R&D Tax Credits in Silicon Valley – Interview with Moss Adams’ Carolyn Driscoll

The Moss Adams Informed team recently sat down with Carolyn Driscoll, Senior Tax Manager at Moss Adams.

Carolyn, what areas do you specialize in?
I specialize in federal and state research tax credits. These are lucrative benefits for companies who are engaged in developing new and/or improved products and/or processes. I work with a wide range of companies in many different industries including software, high- tech, life science, telecommunication and other companies that design and develop new or improved products.

In your work with technology companies, are you seeing any trends with R&D tax credits?
Yes. The taxing authorities, particularly California, have increased the scrutiny that they apply to technology companies and are requiring increased levels of documentation to substantiate credits claimed.

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2013 Year-End Tax Planning Guide

Will your tax rates increase this year? Or stay the same? Either way, there are still plenty of planning opportunities to consider through the end of 2013 to help you manage your taxes and pay what you owe—no more and no less.

Our 2013 Year-End Tax Planning Guide provides you with a thorough checklist for yourself, your family, and your business, with a particular focus on what’s new this year, including:

  • Net investment income tax and additional Medicare tax for individuals
  • Health insurance provisions for individuals and businesses
  • Tangible property regulations for businesses

Are you doing everything you can to keep more of what you’ve earned?

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Passing the Torch: Keys to Establishing an Effective Succession Plan for Your Business
Eye on Money: How to Save for Retirement

Eye on Money: How to Save for Retirement

In this edition of Moss Adams Wealth Advisors’ Eye on Money, articles include:

  • Estate Planning Reminders
  • Leaving a Job? What to Do with Your 401(k)
  • Important Dates for College-Bound Seniors
  • How to Avoid Fraud
  • How to Save for Retirement without a 401(k)
  • What on Earth Are Marginal and Effective Tax Rates?
  • Create a Stream of Income with an Immediate Annuity

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Passing the Torch: Keys to Establishing an Effective Succession Plan for Your Business
Eye on Money: How to Minimize Taxes on Your Investment Income

Why Performance-Based Compensation Is on the Rise

Employee compensation is typically the single largest operational expense for organizations big and small, yet businesses, not-for-profits, and governmental entities all tend to struggle to use compensation strategically. After all, people are your most important asset. Do you have the right compensation structure in place to attract, incentivize, and retain them?

There are a number of industry dynamics converging to make compensation a critical success factor for organizations in all industries. These include an expected increase in ownership transition and management succession, a shortage of qualified workers, and lack of preparedness.

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
When Should Companies Start Preparing for New Revenue Recognition Rules?
Treasury Management: An Often Overlooked Tool for Competitive Advantage

Passing the Torch: Keys to Establishing an Effective Succession Plan for Your Business

Jay Silverstein, principal in the Moss Adams Wealth Services Group, was interviewed in Smart Business on creating a succession plan for your business.

Owners of family or middle-market businesses invest a tremendous amount of time and energy — sometimes their entire adult lives — building a successful business. Yet they often spend little time working on their succession plan.

“The business world is littered with second and third generations that don’t succeed in continuing the business,” says Jay Silverstein, principal in the Wealth Services Group at Moss Adams LLP. “One of the big reasons is that there wasn’t a well thought-out succession plan.”

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Eye on Money: How to Minimize Taxes on Your Investment Income
Do Bonds Still Belong in Your Portfolio?

A Look at the IRS’s Final Tangible Property Regulations

As we reported earlier this month, the IRS has issued final regulations affecting tangible real and personal property—the culmination of a nearly 10-year project that will have a broad-reaching impact on almost all taxpayers. The final regulations, along with certain rules the IRS is reproposing, generally simplify and clarify the temporary regulations issued in late 2011. The rules should be welcome news for taxpayers who were concerned about the administrative challenges imposed by the 2011 temporary regulations. The final and reproposed regulations are generally effective for tax years beginning on or after January 1, 2014 (or for amounts paid or incurred in tax years beginning on or after January 1, 2014).

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Certain Property Will Soon Be Exempt from California’s Sales and Use Tax
Eye on Money: How to Minimize Taxes on Your Investment Income

Cultivating the Deal: An M&A Guide for Private Middle-Market Companies

What must companies consider and execute prior to and during a business acquisition? Whether you’re on the buy or sell side of a transaction, it’s critical to conduct thorough due diligence, engage in strategic planning surrounding integration, and pay close attention to the many detailed components related to structuring the actual transaction. In this three-part series, we examine all three areas to help you make smarter, more informed decisions when your next M&A opportunity arises.

Part 1: Increasing the Price of Your Business
Part 2: Facilitating the Transaction Process
Part 3: Completing the Transaction


If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Raising Capital? Know All Your Options
When Should Companies Start Preparing for New Revenue Recognition?

Offering Loans from Your Retirement Plan? Know Your Fiduciary Responsibilities

Many defined contribution plans offer loans to participants. Such loans are a great convenience to employees who need access to their funds immediately, but there are potential pitfalls for employers. What are they, and how can you avoid them?

In general, plan sponsors should periodically verify that the terms of new loans issued conform to the plan’s policy, loan payments are being collected and remitted to the plan in a timely manner, and interest rates charged are appropriate and reasonable. The loans, which are considered investments of the plan, must also be available to all participants on a reasonably equivalent basis and be adequately secured.

Many third-party administrators handle the loan application process and work with the custodian to issue the check to the participant. What part should the plan sponsor play in monitoring participant loans?

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

You may also be interested in:
Benefits and Compensation Quick Glossary Tip: Required Minimum Distribution
How to Handle Employee Benefit Plans and Audits

Easing the Impact of the Net Investment Income Tax for Shareholders of Foreign Entities

The new net investment income tax, enacted under the Affordable Care Act, subjects higher-income taxpayers to a 3.8 percent surtax on certain types of passive income. The surtax is in effect for 2013. However, the reporting requirements are pending and—as they currently stand—would impose a significant burden on individuals with direct or indirect interests in any kind of foreign corporation.

In response, Christine Ballard, an international tax partner at Moss Adams and chair of the International Tax Technical Resource Panel for the American Institute of Certified Public Accountants, has helped the AICPA draft a comment letter to the IRS, urging it to reconsider its proposed approach. With the surtax in effect for the coming tax year, the urgency for the IRS to revise and finalize its proposed rules is clear.

Read more about key developments, their potential impact, and next steps in Christine’s candid interview with Bloomberg BNA:

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If you have any questions, please contact the team at Moss Adams, or your accounting professional.

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IRS and Treasury Extend FATCA Deadline
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