Larson Gross

Its Team Member Tuesday! Meet Cole Voorhees, an A&A Senior Manager at Larson Gross!

Cole is passionate about serving nonprofit organizations, helping mission-driven clients navigate the financial and operational challenges that allow them to focus on making a difference in their communities. He enjoys building lasting relationships with clients and partnering with them to support the important work they do every day.

Outside the remote office, Cole loves exploring the Carolinas with his fiancée, Alee, and their adventurous pup, Moose. Whether they're discovering a new coastal town, hiking scenic trails, or checking out local restaurants, they're always up for their next adventure together.

Cole's commitment to serving others, paired with his approachable nature and genuine curiosity, makes him an invaluable part of our team and a trusted advisor to the clients he serves.

We're grateful to have you on the team, Cole!

Washington tax law is changing on several fronts, and timing matters.

Recent legislation affects high-income individuals, estates, businesses, vehicle purchases, services, and several industry-specific activities. Key developments include:

• A new 9.9% millionaires’ tax and elective pass-through entity tax beginning in 2028
• Changes to Washington’s capital gains and estate taxes
• New luxury vehicle and transportation-related taxes
• Revised B&O tax rates, surcharges, and small-business relief
• Expanded sales tax on certain services, with some future changes tied to ongoing litigation

Because these provisions take effect at different points between 2025 and 2029, understanding both what changed and when it applies is essential.
Our latest article breaks down the major updates and highlights the dates Washington businesses and individuals should have on their radar.

Read the full update: https://na2.hubs.ly/H07jHjb0

Tax rules may be changing by the year, but you do not have to sort through the fine print alone. Connect with your Larson Gross advisor to discuss how these developments may affect your planning.

For Taiwanese semiconductor companies expanding into the U.S., tax planning should start before the U.S. entity does. A few engineers supporting a customer. A first U.S. hire. Spare parts stored locally. A service center. These can feel like incremental business decisions, but each can change a company's U.S. tax exposure.

And with no comprehensive U.S.-Taiwan income tax treaty currently in force, questions around withholding, transfer pricing, employee taxation and cross-border payments deserve particular attention.

Andy Shieh, Senior Manager and member of the Larson Gross iTax team, outlines 10 issues Taiwanese semiconductor and advanced manufacturing companies should consider before establishing or expanding U.S. operations.

The key takeaway: Don't treat U.S. tax planning as something that begins with the first tax return. It should be part of the expansion strategy from the start.

Read the full article to learn what companies should consider before moving people, products and capital into the U.S.

https://na2.hubs.ly/H075clG0

Paying millions in foreign tax does not necessarily mean receiving an equivalent U.S. foreign tax credit.

For investors with significant foreign long-term capital gains or qualified dividends, the interaction between preferential U.S. tax rates and the foreign tax credit limitation can produce an unexpected—and potentially expensive—result. Even when substantial U.S. tax is owed, a portion of the foreign taxes paid may not be available as a current-year credit.

This issue frequently arises when selling shares in a foreign company, disposing of a concentrated overseas investment or receiving significant qualified dividends.
The outcome is often predictable, but the planning conversation needs to happen before the transaction. Modeling credit utilization, evaluating whether gains should be staged and forecasting future carryforwards can help investors understand their potential exposure and identify available planning opportunities.

Read more here https://na2.hubs.ly/H070mv50

Contribution accounting may sound technical, but getting it right helps nonprofits tell a clearer story about their resources, commitments and impact.

Our latest article, Nonprofit Contributions: Why Getting Recognition Right Matters, explores how nonprofits can distinguish contributions from exchange transactions, understand the difference between donor restrictions and donor conditions, and create a consistent process for reviewing funding arrangements.

Thoughtful contribution recognition supports more than compliance. It strengthens transparency, provides boards with better information, builds confidence with donors and grantmakers, and helps leadership stay focused on advancing the organization’s mission.

Read the article:
https://na2.hubs.ly/H06XZyr0

Its Team Member Tuesday! Meet Miles, an A&A Senior Manager at Larson Gross!

Miles enjoys helping clients navigate complex accounting and assurance matters while building the kind of genuine relationships that make the work meaningful. He believes that understanding the people behind the numbers is just as important as understanding the numbers themselves.

When he's away from the office, you'll most likely find him outdoors with his wife and their cattle dog, Juno. Having grown up around the water, Miles has always been drawn to life on the coast. Whether he's sailing, foiling, or finding any excuse to spend a day on the water, that's where he feels most at home.

His adventurous spirit, curiosity, and love of connecting with people are just a few of the qualities that make Miles such a valued member of our team.
We're grateful to have you on board, Miles!

Community is at the heart of what we do. Larson Gross was honored to support the Skagit Jr Livestock Sale and celebrate the hard work, dedication, and spirit behind this special event. Tanya Silves and our team are proud to give back to the communities that give so much to us.

Thank you to Larson Gross for purchasing our 4-H Grand Champion Goat

One of our specialty areas at LG is serving nonprofits, and we greatly value the relationships we build with these organizations. We’re committed to helping amplify their voices, expand their impact, and bring greater awareness to the incredible work they do in our communities.

Today, we’re proud to feature Salish Sea Deaf School!

Salish Sea Deaf School is dedicated to providing a bilingual and bicultural education for deaf and hard of hearing students, fostering a learning environment where American Sign Language and English are both embraced. Through an inclusive and language-rich approach, they empower students to build strong identities, develop confidence, and achieve academic success.

Their vision is a world where deaf and hard of hearing individuals thrive in an equitable society—fully supported, understood, and celebrated for their unique strengths and perspectives.

At Larson Gross, we’re honored to support organizations like Salish Sea Deaf School. We believe in building meaningful partnerships and creating opportunities and lasting impact for those they serve. Because when every voice is supported, our communities become stronger and more connected.

Innovation can take many forms, and your business may be doing more research and development than you realize.

We’ve updated our R&D Tax Credit handout to help businesses better understand the Research & Experimentation Tax Credit, including potentially qualifying activities, eligible costs, documentation considerations and common misconceptions.

You do not have to be developing the next groundbreaking invention to take a closer look. Your Larson Gross advisor can help evaluate your activities, consider the potential benefit and determine the right next steps for your business.

Explore the updated guide:
https://na2.hubs.ly/H06XSn40

Expanding into the U.S. is often treated as an entry decision. But the choices made at the beginning can shape the value and flexibility of the business years later.

Our latest article, Planning Your U.S. Entry With the Exit in Mind, explores why Canadian businesses should consider a future sale, recapitalization, carve-out or private equity investment when establishing U.S. operations.
Entity structure, financing, intellectual property ownership, transfer pricing and documentation can all influence due diligence, negotiating leverage and the outcome of a future transaction.

The goal is not to predict the exit. It is to preserve optionality.
Thoughtful cross-border planning can help keep your U.S. business transaction-ready while aligning today’s tax strategy with your long-term objectives.

Read the article:
https://na2.hubs.ly/H06XXMk0