International Tax Insights | Firm News

We are committed to bringing you the latest news and impacts related to the Coronavirus and business operations—COVID-19 Resources. In addition, we can help navigate the challenges ahead.

Financial Management: 4 Key Technology Transformations

Posted by Ben Smith on April 15, 2021

Ben Smith

From shifts towards data-driven strategy to the implementation of new technological tools, the world of accounting and finance is rapidly changing. Here are four trends we are tracking right now and what they mean for your business.

5 Financial Considerations for Architecture and Engineering Firms

Posted by Kevin Johns on April 13, 2021

In running your architecture or engineering business, you may find yourself spending as much time working on the business as you spend working in it. Here are five financial considerations that will help you build an enterprise that lasts for you and for your employees.

How to Increase Tax Savings with a Roth IRA-Owned IC-DISC

Posted by Casey Haggerty on April 7, 2021

Did you know combining IC-DISC and Roth IRA tax saving strategies can help you save even more tax dollars?

Family-Owned Businesses: Succession Planning

Posted by Clayton & McKervey on April 7, 2021

In this episode of The Sound of Automation podcast, Frank Lashier III, COO of Dominion Technologies Group, Inc. joins us to talk about the challenges of transitioning a business within a family.

Clayton & McKervey Announces Appointment as Key Global Partner for the Centuro Global Network

Posted by Clayton & McKervey on April 5, 2021

We are pleased to announce our appointment as key global partner for the Centuro Global Network.

5 Emerging Technologies for Manufacturing

Posted by Jim Biehl on March 30, 2021

Learn about the fast-growing technologies impacting manufacturers today. Each could be a benefit to how your business produces a product, connects with new customers, secures its data or communicates internally and externally.

Money on the Table: Use ERC & PPP Programs to Your Advantage

Posted by Clayton & McKervey on March 29, 2021

Watch this recorded live video event we hosted with the Michigan Manufacturing Association (MMA) to learn how to use government programs to your advantage in 2021 and beyond.

KPIs to Take Your Business to the Next Level

Posted by Clayton & McKervey on March 24, 2021

Listen to this episode of The Sound of Automation podcast and learn what KPIs to track and how they can help your business succeed.

Cross-Border Related Party Transactions: Impact of COVID-19

Posted by Sue Tuson on March 23, 2021

Learn how to protect your business against potential transfer pricing adjustments and penalties due to the global pandemic.

IRS Extends Individual Tax Filing Deadline to May 17

Posted by Sarah Russell and Margaret Amsden on March 18, 2021

On March 17, the IRS announced an extension of the April 15 filing deadline to May 17 for individual taxpayers. Learn about the key extension details and other important considerations.

The R&D Tax Credit: 280(c) Elections

Posted by Tim Finerty and Bryan Powrozek on March 18, 2021

In this sixth installment in our series on R&D tax credits, we take a closer look at 280(c) elections and summarize the potential tax benefits for qualifying business owners.

American Rescue Plan Act: Key Impacts

Posted by Sarah Russell and Margaret Amsden on March 17, 2021

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

SALT 101 for Foreign-Owned Businesses

Posted by Eric Lin on March 15, 2021

As more foreign companies expand to the U.S., it is essential for them to have a firm understanding of sales and use taxes: two of the country’s most important taxes.

The R&D Tax Credit Four-Part Test

Posted by Tim Finerty and Bryan Powrozek on March 11, 2021

In this installment of our R&D tax credit series, we’ll take a closer look at the R&D tax credit four-part eligibility test. It turns out that the qualification bar is often lower than many business owners believe.

Industrial Automation Trends for 2021

Posted by Clayton & McKervey on March 9, 2021

Listen to episode 01 of The Sound of Automation podcast to learn about the most important industrial automation trends to watch this year.

How to Claim R&D Tax Credits

Posted by Tim Finerty and Bryan Powrozek on March 4, 2021

One of the most persistent myths about the R&D tax credit is that the claim process is too complex to be worth it. While it does require extra supporting documentation, the backup you need can most often be found in routine business records you already keep. Let's take a look at how to claim the R&D credit.

IRS Issues New Guidance on PPP and Employee Retention Credit Eligibility

Posted by Sarah Russell on March 3, 2021

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

Honoring International Women’s Day

Posted by Rob Dutkiewicz on March 1, 2021

In honor of International Women’s Day, I’d like to take a moment to recognize the talented women who have helped build our outstanding reputation within the business community – both here and abroad. I am proud that half of Clayton & McKervey’s owners are women.

How to Calculate R&D Tax Credits

Posted by Tim Finerty and Bryan Powrozek on February 25, 2021

Part three of our R&D tax credit series provides a quick overview of R&D tax credit calculation methods, including the RRC and ASC.

Doing Business in Mexico: What to Expect this Year

Posted by Carlos Calderon on February 23, 2021

As the global pandemic presses on, Mexican businesses have been forced to adapt to the virtual culture and work from home environment. Here is a round-up of the most relevant impacts to doing business in Mexico for 2021.

What Expenses Qualify for R&D Tax Credits?

Posted by Tim Finerty and Bryan Powrozek on February 18, 2021

The R&D tax credit is one of the most overlooked opportunities to boost your bottom line. Many business owners fail to claim it under the mistaken belief that they’re not eligible. Let's review the types of expenses that qualify for an R&D tax credit.

Clayton & McKervey Launches The Sound of Automation Podcast

Posted by Clayton & McKervey on February 17, 2021

We are excited to announce The Sound of Automation, a monthly podcast series for the Industrial Automation sector.

Your Guide to R&D Tax Credits

Posted by Tim Finerty and Bryan Powrozek on February 11, 2021

If you haven’t looked into the R&D tax credit before, there’s a good chance that you’re missing a big opportunity to boost your cash position. Even if they're aware of the credit’s existence, many businesses and their owners mistakenly assume that they aren’t eligible, or haven’t utilized the credit correctly. Here’s a quick business owner’s guide to the R&D tax credit and how it works.

Clayton & McKervey Leadership Team Continues to Grow

Posted by Clayton & McKervey on February 10, 2021

We are pleased to announce recent leadership team additions including new Tax Principal Nick Lloyd and Client Accounting Services Director Arda Eurdekian.

Introducing The Sound of Automation: A Clayton & McKervey Podcast

Posted by Clayton & McKervey on February 9, 2021

We are excited to announce The Sound of Automation, a monthly podcast series brought to you by Clayton & McKervey. Before we start releasing the main episodes for this podcast, we wanted to give a little background about why a CPA firm would want to host a podcast focusing on industrial automation.

Payroll Fraud: What to Look for and How to Prevent it

Posted by Dave Van Damme on February 9, 2021

Fraud is an unfortunate part of business. It can happen anywhere and to anyone, and sometimes can be at the hands of seemingly trustworthy people. Learn how we can help you survey the current environment for fraud and reinforce best practices for fraud prevention.

Let’s Talk Industrial Automation

Posted by Clayton & McKervey on February 5, 2021

Listen to the first episode of The Sound of Automation, a monthly podcast series by Clayton & McKervey.

Building in Uncertain Times

Posted by Rob Dutkiewicz on February 3, 2021

Any organization that is truly serious about growth must first make a serious commitment to consistently recruiting fresh talent into the firm. This holds true even in times of uncertainty, like the current environment we are all in. Organizations may see hiring as an area they can pull back on when times get tough, but it is important to resist this temptation.

Sales Analytics: A 21st Century Approach to the Consumer

Posted by Ben Smith on February 2, 2021

Monitoring sales is a critical aspect of any high performing business. In the mission to work smarter, sales analytics tools provide a level of optics that help leaders predict and understand critical business trends.

Stimulus Checks and the Recovery Rebate Credit

Posted by Margaret Amsden on January 28, 2021

To combat the hardship presented by COVID-19, legislation was signed in late 2020 enabling many taxpayers to receive two rounds of “Stimulus Checks,” or “Economic Impact Payments” (EIPs) throughout the year. Learn what this means for taxpayers.

Do You Qualify for Employee Retention Tax Credit Refunds?

Posted by Jim Biehl on January 27, 2021

PPP loan recipients can claim the ERC for eligible wages that were not paid for with PPP forgiven loans. The change is retroactive to March 2020 and means certain businesses should immediately claim refunds. Learn more about the qualification requirements and cash benefits.

Anti-Corruption Legislation and New FinCEN Reporting Requirements

Posted by Teresa Gordon on January 25, 2021

Learn about the new Corporate Transparency Act reporting requirements and other U.S. expansion considerations.

Clayton & McKervey Announces New Stimulus Benefits Check-in Service

Posted by Clayton & McKervey on January 21, 2021

Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, has immersed itself into the inner workings of the latest COVID-19 stimulus package to fully serve its clients.

Are Foreign-Owned or Controlled Companies Eligible for a PPP 2.0 Loan?

Posted by Teresa Gordon on January 18, 2021

Foreign-owned or controlled businesses in the U.S. may be wondering if they will be able to receive an initial or second PPP loan this time around. Learn more about eligibility requirements for foreign-owned businesses.

Misconceptions About the Research & Experimentation Tax Credit

Posted by Tim Finerty and Bryan Powrozek on January 15, 2021

As companies put more emphasis on Industry 4.0 and business processes become more automated and accessible, the opportunities for Research & Experimentation tax credits increase.

PPP Loan Round 2 – Should You Apply?

Posted by Jim Biehl on January 14, 2021

A new round of PPP loans was ushered in with the passage of the Economic Aid Act on December 27, 2020. In addition to the 2nd draw loans, eligible businesses that did not receive a PPP loan in the first round of funding have an opportunity to apply for a PPP loan.

Understanding Transactions, Even if Your Business Isn’t for Sale

Posted by Tim Hilligoss on January 12, 2021

Selling your small business may not have been your focus in 2020 and may not be your focus in 2021, but planning ahead comes with huge advantages. Here are four things our team walks through with every client when we prepare for a deal.

State and Local Tax Planning: What You Need to Know

Posted by Miroslav Georgiev on January 12, 2021

Every year state and local taxes play a larger role in the corporate tax season. Here are eight state and local tax planning considerations for businesses.

Welcome 2021

Posted by Rob Dutkiewicz on January 3, 2021

Happy New year! At the end of most years, I ask myself - where did the year go? But not so this year. The end simply couldn’t come quick enough.

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

Posted by Sarah Russell on December 30, 2020

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.

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