The firm provides professional services to more than 55 power generation facilities owned by international and domestic private companies and private equity firms. The scope of our contributions ranges from technical accounting, tax consulting, reporting, and even installing retail call center software for one utility.
Our professionals command an understanding of the complex regulatory environment and accounting issues, and our multi-disciplined teams create a seamless service approach for our clients.
The US Senate approved legislation, which the House already passed, to extend for one year more than 50 tax provisions that had expired at the end of 2013. The pending retroactive enactment of this legislation will impact the 2014 taxes for many individuals and businesses.
As the US and Europe continue their economic recovery (albeit slowly), this time around, OEMs (Original Equipment Manufacturers) want to have more insight into their supplier relationships.
The USA enjoys some of the lowest gasoline pump prices among the major world economies, according to a new study by UHY, the international accountancy network. UHY explains that the USA has an extremely low tax rate on fuel, levying just 13% on gasoline and 12% on diesel, considerably less than many other major developed economies, in particular European countries.
What are disruptive technologies, you ask? The term was first used by Harvard Business School professor Clayton M. Christensen to describe a new technology that unexpectedly displaces an established technology. In his book, The Innovator's Dilemma, Christensen separates new technology into two categories: sustaining and disruptive. Sustaining technologies are based on incremental improvements to an established technology, whereas, disruptive technologies can be defined as "simple, convenient-to-use innovations that initially are used by only unsophisticated customers at the low end of markets". Christensen has stated that large companies tend not to pay attention to these disruptive technologies because they don't satisfy the demands of high-end users - at least, not at first.
A directive has been issued by the Large Business & International Division (LB&I) simplifying the approach in determining who bears the benefits and burdens of ownership in a contract manufacturing arrangement to claim a deduction under section 199 (DPAD).