Latest Developments Impacting Small to Mid-Sized Businesses
Posted by Tim Finerty on June 10, 2020
Tim Finerty
On June 10, Shareholder Tim Finerty and Manager Bryan Powrozek presented to the Control Systems Integration Association (CSIA) as part of the organization’s webinar series during Covid-19. Learn how they are advising owners of small to mid-size businesses in the Industrial Automation industry.
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Economic Aftershocks of COVID-19—and Five Financial Strategies
Posted by Tim Finerty and Bryan Powrozek on June 9, 2020
Beyond basic operational concerns, many process industry users and system integrators are facing related business and financial issues due to COVID-19 and its direct and indirect effects.
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Slowdown Predicted for System Integrators
Posted by Tim Finerty on February 6, 2020
The concern about an economic slowdown has permeated the news in the past few months. This has been punctuated by the Federal Reserve Bank’s recent decision to cut interest rates for the third time in 2019.
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Using the R&E Tax Credit to Improve Profitability
Posted by Tim Finerty and Bryan Powrozek on June 26, 2019
Most system integrators have heard that the R&E tax credit can have an immediate impact on a company’s cash position as it frees up money...
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Mexico’s Payment Receipt Complement: Are You Ready for it?
Posted by Tim Finerty and Carlos Calderon on October 19, 2018
It is essential that the information received by the taxpayers be precise to avoid penalties.
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Considering Doing Business in Mexico? Six Things to Know Before You Go
Posted by Tim Finerty and Carlos Calderon on March 13, 2018
There are six key issues to consider before a business expands to Mexico. It is strongly recommended to consult a tax and accounting advisor before doing business in Mexico to avoid penalties, fees and fines.
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Maximizing Tax Savings for System Integrators & Automation Companies
Posted by Tim Finerty and Sarah Russell on June 8, 2016
Clayton & McKervey Shareholders Tim Finerty and Sarah Russell hosted a webinar, "Maximizing Tax Savings for System Integrators & Automation Companies," produced by the Robotic Industries Association (RIA). The presentation discussed recent changes in legislation and the current eligibility requirements for companies interested in benefitting from R&E tax credits.
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Independent Contractors in Mexico
Posted by Tim Finerty on December 22, 2015
A common practice for many US companies with activities in Mexico is to pay Mexican residents as independent contractors. US companies do this so they …
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Private Company Reporting Options – “FRF for SMEs” vs. “Private Company Council GAAP”
Posted by Tim Finerty and Catherine Faysal on August 4, 2015
The private company financial reporting landscape has changed. With new acronyms like “FRF for SMEs” and “PCC,” it can be hard for companies to decide …
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5 Things You Need to Know about the AICPA’s Financial Reporting Framework for Small and Medium Sized Entities
Posted by Tim Finerty and Catherine Faysal on September 23, 2014
It’s been a little over a year since the AICPA issued the Financial Reporting Framework for Small and Medium Sized Entities (“FRF for SMEs”) as …
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Mexican Tax Reform Could Have Major Impacts for U.S. Manufacturers
Posted by Tim Finerty on January 24, 2014
How will Mexico’s new tax laws impact your company? The Mexican government recently made significant changes to the tax laws that govern the country. The …
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Mexico’s Tax Amnesty Program
Posted by Tim Finerty on April 29, 2013
The Mexican tax administration (Servicio de Administración Tributaria, or “SAT”) established a tax amnesty program, effective in 2013, that provides an opportunity for individuals and …
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Expanding to Brazil – What You Should Know
Posted by Tim Finerty on January 8, 2013
As small to mid-size enterprises shift gears to accelerate growth, they are taking a closer look at new opportunities in foreign countries. One of those …
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Differences between IFRS and GAAP
Posted by Tim Finerty on August 1, 2012
As globalization spreads, there is a growing need for a universal accounting standard. This is where International Financial Reporting Standards (“IFRS”) steps in; founded by …
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Q&A: International Financial Reporting Standards for SMEs
Posted by Tim Finerty on June 6, 2012
This interview with Tim Finerty, the Shareholder leading the International Financial Reporting Standards (IFRS) practice at Clayton & …
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IC-DISC: Reducing US and Foreign Income Tax Liabilities
Posted by Tim Finerty on August 15, 2011
IC-DISC: Proper planning could reduce US and foreign tax income liabilities. By implementing an IC-DISC strategy, a US subsidiary that is manufacturing or distributing US …
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Considering Doing Business in Mexico?
Posted by Tim Finerty on March 10, 2011
It is not uncommon for U.S. businesses, large and small, to unintentionally make decisions that impact the business for years to come. In the planning …
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Research & Experimentation Funding for Control Groups
Posted by Sarah Russell and Tim Finerty on January 2, 2019
A common misconception about the Research and Experimentation Tax Credit for Increasing Research Activities (hereinafter the R&E Credit) arises when control group members share expenses related to qualified research activities; and when the ultimate user or decision maker is not the same entity who conducted the research activities.
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