Thought provoking. Useful. Relevant. Our team regularly generates problem solving insights and experiences worth sharing.
Liquidating assets – what’s the current state of the market?
The liquidation value of assets is commonly used as the baseline when assessing the viability of the business by lenders, shareholders, investors and their financial advisors. The demand and pricing for the liquidation of assets is always dynamic. Compounded with the impact of the COVID-19 pandemic, it is even harder to predict with any certainty, ... Read more
Biden’s new tax proposal aims to regulate all paid US tax return preparers
Fuller Landau welcomes President Biden’s tax proposal to vest Internal Revenue Service (IRS) with authority to regulate all paid preparers of US tax returns and establish mandatory minimum competency standards. IRS’ current authority extends only to licensed attorneys, certified public accountants (CPA), enrolled agents (EA) and actuaries. Atto ... Read more
Amendments to Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement
In 2018, new accounting standards for private enterprises (ASPE) were issued under Section 3856 Financial Instruments relating to the classification and measurement of retractable or mandatorily redeemable shares (ROMRS) issued in a tax planning arrangement. These amendments are effective for fiscal years beginning on or after January 1, 2021. What ... Read more
Non-Resident Employer Certification: How it works
With the acceleration of globalization, many businesses are moving to extend their product and service offerings outside their borders. Sometimes this means sending employees to work overseas. In response, the Department of Finance and the Canada Revenue Agency (“CRA”) introduced the Non-Resident Employer Certification in 2015. This was designe ... Read more
Changing trends: The financial impact on food companies
Many well-established food companies have been impacted by three significant and converging consumer trends over the last few years. First, consumers are eating more meals and snacks at home because of the pandemic. Second, there has been a shift, particularly amongst younger shoppers, to purchase products from local or organic producers. Third, th ... Read more