While failing to plan may be the the most common mistake in estate planning, creating a plan that is too complex or inflexible can create problems as well. In a recent article, Tim Agnew, Managing Director of Smith & Howard Wealth Management discussed five common estate planning mistakes he encounters. Check out his article to find out the other three and see if it might be helpful to discuss your estate plan with one of our professionals.
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Topics: estate planning, estate planning mistakes, Tax, Uncategorized
Regulators Extend Tax Probe to All European Union States
Posted by celliott on Jan 30, 2015 1:08:39 PM
European Union (EU) antitrust regulators have asked all 28 member countries for information on tax arrangements they made with multinational companies between 2010 and 2013.
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Topics: European Union, International Tax, Tax, Uncategorized
The Internal Revenue Service (IRS) released revised Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities (http://www.irs.gov/pub/irs-pdf/p515.pdf). Although the publication is primarily for use in 2015, it also includes information relevant to 2014.
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Topics: FATCA, FIRPTA, International Tax, IRS, Tax, Uncategorized, Withholding Tax
The European Union's (EU's) Taxation and Customs Union Directorate General published a new guide on EU member states' policies on value-added tax (VAT) refunds for visitors. It can be found at http://ec.europa.eu/taxation_customs/common/travellers/leave_eu/vat_refund_index_en.htm.
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Topics: European Union, International Tax, Tax, Uncategorized, VAT
Many software businesses may be able to take advantage of the Section 199 Deductions for Domestic Production Activities but are not doing so.
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Topics: Section 199 Deductions, technology, Domestic Production Activities Deduction, Software, Tax, Uncategorized
An investment in commercial real estate, as with any investment, is a bet on future events and circumstances. Since the value of the acquired property can change if its location's demographics and economy shift over time. That's why it is critical to determine at the start of your search how much and where to invest in order to hedge your real estate bet. There are certain basic factors that real estate investors generally consider when assessing the viability of an investment in a specific property or region. A proper assessment of these factors will result in a determination of where to invest and what type of property to invest in.
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Topics: Commercial Real Estate, Investment Decision, Market Saturation, real estate, Tax, Uncategorized, Urbanization
Singapore, Bulgaria, the Turks and Caicos Islands, and Moldova are the latest jurisdictions to sign intergovernmental agreements under the Foreign Account Tax Compliance Act (FATCA), which became law in March 2010. Below is a list of FATCA jurisdictions, along with the dates they signed. Note: There are additional jurisdictions with agreements in substance.
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Topics: FATCA, International Tax, Jurisdictions, Model 1 IGA, Model 2 IGA, Tax, Uncategorized
Financial organizations expect to exceed their original budget for compliance under the Foreign Account Tax Compliance Act (FATCA), according to a survey by Thomson Reuters.
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Topics: Compliance, FATCA, International Tax, Tax, Uncategorized
EU Finance Ministers Approve Anti-abuse Clause in Parent-Subsidiary Directive
Posted by celliott on Jan 7, 2015 11:30:12 AM
European Union finance ministers approved changes to the bloc’s Parent-Subsidiary Directive, which introduces a new general antiabuse rule to reduce tax avoidance by corporate groups.
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Topics: European Union, International Tax, Parent-Subsidiary Directive, Tax, Tax Avoidance, Uncategorized
China Vows to Toughen Stance on Tax Avoidance by Foreign Companies
Posted by celliott on Jan 7, 2015 11:24:51 AM
Chinese tax authorities have pledged to step up efforts to crack down on tax avoidance by foreign companies, after the nation levied almost $140 million in back taxes from Microsoft.
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Topics: BEPS, China, International Tax, Tax, Tax Evasion, Uncategorized