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CPAs Talk Tech Biz

A blog for the owners, founders, and executives of privately held technology companies.
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November 15, 2018

Qualified Opportunity Funds...an Opportunity for Tax Savings

By Abe Livchitz, CPA, Senior Tax Manager & Tingting Zhang, CPA, Tax Senior

Tax deferral, gain exclusions, tax free appreciation. These seven words are very exciting as they offer potentially significant tax savings for our clients. All three of these benefits are possible by investing in a “Qualified Opportunity Fund” (QOF). The creation of these funds and their related tax benefits were authorized by the Tax Cuts and Jobs Act (TCJA) passed by Congress in December 2017. The Internal Revenue Service recently issued guidance to clarify questions unanswered by the TCJA, so QOFs should gain in popularity in the coming months. However, additional guidance is expected in the future, as many questions remain unanswered. (more…)

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Categories: Fall 2018, Tax Reform, Updates & Alerts
Tags: Gain exclusions, Qualified Opportunity Fund, Tax deferral, Tax free appreciation,
November 15, 2018

Environmental Impact of the Concrete Surrounding You

By Steve Carter, CPA, Principal
ASL Construction Group

When you see a cement mixer going down the street, or at a site getting ready to pour, do you think immediately of the effects upon our environment? I must confess, I have not. Until recently.

Cement is a major component of concrete. Cement is often referred to as the glue that holds concrete together. But cement is very harmful to our environment.  One ton of cement production releases one ton of carbon dioxide (CO2) into the atmosphere. With cement production currently at 2.8 billion tons per year, and expected to only increase, that is a lot of CO2 released into our already fragile atmosphere. (more…)

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Categories: Construction Corner, Fall 2018
Tags: Carbon dioxide, Cement, Concrete, sustainability,
November 14, 2018

Major Change in California Independent Contractor Classification Rules

By Rachel Rabindran, Accounting Consultant

In April, 2018 the California Supreme Court issued their long-awaited ruling in a class action lawsuit concerning delivery drivers. The court unanimously ruled in Dynamex Operations West, Inc. v. Superior Court of Los Angeles County that a worker will be considered an employee of the hiring entity unless the hiring entity can establish all three of the following factors (also known as the “ABC test” to identify independent contractors): (more…)

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Categories: Fall 2018, Updates & Alerts
Tags: ABC Test, California Employment Development Department, Dynamex Operations West, Independent Contractor,
By ASL Guest
•
November 12, 2018

Corporations Are Expanding Globally, Without Leaving the US

By Sylvia Chan, CPA, Tax Manager

The Tax Cut and Jobs Act (TCJA), P.L. 115-97 enacted in December 2017 has brought about exciting changes to the tax world.  I would like to draw your attention to a provision that was written specifically to encourage U.S. companies to expand their operations globally without leaving the United States.  Some technology companies have moved their intangible assets offshore to low-income tax jurisdictions and shifted the related income outside the United States.  While tax-avoidance may not always be the primary motive, it was an inevitable truth that the U.S. Treasury was losing a portion of its revenue due to this income shifting tactic.  (more…)

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Categories: Fall 2018, Updates & Alerts
Tags: FDII, Foreign Derived Intangible Income, GILTI, Global Intangible Low-Taxed Income,
November 12, 2018

Top 5 Non-Tax Reasons to Have an Estate Plan

In this podcast, Anu Joshi from our Family Wealth and Individual Tax Planning Group discusses the top 5 non-tax related reasons you need an estate plan, from dividing your wealth to protecting your well-being.

http://www.aslcpa.com/wp-content/uploads/2018/11/Anu-Podcast-11.9.18-FINAL.mp3
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Categories: Fall 2018, Family Wealth & Individual Tax Planning
Tags: Anu Josh, estate planning, Family Wealth, Podcast,
November 6, 2018

Top 5 Non-Tax Reasons to Have an Estate Plan

Despite what one might think, estate planning isn’t limited to only the rich and famous. Previously, avoiding or minimizing federal estate tax liability was a primary motivation for creating an estate plan. But with a generous gift and estate tax exemption of $11.18 million for 2018, this is less of a worry for most families. This article details other important benefits of having an estate plan. (more…)

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Categories: Fall 2018, Family Wealth & Individual Tax Planning
Tags: estate planning, Letter of instructions, Probate,

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