KBKG launched the annual firmwide breast cancer campaign with “Pink Ribbon Day.” Colleagues were asked to wear something pink. Participation was spirited and our Midwest team gathered to rally behind the campaign. We’re collecting donations for two fundraising initiatives: Susan G. Komen American Cancer Society Making Strides Against Breast Cancer Pictured from left to … Read More
Midwest Blog
KBKG Tax Insight: CARES Act Offers Overlooked Opportunities for Refunds – First Check Cross Border Prices
As featured in Accounting Today Some multinational companies can generate additional carryback tax loss relief through transfer pricing planning. Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, US corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019).[1] The Act was implemented to provide badly-needed cashflow … Read More
KBKG Tax Insight: Concurrent IRS Form 3115 Template (DCN 244 & 7)
On April 17, 2020, the IRS released Rev. Proc. 2020-25 outlining how to implement the Qualified Improvement Property (QIP) changes that were part of the CARES Act of 2020 using Form 3115, Change in Accounting Method. Section 6.03(4)(b), states that a taxpayer making a change 244 to correct QIP and changed related to depreciation recovery … Read More
KBKG Tax Insight: Operating Internationally? You May Pay More Than Your Fair Share of Taxes After COVID-19
Even in a pandemic, multinationals may be surprised to receive a tax bill for their overseas operations, but there may be a silver lining. Ben Franklin is widely credited with the quote, “In this world, nothing can be said to be certain, except death and taxes.” With a pandemic, some companies with cross-border operations expect … Read More
KBKG Tax Insight: Form 3115 Template for Qualified Improvement Property (QIP) Changes
On April 17, 2020, the IRS released Rev. Proc. 2020-25 outlining how to implement the Qualified Improvement Property (QIP) changes that were part of the CARES Act of 2020 and modify certain elections under Section 168 using Form 3115, Change in Accounting Method. KBKG authored a comprehensive overview of the new procedures that can be … Read More
KBKG Tax Insight: Qualified Improvement Property (QIP) Guidance from the IRS: Rev. Proc. 2020-25
For the most up-to-date information on Qualified Improvement Property, see our latest post. Rev. Proc. 2020-25 was issued on April 17, 2020, providing guidance on how to implement Qualified Improvement Property (QIP) corrections made within the CARES Act. With this guidance, the IRS provides several options for taxpayers who have placed QIP into service during … Read More
Transfer Pricing Frequently Asked Questions
While transfer pricing is an important tax issue, many US and foreign clients are unaware of the tax and cash flow benefits of proactive planning. We have compiled a list of frequently asked questions below to provide insights on the fundamentals of US and international cross-border pricing rules. These questions also highlight some practical strategies … Read More
KBKG is Exhibiting at the GOA 2020 Business Expo
Todd French will be representing KBKG at the GOA Regional Business Association 2020 Business Expo on March 3rd, 2020. The 2020 Business Expo‘s them will be The Game of Business. This event is free and open to the public. Exhibitors will decorate their booth/business like board games. Join close to 1,000 attendees to meet 100 … Read More
[INTERVIEW] Alex Martin, Principal of Transfer Pricing
KBKG: Tell us about yourself, Alex. Alex: I grew up in the Tampa/St. Pete area, but I now reside in Michigan with my wife and daughter. I met my wife as an undergrad, attending school in New Orleans, a city that attracts people from all walks of life. I’ve always been interested in economics, which … Read More
KBKG is Sponsoring the FICPA International Tax Conference
Our Principal, Alex Martin, will be representing KBKG at the FICPA International Tax Conference on January 16th. This conference will provide knowlege needed for your multinational organization or clients, regarding changes and developments happening in international finance every day. Post Update 01/16/2020: Photos from the FICPA International Tax Conference Alex Martin is our Transfer Pricing … Read More