GTM Tax & Technology Blog

Tax & Technology Blog

February 14, 2017

It’s Not the Plan That’s Important, It’s the Planning: Practical Guide to Preparing for Tax Reform

As President Donald Trump and the Republican-led Congress attempt to define a comprehensive tax reform package, details on policy changes are elusive. However, initial tax proposals released by the Trump Administration and House Republicans provide broad guidelines for what can be expected. As the saying goes, "it's not the plan that's important, it's the planning" -- so read on for what's in the proposal, and a practical guide to preparing for tax reform.

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Tax & Technology Blog

November 02, 2016

Why Your ERP Is Not Going to Work for Tax Depreciation (and what to do about it)

An ERP system can be highly effective. However, as you may have already found, this is not the case for the Tax Department, especially with regard to accurately and efficiently calculating tax depreciation. Luckily, there is an alternative. Read the blog to learn other solutions to help streamline the calculation.

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Tax & Technology Blog

October 26, 2016

A Practical Approach to BEPS Country-by-Country Reporting

The quest for transparency in the global tax environment has been a catalyst for new regulations and guidelines. In the spirit of that pursuit, The OECD created the Base Erosion and Profit Shifting (BEPS) Action Plan #13 as one of fifteen actions that need to be taken to implement BEPS measures. The goal is to increase transparency regarding international tax structures and tax attributes that authorities believe may lead to base erosion. This blog will address how to implement Action #13: Country by Country (“CbC”) Reporting and Notifications in a practical manner.

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Tax & Technology Blog

September 20, 2016

Understanding Tax Accounting for Investment in Domestic and Foreign Subsidiaries

Multinational companies need to understand the impact domestic and foreign transactions may have on their tax accounting. This blog was written to help you to better understand one facet of that task: tax accounting for investment in domestic and foreign subsidiaries. Here I will cover three sections – inside basis vs. outside-basis, bottom-up approach, and permanent reinvestment assertion.

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Tax & Technology Blog

June 16, 2016

Enhancements You Can Expect in the New Corptax® 2016.1.1 Release

Every quarter Corptax addresses the areas that have been modified or improved for better use of the software. We wanted to pass along the improvements to fellow users to make your tax automation, (and your job) easier. Read about the enhancements you can expect to see in the new Corptax 2016.1.1 release.

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Tax & Technology Blog

June 06, 2016

How to Create Efficiency and Accuracy in Corptax® International by Investing Time in Data Entry

Your output from Corptax® International is only as good as the time you put into your input. If you do not invest the time to enter the right data at the beginning of the process, you risk inaccurate output, spending time to correct it and the loss of automation. Begin with the end in mind to prevent issues later.

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Tax & Technology Blog

April 12, 2016

Choosing the Right Tax Data Management Option in Corptax to Save Time and Minimize Error

Corptax presents many options to transfer your tax data into the software. The option you chose can mean the difference between days, weeks, or even months of time that can be better spent managing other vital aspects of the tax function.

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Tax & Technology Blog

March 22, 2016

Real-Time Tax Technology Adjustments for Real-World Scenarios

Even the finest technology implementation will require some sort of adjustment as the tax technology tool is tested, used in live scenarios, functionality improves, and/or specifications change.

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