BILTgroup

"2025 will inevitably be a year of change in the United States, hopefully for the better. We have predicted what we believe will be “in” and “out” in the new year for business, regulation, the economy, and more..." https://lnkd.in/gmbev_Xb #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"President-elect Trump has vowed to impose tariffs immediately after taking office next year. Although many details are still unknown, he has suggested that a blanket tariff will be imposed on?all?imports, with additional tariffs imposed on goods from specific countries in response to economic and noneconomic concerns. This will have an immediate effect on companies’ costs, pricing strategies, and supply chain operations, so a proactive approach to manage and mitigate the risks and challenges presented by increased tariffs is vital..." https://lnkd.in/gahDe4nh #internationallaw #internationaltax #businesslaw #trumptariffs #tariffs #chinatariff #nafta #internationalbusinesslaw #corporatetransparencyact #2025tariffs #tradewars

“Since January 1, 2024, there has been a lot of discussion about the Corporate Transparency Act. Beginning January 1, 2024, the Corporate Transparency Act (CTA) required certain companies to file Beneficial Ownership Information Reports (BOIRs) with the Financial Crimes Enforcement Network (FinCEN). Last week, the U.S. district court for the Eastern District of Texas found the reporting requirements “likely unconstitutional,” stating that the government could not “provide the [c]ourt with any tenable theory that the CTA” was within Congress’s authority…” https://lnkd.in/gynwffcJ #taxlaw #internationaltaxlaw #corporatetransparencyact #beneficialowner #boir #beneficialownershipinformationreporting #irs #businesslaw #internationalbusinesslaw #constitutionallaw

The election is over but take a look at what may be in store for 2025: https://lnkd.in/gq3a8y-E #election #harristaxplan #trumptaxplan #trumptaxcuts #trumptariffs #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"...The IRS has been given too much power, and its customer service is abysmal. Now, with the passage of the Inflation Reduction Act, an estimated 87,000 new IRS agents will be added. Will the 87,000 new IRS agents improve efficiency or merely improve the IRS’ ability to harass ordinary taxpayers?..." https://lnkd.in/g6MRYsjn #irs #internalrevenueservice #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"There are a lot of companies that have popped up recently promoting Employee Retention Credit (“ERC”) refunds, and in a frenzy to get to market, have contacted many companies to harvest ERCs, many times with little to no regard to whether the taxpayer qualifies. In this article, we unpack the rules, which are complex, to help taxpayers understand if they qualify for the ERC..." https://lnkd.in/gA89b7S9 #employeeretentioncredit #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"Although it has been in existence since 1971, the Interest Charge Domestic International Sales Corporation (“IC-DISC”) planning opportunity is often-overlooked. Since IC-DISCs began, IC-DISCs have been upstaged by a host of alphabet tax incentive regimes: Foreign Sales Companies (“FSCs”), Domestic Production (“DPD”), and Foreign Intangible Income (“FIDI”). However, IC-DISCs do something very unique: IC-DISCs perform a type of tax alchemy in that they generate an ordinary deduction, which goes against higher taxed income, and creates dividend income, which is taxed at lower rates. The amount of that tax deductible dividend is based on the sales value of products made in the United States that are exported to markets outside the United States.?So, the IC DISC creates a tax deductible dividend..." https://lnkd.in/gBPFS-DG #icdisc #foreignsalescompanies #domesticproduction #foreignintangibleincome #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"While conventional insurance can cover many types of business risks, e-commerce companies have many daily business risks that cannot be covered by conventional insurance.?As a result, most e-commerce companies are absorbing liabilities on their balance sheets that they cannot see.?Additionally, under most tax law principles, companies cannot deduct estimated reserves because they are not “liabilities in fact”.?This is where captive insurance becomes the solution..." https://lnkd.in/gWv3EjYH #captiveinsurance #ecommerce #ecommerceinsurance #ecommercetaxes #ecommercetaxlaw #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"Although it has been in existence since 1971, the Interest Charge Domestic International Sales Corporation (“IC-DISC”) planning opportunity is often-overlooked. Since IC-DISCs began, IC-DISCs have been upstaged by a host of alphabet tax incentive regimes: Foreign Sales Companies (“FSCs”), Domestic Production (“DPD”), and Foreign Intangible Income (“FIDI”). However, IC-DISCs do something very unique: IC-DISCs perform a type of tax alchemy in that they generate an ordinary deduction, which goes against higher taxed income, and creates dividend income, which is taxed at lower rates. The amount of that tax deductible dividend is based on the sales value of products made in the United States that are exported to markets outside the United States.?So, the IC DISC creates a tax deductible dividend..." https://lnkd.in/gBPFS-DG #icdisc #foreignsalescompanies #domesticproduction #foreignintangibleincome #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?

"Since 1984, the?Chevron?doctrine has granted federal agencies deference in interpreting the laws that give them their authority. In June of 2024, the Supreme Court overturned this long standing-principle and held that federal agency interpretations of law are not entitled to any deference. The overturning of the?Chevron doctrine?begs the question: how will the Department of Treasury (“Treasury”) and the Internal Revenue Service’s (“IRS”) promulgate tax regulations without relying on the doctrine of administrative deference?..." https://lnkd.in/g38mrPqt #chevrondoctrine #loperbright #federalagencies #internationaltaxconsultant #foreignincome #globaltaxservices #crossbordertax #internationaltaxplanning #accountinginternationaltaxandtransactionservices #foreigntax #internationaltaxcompliance?