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The IRS is winning more cases in the US Tax Court over companies' valuation of intangible assets, such as patents and trademarks, through transfer pricing. The wins have caught the attention of companies and practitioners as they mull the growing risks of transfer pricing, which governs transactions between related companies that are part of the same multinational group. Disputes between the IRS and companies such as Coca-Cola and 3M have showcased the agency's newfound ability to audit their positions and win in Tax Court when challenged. Both cases are being appealed. In addition, a new IRS policy to assess more penalties when documentation is lacking could make companies' transfer pricing positions much riskier than in the past, practitioners say, and taxpayers may have to start factoring that in. In this week's Talking Tax podcast, Bloomberg Tax reporter Caleb Harshberger spoke with Grant Thornton LLP Transfer Pricing Technical Leader Steve Wrappe and Greenberg Traurig LLP shareholder Sharon Katz-Pearlman about how the IRS has changed its approach and what additional funding from the 2022 Inflation Reduction Act means for taxpayers moving forward. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
A review of this week's major US international tax-related news. In this edition: US Tax Court rules taxpayer entitled to DRD, but limits foreign tax credit.
BUSINESS: Coca-Cola to appeal $6-B US tax court penalty | August 4, 2024Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribeVisit our website at https://www.manilatimes.netFollow us:Facebook - https://tmt.ph/facebookInstagram - https://tmt.ph/instagramTwitter - https://tmt.ph/twitterDailyMotion - https://tmt.ph/dailymotionSubscribe to our Digital Edition - https://tmt.ph/digitalCheck out our Podcasts:Spotify - https://tmt.ph/spotifyApple Podcasts - https://tmt.ph/applepodcastsAmazon Music - https://tmt.ph/amazonmusicDeezer: https://tmt.ph/deezerStitcher: https://tmt.ph/stitcherTune In: https://tmt.ph/tuneinSoundcloud: https://tmt.ph/soundcloud#TheManilaTimes Hosted on Acast. See acast.com/privacy for more information.
It's tax time in the U.S., which means Americans and residents are hurriedly poring over paperwork, filling in forms and hoping to file by the deadline, April 15th which is today! You don't have to fear the IRS. For over four decades my guest, Dan Pilla has been the nations leader in taxpayers' rights defense and IRS abuse prevention and cure. Regarded as one of the country's premiere experts in IRS procedures, he has not only helped thousands of citizens solve personal and business tax problems but also founded a national society of tax professionals, teaching them how to be successful in tax problem resolution. Dan is an Enrolled Agent and licensed to practice both before the IRS and in US Tax Court. Visit the website or talk with Dan and you'll find that there's no such thing as a hopeless tax problem. taxhelponline.com sageintl.com
A new federal rule now requires more than 32 million small businesses nationwide to file ownership information to a little known agency in the U.S. Treasury Department or face potential penalties. The problem: Many of these businesses don't know about it. It's called the Corporate Transparency Act and the new law became effective January 1, 2024 Today's guest, Dan Pilla has a strong opinion about the CTA and rightly so. For over four decades, Dan has been the nation's leader in taxpayers' rights defense and IRS abuse prevention and cure. Regarded as one of the country's premiere experts in IRS procedures, he's not only helped thousands of citizens solve personal and business tax problems but also founded a national society of tax professionals, teaching them how to be successful in tax problem resolution. Dan is an Enrolled Agent and licensed to practice both before the IRS and in US Tax Court. His website is taxhelponline.com SageIntl.com CheriHillShow.com
On this day in legal history, July 26th, in 1990, President George H.W. Bush signed into law the Americans with Disabilities Act, a comprehensive civil rights law that prohibits discrimination based on disability. It covers five main areas, including employment, public services, public accommodations and commercial facilities and telecommunications. The act mandates that employers, public services, and businesses provide reasonable accommodations for people with disabilities, ensuring equal opportunities in all facets of society. It represents a significant advancement in guaranteeing the rights of individuals with disabilities, protecting them from exclusion, segregation, and unequal treatment. In employment, the ADA makes it unlawful for any employer to discriminate against qualified individuals with disabilities in job application procedures, hiring, advancement, compensation, training, and other terms, conditions, and privileges of employment. Public entities are required under the ADA to provide equal opportunity for individuals with disabilities to benefit from all of their programs, services, and activities. Commercial businesses that provide public accommodations must remove barriers in existing buildings where it is easy to do so without much difficulty or expense, given the businesses' resources. Finally, any violation of these requirements can lead to legal sanctions, compensations, and penalties.TBL Licensing LLC, owner of brands like The North Face and Wrangler, is appealing against a $505 million tax bill upheld by the US Tax Court in 2022. The tax dispute stems from TBL Licensing's transfer of its property, including intangible assets, to a foreign subsidiary as part of a Section 361 corporate reorganization. This process involves one company transferring all of its assets to another company in exchange for stock, which is then distributed to its shareholders.At the heart of the dispute is whether a lump-sum tax should be applied immediately after the transfer of assets, as argued by the IRS, or whether the income should be recognized and taxed annually, as contended by TBL Licensing. The company argues that the Tax Court's interpretation of Section 367(d) would make every Section 361 exchange subject to the immediate-gain-recognition rule, thereby eliminating the role of the annual-payments rule. TBL Licensing also asserts that Congress favored annual payments to promote accuracy and avoid disputes over valuation.The IRS argues that all outbound reorganizations should be subject to the disposition-payment rule, with exceptions carved out by the Treasury for instances where the annual-payments rule could apply without risking tax avoidance. The case, which could impact many multinationals, is currently being heard by the US Court of Appeals for the First Circuit.North Face Maker, IRS Test $505 Million Multinational Tax RulingThe Australian Federal Court has imposed a $14 million (A$20 million) fine on Meta Platforms, Facebook's parent company, for undisclosed data collection using the now-defunct Onavo app. Between 2016 and 2017, Meta promoted Onavo as a virtual private network (VPN) service for safeguarding personal information. VPNs function by providing a different online address to mask a user's identity. However, the court found that Meta leveraged Onavo to collect users' location data, usage patterns of other apps, and visited websites for its own advertising goals. Judge Wendy Abraham stated this lack of sufficient disclosure could have prevented thousands of Australian consumers from making an informed decision about their data's usage prior to downloading and using Onavo Protect. This ruling, including A$400,000 in legal fees owed to the Australian Competition and Consumer Commission (ACCC), forms part of Meta's ongoing legal issues regarding its handling of user data in Australia. Despite this, the company still faces another legal challenge related to its dealings with data analytics firm Cambridge Analytica.Australia fines Facebook owner Meta $14 mln for undisclosed data collection | ReutersElon Musk, the CEO of Tesla and SpaceX, and owner of Twitter, or X, or whatever he's calling it today, plans to appeal to the U.S. Supreme Court a decision regarding a consent decree issued by the Securities and Exchange Commission (SEC). The consent decree was implemented following Musk's tweet in August 2018 claiming he had "funding secured" to take Tesla private, an action the SEC claimed defrauded investors. This decree has been upheld by the 2nd U.S. Circuit of Appeals in Manhattan. Musk's legal team argues that the SEC overstepped its authority, alleging that the decree infringes upon Musk's free speech. The decree was part of a settlement in which Musk and Tesla each paid $20 million in fines, and Musk agreed to have some tweets pre-approved by a Tesla lawyer. Musk's legal team insists that the SEC had no right to impose an "unconstitutional gag rule" as part of the settlement.Elon Musk to appeal loss in SEC case to Supreme Court | Reuters Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe
Welcome to a very special bonus episode of What The Tech from Boast AI!Today, we're unpacking some of the findings from a pair of recent court rulings in the United States that emphasize just how much time and money can be wasted when businesses don't exercise savvy (and scrutiny) when applying for R&D tax credits. This conversation features Boast AI's own Director of Customer Delivery Ashley Crawford along with our Senior Product Marketing Manager Asad Ali, and was originally featured as part of Boast AI's weekly InnovatorsLive series on LinkedIn.In both cases discussed today, titled Little Sandy Coal v. Commissioner and Scott Moore, et al. v. Commissioner, the courts found that taxpayers failed to substantiate certain activities and their associated qualified research expenditures (QREs) due in large part to a lack of proper documentation. Along with being a lesson on the importance of good record keeping, the cases shine a light on several missed opportunities where the taxpayers may have been able to leverage the tax code to their advantage. I hope you enjoy the show and stay tuned for next week's regularly scheduled episode of What The Tech featuring innovators from across North America's tech ecosystem!Boast AI accelerates the success of innovative businesses globally with software that integrates financial, payroll, and engineering data into a single platform of R&D intelligence. Visit Boast.ai, sign up for our Blog newsletter and follow us on LinkedIn for weekly #InnovatorsLive sessions and the latest news to fuel your growth. Intro and Outro music provided by Dennis Ma whose mixes you can find on Soundcloud at DJ DennyDex.
A monthly review of US international tax-related developments. In this edition: US House Republicans pass debt ceiling, spending bill; impasse continues – IRS provides transition period for documentation requirements for FTC ‘single country exception' – IRS updates crypto notice, virtual currency remains unavailable to generate FX gain or loss – IRS addresses micro-captive transactions as listed transactions – IRS releases general plan for spending $80 million over next 10 years – IRS interim guidance on APA submissions fundamentally changes early stages of process – US Tax Court rules IRS cannot assess penalties under Section 6038(b) for willfully failing to report foreign income.
Episode 28: In this episode, Timalyn discusses the IRC 662 Accuracy-Related Penalty. She'll explain what it is, how it can be issued against you and how to avoid it. She'll use the example of a live case involving Beyoncé Knowles-Carter. Timalyn begins by explaining how a case is in the US Tax Court, part of the Taxpayer Privacy Act no longer applies. This is why she's able to find public information about the case involving Beyoncé. What is the Accuracy-Related Penalty? This penalty applies if you underpay the tax required to be shown on your return. Individuals have 2 common accuracy-related penalties. The first is negligence or disregard of the rules or regulations. The second is a substantial understatement of income tax. Timalyn explains that negligence is when someone doesn't make a reasonable attempt to follow the tax laws, when preparing a tax return. Disregard means someone carelessly, recklessly or intentionally ignore the tax rules or regulations. Examples of Negligence Not keeping records to prove you qualify for specific credits and/or deductions is a simple example. For instance, if you are claiming a child on your return, you need to be able to prove the child exists and that you have the right to claim him/her. Another example would be not claiming income shown in an information return, such as on a W-2 or 1099. Finally, not checking the accuracy of a deduction or credit; especially when it seems too good to be true. Examples of a Substantial Understatement of Income Tax An individual can be hit with this penalty if he/she understates the tax liability by 10% of the tax required to be shown on the tax return or $5,000 (whichever is greater). A business owner might claim a deduction based on Section 199a Qualified Business Income Deduction. The penalty would apply if income is understated by 5% of the tax required to be shown or $5,000 (whichever is greater). How to Avoid the Accuracy-Related Penalty · Don't claim a credit or deduction for which you don't actually qualify. · Claim all required income when completing your tax return. Timalyn reminds you that the IRS may be slow, but they're not stupid. They will eventually find out and assess various penalties. In previous episodes, Timalyn has discussed the Failure to File Penalty (which can be up to 25%). If you are facing an Accuracy-Related Penalty, it can be up to 20% of the portion of the underpayment due to negligence or disregard. It's also 20%, when a substantial understatement is made. This means a penalty of 20% of the amount you understated. You'll also be assessed the interest related to these issues. Can I Get the Accuracy-Related Penalty Removed or Reduced? Timalyn explains that it might be possible, but listen to her episode on First-Time Penalty Abatement. You have the burden of proof as to why the penalty should be removed or reduced. You'll have to show that you acted in good faith and can show a reasonable cause as to why it happened. Timalyn explained Removing Penalties for Reasonable Cause, in Episode 12. If you want to book a consultation to discuss your specific situation, you can schedule an appointment at https://bookingbowens.as.me/schedule.php. This is on the website for Bowens Tax Solutions. Avoiding the Penalty by Substantiating As Timalyn stated earlier, it may be possible to avoid the Accuracy-Related Penalty, but you have to be able to prove why it shouldn't apply. You need to report everything required, and to be able to explain why something as omitted from the return, or isn't actually required. Beyoncé Knowles-Carter vs. US Tax Court According to public information, for the tax year 2018, her tax return showed a deficiency of $805,850. Per the Internal Revenue Code Section 662a, she was accessed an accuracy-related penalty of $161,170. In 2019, another deficiency of almost $1.5 million. Per the Internal Revenue Code Section 662a, she was accessed an accuracy-related penalty of $288,549. Now, as Timalyn explained in Episode 26, there is a IRS Collection Due Process. You also have the right to appeal an IRS decision, which she covered in Episode 27. Beyoncé deducted $761,455 on her Schedule C7. The IRS disallowed that deduction. She and her advisors will have to prove the deduction was ordinary and necessary. They will also have to substantiate the deduction by showing the expense was actually paid. Timalyn advises you should always keep receipts, because your bank statements may not give the full picture. Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it. After all, back taxes shouldn't ruin your life. As we conclude Episode 28, we encourage you to connect with Timalyn on social media. You'll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms. Remember, Timalyn Bowens is America's Favorite EA and she's here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today's episode. For more information about tax relief options, visit https://www.Bowenstaxsolutions.com/ . If you have any feedback, or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact. Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.
A review of the week's major US international tax-related news. In this edition: IRS will provide transition period for documentation requirements for FTC "single-country exception" – US Tax Court rules IRS lacks authority to assess penalties under Section 6038(b) – US, Germany sign competent authority arrangement on automatic exchange of CbC reports.
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Dr. Jones is a Tax Attorney, Certified Public Accountant, Certified Fraud Examiner, Certified Tax Resolution Specialist, Wife, Mother of 6 and Epic Foodie. She is licensed to practice law in the State of Illinois, the State of Arizona, the US Tax Court and the US Supreme Court. Her practice specializes in saving people from the IRS. She pivoted her focus to include Coaching entrepreneurs to be positioned to write their business story without the IRS playing a role. Legacy planning was not a part of the business story entrepreneurs were writing. Dr. Jones believes she has a professional obligation and social responsibility to ensure that legacy planning is accessible, understood, and executed by entrepreneurs in black and brown communities. https://www.genajones.com/
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Dr. Jones is a Tax Attorney, Certified Public Accountant, Certified Fraud Examiner, Certified Tax Resolution Specialist, Wife, Mother of 6 and Epic Foodie. She is licensed to practice law in the State of Illinois, the State of Arizona, the US Tax Court and the US Supreme Court. Her practice specializes in saving people from the IRS. She pivoted her focus to include Coaching entrepreneurs to be positioned to write their business story without the IRS playing a role. Legacy planning was not a part of the business story entrepreneurs were writing. Dr. Jones believes she has a professional obligation and social responsibility to ensure that legacy planning is accessible, understood, and executed by entrepreneurs in black and brown communities. https://www.genajones.com/
For this episode of our weekly podcast, Talking Tax, we're revisiting interviews with some of the biggest tax policy makers in the news this year. The OECD's two-pillar plan to reshape the global tax framework, the Inflation Reduction Act, and getting the court system back to a sense of normalcy amid the pandemic were among the biggest tax stories this year. Kathleen Kerrigan, the new chief judge of the US Tax Court, talks about pushing for more electronic filing of petitions and other challenges. Richard Jones, chairman of the Financial Accounting Standards Board, talks about the new work on his plate as a result of the Inflation Reduction Act. And Pascal Saint-Amans, chief of the OECD's Centre for Tax Policy and Administration until late this year, talks about his decade-plus work revamping global tax rules and some of the organization's under-the-radar initiatives. Saint-Amans is now a partner at Brunswick Group and a professor at Lausanne University. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
In this episode, our guest is Charles Read. As the founder and CEO of GetPayroll, Charles has provided full-service payroll and payroll tax services in Lewisville, Texas, since 1991. Only 86 people in the past 16 years have passed the US Tax Court Non-Attorney Practitioners Examination, allowing him to represent clients in the US Tax Court without becoming an attorney. In today's talk, Charles tells us about his business path and how he handles payroll. Stay tuned! About the Guest [00:35] Charles is a native Iowan who hails from the Midwest. Because he wasn't ready to go to college, he enlisted in the Marines and served for four years. Later, he discovered that military expertise didn't work well in the commercial world. So he went to college, obtained his degrees, and entered the business world. Corporate World [02:13] Upon joining Texas Instruments, he discovered that he was one of many new hires and that his academic accomplishments and college degrees were insignificant in the corporate world. Charles worked for a few different companies before beginning his own. Charles' Business [05:17] To help the company continue, Charles bought it from a friend and redesigned it with his friend's support. For the first ten years, he realized that there is no such thing as work-life balance for entrepreneurs and that you need a supportive spouse to help you through this difficult time. Mindset [09:54] Entrepreneurship requires a certain mindset; not everyone is cut out for it. Some people aspire to work for the government or have secure employment. But with Charles' experience in Marine Corps and his family having a business, he grew up to adapt and conquer any conditions, which are the skills needed in the business world. Payroll [13:03] Charles' business was initially an accounting firm with a payroll sideline. Later, he sold his accounting practice to his partner while continuing to handle payroll. Charles owns a payroll service firm that offers payroll services to small and medium-sized businesses across the country. [18:49] One of the most common blunders in the payroll sector is failing to outsource payroll services. Another is paying workers under the table or as independent contractors when they are employees. Learn more about Charles Read and The Payroll Book at: https://thepayrollbook.com/ https://www.facebook.com/GetPayroll/ https://twitter.com/getpayroll https://www.linkedin.com/company/getpayroll/ https://www.instagram.com/getpayroll/ https://www.youtube.com/channel/UCxs-_RwC9NgfUcqbwvEaMIQ Cool Freebies For You:
In this episode, I interview Charles Read the President, and CEO of Get Payroll based in Dallas Texas, United States. Charles has set up his own business to provide easy-to-use professional payroll services at competitive prices to businesses nationwide. With over 30 years of experience in payroll services, Charles has decided to build his own business to pursue bigger opportunities. Get Payroll was established in 2014 and has been running for over 8 years. Became the first payroll company to offer crypto payroll with over a million dollars in annual revenue, 1000 clients, and 12 FTEs. Charles has said that growing a small business requires cultivating leadership in order to understand how to hire, supervise and motivate people. So he says, “You need to be organized in your responsibilities because you can't do everything yourself.” This Cast Covers: Providing payroll services for small and medium-sized businesses across the United States The most significant unique selling proposition is compliance. An employment tax expert, US Tax Court practitioner, and CPA and chartered accountant. Bringing a level of compliance that competitors just don't bring. Learning how to grow by hiring expertise. With over a million dollars in annual revenue and over 1000 clients. From 15 years in corporate, now growing his own business for over 31 years. Learning how to grow your business by having a job. Helping entrepreneurs understand the importance of cultivating leadership. Advice to start and grow a small business consistently. Links: Charles Linkedin Charles Twitter Additional Resources: Get Payroll The E-Myth Revisited Small Businesses by Michael Gerber Quotes: “Success is being happy and content and enjoying what you do.” —Charles Read “You have to learn to work on your business.” —Charles Read “The real change an entrepreneur has to make is going from having a job.” —Charles Read “You need to understand how to hire, supervise, and motivate people because you can't do it yourself.” —Charles Read “Know your culture, understand what you do and what you want from people.” —Charles Read Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod https://incompetech.com. License: CC by http://creativecommons.org/licenses/by/4.0
monthly review of US international tax-related developments. In this edition: President Biden signs Inflation Reduction Act with 15% corporate minimum tax – Inflation Reduction Act includes 1% stock buyback excise tax – Congress passes $280 billion Chips and Science Act – Applicability date for FX regs under Section 987 extended again – IRS announces delay in effective date of Section 871(m) regulations – IRS Notice 2022-36 penalty relief applies to certain international tax information returns – US Tax Court increases Medtronic royalty rate under unspecified TP method – Increased IRS funding from Inflation Reduction Act may increase transfer pricing scrutiny – OECD releases 2022 update on peer review of preferential tax regimes and no or only nominal tax jurisdictions.
A review of the week's major US international tax-related news. In this edition: IRS to delay effective date for aspects of Section 871(m) regulations, further extend transition relief – IRS extends deadline for unfiled 2019 and 2020 returns, penalty relief for certain 2019 and 2020 returns – US Tax Court increases Medtronic royalty rate under unspecified TP method.
Kathleen Kerrigan is stepping into her new role as the US Tax Court's chief judge with an overarching goal to help the court in living with the Covid-19 pandemic. Kerrigan says her work will include moving to more in-person trials while still maintaining flexibility. In addition, she hopes to increase electronic filing now that DAWSON—the case management system launched by the court in late 2020—makes that possible. On this week's Talking Tax, Kerrigan also spoke about access to Tax Court records, avenues to advance or resolve cases pre-trial, and work by the court to promote diversity and equity. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
Today's Episode “Two Certainties: Death & Taxes” featuring our special guest Charles Read. Our guest is an accomplished senior executive and entrepreneur with more than 50-years of financial leadership experience in a broad range of industries, as well as a licensed Certified Public Accountant (CPA). He is one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. In addition, he was recently appointed to the Internal Revenue Service Advisory Council (IRSAC), as one of only seven members chosen nationwide to serve on the prestigious committee in 2018 for a three-year term. Charles is not the typical CPA. He leverages his education, experience, and hard-earned wisdom to connect with individuals at every level within an organization. He creates impactful change as an advisor and solutions architect to resolve business-related challenges brought on by disruptive market forces and inefficient organizational planning. With a wealth of expertise as a CEO, CFO, COO, teacher, and consultant working in domestic and international markets, Charles is able to intuitively understand what a business needs to succeed and assist with laying out a strategic roadmap to accomplish that vision.Take a listen and enjoy. Sponsor(s) Promotional Links: The Tactical Brotherhood Referral Link: https://www.thetacticalbrotherhood.com/?rfsn=5774569.66590c&utm_source=refersion&utm_medium=affiliate&utm_campaign=5774569.66590c Promo Code: Patriot15 at Checkout The singular place to find guns, gear and ammo. If you've got a Made In America product, shoot us a note at support@tacticalbrotherhood.com Ridgewood Recording Studios' desire to capture what God has put in your heart as an artist so that He gets the glory for the dedication, talent and commitment you've put into your music. Reach out to us at https://timothydavis.org/ridgewood-studios or email us at https://timothydavis.org/contact Publicist Steven Joiner's primary goal is to match each client with the best podcast(s) for their needs. He can be contacted at 1-816-605-4561 or via email at Stevesjnetwork@gmail.com --- Send in a voice message: https://anchor.fm/worldofwalley/message Support this podcast: https://anchor.fm/worldofwalley/support
Doug McHoney (PwC's US International Tax Services Co-Leader) is joined by PwC Value Chain Transformation Specialist Tom Quinn. They discuss the Sixth Circuit Court of Appeals ruling to uphold the US Tax Court's May 5, 2020 decision, and concluded that a CFC's income ‘attributable to' a branch, in this case a manufacturing branch, per se is foreign based company sales income (FBCSI) under the statute if a ‘substantial tax deferral effect' is found. They specifically discuss the Maquilladora structure, FBCSI, a ‘substantial tax-deferral effect', the Court's interpretation of the branch rule, and future implications for other taxpayers.Note: Since the recording of this podcast, the US Court of Appeals for the Sixth Circuit denied Whirlpool's request for a rehearing. Whirlpool has 90 days from March 2, 2022, to petition for certiorari with the US Supreme Court.
Welcome to the 74th episode of the Give A Heck Podcast! Join Dwight Heck and his guest, Charles Read, as they chat about going the extra mile without giving up. Charles has 50 years of financial leadership experience on top of being a CPA. He is also a decorated US Marine Corps sergeant, a Vietnam War combat veteran, and the author of three e-books in finance. In this episode, he tells how to strive hard in life from his perspective. In this episode, you'll learn about: ● How reading is important in childhood to learn things ● Experiences in the military getting credentials ● Advice for veterans on finding purpose ● Where Charles got guidance never to give up ● What ties together Charles' professional background ● And much more! ~ About Charles Read: Charles Read has 50 years of financial leadership experience in a broad range of industries and is a licensed Certified Public Accountant (CPA). Charles' background stretches across accounting, tax, manufacturing, construction, information technology, marketing, transportation, logistics, human resources, wholesale distribution, insurance, credit, and more. He has held Series 7 and 66 Securities licenses. He is also one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. He is a decorated United States Marine Corps sergeant, a combat veteran of the Vietnam War, a twenty-year member of the Rotary Club of Dallas, a member of the club's Board of Directors, eleven years as Treasurer, and Chairman of the Rotary Club of Dallas Foundation. Charles is the author of three e-books: Starting a New Business: Accounting, Finance, Payroll, and Tax Considerations, Small Business Short Course (Employees Book 1), and The Little Black Book of the Beauty Biz, Volume 1. as well as numerous articles and blogs. ~ You can find Charles Read on… Website: https://getpayroll.com/ Facebook: https://www.facebook.com/GetPayroll/ Twitter: https://twitter.com/getpayroll LinkedIn: https://www.linkedin.com/company/getpayroll/ YouTube: https://www.youtube.com/channel/UCxs-_RwC9NgfUcqbwvEaMIQ ~ Connect with Dwight Heck! Website: https://giveaheck.com Instagram: https://www.instagram.com/give.a.heck Facebook: https://www.facebook.com/dwight.heck Facebook Group: https://www.facebook.com/groups/Giveaheck Youtube: https://www.youtube.com/channel/UCF0i LinkedIn: https://www.linkedin.com/in/dwight-raymond-heck-65a90150/
Intellectual property is one of the key drivers of profitability for a multinational company. Because IP is inherently mobile, tax planning for IP routinely involves intercompany licensing, cost sharing and other co-ownership structures. Moving IP in connection with a tax planning strategy can generate significant bottom line value, but doing so, without the coordination of IP and Tax expertise creates significant risks. These issues are also a critical part of any merger, acquisition, reorganization, or joint venture. Whenever a transaction includes either the acquisition or the migration of IP assets, it often results in inter–affiliate decisions that implicate both tax and IP issues. The failure to address both the tax and the IP issues can result in harm to the company. If not done properly, a company may not have standing to sue to recover lost profits or obtain an injunction. In addition to these IP risks, cross-border IP structures come with enhanced audit risk, as demonstrated by recent US Tax Court cases where the interplay between tax and IP is often integral to the outcome. Please join Mayer Brown Intellectual Property partner James R. Ferguson and Tax partners Jenny Austin and Michael Lebovitz as they discuss the crucial considerations and best practices for these transactions, answering questions such as: How can a company optimize its tax position through the placement of its IP assets? What transfer pricing issues arise when a company migrates the ownership of its patents from one jurisdiction to another? How does cost sharing affect the tax treatment of IP assets developed by joint ventures? What tax disputes are currently being raised concerning ownership of IP assets? What patent enforcement issues can arise when a company migrates the ownership of its IP assets from one jurisdiction to another? How can a company best design its inter-affiliate licensing structure to protect the enforcement options for its patent portfolio? How should patent-owning companies draft employee agreements to ensure corporate ownership of all future inventions?
In this episode, Paul Dio and Charles Read talk about removing Ego, going into business with his wife, and his thoughts on leadership. About Charles Charles Read founder of GETPAYROLL is an accomplished senior executive and entrepreneur with more than 50-years of financial leadership experience in a broad range of industries, as well as a licensed Certified Public Accountant (CPA). Background & Experience His extensive background stretches across many specialities He is one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. In addition, he was recently appointed to the Internal Revenue Service Advisory Council (IRSAC), as one of only seven members chosen nationwide to serve on the prestigious committee in 2018 for a three-year term.Charles is not the typical CPA. He leverages his education, experience, and hard-earned wisdom to connect with individuals at every level within an organization. He creates impactful change as an advisor and solutions architect to resolve business-related challenges brought on by disruptive market forces and inefficient organizational planning. With a wealth of expertise as a CEO, CFO, COO, teacher, and consultant working in domestic and international markets, Charles is able to intuitively understand what a business needs to succeed and assist with laying out a strategic roadmap to accomplish that vision www.getpayroll.com
He has 50 years of financial leadership experience in a broad range of industries, including being a licensed Certified Public Accountant. His background stretches across accounting, tax, manufacturing, construction, information technology, marketing, transportation, logistics, human resources, wholesale distribution, insurance, credit, and more. He has held his series seven and 6366 licenses. And one of the most interesting things that I found is he's one of only 86 people in the last 16 years to pass the US Tax Court, non-attorney practitioners examination, which enables him to represent clients in the US Tax Court without being an attorney.In our conversation, we discussed:What if the stepped-up basis is taken away?Tax without being an attorneyTax Laws and the Incentive for Business OwnersConnect with Charles Read:https://www.expertcresecrets.com/episode45Love the show? Subscribe, rate, review, and share!Here's How »Join the Expert CRE Community today:expertCREsecrets.comeXpert CRE Secrets FacebookeXpert CRE Secrets Youtube
He has 50 years of financial leadership experience in a broad range of industries including being a licensed certified public accountant. His background stretches across accounting tax manufacturing, construction, information technology, marketing, transportation, logistics, human resources, wholesale distribution, insurance, credit, and more. He has held his series seven and 6366 licenses. And one of the most interesting things that I found is he's one of only 86 people in the last 16 years to pass the US Tax Court, non-attorney practitioners examination, which enables him to represent clients in the US Tax Court without being an attorney.In our conversation, we discussed:What if the stepped-up basis is taken away?Tax without being an attorneyTax Laws and the Incentive for Business OwnersConnect with Charles Read:https://capitalgainstaxsolutions.com/auto-filings-and-auto-payments-with-charles-read/Love the show? Subscribe, rate, review, and share!Here's How »Join the Capital Gains Tax Solutions Community today:capitalgainstaxsolutions.comCapital Gains Tax Solutions FacebookCapital Gains Tax Solutions Twitter
Charles Read is the President and CEO of GetPayroll a firm that specializes in providing online payroll and payroll tax compliance services in US for 30-years and counting. Charles was previously appointed to the United States Internal Revenue Service Advisory Council (IRSAC), as one of only seven members chosen nationwide to serve on the prestigious committee in 2018 for a three-year term, and he is also one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. In today's episode, Charles's tips include the benefits of hiring a payroll specialist, the common mistakes that entrepreneurs make in relation to payroll, and how one can avoid fraud being committed against their business. Resources:https://getpayroll.com/ - Need a payroll specialist? Why not get in touch with Charles at Get Payrollhttps://thepayrollbook.com/ - For listeners in the United States, Charles will send you a free copy of his new book if you enter the code “TEDTEO” when checking out. Actionable Take-aways:1. Hiring a good payroll specialist can save you money by avoiding hefty financial penalties for late filings or misfilings. 2. Watch out for misclassification risks for your independent contractors. Consult your legal advisor or tax advisor to make sure you are properly classifying them and that are not considered employees. 3. Watch out for potential fraud that may be committed against your business. One way to reduce the occurrence fraud is to avoid using physical cheques and using an electronic direct deposit system for your payroll instead.
765- Mr. Read is a CPA and the Founder and CEO of GetPayroll in Lewisville, TX, where he has provided full-service payroll and payroll tax services since 1991. Get Payroll helps small to medium-sized businesses across the U.S. with direct deposits, debit card loads, printed checks, payroll deposits, reports and tax filings, year-end Forms W-2 and employer-employee website portals. Mr. Read is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries, as well as a licensed CPA. He is one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. In addition to his executive career, Charles is a decorated United States Marine Corps sergeant, a combat veteran of the Vietnam War. While in service, he was trained by IBM as a computer programmer and later a systems engineer. ________ Need help with your business? Marketing, Podcast Mentorship or Content Creation? Stop by and check us out. Go to www.BusinessBros.biz to be a guest on the show or to find out more on how we can help you! --- Support this podcast: https://anchor.fm/businessbrospod/support
Charles Read is a CPA and the Founder and CEO of GetPayroll in Lewisville, TX, where he has provided full-service payroll and payroll tax services since 1991. Mr. Read is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries, as well as a licensed CPA. He is one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. In addition to his executive career, Charles is a decorated United States Marine Corps sergeant, a combat veteran of the Vietnam War. While in service, he was trained by IBM as a computer programmer and later a systems engineer. He is the author of three e-books: Starting a New Business: Accounting, Finance, Payroll, and Tax ConsiderationsSmall Business Short Course (Employees Book 1)The Little Black Book of the Beauty Biz, Volume 1. as well as numerous articles and blogs. His latest book is “The Payroll Book: A Guide for Small Business & Startups" is available on Amazon or on the website: https://www.thepayrollbook.com/ You can find Charles and GetPayroll online at https://www.getpayroll.com/ or connect with him on LinkedIn: https://www.linkedin.com/in/charles-j-read-cpa/
In this episode of Double E, Elevating Entrepreneurs by Elizabeth Marie, I interview Charles J Read of GetPayroll. His company has provided full service payroll services, tax services, and other payroll-related services since 1991! He specializes in small businesses with 50 employees or less, for example, your local hair salon, nail shop, restaurant, etc. He is an experienced entrepreneur and senior executive with more than 50 years of experience in the financial sector and is a 4 time published author. Check out his book, The Payroll Book: A Guide For Small Businesses and Startups on Amazon. It is currently ranked #25 on the Small Business section of Amazon. To learn more about Charles and to connect with him, you can visit getpayroll.com. He is also happy to take any phone calls any small business owners have. In this podcast, we discuss many tips for small business owners with taxes, loans, the IRS, payroll and more. This episode is a production of Flourish Media, SP owned and operated by Elizabeth Marie. --- Support this podcast: https://anchor.fm/elizabeth-marie8/support
Payroll has changed a lot in the last few years, but many businesses aren’t aware of all the changes. This can lead to fines, penalties, and even loss of your business. Charles Read, the author of The Payroll Book, guides us through some of the things businesses should be aware of when it comes to payroll in 2020. In this interview Charles and Lisa will discuss: The importance of understanding all aspects of payroll law. The different aspects of payroll during a pandemic. What to remember with hiring and firing employees. Who is Charles Read? Charles J Read is a Charted Public Accountant (CPA), U.S tax Corp Practitioner ( USTCP), member of the Internal Revenue Service Advisory Council (IRSAC), and the Founder of GetPayroll. Mr. Read’s companies have provided full-service payroll services, payroll tax services, and other payroll-related services since 1991. Charles is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries and author of four books. Charles is one of 86 people in the last 16 years to pass the US Tax Court Non-Attorney Practitioners Examination, which enables him to represent clients in the US Tax Court without being an attorney. Mr. Read’s companies have provided full-service payroll services, payroll tax services, and other payroll-related services since 1991. Charles is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries and author of four books. Get the Freebie: Get 2 Months Free Payroll http://twomonthsfree.getpayroll.com/ How to connect with Charles: GetPayroll: https://getpayroll.com Facebook: http://facebook.com/getpayroll Instagram: https://www.instagram.com/getpayroll/ LinkedIn: https://www.linkedin.com/company/10964861/ YouTube: https://www.youtube.com/channel/UCxs-_RwC9NgfUcqbwvEaMIQ #payroll, #accounting #hr #smallbusiness #cpa #timekeeping #automateyourbusiness #businessunderpressure #irspenalties #whattoknowaboutpayroll #payrollhints #payrolltips ________________ Get Lisa's Freebie!: 200 Facebook Groups that allow Promotion: https://www.teachmetoautomate.com/200spreadsheet Lisa Kempton is the Host of Business Under Pressure and Founder at Sage Peak, LLC. There she helps businesses save time and money through creating systems and processes and automating those processes. Basically, she helps businesses put everyday tasks on autopilot. Connect with Lisa Website: https://sage-peak.com/ Podcast: https://podcasts.apple.com/us/podcast/business-under-pressure/id1508589007 Facebook Group: https://www.facebook.com/groups/successdrivenentrepreneurs Instagram: https://www.instagram.com/lisakkempton/ LinkedIn: https://www.linkedin.com/in/lisakkempton/
ValuationPodcast.com - A podcast about all things Business + Valuation.
Hi Welcome to ValuationPodcast.com - A podcast and video series about all things related to business and valuation. My name is Melissa Gragg, a business valuation expert in St. Louis Missouri. Today I have the privilege to interview Baria Jaroudi, an accountant and valuation expert in Houston, Texas. We are going to discuss US Tax Court Cases & Valuation Issues in a few recent cases: Estate of Jones v. Commissioner and Pierson Grieve v. Commissioner, as well as Kress v. United States. Welcome Baria!! So we both are current instructors in a course for recertification, created by NACVA and called Current Updates in Valuations or CUV for short, and part of the presentation is providing updates on recent court cases. Let's start with Kress v. United States - what makes the Kress case important in the valuation community? What are some other important valuation issues in the Kress case?What do you see as the main take aways from Kress?Now, let's discuss the Estate of Jones v. Commissioner case, what is specific valuation issues are handled in Jones? What do you see as the main take away from Jones? How about Grieve v. Commissioner? What are the valuation issues handled in Grieve?What do you see as the main points for the Greive case? Melissa Gragg CVA, MAFF, CDFA Expert testimony for financial and valuation issues Bridge Valuation Partners, LLC melissa@bridgevaluation.com http://www.BridgeValuation.com http://www.ValuationPodcast.com http://www.MediatorPodcast.com Cell: (314) 541-8163 Baria Jaroudi CPA/ABV, CVA, CBA FVLS Senior Manager BJaroudi@BVCCPA.COM main: 713‑667‑9147 fax: 713-667-1697 Nine Greenway Plaza, Suite 1700 Houston, TX 77046 Support the show (http://valuationpodcast.com)
Dee Dee Stone is an experienced tax strategist for small to mid-size businesses, author, and public speaker. She holds both her bachelor’s and master’s degrees in accounting and has a diverse background in both public and corporate accounting. Before starting her firm in 2006, Dee Dee worked for the dark side as an IRS auditor in the small business self-employed division in Dallas, TX. She now navigates tax laws to create money-saving strategies for business owners. In 2017, she successfully petitioned and won a US Tax Court hearing saving a client tens of thousands of dollars. Dee Dee has a passion for educating and frequently speaks to groups of independent commissioned salespeople, including realtors, insurance agents, and independent distributors.
Listen is as I chat with Charles Read about his beginnings in the entrepreneur world and how GetPayroll was created. This decorated combat veteran served in the Vietnam War, is a CPA, and can represent his clients in the US Tax Court. Charles has written several books and is currently writing another one due to come out in July of 2020. He has appeared on Fox Business News along with other media outlets, and he continues to be in the field with both his clients and employees. You will love his energy, his wisdom, and his love for continuing to learn.
Mr. Read is a CPA and the Founder and CEO of Get Payroll in Lewisville, TX, where he has provided full service payroll and payroll tax services since 1991. Get Payroll helps small to medium-sized businesses across the U.S. with direct deposits, debit card loads, printed checks, payroll deposits, reports and tax filings, year-end Forms W-2 and employer-employee website portals. Mr Read is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries, as well as a licensed CPA. In addition, he is also an US Tax Court Non-Attorney Practitioner which enables him to represent clients in the US Tax Court without being an attorney. He is the author of three e-books: Starting a New Business: Accounting, Finance, Payroll, and Tax Considerations, Small Business Short Course (Employees Book 1) and The Little Black Book of the Beauty Biz, Volume 1. Mr. Read's newest book "Payroll for Small Business and Startups" will be published by John Wiley & Sons in the summer of 2020. Mr. Read is an accomplished speaker and has been featured on Fox Business News, Biz TV Texas, New York City Wired, Dallas Innovates and many more. In addition to his executive career, Mr. Read is a decorated United States Marine Corps sergeant, and a combat veteran of the Vietnam War.
Mr. Read is a CPA and the Founder and CEO of Get Payroll in Lewisville, TX, where he has provided full service payroll and payroll tax services since 1991. Get Payroll helps small to medium-sized businesses across the U.S. with direct deposits, debit card loads, printed checks, payroll deposits, reports and tax filings, year-end Forms W-2 and employer-employee website portals. Mr Read is an accomplished senior executive and entrepreneur with more than fifty years of financial leadership experience in a broad range of industries, as well as a licensed CPA. In addition, he is also an US Tax Court Non-Attorney Practitioner which enables him to represent clients in the US Tax Court without being an attorney. He is the author of three e-books: Starting a New Business: Accounting, Finance, Payroll, and Tax Considerations, Small Business Short Course (Employees Book 1) and The Little Black Book of the Beauty Biz, Volume 1. Mr. Read's newest book "Payroll for Small Business and Startups" will be published by John Wiley & Sons in the summer of 2020. Mr. Read is an accomplished speaker and has been featured on Fox Business News, Biz TV Texas, New York City Wired, Dallas Innovates and many more. In addition to his executive career, Mr. Read is a decorated United States Marine Corps sergeant, and a combat veteran of the Vietnam War.
This Week In Marijuana Business News for the week ended Oct. 25, 2019, with host Nick Thomas. Headlines include: MJBizDaily leadership change: Co-founder Farrington stepping down as CEO; Walsh to take reins Mexico’s draft cannabis legalization law would limit foreign investment, ban vertical integration Marijuana producer Hexo delays earnings release, announces CA$70 million private placement Cannabis vaporizer company Pax Labs cuts 25% of workers after missing revenue projections Cannabis firm Harborside owes $11 million under 280E, US Tax Court rules Green Growth Brands hoping for holiday boost after widening losses, layoffs Subscribe to both of our podcasts on iTunes, Stitcher and here on our site!
Marijuana Today Daily Headlines Tuesday, October 22, 2019 | Curated by host Shea Gunther // Mass. governor on timeline to ensure nicotine vape ban complies with law (Mass Live) // Cannabis firm Harborside owes $11 million under 280E, US Tax Court rules (Marijuana Business Daily) // Cannabis vaporizer company Pax Labs cuts 25% of workers […]
Marijuana Today Daily Headlines Tuesday, October 22, 2019 | Curated by host Shea Gunther // Mass. governor on timeline to ensure nicotine vape ban complies with law (Mass Live) // Cannabis firm Harborside owes $11 million under 280E, US Tax Court rules (Marijuana Business Daily) // Cannabis vaporizer company Pax Labs cuts 25% of workers […]
If you've paid attention to what's going on in the cannabis industry, you'll have noticed a number of decisions that have been handed down from the US Tax Court regarding how cannabis companies are improperly managing their tax strategies. Due to 280E, cannabis companies are extremely limited in terms of what they can deduct from their taxes. Because of these limitations, taxes are a much heavier burden on cannabis companies than most typical businesses and start to eat away at profit margins. There are legal ways to properly minimize tax liabilities for cannabis companies, but most unspecialized or untrained accounting professionals aren't aware of them and can potentially get their clients into tax trouble. Every entity is different and must apply the rules in different ways, using different strategies. Here are a few strategies that we use to support our clients and share with our community of cannabis accounting professionals. --- Send in a voice message: https://anchor.fm/dopecfo/message
A review of the week's major US international tax-related news. In this edition: US Senate Foreign Relations Committee to vote on protocols to US tax treaties with Switzerland, Luxembourg, Spain, and Japan on 25 June 2019 – US releases final GILTI regulations – IRS temporary and proposed DRD regulations reflect GILTI-centric view of international tax rules – Ninth Circuit reverses US Tax Court in Altera v. Commissioner – US, Cyprus negotiating CA agreement to exchange CbC reports
This Week In Marijuana Business News for the week ended Dec. 7, 2018, with host Jill Reddish. US Tax Court says 280 still applies to marijuana Falsified California testing lab data may result in major marijuana product recall ‘It’s a game changer’: Ontario company prepares Canada’s first outdoor cannabis crop California cannabis vape cartridge makers facing counterfeit products hurdle Iowa opens medical CBD sales Saturday under cloud of confusion Final California marijuana industry rules may not be made public until January Chart: Where does California’s recreational marijuana supply come from? Weekly Deal Watch: Investor bets on US cannabis firms continue to climb Marijuana Business Magazine: Growing Ambition: Companies leverage capital, partnerships and diversification to expand beyond state lines Sponsored by: Citizen Green Community Subscribe to both of our podcasts on iTunes, Stitcher and here on our site!
Navigating the rules and procedures of U.S. Tax Court is like trying to navigate the maze in the annual Triwizard Tournament at Hogwart’s School of Witchcraft and Wizardry. For those unfamiliar with the Triwizard Maze, it was populated by various obstacles and dangers that each Champion had to overcome. The first wizard to successfully navigate the maze and reach the Cup would be declared the winner. This podcast will highlight some of the dangers and pitfalls to avoid while navigating the largely self-governing Article I court.
A review of the week's major US international tax-related news. In this edition: Trump Administration releases tax reform plan -- President Trump signs Executive Order to review significant tax regulations issued since 1 January 2016 – US Tax Court rules modification of variable prepaid forward contracts does not trigger gain realization – IRS files notice of appeal in Medtronic transfer pricing case.
Congress turns to tax reform after ACA repeal fails in House – Trump Administration issues FY 2018 ‘skinny budget’ – US Tax Court upholds Amazon subsidiary's transfer pricing buy-in payment – IRS finalizes competent authority agreements for CbC reporting – IRS to resume issuing ‘sub-regulatory’ guidance – OECD official offers insights on upcoming profit split, PE profit attribution drafts – OECD, IMF deliver report addressing tax certainty.
A review of the week's major US international tax-related news. In this edition: TUS House Ways and Means Committee Chairman expects Blueprint’s border adjustability proposal will be included in US tax reform; but with phase-in and modifications – IRS to resume issuing “sub-regulatory” guidance – US Tax Court rules for Amazon.com, Inc., in transfer pricing cost sharing case – Country-by-Country Reporting update.
A review of the week's major US international tax-related news. In this edition: US Senate Finance Committee Democrats to target corporate inversions – US, EU continue dispute over EU state aid investigations – G-20 to promote tax certainty in wake of BEPS project -- Treasury ponders further changes to Proposed Section 385 debt/equity regulations – US Tax Court holds for taxpayer in nearly $1.36 billion transfer pricing case.
OECD releases base erosion and profit shifting (BEPS) action plan -- OECD releases revised Discussion Draft on the Transfer Pricing Aspects of Intangibles -- OECD White Paper on Transfer Pricing Documentation issued -- President Obama resumes call for business tax reform -- IRS revises FATCA timelines, provides other guidance -- IRS releases updated Model 1 and Model 2 FATCA IGAs -- IRS will cease granting rulings to early adopt 2006 Section 987 proposed regulations -- CTB regs to add Croatian Dionicko Drustvo to per se list corporations -- US Tax Court has jurisdiction to review cancellation of APAs under abuse of discretion standard
A review of the week's major US international tax-related news. In this edition: Senate tax leaders favor "clean slate" approach to tax reform, FATCA developments, US Tax Court has jurisdiction to review APA cancellation, and US government opposes public disclosure of country-by-country tax reporting.
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