Beginning July 1, 2019, out-of-state and online retailers who lack physical presence in New Mexico may be required to collect and remit New Mexico gross receipts tax. Out-of-state businesses will be required to register with the New Mexico Taxation and Revenue Department and begin remitting gross receipts tax if in the previous calendar year they have total taxable gross receipts of at least...read more. Read More
James Ortiz | June 24, 2019
Under new Arizona law that takes effect October 1, 2019, out-of-state online retailers doing business in Arizona may be required to collect and remit transaction privilege sales tax (TPT) to the state of Arizona. Remote sellers must file and pay if their total annual sales exceed... read more. Read More
Sell-Side Tax Considerations for Mergers and Acquisitions – Part 3: Effectively Negotiating the Tax Aspects of the Purchase Agreement
REDW | June 12, 2019
A purchase agreement not only sets forth the terms and structure of the transaction, but also establishes who benefits from valuable tax deductions that may be created in connection with the transaction.
Hence, it is of critical importance that sellers have a thorough understanding of the various tax sections of a purchase agreement and take a proactive approach to achieving the desired outcomes. Read more. Read More
Sell-Side Tax Considerations for Mergers and Acquisitions – Best Practice #2: Evaluating Tax-Structuring Alternatives
REDW | May 28, 2019
Ensuring that a transaction is structured in a tax-efficient manner is critical in maximizing a seller’s after-tax proceeds. Evaluating the various structuring alternatives available before undertaking a formal sale process allows a seller to identify a preferred structure and set expectations with prospective buyers regarding deal structure at the onset of the sale process. Read more. Read More
Lyric Morrison | May 22, 2019
Why are so many businesses moving their accounting operations to the cloud? Should you make the switch too?
For many, “the cloud” and “cloud computing” are mysterious and confusing concepts, which can lead to a severe misunderstanding of all the efficiencies and opportunities cloud-based financial management platforms can offer you and your business.
Sell-Side Tax Considerations for Mergers and Acquisitions – Part 1: Performing Sell-Side Tax Due Diligence
REDW | May 20, 2019
Now more than ever, sellers and their advisors are beginning to appreciate the value of having a thorough understanding of a company’s tax profile, areas of potential tax risk, tax attributes, and desired structure of a transaction before undertaking a deal process. Amid these changes in the dynamics of how sellers approach taxes in sale transactions, employing best practices can have a dramatic impact on outcomes.
In this article and two more to follow, we outline three best practices that are some of the most critical for sellers to consider in order to maximize deal value and ensure a smooth process when disposing of a business or business line. Read more. Read More
In 2016, the Financial Accounting Standards Board issued an Accounting Standards Update (ASC 842) that changed the way financial reporting will be done for leasing transactions. This change will affect all companies and organizations that lease assets such as real estate, airplanes and vehicles, and manufacturing equipment. Read more. Read More
Laura Hall | May 6, 2019
Estimates are that older Americans lose approximately $2.9 billion a year to a growing assortment of financial exploitation schemes and frauds, according to the 2019 Fraud Book recently released by the U.S. Senate Special Committee on Aging. Criminals, foreign and domestic, are targeting seniors with the goal of depriving them of their savings, including retirement savings. Over the years, a number of our clients have asked that question and been surprised at the answer. Read more. Read More
Brian Foltyn | May 3, 2019
You’ve decided to sell your company. How do you make sure you will receive fair value for the true worth of the business? After all, you have spent years building a brand, a reputation, and success of your business. Now that you’re finally considering your exit strategy, it is vital that you can meet your objectives when the exit is imminent. Read more. Read More
Daniel Yu | April 17, 2019
The CFA Society of New Mexico recently hosted a fireside chat by Andrew Fastow, the former CFO of Enron. Mr. Fastow began the time by acknowledging that what he did was wrong, unethical, and illegal. He also took full responsibility for his actions and apologized.
For the rest of his talk, however, Mr. Fastow did not focus on Enron, but rather the way we work to rationalize questionable behavior. Mr. Fastow led us through a few thought exercises that might appear to be unethical, but upon further examination and with a little more information were actually examples of routine business practices. Read more. Read More