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Sarah Russell

Shareholder, Tax

As the leader of the firm's tax group, Sarah supports growth-driven domestic and international businesses with tax planning, consulting and compliance.

What is your area of focus?

As a point person for tax strategies at Clayton & McKervey, I help owners and executive teams with R&D tax credits and international tax consulting and compliance. I look for big-picture solutions to advise clients on global operational structuring, foreign tax credit utilization, tax treaty analysis and more. I work with both domestic companies expanding internationally, and foreign-owned companies. I value the opportunity to collaborate with both accountants and tax specialists globally on behalf of our clients.

How long have you been at Clayton & McKervey?

Since 2000

What is the favorite part about your job?

I enjoy working with business owners to reduce their worldwide tax liabilities.

Specializations

Tax planning and preparation
Tax legislation changes and impacts
R&D tax credits
International tax consulting and compliance
Foreign tax credit utilization
Mergers, acquisitions and reorganizations
Tax treaty analysis

Education

Master of Business Administration, Wayne State University
Bachelor of Science in Accounting, University of Michigan – Dearborn

Connections

Control Systems Integrators Association, Partner Committee
Michigan Manufacturers Association, Tax Committee
Association for Advancing Automation
Automation Alley
PrimeGlobal
Crohn’s & Colitis Foundation of America, Board of Directors

Sarah 360°

If you could learn anything, what would it be?
Play the piano

Who do you admire most in life?
My grandparents

What’s your perfect day?
Hiking and camping, cooking over the fire and enjoying an ice cold beer to end the evening

Articles by Sarah Russell

Tax & Assurance Guidance

Is Your Business Eligible for Unclaimed CARES Act Money?

Not all supply chain issues automatically fit IRS eligibility criteria, and companies who want you to sign up for their services may leave out key details. If you would like more context and clarity regarding ERC eligibility, here are some key points to consider.

by Sarah Russell

August 9, 2023

Tax & Assurance Guidance

Is Immediate R&D Expensing on The Horizon?

For the first time since 1953, taxpayers are not allowed an immediate deduction for R&E expenses and instead must capitalize and amortize such expenses. On March 17, 2023 a stand-alone bipartisan bill was reintroduced which would allow immediate expensing of R&D. Learn what this means for taxpayers.

by Sarah Russell

March 22, 2023

Tax & Assurance Guidance

What is Section 174 Capitalization?

To the surprise (and dismay) of taxpayers and practitioners, Congress has been unable to repeal or defer the requirement to capitalize and amortize research and experimental (R&E) expenses under Internal Revenue Code Section 174.

by Sarah Russell

February 13, 2023

Tax & Assurance Guidance

Insights from Washington: Inflation Reduction Act Signed

On August 7, 2022, the U.S. Senate approved the Inflation Reduction Act of 2022, a bill to finance climate and energy provisions and an extension of the enhanced Affordable Care Act (ACA) subsidies totaling $369 billion in additional spending.

by Sarah Russell

August 19, 2022

Tax & Assurance Guidance

Insights from Washington: Reconciliation Package on the Horizon?

It’s been a while since we’ve reported news from Washington as things have been a little slow on the tax front. All that changed this week when it was announced Senator Joe Manchin had reached an agreement with Senate Majority Leader Chuck Schumer on tax, climate change, energy and healthcare provisions to be included in the Inflation Reduction Act of 2022.

by Sarah Russell

July 28, 2022

International Businesses

Russian Sanctions Complicate Banking Around the Globe

NATO countries have banded together to impose historic sanctions on Russia for their invasion of Ukraine in a display of strength and unity. These sanctions mean that companies currently cannot send payments to Russian banks and trying to get around this can result in significant penalties. While it may seem straightforward, these sanctions have complicated the geopolitical landscape of making international deals that extends beyond the borders of just Ukraine and Russia.

by Sarah Russell

April 12, 2022

Tax & Assurance Guidance

12 Build Back Better Changes to Watch

As the Build Back Better (BBB) legislation makes its way through congressional talks, there are changes in the works that could impact your upcoming tax obligations. The first thing to know is that the Build Back Better act is evolving daily. Despite the uncertainties, it’s likely that some tax increases will be included in the final bill.

by Sarah Russell

December 16, 2021

Tax & Assurance Guidance

American Rescue Plan Act: Key Impacts

Review the key impacts of the $1.9 trillion American Rescue Plan Act, including another stimulus payment and extended unemployment benefits.

by Sarah Russell

by Margaret Amsden

March 17, 2021

Tax & Assurance Guidance

IRS Issues New Guidance on PPP and Employee Retention Credit Eligibility

The IRS recently issued highly anticipated guidance about PPP and employee retention credit eligibility and qualified wages.

by Sarah Russell

March 3, 2021

Tax & Assurance Guidance

Employee Retention Tax Credit Updated and Extended by Most Recent Stimulus Package

The most recent COVID-19 Stimulus Package extended and made some key adjustments to the Employee Retention Credit (ERC) making it likely more business will qualify for the credit.

by Sarah Russell

December 30, 2020

COVID-19

PPP Double Jeopardy: Loan Forgiveness and Tax Implications

Learn about the potential tax implications of PPP loan forgiveness and how this impacts companies who claim the R&D tax credit.

by Bryan Powrozek

by Sarah Russell

October 20, 2020

Tax & Assurance Guidance

PPP Loan Forgiveness FAQs

The COVID-19 pandemic caught many by surprise including business owners who were required to comply with forced business closures and others who experienced modified operating rules or dwindling demand.

by Tim Hilligoss

by Sarah Russell

August 10, 2020

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