This past week marked the Annual Meeting of UHY International, hosted by the U.S. firm. The Annual Meeting, held this year in Chicago, includes the opportunity for tax practitioners from all over the world (currently 255 offices in 87 countries) to devote an afternoon to sharing updates on cross-border planning, exchanging ideas on various technical specialties, and stoking their passion for serving clients around the globe. As Chair of the Tax Special Interest Group, it was my responsibility and privilege to chair the Tax Session.

On behalf of everyone at UHY Advisors, thank you for attending our UHY AND BLACKLINE ROUNDTABLE on September 26, 2012. We hope you found the presentation to be informative and helpful.

John Wolfgang, one of the founding members of UHY International (UHYI), today concluded his term as Chairman of the global organization he helped establish more than a quarter of a century ago and which today links nearly 260 cities across 87 member nations. Wolfgang, managing director of UHY Advisors NY and a partner in UHY LLP, served as board chair of the global network of independent accounting and consulting firms since 2007. During his tenure, UHYI increased its geographical reach by more than 40 percent with member firms in 87 countries.

UHY Advisors has been designated a Common Security Framework (CSF) Assessor by the Health Information Trust Alliance (HITRUST), authorizing the firm to perform the healthcare industry data security assessments most widely recognized by HIPAA, HITECH, states, and healthcare industry participants.

Please join us for this quick hitting, early morning interactive discussion Aimed at business owners with 25 or more employees. 

It is usually a good idea for a company to save money for a rainy day. Unfortunately, business owners can run into serious tax trouble if they sock away too much cash. The tax trouble comes from the Accumulated Earnings Tax which is a tax on corporations buried in a little noticed Subchapter of the Internal Revenue Code. Although many businesses have tended to ignore this tax, the IRS is fully aware of it and is not shy about trying to impose it whenever it feels that "excessive" funds are being accumulated by a corporation.

With Congress only now coming back in the week of September 10, 2012 from its traditional August recess, there is not too much to report for September 2012. Consequently, with the 2012 Presidential election almost here, it seems appropriate to compare and contrast in general terms the tax policies being advanced by President Obama and former Governor Romney. It is likely that the policies being advanced now by the winner of the November 6, 2012 election will impact not only 2013, but also 2014 and beyond.

Shakespeare may not have had taxpayers in mind when he gave Juliet the line, "What's in a name?" But a name, in the sense of what label international parties affix to their cross-border agreements may cause unintended and expensive tax consequences, depending on which countries are involved. The U.S. has long taken the approach that the substance of an arrangement, rather than what the parties name it, will govern its tax treatment. Other countries may place greater emphasis on how an agreement is titled, which can result in pitfalls as well as opportunities for tax planning, such as those examined here.

States have been active in the unclaimed property area over the last few months. Delaware, Iowa, and Minnesota have all either recently enacted or currently offer unclaimed property voluntary compliance/disclosure programs or amnesties.

UHY Advisors, a full‐service national tax and consulting firm, will host an exclusive networking breakfast along with BlackLine Systems from 8:00 a.m. to 10:30 a.m. on Wednesday, September 26 in their Farmington Hills office training facility.