Kevane Grant Thornthon LLP

Accesa la presentación de Kevane sobre los aspectos contributivos generales, propósito y estrategias para maximizar la planificación sucesoral en Puerto Rico.

Tax Rate applicable to partial tax waivers

Employee Retention Benefit- PRTD opens window for claims

Filing of the Estate Tax Return

  • Audit - FASB Board amends credit losses guidance 
  • Tax - Puerto Rico Tax Reform signed into law
  • Advisory - The buy-side of a deal
  • Outsourcing - Rules for the deposit of withheld income tax

The Department of the Treasury has issued the Internal Revenue Informative Bulletin 18-21, which postpones the due dates for certain procedures and transactions with the Department as the second rollout of the Internal Revenue Unified System (“SURI”) approaches.

  • Audit - ASU allows private companies to elect out of VIE guidance
  • Tax - Puerto Rico individuals 2018 year end tax planning
  • Advisory - Small expenses, big losses
  • Outsourcing - New filing rules W-2PRs and Informative Returns

Puerto Rico issues its own Opportunity Zone legislation

The U.S. Tax Reform created a new rule under the U.S. Internal Revenue Code of 1986, that allows investors to defer the recognition of capital gains by investing in a Qualified Opportunity Fund that invests in Qualified Opportunity Zones. As part of this legislation, almost 95% of Puerto Rico was designated as an Opportunity Zone. Following the federal government’s lead in this area, the Puerto Rico House of Representatives submitted Bill No. 1887 to create the “Act for the Development of Opportunity Zones and Economic Development of 2018”.

  • Audit - Targeted improvements to new leasing guidance ASC 842
  • Tax - Puerto Rico tax reform is set to be approved
  • Advisory - Zero- Based Budgeting: operations enhancement or growth constraint?
  • Outsourcing - Requirement for the payment of Christmas Bonus

  • Audit - Preparing for the new lessor accounting standards
  • Tax - Amendment to Act 20-2012, The Export Services Act
  • Advisory - Design for revenue recognition success, not just compliance
  • Outsourcing - PRSIF issued the premium notices for 2017-2018 and 2018-2019
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