Tax Update: June 2016

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the McGladrey Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest federal, state, and international tax news. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.


  • Pension maximization-a/k/a ‘pension max’
  • Tax treatment of a simple agreement for future equity is not a lock
  • Employer action advised on new health insurance notices
  • Gasoline gallon equivalents for alternative fuel tax credits
  • Deductibility of accrued customer rewards

International Tax

  • International impact of the proposed debt-equity regulations
  • New proposed reporting requirements for foreign-owned DREs

State and Local Tax

  • Colorado department clarifies treatment of electronically delivered software and maintenance agreements
  • Missouri Supreme Court takes narrow view of grocery exemption
  • Tennessee court disallows retailer’s bad debt deduction for third-party write-offs
  • Texas comptroller denies COGS deduction for technology service provider

Source: RSM US LLP
Used with permission as a member of the McGladrey Alliance


As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.


Louis J. Gangi, CPA is a partner in Insero & Company's Tax Department specializing in tax strategies for many of our domestic and international clients. He is well experienced in international and multi-state issues, and is a leader in tax planning ideas and accounting methods. He also oversees the firm's tax policies and procedures. His industry experience includes manufacturing, distribution, real estate, service and professional sports franchises. Lou holds a Bachelor of Science in Accounting from the Rochester Institute of Technology and is a Certified Public Accountant in New York. He is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. Contact Lou at 585.697.9679 or

Tagged with: , , , , , , , , , , , , , , , , , , , , , ,
Posted in Tax

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: