In Case You Missed It ...

The information below provides a short review of various tax information items Eide Bailly recently published. To read more, click the "Learn more" link shown after each summary.

Expanding Into a Foreign Market

Eide Bailly's international tax team recently created a video discussing the impacts and phases a business may go through when expanding into a foreign market. Learn more.

Tax Update 2014: Looking Toward Year-End

In what appears to be a repeat performance of 2012, tax extender legislation will once again take Congressional center stage, but only after the results of the November mid-term elections are history. Unfortunately, this delay will only serve to make tax planning on many valued tax provisions somewhat of a guessing game-will those deductions be available or not? Learn more.

2015 Social Security Wage Base Increased to $118,500

According to the Social Security Administration, on average, total wages have increased in the past year. Because of this, the Old Age, Survivors and Disability Insurance tax (OASDI), more commonly known as Social Security tax, will have an increased wage base to use when calculating tax for 2015. The wage base was $117,000 in 2014, and will increase to $118,500 in 2015. Learn more.

Deductions for Charitable Contributions May Be Challenged by IRS

If substantiated according to IRS guidelines, taxpayers are allowed an income tax deduction for charitable contributions made during a tax year to qualifying organizations. Knowing your responsibilities for cash, gift and other charitable contributions is important. Learn more.

Transfer Pricing Infographic

Transfer pricing policies can have a direct effect on your global tax rate. Understanding transfer pricing is important. Eide Bailly recently created a transfer pricing infographic to help expanding business leaders identify if they need a transfer pricing policy updated and/or created. Learn more.

North Dakota Launches Taxpayer Access Point

The State of North Dakota has launched Taxpayer Access Point (TAP), an online tax filing and account access system for businesses. TAP allows taxpayers to more efficiently perform a variety of tasks, including applying for a new permit or account, making and viewing payments, accessing account information, editing address information, viewing previously filed returns and correspondence, and more. Learn more.

Can Forensic Technology Speed Up Your Asset Tracing?

In a recently published Private Letter Ruling (PLR), numbered 201429009 from the Internal Revenue Service, it was concluded that the value of assets held in a family trust are not includible in a decedent's gross estate, with one exception. Learn more.

FATCA Compliance for U.S. Entities

Beginning July 1, 2014, U.S. taxpayers with accounts in multiple countries are now required to comply with an additional tax withholding and reporting regime known as FATCA: Foreign Account Tax Compliance. Learn more.

Insurance Renewal Rates

Many businesses will receive their new health insurance renewal rates over of the course of the next month from their health insurance provider. With some health insurance renewal rates increasing in range from 25 - 80 percent next year, many employers are concerned with the costs associated with health care insurance. Learn more. 

Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, IRS controversy and procedures, tax-exempt organizations and tax legislation.