The One Big Beautiful Bill Act (OBBBA) will have widespread impact for almost every taxpayer. Visit our OBBBA Resource Center regularly for continuing updates and guidance on the tax impact of this legislation to you and your industry.
Learn MoreThe research and development (R&D) tax credit offers benefits for a wide range of research activities in a host of industries. This credit is not just for “white coat” researchers in a back laboratory. In fact, entities from manufacturers to technology and other service providers can realize...
Read MoreOver the last few years many landowners have begun receiving cash bonus payments for land leases related to the Marcellus and Utica Shale boom. In our work with clients in the Marcellus and Utica Shale regions, we have seen a recent uptick in landowners receiving offers to sign "pipeline...
Read MoreOver the past several years, there has been a significant increase in the number of Master Limited Partnerships (MLPs), the market capitalization of MLPs, and the number and type of investment products being offered to allow investors exposure to MLP investments. The purpose of this article is to...
Read MoreIt is about this time every year when CPAs remind their clients that any foreign bank and financial accounts must be disclosed to the U.S. Department of Treasury by June 30th. My colleague Ray Polantz explains the foreign bank account reporting (FBAR) requirements in greater detail in his recent...
Read MoreWe certainly have seen an increase in oil and gas activity throughout Northeast Ohio over the past few years. One of the great aspects of oil and gas deals is the flexible structures they offer. Common conveyances include leases, subleases, sales, production payments, sharing arrangements and...
Read MoreWhen is a sale a sale? When does a deal really close? Is it when title transfer occurs? It’s not always that simple unfortunately. Title transfer is only one of the factors when determining whether a transaction is closed and a sale has been made. There have been tax cases in which title had...
Read MoreIn many instances, property can be contributed to an entity by its owners in exchange for ownership interests, without gain or loss being recognized on the contribution. For corporations, the general rule under Sec. 351(1) is that “no gain or loss shall be recognized if property is transferred to a...
Read MoreOftenin the establishment of a new partnership, one partner (the contributing partner) contributes an asset such as land or a building and other partners contribute cash. This is especially common in the real estate industry and is a nontaxable transaction under Internal Revenue Code (IRC) Section...
Read MoreKey Challenges The company was relatively young, yet it had experienced robust growth across a number of different product lines. Despite its robust growth, there were few internal resources available to support the execution of an acquisition. The company’s ownership had potentially...
Read MoreA mid-market manufacturing company had experienced significant growth, organically and through numerous acquisitions. As a result, company leadership recognized the need for a strategic initiative that would help them drive valuable improvements in the entire employment lifecycle, from recruiting...
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