Case Study

Apolla Performance Wear: Shark Tank Victory

Sep 20th, 2022

Context Founded in 2014, Apolla creates patented compression socks for dancers and expanded to all populations (yoga, Pilates, etc.) in 2020 By 2018, Apolla realized the need for monthly data, accurate reporting, and accounting that…
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Article

Inflation Reduction Act, Global Tax Deal…

Sep 19th, 2022

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. Among its many provisions is a corporate alternative minimum tax of 15% of financial statement income, effective for tax years beginning after…
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Case Study

A School District Improves Cybersecurity…

Sep 16th, 2022

Management asked: "What are the biggest threats to the district and are we adequately addressing these threats?" Context The school district required an enterprise risk assessment to determine high-risk areas/processesBased on the risk assessment results,…
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Article

IRS and Treasury Provide Needed Clarity to…

Sep 15th, 2022

The IRS and Treasury have issued technical corrections to the January 4, 2022 foreign tax credit (“FTC”) Final Regulations to ease some taxpayers’ tensions regarding the cost-recovery requirement. The Final Regulations modified the net gain…
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Article

Some States Will Tax Federal Student Loan…

Sep 15th, 2022

Last month, President Biden announced that the federal government will forgive up to $20,000 of federal student debt per borrower subject to income limitations—$125,000 per year or $250,000 if married. Generally, debt forgiveness is taxable income…
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Article

The New Stock Buyback Excise Tax

Aug 19th, 2022

Inflation Reduction Act As a previous compromise from the original Build Back Better proposal, President Biden recently signed into law the Inflation Reduction Act. This act includes a wide variety of provisions, and  the following…
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Video

Financial Services Tax Update Webinar

Aug 18th, 2022

In this webinar, our professionals discuss the latest developments in R&D and other various federal and state tax credits, intricate state tax nexus rules, and the latest updates affecting the financial services industry. View presentation…
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Article

Inflation Reduction Act of 2022 Signed Into…

Aug 17th, 2022

President Biden has signed the Inflation Reduction Act of 2022, which includes significant measures related to tax, climate, energy, and healthcare. It has been reported that potential opposition was averted by scaling down the corporate…
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Article

Stablecoins: Fiat-backed vs Crypto…

Aug 16th, 2022

What are stablecoins? Stablecoins are a category of cryptocurrency whose value is pegged to another asset, most typically a fiat currency, to maintain a stable value in the ultra-volatile world of crypto.[1] Stablecoins are typically…
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Article

CHIPS Act paves the way for development of…

Aug 12th, 2022

Co-authored by Nolon Blaylock The CHIPS (Creating Helpful Incentives to Produce Semiconductors) and Science Act of 2022 was recently signed into law by President Biden. The purpose of this bill is to develop domestic manufacturing…
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Article

Global Tax Deal Continues to Spur Debate

Aug 11th, 2022

The widely publicized “global tax deal” is an expansive agreement that would, among other things, establish a worldwide minimum tax on profits of large multinational corporations. As one might expect, it’s the subject of vigorous…
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Article

Accounting Association Believes "Small…

Aug 11th, 2022

In January 2022, the IRS issued proposed regs regarding the treatment of domestic partnerships and S corporations that own stock of passive foreign investment companies (PFICs) and their domestic partners and shareholders. The proposed regs…
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