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Tax Incentives for Manufacturers to Go Green

There are many credits available to manufacturers that can help minimize the tax bite. One such area that manufacturers should explore are credits that stem from "going green." These credits can be of great value, both from a standpoint of benefitting the environment and from a cost savings standpoint. Let's take a look at some of the credits that are available and how a manufacturer can meet the... Read More

Exploring the Benefits of Creating a Living Trust for Estate Planning

Estate planning is a crucial aspect of ensuring your assets are managed and distributed according to your wishes. One popular tool for achieving these goals is the living trust also known as a revocable trust or family trust. Numerous types of assets can be put in a living trust including real, personal, and intellectual property, financial accounts like bank accounts and CDs, investment accounts, and... Read More

HLB Awarded Best Cross-Border Collaboration for Tax Solutions

We are pleased to announce that we have won the CFI.co - Capital Finance International 2023 global award for Best Cross-Border Collaboration for Tax Solutions. Our combination of local expertise and global capabilities, fueled by an innovative mindset, garnered high praise from the judging panel. They commended our diverse range of service offerings while also emphasizing that our top 10 global ranking... Read More

FinCen 2024 New Beneficial Ownership Reporting Requirements

In 2022, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued new regulations related to the Corporate Transparency Act (CTA), one of the main anti-money laundering laws in the United States. What is the purpose of the BOI reporting requirements? According to Congress, federal legislation providing for the collection of beneficial ownership information is needed to protect national... Read More

IRS Warns of Employee Retention Credit Scams

As fraudsters continue to try to find new ways to profit off of unsuspecting taxpayers, the IRS has now added schemes related to the Employee Retention Credit (ERC) to their list of "dirty dozen tax schemes." We have previously reported on the ERC, a legitimate tax credit that can be claimed by many businesses that retained employees despite a significant decrease in revenue due to COVID-19. However, many... Read More

Foreign Direct Investment in U.S., BE-12 Benchmark Survey

The BE-12 benchmark survey is BEA's most comprehensive survey, in terms of both the number of companies covered and the amount of information gathered, on foreign direct investment in the United States. The survey is conducted once every 5 years in place of the BE-15 annual survey. The BE-15 annual survey is conducted during the 4 years in between benchmark surveys. With 2022 being a survey year and deadlines... Read More

IRS Extends Deadlines for Florida

The IRS has announced extended deadlines for Florida residents and businesses who were affected by Hurricane Ian. Individuals or households that reside in Florida or have a business in Florida are eligible for the relief. Certain deadlines that fall after September 23, 2022, and before February 15, 2023, are now postponed to February 15, 2023. Individual extensions - Individuals who reside in Florida who... Read More

CHIPS and Science Act

On August 9, 2022, President Biden signed the CHIPS and Science Act into law. The $280 billion package is designed to boost domestic semiconductor production; strengthen American manufacturing, supply chains and national security; and invest in research and development, science and technology. Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund - The Act will provide $52.7 billion... Read More

Inflation Reduction Act Signed into Law

On August 15, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. The $437 billion package is designed to combat inflation, invest in energy production and manufacturing, and minimize carbon emissions. The IRA will invest approximately $300 billion in deficit reduction and $369 billion in energy security and climate control programs in the next decade. There are several key... Read More