Archives for Education

Tax Reform Highlights – Individual Provisions

Although some have criticized the process, priorities, and policies used in the formulation of this major tax system overhaul, we in the tax and accounting industry anticipated action. After several iterations, we finally got our wish for something—anything—in concrete so that we could get tax plans in place before year end and have answers to the many questions that our clients are asking about what tax reform does to their 2018 tax bill. On December
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Congress extends Medicaid and education funding at expense of multinational corporations

Just read an excellent update on the new bill that passed on 8/10/2010 in the House, still subject to Senate vote.  Quick summary: Medicaid / Education funding for states passed Continual erosion of ability to get foreign tax credits for multinationals or even taxpayers with multiple foreign corps.  Foreign tax credits prevent the double taxation of US and foreign taxes.  For example if your US corp owns a UK corp, that US corp may have
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