Category: News from our members
FYI International at the 2015 Ft. Lauderdale International Boat Show (By Florida Yachts International)
FYI’s world renowned Brokerage division will be displaying 3 vessels at the same location as its 2014 exhibit (C/D Dock, Slips 48,49,8) ranging from 60ft to 90ft and includes a 2014 66ft Viking Sportfish, a 2013 72ft Viking Princess V72,and a 2008 82ft San Lorenzo SL 82.

Leadership Training on Nov 6th (by K2USA,LLC)
Giving Business Owner Peace of mind thanks to an aptitude test made in Italy (by K2 USA)
Lately the main Italian economic newspaper “Il Sole 24 Ore” recognized the excellent performance in the US market of a Made in Italy aptitude test created by Human Resources pioneers Paolo Ruggeri and Andrea Condello.
Hiring mistakes can be costly in terms of missed sales opportunities and adverse customer relations. More importantly, such mistakes can prove to be highly detrimental on the staff’s morale and productivity. This is a challenge the even the most experienced business owners have to come to terms with. It is precisely to address this universal need for peace of mind that Paolo Ruggeri and Andrea Condello, co-founders of Open Source Management consulting company, have crafted a comprehensive personality assessment tool, the I-Profile Analysis.
Along with a multitude of personnel management and training techniques, thanks to the I-Profile Analysis Mr. Ruggeri and Mr. Condello have been able to help countless business owners avoid hiring mistakes and grow a successful a profitable business built upon its main asset: people. Active for over a decade, OSM has today a world-wide presence with offices in Italy, Brazil, Spain, Portugal, England, Bulgaria and, of course, the United States with the OSM U.S. branch, K2USA.
The I-Profile technology, born from a study conducted by sociologist Thomas Stanley, is simple and incredibly accurate. In fact, the assessment is able to highlight a current or future employee’s strengths and weaknesses, assess whether he/she shares your company values and determine whether he/she will contribute to the company’s success. Depending on the score, the individual’s ability to cope with pressure, stay motivated and build long-term relationships can be assessed and addressed. In other words, our I-Profile Analysis enables business owners to hire people for character and to determine how much it will “cost” to address any identified weaknesses.
Click here to read “Il Sole 24 Ore” article.
Self-employment tax application to LLC members (by Piero Salussolia P.A.)
Recently, the Internal Revenue Service (“IRS”) released an Advice Memorandum, addressing whether members of a Limited Liability Company (LLC), which acted as a management company (the “Management Company”) can be treated as limited partners for purposes of the Self-employment Tax (“SeT”), when such partners perform “extensive services” for the company. The Advice is significant because the application of said tax to LLC’s distributions has been unsettled for years.

Entering last quarter of the year: Second best season for local Real Estate market (By EWM International Realty – Ilaria Belloni)
It is well known in South Florida that right after Labor Day ends, the second best quarter of the year begins for real estate. Making the end of the year a great season for buyers and sellers. Named Top Residential Producer in Coral Gables and South Miami within EWM, Ilaria shows in the second week of September 2015 that the market is highly active and that she can sure do the job. Her negotiating skills and more than 16 years experience position her amongst the top agents. She will care for the contract deadlines, guide the whole process from beginning to end, price accordingly and make transactions happen.
High Street Retail USA liaisons another Italian brand to the United States (By High Street Retail USA)
Socapri, young men and women brand founded in Capri by brothers Carmine and Puglia Marino Cucinella and chaired by Alessandro Ricchiuti, is ready to grow with new distribution strategies.
PUERTO RICO: FISCAL INCENTIVES FOR EXPORTING SERVICES COMPANIES (BY PAOLO STEFANINI)
Puerto Rico has been in economic crisis along the last 10 years and more than 10% of the inhabitants have left the island in this period because of unemployment rate and unemployment rate has been still in the 13-15% range in the last year. In an attempt to re-launch the economy, the previous Government led by Fortuño has promulgated Act 20 and Act 22 at the beginning of 2012 and the current Government led by Padilla is actively promoting these two Acts with the goal of re-launching the local economythrough fiscal incentives to companies and individuals.
While Act 22 is mainly of interest for private equity and hedge fund managers and requires to be resident of the island to take advantage of the fiscal benefit on capital gains, dividend distribution and passive interests, Act 20 does not have any requirement for the owner of the company to reside in Puerto Rico. Act 20 allows a 4% tax rate on income (instead of an up to 39.6% federal income tax rate in the US plus the state tax) through the request of a Exemption Decree (a contract not subject to subsequent legislative changes) to the Secretary of Economic Development that may take 4-6 months to get and last for 20 years, renewable for other 10 years.
The key requirement is that the services must be performed for individuals and entities located outside of Puerto Rico and have no nexus with Puerto Rico. The eligible services are: research and development, advertising and public relations, consulting, advise on trade and business, engineering services and project management, professional services (legal, tax, accounting), centralized management services, electronic data processing, software development, telecom voice and data, call centers, shared service centers, storage and distribution centers, educational and training, hospital and laboratories, investment and financial services.
Voluntary Disclosure (by Property Desk)
Italy has put into effect law number 186/2014 which deals with the Voluntary Disclosure of assets abroad with the possibility of reduced fines. The law follows the normative of FATCA and it will elevate the risk of verification of information exchanged between Italy and the United States.
It is a very complex procedure, whose term will expire September 30th, 2015. The people that it will effect are individuals who have financial assets in the United States, might it be through corporations or real estate, and have not disclosed their assets according to the RW model. The amount due will be determined by the length of time that the assets have been established, if assets were established more than five years ago and never declared, the cost of the Voluntary Disclosure is between 10% and 20% of the investment.
HOW IT WORKS
The taxpayer has to turn over to its accountant all documentation relevant to the purchase and management of the activity abroad. From such documentation, the accountant has to determine the appropriate tax levy’s and reduced sanctions that can be imposed. At which point, the documentation is turned over to the Italian Internal Revenue Service that determines whether to accept the application, if so, the procedure is finalized.
JURIDICAL REPATRIATION VIA TRUSTEE
It is possible to regulate the activities held abroad via the use of an Italian corporation as a trustee by allowing the corporation to maintain the ownership and omitting such information from one’s personal tax returns. This technique, has shown a positive outcome on an individual’s privacy and on the future management of the regulated assets.
WARNINGS
Only well informed and prepared professionals can correctly file and apply for Voluntary Disclosure. Individuals who intend to initiate the procedure must be prepared to bear a significant cost for the indispensable assistance of a professional.
By Andrea Alberghini and Carolina Spera
Grand Opening of Segafredo in Pembroke Pines (by Segafredo Pembroke Pines)
In true Italian style, Segafredo set to open a new, largest location at Shops at Pembroke Gardens with a Grand Opening Celebration to be held on Thursday, April 9, 2015 from 6:30 – 10:00pm. A ribbon-cutting ceremony with Mayor Frank C. Ortis, the Miramar.
Pembroke Pines Regional Chamber of Commerce and the Italy-America Chamber of Commerce Southeast will take place at 7:00pm on the red carpet amongst the latest Ducati Motorcycles.
Once the ribbon is cut, the doors will open and festivities will begin! Sounds by Franco Music and will be accompanied by international superstar violinist Sarina Suno, will set the stage as our beautiful hostesses greet guests as they walk the red carpet. Segafredo Pembroke’s signature cocktails will be served in a production integrated with performers from NOLA -Nest of Living Arts that will continue throughout the evening.
For Lunch, Happy Hour and Evening Dining & Entertainment, the Restaurant and Bar area opens entirely to the Outdoor terrace by way of wall to wall folding storefront doors and windows.
The main floor includes a full service restaurant and bar with indoor and outdoor patio seating, making our location truly unique. The project boasts 2000 square feet of sidewalk cafe and covered terrace seating. An authentic Italian wood fire oven is the center piece to our main dining room, adding a special complement and flavor to some of our signature dishes.
The history of Segafredo dates back over 30 years ago to its modest beginning with the Zanetti family in Bologna, Italy. Coffee merchant, Mr. Massimo Zanetti originally founded the company. With the opening of the first Segafredo café in Paris in 1988, the brand was born. Today Segafredo Zanetti Espresso continues to grow exponentially on a global scale.
For Media Inquiries & RSVP, please contact: brian@eventvisions.com / RSVP@eventvisions.com