International Tax Compliance: What CPAs Often Overlook

International Tax Compliance: What CPAs Often Overlook

As businesses become increasingly global, international tax compliance [https://mcguiresponsel.com/international-tax/international-compliance/] is no longer just a concern for large multinational corporations. Even routine business decisions—such as hiring an employee overseas, opening a foreign bank account, or forming a foreign entity—can create significant U.S. reporting obligations. In this episode of Let's Talk Tax, Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] sits down with Greg Lambrecht, CPA, [https://mcguiresponsel.com/about/meet-the-team/greg-lambrecht-cpa] to discuss the international tax compliance issues CPAs often overlook and the costly consequences that can result when those requirements are missed. The discussion covers how the Tax Cuts and Jobs Act (TCJA) increased the complexity of international reporting, common filing requirements such as Form 5471 [https://mcguiresponsel.com/blog/decoding-form-5471-reporting-requirements-penalty-and-relief-for-u-s-shareholders-of-controlled-foreign-corporations/] and FBAR [https://mcguiresponsel.com/blog/understanding-fbar-compliance-the-case-of-patricia-l-bowden/], examples of businesses unknowingly creating foreign tax exposure, and why proactive planning is critical before expanding across borders. Whether you're advising clients with international operations, foreign investors, overseas employees, or foreign financial accounts, this episode offers practical insights into identifying risks, avoiding penalties, and navigating an increasingly complex global tax environment. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, June 6th, for the next Let's Talk Tax episode!

How Credits & Incentives Follow Business Growth

In this episode of Let’s Talk Tax, TJ Sponsel [https://mcguiresponsel.com/team/tj-sponsel/] sits down with Chad Collier [https://mcguiresponsel.com/team/chad-collier/] to discuss how tax credits and economic incentives [https://mcguiresponsel.com/location-advisory/consulting/] can support business expansion, relocation, redevelopment, and capital investment projects. The conversation explores common misconceptions around incentive eligibility, including why many small and mid-sized businesses assume they are “too small” to qualify. TJ and Chad explain how companies can preserve leverage by engaging early in the site selection [https://mcguiresponsel.com/location-advisory/site-selection/] and exploratory phase before committing to a location, filing permits, or beginning construction. They break down the difference between statutory and discretionary incentives, discuss how state and local governments evaluate projects, and explain why flexibility in location decisions can materially impact available savings. The episode also covers common incentive tools [https://mcguiresponsel.com/blog/maximizing-returns-navigating-state-and-local-tax-credits-for-multifamily-and-mixed-use-developments/] such as property tax abatements, tax increment financing (TIF), job creation credits, low-interest financing, equipment financing, and workforce training grants. TJ and Chad also highlight one of the most overlooked aspects of incentive deals: compliance and reporting [https://mcguiresponsel.com/location-advisory/incentive-compliance-management/]. Without proper follow-through after project approval, businesses may fail to realize negotiated savings. Topics discussed include: • Tax credits and incentives for business expansion • Site selection strategy and location advisory • State and local economic development incentives • Property tax abatements and TIF incentives • Job creation and capital investment credits • Timing and leverage in incentive negotiations • Statutory vs. discretionary incentives • Incentive compliance and reporting requirements • Real-world incentive project examples and ROI benchmarks Examples discussed include: • A $2.3M manufacturing project that secured approximately $230K in incentives • An $8.5M expansion project that generated nearly $1M in tax abatements and incentive savings As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 30rd, for the next Let's Talk Tax episode!

From Bonus Depreciation to QPP: Planning Opportunities Under OBBBA

In this episode of Let's Talk Tax, host Dave McGuire [https://mcguiresponsel.com/team/dave-mcguire/] sits down with Mike Hammel, MAcc [https://mcguiresponsel.com/team/michael-hammel/], to unpack how OBBBA depreciation changes are reshaping tax planning for CPA firms, manufacturers, and commercial real estate owners. The discussion explores how 100% bonus depreciation [https://mcguiresponsel.com/blog/irs-notice-2026-11-what-cpas-need-to-know-about-bonus-depreciation-post-obbba/] planning is being impacted by binding contract rules [https://mcguiresponsel.com/blog/how-the-new-binding-contract-rule-affects-property-purchases-and-self-constructed-properties/], construction timelines, acquisition dates, and placed-in-service requirements — including why some taxpayers expecting full expensing may instead be limited to 40% bonus depreciation. Dave and Mike also break down how cost segregation studies [https://mcguiresponsel.com/fixed-asset-services/cost-segregation/] accelerate deductions by identifying 15-, 7-, and 5-year property within commercial buildings, and why pairing a building acquisition with future renovations can create additional opportunities through Qualified Improvement Property (QIP) [https://mcguiresponsel.com/blog/understanding-bonus-depreciation-and-section-179-deductions/]. The episode then dives into Qualified Production Property (QPP) [https://mcguiresponsel.com/blog/irs-interim-guidance-on-qualified-production-property-notice-2026-16/], one of the most talked-about manufacturing incentives under OBBBA. Mike explains how certain manufacturing-dedicated real property may now qualify for bonus depreciation, what areas of a facility may or may not qualify, and why updated regulations are helping CPA firms navigate prior gray areas. Additional topics include: * Manufacturing-focused tax incentives under OBBBA * Cost segregation [https://mcguiresponsel.com/fixed-asset-services/cost-segregation/] planning for new construction and acquisitions * Passive activity and deduction limitation considerations * 3115 look-back studies and retroactive cost seg opportunities * Why QPP is a current-year election and cannot be claimed later * How depreciation planning interacts with Section 174 [https://mcguiresponsel.com/blog/section-174-and-rd-credit-compliance-what-cpa-firms-must-do-before-year-end/] and NOL limitations * Why 2026 may become a major tax planning year for CPA firms Whether you advise manufacturers, real estate investors, or closely held businesses, this episode highlights why proactive depreciation planning is becoming more critical than ever. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 23rd, for the next Let's Talk Tax episode!

Top Growth Markets—and Why Office Vacancy Is Creating Hidden Opportunities

Host Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] sits down with Matthew Barnhill [https://mcguiresponsel.com/about/meet-the-team/matthew-barnhill] , who leads McGuire Sponsel’s property tax [https://mcguiresponsel.com/fixed-asset-services/property-tax/] practice from the Dallas office, to discuss how elevated office vacancy rates in major growth markets are creating hidden property tax opportunities. From Dallas and Austin to Nashville, Charlotte, and Indianapolis, many office properties continue to face slower leasing activity and higher vacancy levels post-COVID. Matthew explains how commercial office buildings are commonly valued using the income approach, why assessors may still assume stabilized occupancy, and how that can lead to overvaluation and higher property tax liabilities. The conversation explores structural vs. temporary vacancy, how vacancy differs building by building, January 1 valuation dates, Class A vs. older office buildings, office-to-residential conversion scenarios, and how cap rates and net operating income influence assessments. Dave and Matthew also discuss how CPAs can use rent rolls, financial statements, and declining property performance to help identify reassessment opportunities for clients. Whether you're a CPA, commercial property owner, or real estate investor [https://mcguiresponsel.com/industries/real-estate/] , this episode breaks down how changing office market conditions may create opportunities to reduce property tax exposure. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 16th, for the next Let's Talk Tax episode!

What the July 6th R&D Deadline Means for CPA Firms

The July 6 Section 174 deadline [https://mcguiresponsel.com/blog/rd-credits-and-section-174-how-the-big-beautiful-bill-impacts-amended-returns/] is approaching fast, and for CPA firms, the decisions tied to Section 174A [https://mcguiresponsel.com/blog/irs-provides-guidance-on-2024-rd-expensing-rules-for-eligible-small-businesses/] could have major tax planning implications. In this episode of Let’s Talk Tax, host Dave McGuire [https://mcguiresponsel.com/about/meet-the-team/dave-mcguire] is joined by David Seibel, EA [https://mcguiresponsel.com/about/meet-the-team/david-seibel-ea] , to break down what this deadline means for eligible small taxpayers and how CPAs should be advising clients now. They cover the small taxpayer election for retroactively expensing 2022–2024 Section 174 costs, why the July 6 deadline does not override normal statute dates, and the alternative options available on the 2025 return—including one-year or two-year accelerated deductions or continuing amortization. The conversation also explores renewed attention around Section 41 R&D credits, stricter IRS documentation requirements for amended claims, expanded Form 6765 reporting [https://mcguiresponsel.com/blog/form-6765-section-g-how-the-big-beautiful-bill-raises-the-stakes-for-rd-documentation/] (including Section G), and the return of the Section 280C reduced-credit election. With major deduction decisions, state conformity questions, and planning opportunities all on the table, this episode is a must-listen for CPA firms navigating post-tax season strategy. As always, check us out on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.youtube.com/@letstalktaxpodcast], ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/company/letstalktax/], or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.instagram.com/letstalktaxpodcast]. For today's show notes and more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠mcguiresponsel.com/letstalktaxpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://mcguiresponsel.com/letstalktaxpodcast]. Thanks for listening. We will see you next Saturday, May 9th, for the next Let's Talk Tax episode!