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Tax Notes Federal: Reduced Research Credit Election May Not Always Be Advantageous

NEWS

March 02, 2020

Tax Notes Federal: Reduced Research Credit Election May Not Always Be Advantageous

The Section 280C(c) election provides for a reduced research credit as determined under section 41, and is often made for state tax purposes. Taxpayers typically, but not always, made this election before the Tax Cuts and Jobs Act.

However, given the preferential place that the research credit has in the base erosion and anti-abuse tax (BEAT) calculation, this election may not always be advantageous, even considering state tax implications.
In “Reduced Research Credit Election May Not Always Be Advantageous” published in the latest issue of Tax Notes Federal, Brian Abbey, GTM’s Managing Director of International Tax Services, and Jim Swanick, GTM’s Managing Director, Federal Tax Services, illustrate some examples of when the election may not make sense.

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Tax Notes International: “U.S. Foreign Branch Basket Regulations: Taxpayer Considerations”

NEWS

January 28, 2020

Tax Notes International: “U.S. Foreign Branch Basket Regulations: Taxpayer Considerations”

The final foreign tax credit regulations (T.D. 9882) addressing sections 861, 904, 905, and 960 are, in most respects, similar to what was proposed last year (REG-105600-18). However, taxpayers could still be inclined — perhaps more so — to consider using first-tier branches to reduce or eliminate BEAT or convert lost excess GILTI credits to […]

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Section 382(h) Proposed Regs Throw Taxpayers a Curveball

NEWS

December 04, 2019

Section 382(h) Proposed Regs Throw Taxpayers a Curveball

The U.S. Treasury and IRS issued proposed regulations under IRC Section 382(h) pertaining to the interaction between built-in gains or losses with Section 382 limitations. GTM’s James P. Swanick, CPA, and Michael J. Tighe, CPA, offer their analysis in the latest issue of the Pennsylvania CPA Journal.

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GTM Recognized as a Top 10 Best Place to Work in Pennsylvania 2019

NEWS

November 22, 2019

GTM Recognized as a Top 10 Best Place to Work in Pennsylvania 2019

GTM announced today that it has been recognized among the Best Places to Work in Pennsylvania for the seventh consecutive year by Central Penn Business Journal. GTM placed 6th among mid-sized companies in this year’s rankings.

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Global Tax Management Expands International Tax Practice

NEWS

November 12, 2019

Global Tax Management Expands International Tax Practice

PITTSBURGH, Pa. (November 12, 2019) — Global Tax Management (GTM), the largest firm in the Mid-Atlantic region focused exclusively on delivering corporate tax services, announced today that international tax veteran Brian Abbey has joined the firm as a Managing Director, International Tax.  Based out of GTM’s Pittsburgh office, and servicing clients across the firm, Brian advises inbound and outbound multinational clients on all aspects of their cross-border transactions.

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Global Tax Management Named Among Best Firms for Young Accountants

NEWS

November 07, 2019

Global Tax Management Named Among Best Firms for Young Accountants

Global Tax Management (GTM), the largest firm in the Mid-Atlantic region focused exclusively on delivering corporate tax services, announced today that it has been recognized as a Best Firm for Young Accountants by Accounting Today. Specifically, GTM is ranked number 7 among firms nationally for accountants under the age of 30 who are launching their accounting careers.

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Global Tax Management Named a Best Accounting Firm to Work For by Accounting Today

NEWS

September 23, 2019

Global Tax Management Named a Best Accounting Firm to Work For by Accounting Today

Global Tax Management (GTM) has officially been named among Accounting Today’s 2019 Best Accounting Firms to Work For. Specifically, GTM is ranked number 30 among best mid-sized firms nationally. This is the second consecutive year that GTM has been recognized as a best accounting firm to work for by Accounting Today.

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Living with GILT(I): How to Apply the New Tax on Intangible Overseas Assets

NEWS

September 16, 2019

Living with GILT(I): How to Apply the New Tax on Intangible Overseas Assets

The GILTI calculation is designed to prevent tax base erosion resulting from the transfer of intangible assets to foreign subsidiaries in low-tax countries. Raymond Wynman, CPA, managing director of GTM’s international tax practice, offers a step-by-step guide on the GILTI calculation in the latest issue of CFO Dive.

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Global Tax Management Recognized as a 2019 Healthiest Employer

NEWS

June 13, 2019

Global Tax Management Recognized as a 2019 Healthiest Employer

The Philadelphia Business Journal honored Global Tax Management (GTM) as one of the region’s 2019 Healthiest Employers at Center City’s Ballroom at the Ben. This award program celebrates the companies and organizations who are doing the most to help keep their employees healthy and thriving through innovative wellness programs.

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