Announcing New Member, Klug Counsel PLLC in Washington D.C., United States

Integra International is very pleased to announce the admittance of a new member, Klug Counsel PLLC in Washington D.C., United States. Klug Counsel was established in 2021. The firm has 2 partners, 3 directors and 7 professional staff.  Klug Counsel strives to achieve optimal results for clients through close collaboration of professionals across integrated fields including tax, finance, accounting, private wealth planning, and legal.  Their services include tax, accounting, private equity and venture capital formation and advisory, domestic, and international business consulting, mergers and acquisitions, trust and estate planning, and specialized private fund administration.  Their goal is to provide comprehensive, efficient, and professional service through one coordinated team. Klug Counsel is particularly suited to provide sophisticated tax planning and structuring for federal, state, and international taxation to corporations, partnerships, private equity funds, nonprofits, individuals, and family offices.  Mr.… Read More

Kim Beare of FMD Awarded Firm Manager of the Year by CPAFMA

Birmingham, Mich. – Kim Beare, Firm Administrator at Fenner, Melstrom & Dooling, PLC in Birmingham, MI is the 2022 recipient of the CPA Firm Management Association’s (CPAFMA) prestigious Firm Manager of the Year Award (FMAward), which honors senior level firm managers who have significantly impacted their companies. Selection criteria for the FMAward focus on leadership, strategic impact on the firm, and the contribution and oversight of programs that contribute to overall growth, profitability, and fostering employee-friendly company culture. “Fenner Melstrom, & Dooling is a great company to work for. I learn a lot from my involvement with CPAFMA that I’ve been able to bring back ideas and implement to make our firm stronger.” In addition to her role as Firm Administrator, she assists the FMD partners on the Management Committee, which is responsible for strategic planning.… Read More

In Memory of Richard Purcell (Oct 10, 1945 – March 11, 2022)

Richard passed away peacefully at home with family at his side after living with Parkinsons and Leukemia. He is survived by Bertha and his two sons, Ian (Alana) and Glen (Portia) and grandchildren Ethan, Isaac, Seneca, Henry and Evie. After graduation from Beaconsfield High School (QC) in 1963, Richard attended Sir George Williams University. Following the first year of classes he went west to the Banff Springs Hotel for the first of his five summers there and returned to Montreal. He later transferred to Bishops University (Lennoxville, QC) and then graduated with a Business Administration degree in 1969. He had great success with the varsity basketball being part of the championship team in 1967 then captain and MVP in 1969. After graduation from Bishops he married Bertha and moved west to Vancouver where he started his career as a Chartered Accountant.… Read More

Changes Related to the Employee Retention Tax Credit (ERC)

The original Coronavirus Aid, Relief and Economic Security Act (CARES Act) signed into law on March 27, 2020 did not allow employers to both obtain a Paycheck Protection Program (PPP) loan and claim the ERC. The Consolidated Appropriations Act, 2021 signed into law on December 27, 2020, provides an important modification to the CARES Act, now allowing eligible employers to claim the ERC available to the eligible companies in 2021. Read More

Presenting Alec Ross and The Raging 2020s

Friends of Integra International may remember Alec Ross as one of the speakers at our fall, 2019 Conference in Washington, DC., along with his personal connection with several of Integra’s Global Board members. Alec is a former senior advisor to Secretary of State, Hillary Clinton, a Senior Fellow at Columbia University’s School of International and Public Affairs, and the author of the New York Times bestseller, Industries of the Future. Integra is proud to congratulate Alec on the release of his newest book, The Raging 2020s: Companies, Countries, People - and the Fight for Our Future. Read More

The King is back… Cash that is

The importance of cash flow during uncertain times As business owners navigate the challenges of the COVID-19 pandemic and its associated lockdowns, there are many strategies that should be considered to improve their cash flow situation. At Banks Group, we have been speaking to our clients throughout the pandemic. Some are very uncertain and scared, while others are going stronger than ever. It has become very obvious to us that ‘the King’ has made a comeback, as it did during the global financial crisis: CASH is back. Cash is the difference between money out and money in Cash and headroom (ie undrawn finance balances) is critical in situations where operations and output are impacted while staff and establishment outgoings remain fixed.… Read More

Tax Amnesty in Ukraine

According to the Law No1539-9 Ukrainian Parliament introduces tax amnesty for undeclared income and assets, which have been obtained without paying taxes before 2021. Read More

Integra International Regional Chapter Elects New President

Integra International is pleased to announce the appointment of Mark Fiato, CPA, CVA, as Board President for the AAANZ Regional Chapter (North and South America, Asia, Australia and New Zealand). The election took place in May at Integra’s AAANZ Regional Conference. Read More
St. Louis, Missouri, USA skyline at sunset, taken from the water.

Keys to Successful Transition Planning

A CPA firm, just like any of our corporate clients, is a business first and foremost. Like any thriving business, succession planning considerations should be a component of overall strategic planning. For transition plans to be successful, the process should result in a “win-win” situation for all involved. A good succession plan depends on an owner or owners who are willing to relinquish control, decision making, and compensation/net income to the successors according to a structure that works for everyone’s mutual goals. Current ownership needs to identify key leaders within the firm who are ready and willing to buy-in under the same structure and time frame. Transition plans can be accomplished through earn-outs, bank or owner financing, or some combination. Current owners, who are often founding owners, can exit the practice as they desire under a planned succession strategy.… Read More
Aerial view of St. Michaels Golden-Domed Monastery, Ministry of Foreign Affairs and Saint Sophias Cathedral in Kiev, Ukraine

Mandatory Registration of Foreign Legal Entities with Ukrainian Tax Authorities

On January 1, 2021, changes to the Tax Code of Ukraine came into force. According to them, all foreign legal entities operating in Ukraine through their separate divisions (representative offices), including permanent establishments, must be registered with Ukrainian regulatory authorities. Such changes have a significant impact on the parent companies that have representative offices in Ukraine, henceforth not only the representative offices but also the parent companies themselves shall be registered with Ukrainian tax authorities. Thus, foreign legal entities that have separate divisions on the territory of Ukraine, but not registered with Ukrainian regulatory authorities as of January 1, 2021 shall submit documents for registration with the tax authorities of Ukraine. Those foreign legal entities that will register separate divisions on the territory of Ukraine after the entry into force of changes to the Tax Code of Ukraine will be registered with the tax authorities of Ukraine in the process of state registration of a separate division.… Read More