by Sarah FrazierElection Economics: Key Takeaways from the 2024 Presidential Tax Plans
As the U.S. gears up for the November 5th presidential election, candidates Kamala Harris and Donald Trump present contrasting visions for the nation’s tax future. With the economy and tax policy at the forefront, each contender is pushing distinct approaches with regards to how taxation will shape America’s path forward. Here’s a closer look at what to expect from each candidate’s...
by Sarah FrazierChevron’s Fall: The Supreme Court Tightens the Reins on Regulators
By: Sarah Frazier, Attorney at Law 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...
by Greg BryantTax Incentive Programs in the Caribbean
By: Greg Bryant, CPA/Attorney Imagine, if you will, you live in California or New York City where your income tax rate is over 40% (federal and state). However, imagine then that you could move to another state, keep your US citizenship, and lower your tax rate to under 4% (federal and state). Would that be interesting? Well, here is how you can do it. The United States territories...
by Greg BryantTax Planning for Exports: IC-DISC Primer
By: Greg Bryant esq./CPA and Sarah Frazier, Esq. 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...
by Greg BryantNew Business Reporting Requirement Now in Effect
Beginning on January 1, 2024, US companies have new reporting rules to comply with per the little talked about law enacted January 1, 2021: the Corporate Transparency Act (the “CTA”). Though CTA’s intent is to stop the US from being a haven for “shell” companies that could be used to hide the identity of true investors, it will affect over 32 million companies in 2024 and beyond. The CTA...
by Greg BryantCaptive for E-Commerce
By Gregory T. Bryant, CPA / Attorney at Law / Managing Partner 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,...
by Lauren OlánEmployee Retention Credit
By Lauren Olán, Esq, LLM 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...
by Sarah FrazierThe Inefficient Revenue Service
By Sarah Skinner, Esq, LLM and Lauren Olan, Esq The formation of the Bureau of the Internal Revenue Service (later renamed the Internal Revenue Service in 1953) was a seemingly very permanent solution to the temporary problem of funding the Civil War. It became a staple of US government overreach and granted the ability to serve as the judge, jury, and executioner for all things tax, an...
by Sarah FrazierInflation Reduction Act of 2022: Energy and Climate Provisions
By Sarah Skinner, Esq, LLM andGregory Bryant, Esq., CPA On August 7, 2022, the Senate approved the Inflation Reduction Act of 2022 (“IRA”). Besides addressing the federal deficit,this sweeping package also includes provisions to combat climate change, lower healthcare costs, and raise taxes oncertain corporations. This article is the first of several that BILTgroup will post addressing the...
by Sarah Frazier