BDO News

This is a feed of the latest BDO USA Tax Publications.

DC Enacts Budget That Limits QHTC Program

Summary

On July 22, 2019, Mayor Muriel Bowser signed the District of Columbia Fiscal Year 2020 Budget Support Act of 2019 (B23-0209), which contains the Downloading Lost Revenues Amendment Act of 2019 (the Amendment). As the name indicates, the new Amendment is aimed at reducing tax benefits to Qualified High Technology Companies ... read more

Chinese Import Duty Refund Opportunity

Trouble with China Tariffs? This Could Help.

Turbulence related to tariffs has become troublingly commonplace. In May of this year, the President announced that retaliatory tariffs on nearly $200 billion of Chinese exports under Section 301 of the Trade Act of 1974 would increase from 10 to 25 percent for tariff ... read more

Family Office Structuring in Light of Lender Ruling

Recent court rulings and tax reform legislation has an impact on family office expense deduction. The lack of definition and bright-line test determining “trade or business activities” means that we must carefully consider the distinct facts and circumstances of each family office.  

Background

Tax reform legislation on December 22, 2017, suspended miscellaneous ... read more

Duty Refund Opportunity on Chinese Imports

Trouble with China Tariffs? This Could Help.

Turbulence related to tariffs has become troublingly commonplace. In May of this year, the President announced that retaliatory tariffs on nearly $200 billion of Chinese exports under Section 301 of the Trade Act of 1974 would increase from 10 to 25 percent for tariff ... read more

The Importance of Total Tax Liability And Global Outlook to Business Planning

By Monika Loving and Damon V. PikeThis article originally appeared in Tax Notes International on May 20, 2019.

Globalization and digital technology have provided unprecedented growth opportunities for U.S.-based businesses. Tax executives at these companies have never been better positioned to help lead their corporation’s business strategies at home and abroad. ... read more

10-Percent List 4 Tariffs to Begin September 1

On August 1, 2019, President Trump announced that beginning in September, the U.S. will impose a 10-percent ad valorem Section 301 tariff (List 4) on virtually all the remaining $300 billion worth of goods imported from China that are not already subject to Section 301 tariffs on Lists 1 to ... read more

How Midwest Property Tax Revisions May Affect Taxpayers

By Dorothy Radicevich, Steve Kaye, Daniel Fadden, and James McKillenThis article was originally published in State Tax Notes on July 8, 2019.   The Midwest’s varied structures of property tax assessment make it a unique region.

The fact that Illinois, Iowa, Minnesota, and Ohio only tax real property while exempting personal property would ... read more

First Exclusions Granted for List 2 China Duties

On July 31, 2019, the Office of the United States Trade Representative (USTR) published a Federal Register notice granting the first exclusions of products from the 25-percent duty imposed on the second tranche (List 2) of Section 301 tariffs on goods worth approximately $16 billion. The published notice can be ... read more

Top 10 Considerations for Customs Planning in 2019 and Beyond

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A Roadmap for Understanding Total Tariff Liability

Since the announcement of additional tariffs on foreign steel and aluminum and many products of Chinese origin, trade tensions have dominated both executives’ planning agendas and news headlines. Many companies were caught off guard by the tariffs, as there hasn’t been a ... read more

California Enacts A.B. 91 to Selectively Conform with Several Provisions from the TCJA

Summary

On July 1, 2019, California enacted Assembly Bill No. 91 (A.B. 91) as part of the budget package for the fiscal year 2020.  Called the “Loophole Closure and Small Business and Working Families Tax Relief Act of 2019,” A.B. 91 affects both California personal income tax and corporate tax.  The ... read more