Practice Management

Chevron Corp. used a shell company in a tax haven to escape hundreds of millions of dollars in Australian taxes, according to a 2015 court ruling. The subsidiary, which allowed Chevron to eliminate Australian taxes on $1.7 billion in profit earned there, wasn’t secreted away on a remote tropical island—it was set up in the very mundane locale where corporate secrecy was born: Delaware.

TaxAct plans to launch a new sweepstakes next week for tax professionals to celebrate the end of tax season.

Texas storm victims, including those in the Houston area, have until September 1 to file their returns and pay any taxes due, the IRS said.

Market segmentation and why your firm should be doing it

REDW LLC, one of the Southwest’s 10 largest accounting firms, has elected Steve Cogan as managing principal, succeeding Ron Rivera, who has served as firm-wide managing principal for the past 15 years.

Sikich LLP plans to acquire the assets of Brockman, Coats, Gedelian & Co., BCG Systems, Inc. and BCG Wealth Advisors, LLC in the biggest acquisition ever for the Illinois-based firm.

Highlights of some of our favorite tax-related blogs from the past week.

As a general rule, the cost of commercial real estate improvements is recovered over a painfully long period of 39 years via straight line depreciation only.

Rebecca Newton-Clarke, a senior editor/author at Thomson Reuters’ Checkpoint, discusses some of the sales tax issues that are relevant to e-commerce, including nexus, in this video.

Global shipping and international trade have been reserved historically for big companies with the resources required to manage the disparate steps involved in moving shipments worldwide. After managing “big trade” for some of the largest companies in the world, I believe the real global trade opportunity is with small and midsize businesses. But SMBs are likely flying blind (and under your radar); they need your help.