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A Conversation with Yuko Tshuchida, CEO of Hito LLC, on Tax Transformative Planning and Entrepreneurship

In a recent podcast episode of Blueprint CFO Presents, Yuko Tshuchida, the visionary CEO of Hito LLC, provided illuminating insights into the world of tax strategies and entrepreneurship. From navigating the intricacies of tax incentives to fostering a thriving team culture, Yuko shared her expertise and experiences with candor and wisdom. Some of the topics discussed in this episode:

Unlocking Savings with Tax Credits and Incentives: Yuko shed light on how Hito LLC empowers businesses to save money through strategic utilization of tax credits and incentives. By identifying eligible tax breaks and optimizing opportunities, Hito LLC helps businesses maximize their bottom line while staying compliant with tax regulations.

Strategic Tax Planning and Organizational Success: Strategic tax planning plays a vital role in Yuko and Hito LLC‘s success, aligning financial goals with tax strategies to enhance cash flow, mitigate risks, and drive sustainable growth.

The Proactive Approach to Tax Planning: Taking a proactive approach to tax planning is essential in today’s dynamic business environment, allowing companies to stay ahead of regulatory changes and capitalize on available opportunities for financial optimization.

Watch the full episode to learn more.

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IRS: Processing of New ERC Claims Likely to Resume This Spring

The IRS announced that it is likely to lift its moratorium on processing new employee retention credit (ERC) claims later in the spring, though a specific date has not been determined. This pause is intended to allow the IRS to review existing ERC claims with enhanced scrutiny and implement new risk analysis strategies to identify potential fraudulent claims.

The agency continues to process ERC claims submitted before the moratorium, albeit at a slower rate and with increased scrutiny. The crackdown on fraudulent ERC claims, prompted by concerns about pop-up businesses exploiting the program, has been ongoing, with the IRS intensifying audit work and criminal investigations.

IRS Commissioner Danny Werfel emphasized the agency’s commitment to combating ERC fraud while expressing concern about its impact on small businesses.

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Bipartisan Tax Bill – HR7024 and its impact on section 174

As of January 2022, there is no specific information available about a Bipartisan Tax Bill named HR7024. However, these are some potential benefits and impact that could be included in a bipartisan tax bill:

Benefits:

  • Simplification of Tax Code
  • Middle-Class Tax Relief
  • Business Incentives
  • Support for Families
  • Infrastructure Investments
  • Environmental Incentives
  • Revenue Neutrality
  • Support for Charitable Giving

Impact to Clients:

  • Tax Rates
  • Deductions and Credits
  • Business Provisions
  • Estate Tax
  • Tax Planning
  • Overall Economic Impact
  • Compliance and Reporting

For smaller companies burdened by increased tax liability due to the amortization required under Section 174, the bill provides temporary relief for domestic R&E, potentially easing immediate cash flow challenges; however, the sunset provision in 2025 adds a layer of uncertainty to their long-term planning, especially considering the inseparable relationship between Sections 41 and 174.

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Welcome To The Team!

         Arturo Castellanos                       Rick Patel                           Khai Nguyen                     Matthew Bernardo                                                                                                                                                                                                                           Sales Development                  Project Manager                       Tax Manager                      Sales & PM Support

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Contact us today to schedule a consultation with our experienced tax professionals.