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Although Mexico’s budget for 2019, which entered into effect as of January 1, 2019 does not include any new taxes, there are some changes that should be kept in mind during this fiscal year such as: Elimination of universal offset One of the most significant changes included in the 2019 tax reform is the elimination…

One of the most talked about changes under the Tax Cuts and Jobs Act is the new 20% deduction afforded to qualifying businesses. This deduction applies to income from pass-through entities and may provide a substantial tax benefit to individuals that qualify for the deduction. What exactly is the pass-through business income deduction? The deduction…

Global Intangible Low Tax Income Global Low Tax Intangible Income (GILTI) is a new tax regime under the Tax Cuts and Jobs Act (TCJA). Under this regime, United States Shareholders of Controlled Foreign Corporations (CFC) will potentially have an income inclusion based on the net earnings and profits of the CFC, less a few exceptions,…

1) Owners of pass-through entities may get a significant deduction from the new 199A deduction, but it is a complex and time-consuming calculation. This new provision gives eligible businesses up to a 20 percent tax deduction on certain qualified business income. However, the new 199A deduction requires additional reporting for every pass-through entity. Because the deduction…

FOR IMMEDIATE RELEASE Tucson, AZ— October 5, 2018 — R&A CPAs, announced today that it has been named to the 2018 INSIDE Public Accounting (IPA) Top 400 Firms. This annual ranking gathers surveys and analytical data from firms across the United States. For the most recent fiscal year, IPA Top 301-400 firms range in size…

Good business owners and managers are always hunting for ways to reduce costs without impacting their companies. You may have heard of companies starting their own insurance company but not have considered it a valid option for your company because of its size. Starting an insurance company to cover business risks can be accomplished by…

In an effort to boost the production of U.S. goods, the 2017 Tax Act introduced a Foreign Derived Intangible Income (FDII) deduction for tax years 2018 and beyond. But despite the deduction representing a significant reduction in tax rates, the benefit remains under-utilized. If your corporation exports goods or sells services outside of the U.S.,…

Organization leaders don’t want to think about fraud and risk assessment, but it’s definitely something that they can’t avoid it. Fraud has long disrupted the idea of business as usual. While most employees don’t commit fraudulent acts, companies must implement monitoring and control systems to minimize the risk of fraud. Just like the 1992 version, the…

A business valuation is a formal statement of the full value of a business. It can take into account aspects such as: The company’s potential for revenue generation now and in the future. The company’s tangible assets, including property, equipment, and so on. The company’s intellectual property and other potential for development. The company’s liabilities,…