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HLB International Appoints Members in Chile, Kenya, Rwanda and Uganda

HLB International, one of the leading global accountancy networks with presence in over 110 countries, has recently signed new members in Chile, Kenya, Rwanda & Uganda.

Chile
CEYA, now HLB Chile, was established in 2000 and is present in Santiago and Valparaiso. The firm, whose partners are all Big Four-trained, provides audit, tax and advisory services and has special sector expertise in ports and shipping. www.hlb-chile.cl

Kenya
Cezam and Associates, based in Nairobi, was established in 2002 and provides audit, tax and advisory services. The firm has special expertise in the following industries: agriculture, education, manufacturing, services and NGOs.

Rwanda & Uganda
Garry Whiteknight & Partners is based in Kigali, Rwanda and Kampala, Uganda. The firm, which was established in 2005, has Big Four-trained partners. www.garrywhiteknight.com

Alternative, Simplified Research and Development Credit

The IRS recently announced that taxpayers are now allowed to amend returns to claim the Alternative, Simplified Research and Development credit. Historically, this was only reserved for timely, originally filed returns and no extension of time was available to make the election to use the alternative simplified credit. This is expected to help small to medium-sized businesses, the lifeblood of our economy, claim and benefit from the credit.The R&D credit may be claimed if a company incurs certain research expenditures for a new, improved, or upgraded product or process. Typically manufacturing, technology, medical device, pharmaceuticals, engineering, and certain agriculture businesses have benefitted from the credit.

Prior to this change, business owners often chose to utilize the R&D credit prospectively, because the cost of amending three years of tax returns using the Standard R&D credit could easily minimize, or even eliminate, any benefits. The standard research credit, which historically was required to be used on amended returns, is an often complex calculation and requires  the use of historical data that may not be available or will require tremendous effort to produce. The alternative simplified credit is much simpler to compute and does not require the use of historical data. To claim the alternative simplified credit on an amended return, you must not have claimed a credit on the originally filed return and the return must be for a year prior to June 3, 2014. There are also various provisions regarding certain affiliated companies and other exceptions that may apply. Please contact HLB Gross Collins, P.C. to learn more about this new announcement and discuss in more detail the opportunities for your business.

 

IRS Fraud Prevention – Refund Direct Deposits Per Account Limited

In an effort to fight fraud and identity theft, the IRS has set forth new limits on how many refunds can be directly deposited into a single account or pre-paid debit card. Effective January 2015 only 3 refunds can be deposited into a single account or debit card.  Fourth and subsequent refunds will be processed in the form of a paper check and will be mailed to the taxpayer. Taxpayers who exceed the limit on direct deposits will receive a notice informing them that they will receive a paper check in approximately four weeks, assuming there are no other issues with the return.

The limitation should prevent criminals from obtaining multiple refunds.  This limitation will not affect the majority of taxpayers and direct deposit remains the safest and fastest way for taxpayers to receive refunds. However, it may affect taxpayers in some cases, such as families in which parent’s and children’s refunds are deposited into a family account.

 

HLB HELLAS, GREECE, EXPANDS TO THESSALONIKI –NORTHERN GREECE

HLB International, one of the leading global accountancy networks with presence in over 110 countries, welcomes the expansion of the network’s Greek member HLB Hellas in Thessaloniki –Northern Greece.

The new office, offering accounting, business advisory, payroll and consulting services, will work in close cooperation with the main office in Athens, which further provides assurance services. This extension will allow for a wide geographic coverage and the seamless provision of services to clients throughout Greece.

The Head Tax Partner of the new office in Thessaloniki, Mr Mallidis, stated: “We are excited to be a member of this reputable and leading network and we foresee to a fruitful cooperation”.

The Head of the Athens Office, Mrs Maria Koitsanou, stated: “We welcome Mr Mallidis and his team to our professional family and are looking forward to expanding the network’s operations in Northern Greece.”

HLB INTERNATIONAL APPOINTS SIX NEW MEMBERS: in Sweden, Nicaragua, Bosnia-Herzegovina, Panama, France & Guyana

 

HLB International, one of the leading global accountancy networks with presence in over 110 countries, has recently signed new members in Sweden, Nicaragua, Bosnia-Herzegovina, Panama, France and Guyana.

In Sweden, Wint joins the network with 75 staff in eight locations, including Stockholm and Gothenburg. Established in 1955, the firm offers audit & accounting, tax, corporate finance and advisory services. HLB International is already present in Sweden with member Revisorsgruppen. www.wint.se

In Nicaragua, Guadamuz Ruedam Martinez & Cia joins the network in Managua. The firm, established in 1989, ranks 2d nationally and provides services to the private and public sector, NGOs and international organisations. www.grmauditores.com

In Bosnia-Herzegovina, Revik doo joins the network in Sarajevo. Established in 1998, the firm provides services in the industry, retail and wholesale, financial institutions sectors (banks, insurance, microcredit organisations, securities) as well as public sector and NGOs. Partners are Big Four-trained. www.revik.ba

In Panama, Trejos, Egan & Asociados, established in 2007, joins the network where it will find opportunities to introduce the tax benefits of Panama to international business in addition to providing audit, accounting and advisory services. www.trejosegan.com

In France, COGEP joins the network with offices covering about one third of the French territory, in the North West of the country. Established in 1971, the firm, which provides accounting, audit, tax and a large variety of advisory services, is today one of the country’s top ten financial services firms. HLB International is already present in France with members HLB Magnin Gecors, HLB Groupe Cofimé, HLB Fiprovex, Inkipio and HLB Maupard Fiduciaire. www.groupe-cogep.fr

In Guyana, Bisheswar, Seebarran & Co joins the network. Established in 1994, the firm provides audit, tax and advisory services to the public and private sectors. www.bishandco.com

 

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