Kelsea Balde, Author at Doty Pruett and Wilson, PC

NIL (NAME, IMAGE, LIKENESS): INCOME TAX CONSIDERATIONS FOR STUDENT-ATHLETES

Student-athletes can now enter into name, image and likeness (NIL) contracts for compensation. NIL contracts have major federal and state tax implications, including income tax responsibilities, state nexus and reporting obligations. How should athletes and their advisors navigate compensation issues related to NIL contracts so that there are no tax surprises? We share valuable insight […]

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COLLECTING, MODELING AND SECURING YOUR RESTAURANT’S DATA

Article / Kelsea Balde

The restaurant industry is no stranger to the critical role data plays in running a business. Yet, in many cases the restaurateur struggles to identify the proper data from the sheer volume that may be available through countless sources — POS terminals, online ordering services, social media and more. It’s this array of data sources

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OPTIMIZING AND EMBRACING BEST PRACTICES FOR FINANCE & ACCOUNTING

Article / Kelsea Balde

As market fluctuations and rising interest rates put added stress on internal finance departments, it is wise for organizations to step back and reassess their finance and accounting (F&A) processes and systems. These assessments can help determine whether F&A workflows are enabling timely outputs for reporting, budget forecasting, internal processes like payroll, and other important tasks. Among the many

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INSOURCING, OUTSOURCING, AND CO-SOURCING: WHICH IS RIGHT FOR YOU?

Article / Kelsea Balde

Conventional wisdom often holds that it is most efficient to keep all roles in house, but this is not always the case. If an organization keeps hitting the same internal roadblocks or is looking for a new way to optimize processes, an alternative solution like outsourcing or co-sourcing could prove more efficient. Alternatives to insourcing free up

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IMPACTS OF THE FINAL FOREIGN TAX CREDIT REGULATIONS: CREDIT DISALLOWANCE AND TIMING RULES

Article / Kelsea Balde

The 2021 final foreign tax credit (FTC) regulations make significant changes to the FTC rules for U.S. multinationals. In addition to a variety of other modifications, the final regulations overhaul the 2020 proposed regulations regarding the Section 245A dividends received deduction (DRD) to deny a credit or deduction for certain foreign income taxes paid or

IMPACTS OF THE FINAL FOREIGN TAX CREDIT REGULATIONS: CREDIT DISALLOWANCE AND TIMING RULES Read More »

IS YOUR COMPANY EFFECTIVELY MANAGING TAX RISK?

Uncategorized / Kelsea Balde

The concept of “tax risk” is an increasingly important and regular topic of discussion across organizations and in boardrooms, and for good reason. Businesses that operate across state lines or internationally can in certain cases trigger tax liabilities in jurisdictions where they do not have a physical presence. In addition, many countries are adopting policies

IS YOUR COMPANY EFFECTIVELY MANAGING TAX RISK? Read More »

PROPOSED INFLATION REDUCTION ACT WOULD IMPOSE CORPORATE MINIMUM TAX, CARRIED INTEREST CHANGES

Article / Kelsea Balde

In what many see as an unexpected development, Senator Joe Manchin (D-W.VA.) on July 27 announced that he had reached an agreement with Senate Majority Leader Chuck Schumer (D-NY) on new legislation – the Inflation Reduction Act of 2022 – which is intended to address inflation by paying down the national debt, lower consumer energy

PROPOSED INFLATION REDUCTION ACT WOULD IMPOSE CORPORATE MINIMUM TAX, CARRIED INTEREST CHANGES Read More »

Register Today. Pass-Through Entity Elective Tax

Alert / Kelsea Balde

If you would like to make the election, you will be required to register on Revenue Online before estimated payments can be made.Registration will open June 6, 2022. For the 2022 tax year, the first required estimated tax payment is due June 15, 2022. The first quarter estimate was not required, therefore the estimated payment due on

4 TIPS FOR WORKING WITH A RESOURCE-CONSTRAINED INTERNAL REVENUE SERVICE

Article / Kelsea Balde

Federal tax professionals working to resolve issues with the IRS can attest to the multifaceted impacts of the agency’s resource constraints on taxpayer service. The signs are evident, for example, in the long wait times for calls to be answered, tax return processing delays and increased instances of penalties being assessed against compliant taxpayers. Perhaps

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THE INVESTOR’S DILEMMA: INDUSTRIAL OR MULTIFAMILY?

Article / Kelsea Balde

The global events of the past two years have had a profound impact on real estate, from the disruption to office real estate to the rise of secondary markets. In terms of sectors that have seen positive growth, industrial and multifamily have emerged as clear frontrunners. Multifamily owners and investors have benefited from the shift

THE INVESTOR’S DILEMMA: INDUSTRIAL OR MULTIFAMILY? Read More »

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