News

Top 10 Best Practices to Address State Unclaimed Property Programs

Posted April 3, 2023

How should holders of unclaimed property address state laws and enforcement programs? Holders should follow these top 10 best practices to understand their risk profile, mitigate risks appropriately (if any) and comply with ongoing state escheat laws. Identify if your company at the parent or subsidiary levels has filed unclaimed property returns in applicable states, […]

2023 Inflation Adjustments Impact Qualified Small Businesses, Business Interest Limitation Exemption and Expensing of Depreciable Assets

Tax Tips

Posted March 29, 2023

Various provisions of the Internal Revenue Code that are tied to specified dollar amounts provide that those dollar amounts are to be increased for inflation. In the accounting methods area, those provisions include the following: The increase to the threshold to be considered a small business taxpayer, which determines whether some entities can use an […]

Washington Supreme Court Upholds Capital Gains Tax as Constitutional

Legislation

Posted March 24, 2023

JUST IN – This morning, in a 7-2 ruling, the Washington State Supreme Court finds that the proposed capital gains tax is constitutional as an excise tax. In the Seattle Times article, State Attorney General Bob Ferguson, in his brief to the Supreme Court defending the tax, called it “the most progressive change in Washington […]

Washington’s Online Reporting System for Capital Gains Tax is Now Live

Legislation

Posted March 20, 2023

Have you heard of Washington’s Online Reporting System for Capital Gains Tax? In this blog post, David Martinson, CPA, Tax Manager at VSH, provides some key items to know about the Washington Capital Gains tax. VSH is keeping up to date on any new information as it continues to roll out. VSH Insight The new […]

Forced Labor and Proving the Negative with U.S. Customs

International

Posted March 13, 2023

The pressure on U.S. companies importing goods from overseas to document that their supply chains are free from forced labor has never been greater or more critical. In June 2022, the Uyghur Forced Labor Prevention Act (UFLPA) was enacted into law. To date, this is the only federal law in the U.S. focused specifically on […]

Get informed on the the new WA Cares Fund program

Legislation

Posted March 10, 2023

The WA Cares Fund is a new program that gives working Washingtonians access to long-term care coverage when they need it. WA Cares contributions begin on July 1, 2023 and benefits begin on July 1, 2026. Make sure you’re up to speed on how the program works and what you need to do to prepare […]

Preparing to Sell Your Business

Tax Tips

Posted March 9, 2023

The idea of selling a business can be daunting. Finding a buyer and managing the time-intensive process while continuing to run the business may cause owners to avoid the subject until they need to sell. There are, however, steps an owner can take to alleviate the stress and uncertainty of selling, and to help achieve […]

Preventing Post-Acquisition Disputes

Advisory

Posted March 6, 2023

The recent battle between Elon Musk and Twitter highlights a familiar challenge in the M&A lifecycle: disputes between buyers and sellers after a deal has been struck. The Musk-Twitter dispute was unusual in that the deal had not yet been finalized—most disputes occur post-transaction—yet it shares much in common with the disagreements that result in […]

Washington’s New Capital Gains Tax Is Being Enforced

Legislation

Posted February 24, 2023

The 2021 Washington State Legislature enacted a new 7% excise tax on long-term capital gains, effective for sales or exchanges of capital assets on or after January 1, 2022. Although the tax is being challenged as an unconstitutional income tax under the state constitution, the Washington Supreme Court has allowed the tax to be enforced […]

Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

Industry Tax Tips

Posted February 13, 2023

Introduction The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on the real estate and construction industry. The legislation could provide a significant financial boost for […]

A Look Ahead for Life Sciences: Predictions for the Industry in 2023

Industry

Posted February 8, 2023

The life sciences industry has seen monumental change over the past few years because of the COVID-19 pandemic, low cost of cash and the resulting spike in investment. At the same time, rising inflation, low valuations and economic instability have recently led to uncertainty and unpredictability within the industry in the last year. However, life […]

Ask These Questions Before Pursuing An M&A Transaction

Tax Tips

Posted February 1, 2023

For life sciences companies, M&A and collaborations are a key strategy for growth, building product pipelines and getting products to market as quickly as possible. According to BDO’s Life Sciences CFO Survey, 33% of CFOs planned to pursue M&A in 2022, up 25% from the 2021 survey. With valuations coming down from record highs and […]

Featured Posts

IRS Grants Withholding Agents Temporary Exemption from Form 1042 e-File Requirement

Understanding S Corporation Compensation: Navigating IRS Guidelines for Shareholder-Employees

VSH CPAs Announces Promotion of Robert Dowdle to Senior Assurance Manager

Top 10 Best Practices to Address State Unclaimed Property Programs

2023 Inflation Adjustments Impact Qualified Small Businesses, Business Interest Limitation Exemption and Expensing of Depreciable Assets

Washington Supreme Court Upholds Capital Gains Tax as Constitutional

Washington’s Online Reporting System for Capital Gains Tax is Now Live

Forced Labor and Proving the Negative with U.S. Customs

Get informed on the the new WA Cares Fund program

Preparing to Sell Your Business

Preventing Post-Acquisition Disputes

Washington’s New Capital Gains Tax Is Being Enforced

Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

A Look Ahead for Life Sciences: Predictions for the Industry in 2023

Ask These Questions Before Pursuing An M&A Transaction

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