet of Things
    What if you could predict the future? No, seriously, what if you had the ability to know when a machine was likely to break down in your plant, when the escalator would stop working or when the water flow through a cooling pipe had become insufficient? These are all real capabilities that your business can embrace to reduce cost, increase revenue and edge out your competitors by leveraging the Internet of Things (IoT).
  • 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.

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