Entrepreneur's Playbook

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Frank Landreneau, one of our international tax directors. Frank, welcome back to the Playbook.

Frank: Thank you, Jen. Great to be here.

Jen: So, we’ve done a whole series on international tax and the impact on tax reform. Are there any incentives to bring business to the United States?

Frank: Jen, I’m glad you asked about that. Remember last time we talked about the so-called GILTI tax?  Well, there’s something that’s kind of the corollary to that, and it’s called Foreign Derived Intangible Income. The purpose behind it is to incentivize companies to do business here in the United States.

Jen: So, what do they need to do with that Foreign Derived Intangible Income?

Frank: Well, it sounds kind of like a funny deal. Originally it was meant to incentivize companies that had intellectual property here in the states and tax it at a favorable rate, but it’s actually much more than that. It’s a special rate on goods and services that are provided to foreign customers that use those goods and services outside the U.S.

Jen: Okay. Is there any specific industry that this targets or it’s kind of across the board?

Frank: It really is across the board. It’s really meant for exporters of goods primarily, but it also could apply to exporters of services. So, if you’re providing professional services, for example, for a client that may be outside the U.S.

Jen: Well, great. I know there’s a lot more detail that we need to get into, and can we get you back to talk about it?

Frank: That’d be great. I’d love to dig in.

Jen: Perfect. To learn more about our international topics, visit PKFTexas.com/internationaldesk. This has been another Thought Leader production brought to you by PKF Texas the Entrepreneur’s Playbook.


Karen: This is PKF Texas Entrepreneur’s Playbook, I’m Karen Love, Host and Founder. Today I’m here once again with Frances Castaneda Dyess; she’s the president of the Houston East End Chamber of Commerce. Welcome back once again.

Frances: Thank you Karen for having me back.

Karen: Well, you know I found it really cool that Houston may benefit from shipments that are coming directly here and I would like to know about another business disruption where Houston’s going to win.

Frances: Absolutely. Well you know flowers are abundant, you see them everywhere here in the city of Houston, but did you know that they actually go somewhere else and then they’re flown into Houston?

Karen: No I didn’t.

Frances: It would be wonderful if they would come directly here so I do know that the port is working with Colombia. There was a test program where flowers came on a shipment, however there were some complications and due to government agencies they arrived and they weren’t in the best quality, so the tests are going to continue. And wouldn’t it be wonderful once that test has been resolved all these flowers would come here immediately? New businesses can open around the port and then everyone else will benefit from it.

Karen: That would be fantastic. I had no idea so thank you for sharing that with us and our audience.

Frances: You’re very welcome, thank you.

Karen: So for other port related topics visit PKFTexas.com/portadvisoryservices because this has been another Thought Leader production brought to you by PKF Texas Entrepreneur’s Playbook.

Byron: Hi, my name is Byron Hebert, and this is a quick Tool Time Update brought to you by PKF Texas and The Entrepreneur’s Playbook. What I want to talk to you today about is FMEA, Failure Mode Effect Analysis. And the purpose of this tool is to help you detect risk areas in your processes in your business, and then maybe if you can detect where the risk areas are you can do something to reduce those risks. So let’s talk about how we would use this tool.

Continue Reading How to Detect Risk Areas in Your Business