GTM Tax & Technology Blog

Tax & Technology Blog

August 02, 2017

Co-Sourcing Tax Department Functions: the When and the Why?

Staffing is a critical component of any tax department and generally used as a reflection point (or otherwise a barometer) to determine what role the department will ultimately play within the company. Typically, tax departments approach staffing in one of three ways: insourced, out-sourced or co-sourced. Read this blog to learn more about when and why co-sourcing may be a good approach for your tax department.

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Tax & Technology Blog

May 18, 2017

How to Speed Up Tax Data Preparation for 5471 Schedule M and Sales & Use Tax Compliance

Think about the burden lifted from your tax team by speeding up the data preparation and calculations for complex tax processes. In this blog, we cover automating data assembly for 5471 Schedule M and Sales & Use Tax Compliance. We provide practical examples of what happens when you can quickly manipulate source data into useable formats and the steps that can be automated.

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Tax & Technology Blog

May 05, 2017

Ask the Right Questions for Your Sales and Use Tax Compliance Process

The management of sales and use tax compliance can be complicated. Especially if your process is manual. To make it more manageable, you need to first ask the right questions about your data, your process, and your resources.

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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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