Corporations and pass-through entities may have opportunities to effectively improve their federal income tax positions and, in turn, enhance their cash tax savings by strategically adopting or changing tax accounting methods. Companies that want to reduce their current year tax liability (or create or increase a current year net operating loss (NOL)) should consider accounting […]
GLASTONBURY, CONN., (June 3, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, today announced the appointment of Corey Veneziano as a Partner in the firm’s esteemed Tax Department. With almost 20 years of comprehensive experience in providing accounting and tax services across various industries to closely held businesses along with their […]
GLASTONBURY, CONN., (February 5, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, today announced the appointment of Deborah Denno as a Partner in the firm’s esteemed Tax Department. With over 35 years of comprehensive experience in providing accounting and tax services to high-net-worth individuals and closely held organizations across various industries, […]
GLASTONBURY, CONN., (January 19, 2024) – MahoneySabol, a regional certified public accounting firm based in Glastonbury, Connecticut, is pleased to announce the successful merger of Giamalis and Company, a prominent Glastonbury accounting firm known for its expertise and client-focused approach. This strategic move is part of MahoneySabol’s ongoing commitment to enhancing its service offerings and […]
BEPS 2.0 and Intangible Property Planning As of July 2023, 138 jurisdictions had signed on to the Organization for Economic Cooperation and Development (OECD) base erosion and profit shifting (BEPS) 2.0 framework aiming to ensure that multinational enterprises with group revenue of more than EUR 750 million pay a minimum corporate tax rate of 15.0%. […]
With thousands of taxing jurisdictions, from school boards to counties and states, and many different types of taxes, state and local taxation is complex. Each tax type comes with its own set of rules — by jurisdiction — all of which require a different level of attention. This article provides a high-level overview to help […]
The structuring of real estate transactions can have significant tax implications, and new regulatory or statutory developments can change the calculation of how best to approach a transaction from a tax perspective. As part of year-end planning and looking ahead to the coming year, real estate businesses should review how current tax rules apply to […]
The IRS in the past year has been actively challenging partnerships’ tax positions in court – from the valuation of granted profits interests to limited partner self-employment exemption claims and the structuring of leveraged partnership transactions. At the same time, the agency is dedicating to new funding and resources to examining partnerships. These developments, along […]
Preparing for the Impact of OECD Pillar Two Implementation The OECD released the framework for the Pillar Two global minimum tax in December 2021. The Pillar Two model rules that were subsequently issued are intended to ensure that multinational enterprises (MNEs) with global revenues above EUR 750 million ($800 million) pay a 15% minimum tax […]
What Lessons Can Corporate Tax Departments Take Into 2024? In 2022, corporate tax departments that were already facing a persistent lack of resources had to adapt tax provision work and control frameworks to account for policy-related changes enacted over the last few years. With 2023 drawing to a close, now is a good time to […]