Taxation

Understanding the Impact of Incoterms on Import Tax Compliance
What Are Incoterms?
Incoterms, or International Commercial Terms, are globally recognized rules published by the International Chamber of Commerce. They define the responsibilities of buyers and sellers in international transactions, specifically regarding the shipment of goods. Common terms include:

  • FOB (Free on Board)
  • CIF (Cost, Insurance, and Freight)
  • DDP (Delivered

For owners looking to sell their business, it can be a daunting and confusing task. Not only the process itself, but hiring the right team can be difficult, especially when one isn’t well versed in the mergers and acquisitions (M&A) industry. There are two main types of firms who sell businesses – business brokers and M&A firms (also known as

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California FTB Tax Audit Guide: What You Need to Know

What to Expect When You Receive an FTB Audit Letter
The audit process begins with a contact letter from the Franchise Tax Board. This document includes the auditor’s name, contact information, the tax years being audited,

If you were named the executor of a will, this is a tremendous honor. But it’s also a considerable responsibility that involves a variety of executor of a will duties, many of which require precision, legal knowledge, and attention to detail that not everyone possesses. This role is not just a ceremonial or symbolic title; executors play a pivotal role

IRS Audit Adjustments? You Must Notify California’s FTB—Here’s Why
When the IRS audits your return and makes adjustments that increase your tax liability, that’s not the end of the story—especially if you live in California. State law requires you to report those changes to the Franchise Tax Board (FTB), and how quickly you act can significantly impact your exposure to