Schedules K-2 and K-3 draft instructions for tax year 2022
Authored By RSM US LLP
Pass-through entities and partners alike should understand the compliance changes associated with the IRS’s recent release of updated draft Schedules K-2 and K-3.
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The annual tax policy cycle and current state of play
Authored By RSM US LLP
This annual timeline highlights milestones in the legislative cycle and details the latest state of play for each as they come into view.
10 smart moves for real estate investors and operators at year’s end
Authored By RSM US LLP
As we close the books on 2022, RSM’s real estate senior analyst Scott Helberg shares 10 important year-end resolutions for real estate investors to consider
IRS makes statements on CARES Act Employee Retention Tax Credit risks
Authored By RSM US LLP
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
IRS Releases 2023 Tax Inflation Adjustments
Authored By RSM US LLP
IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code.
Applying the Percentage of Completion Method in M&A Transactions
Authored By RSM US LLP
The tax treatment of contracts using the percentage of completion method in M&A transactions from the buyer and seller side.
Avoid These Common Pitfalls When Establishing a Retirement Plan
Authored By RSM US LLP
When establishing a retirement plan, be sure to avoid common missteps when setting up your company’s retirement plan.
State and Local Tax Considerations When Building Supply Chain Resilience
Authored By RSM US LLP
Consider state and local tax ramifications, such as nexus and filing requirements, when relocating supply chain components to build resilience.
10 Issues That Affect Wealth Preservation And What You Can Do About Them
Authored By RSM US LLP
Wealth preservation issues and strategies for multigenerational wealth; how to prioritize grantor intent for future generations while minimizing taxes and reducing conflict.
Key State and Local Tax Considerations During Sell-Side Due Diligence
Authored By RSM US LLP
The nature of sell-side tax due diligence continues to evolve. Learn more about important state and local tax considerations before selling a business.
Taxes and The Inflation Reduction Act: What Middle Market Businesses Should Know?
Authored By RSM US LLP
Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
Estate Planning and Income Tax: Key Considerations and Planning Points
Authored By RSM US LLP
You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
Multigenerational Wealth Planning: A Guide to Do’s and Don’ts
Authored By RSM US LLP
Estate succession planning guide for multigenerational wealth and prioritizing grantor intent
Retirement Plan Amendment Deadlines Extended
Authored By RSM US LLP
The IRS extended the due dates for plan sponsors to incorporate required amendments under the SECURE, CARES, and Miners Acts. Plan sponsors should review these deadlines with their service providers.
Nonprofits: Guide To Reporting In-Kind Donations
Authored By Tony Smith
Securing in-kind donations is vital for any nonprofit or charitable organization, but just as important is accounting for them properly. Learn about properly reporting financial and nonfinancial donations in your financial statements.
Pass-Through Entity Elections Are Here to Stay: What You Need To Know?
Authored By RSM US LLP
Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.
Relocating Supply Chain Components Includes Significant Tax Implications
Authored By RSM US LLP
Understanding tax implications of supply chain disruptions
5 Ways Nonprofits Can Stay Agile
Authored By RSM US LLP
To stay nimble, nonprofit organizations should examine these five areas to enhance their ability to adapt to change.
Income tax, Charitable, and Estate Planning for Digital Assets
Authored By RSM US LLP
Considering the income tax, charity and estate planning implications of digital assets, such as crypto, can minimize tax burden, comply with evolving regulations and pursue personal wealth goals.
Ransomware: Protecting Your Business Against Evolving Risks
Authored By RSM US LLP
Ransomware attacks are increasing and threatening organizations of all sizes. The RSM cybersecurity report reveals new ransomware data.
Ransomware-as-a-service: A new business model for cybercriminals
Authored By RSM US LLP
Ransomware-as-a-Service (RaaS) is a new business model for cybercriminals, making cyberattacks easier than ever.
Superfund Excise Tax on Chemicals and Imported Taxable Substances
Authored By GreerWalker
As part of the Infrastructure Investment and Jobs Act signed into law on November 15, 2021, Superfund excise taxes imposed on chemicals and imported taxable products will be reinstated effective July 1, 2022 through December 21, 2031. Manufacturers and importers of chemicals and substances containing chemicals may be liable for federal excise tax. Purchasers of […]
ESG and Supply Chain Trends in Manufacturing
Authored By RSM US LLP
We examine the latest supply chain and ESG trends in manufacturing and discuss what’s ahead for middle market business leaders.
North Carolina Pass Through Entity Tax Update
Authored By GreerWalker
In November 2021, North Carolina enacted Senate Bill 105 which includes a new elective pass-through entity tax (“PTET”) filing options for certain NC companies. This law change allows entities taxed as partnerships or S-corporations to elect to pay an entity level state income tax for taxable years beginning on or after January 1, 2022. Owners […]
Business services trends
Authored By RSM US LLP
We examine the latest business services industry trends and discuss what’s ahead for middle market business leaders.
Construction industry outlook
Authored By RSM US LLP
In our 2022 construction industry outlook, we explore what’s ahead for middle market business leaders.
SAS 136: Changes to the auditor’s report
Authored By RSM US LLP
For employee benefit plans subject to ERISA, Statement on Auditing Standards No. 136 changes the look of the auditor’s report.
SAS 136: The Communication of Reportable Findings
Authored By RSM US LLP
SAS 136 includes requirements to communicate reportable findings identified as a result of testing relevant plan provisions.
North Carolina Business Recovery Grant Phase 2 Now Open
Authored By GreerWalker
The announcement of Phase 2 of this grant also includes the ability for companies that previously received federal or NC financial hardship incentives to participate. Phase 1 of the program (which closed a few months ago) prevented companies which had received a PPP loan, NC Job Retention Grant, or EIDL advance from qualifying for this […]
SAS 136: The ERISA Section 103(a)(3)(C) Audit Election
Authored By RSM US LLP
Plan administrators should consider all implications of an ERISA Section 103(a)(3)(C) election before the election is made.
Inflation and The Middle Market
Authored By RSM US LLP
The economic growth and emboldened labor market of the past year require a different policy response than the previous two business cycles.
Manage Supply Chain Disruption with Inventory Optimization
Authored By RSM US LLP
RSM can help manufacturers make the most of limited inventories with inventory optimization strategies. Read more.
Congress Open to Considering a Pause on Automated Tax Notices
Authored By RSM US LLP
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
North Carolina Budget Cuts Income Taxes, Adopts SALT Workaround
Authored By RSM US LLP
Budget law reduces taxes for both businesses and individuals with rate cuts; adopts a state and local tax deduction workaround.
Build Back Better Act – Key International Tax Provisions
Authored By RSM US LLP
A revised version of the Build Back Better Act released by the House includes sweeping changes to the U.S. international tax system.
Financial Institutions and the Phase Out of LIBOR
Authored By RSM US LLP
We have updated our white paper regarding the fundamentals of LIBOR phase out and transition for financial institutions.
Opportunity Zone Investors Should Consider State and Local Tax Credits
Authored By RSM US LLP
Companies may be able to realize additional tax savings through state tax credits and other incentive programs.
Nine Reasons Your Property Tax Assessment May Not Be Correct
Authored By RSM US LLP
Real estate and business personal property taxes, together, are one of the largest generators of state and local tax revenue.
Boom Times in Private Equity
Authored By RSM US LLP
Private equity deal activity is on pace for its best year on record, and deal activity in the middle market leads the way.
Strategies for Streamlining the Grant Management Process
Authored By RSM US LLP
Careful grant management planning can help organizations reduce paperwork, save time, ensure compliance and lead to increased grant awards.
Choosing the Family Office Structure that Helps your Family’s Goals
Authored By RSM US LLP
When aligning your preferences with 1 of 3 main structural forms, a family office will position itself to succeed for many years to come.
How Manufacturers Can Compete for Talent in a Tech Centric World
Authored By RSM US LLP
Companies need to embrace digital tools, understand demographic shifts in the workforce and develop intentional succession planning.
Missing Participants in a Retirement Plan
Authored By RSM US LLP
A retirement plan is required to maintain contact information for participants and beneficiaries who are owed a benefit under the plan.
Cybercrime Risk: Top Middle Market Vulnerabilities
Authored By RSM US LLP
Cybercrime is still on the rise. Here are key statistics from RSM’s 2021 Middle Market Business Index Cybersecurity Report.
Supply Chain Strategy
Authored By RSM US LLP
Learn lessons from the pandemic to build a stronger supply chain strategy to face disruptions and challenges. Read now.
North Carolina Tax Reform: Big, Bold and Controversial
Authored By RSM US LLP
North Carolina Senate pushes forward major tax reform bill, continuing down the path to repeal the state’s corporate income tax.
South Carolina enacts SALT deduction workaround
Authored By RSM US LLP
South Carolina becomes the latest state to enact a state and local tax deduction limitation workaround joining at least a dozen others.