The qualified small business stock (QSBS) provision under Sec. 1202 of the Internal Revenue Code is one of the most powerful opportunities to reduce or eliminate taxable gain in a sale transaction.

On any sale of real estate, a like-kind exchange (LKE) should be considered as a way to eliminate immediate tax being imposed. An LKE is an exchange of rental real estate or real estate held for business or investment use (the relinquished property) for one or more real estate properties held for rental or for business or investment use (the replacement properties). A one-paragraph clause inserted in any sale agreement can reserve your right to do an LKE.

The United States (U.S.), like many other countries, places burdensome tax implications on certain individuals effectively departing the country's worldwide income tax net. In the U.S., a tax expatriation occurs when an individual's U.S. citizenship or long-term permanent residence is terminated if certain requirements are met. Long-term permanent residence, in general, is met if an individual has held a green card in any part of at least eight of the fifteen tax years ending in the year of termination via filing Form I-407, Record of Abandonment of Lawful Permanent Resident Status. Expatriation can also occur for a green card holder who files Form 1040-NR, U.S. Nonresident Alien Income Tax Return, based on residence in a foreign country under the terms of a U.S. income tax treaty.

Property tax is one of the mainstays of municipal financing and is often considered an unavoidable cost of owning real estate.

The Tax Cuts and Jobs Act of 2017 (TCJA) included a change to the treatment of research and experimental (R&E) expenses under Sec. 174 of the Internal Revenue Code. Beginning January 1, 2022, the TCJA requires taxpayers to capitalize previously deductible R&E expenses. The change provides a ratable amortization period of five years for R&E conducted in the U.S. and 15 years for non-U.S. activity beginning at the midpoint of the tax year incurred. This dramatic shift in the tax treatment of R&E expenses has important consequences for the artificial intelligence (AI) industry.

Andersen Global adds depth to its presence in Brazil through a Collaboration Agreement with Apsis, a leading, independent valuation firm with offices in Rio de Janeiro, São Paulo and Belo Horizonte.

Andersen is pleased to announce the addition of Andrew Liu as Managing Director in the Commercial practice. With over 20 years of professional tax experience, Andrew brings a wealth of expertise in financial accounting, income tax reporting, tax compliance, and tax planning in complex tax environments for high-profile Fortune 500 companies.