Category: News from our members

IACC – Miami > News from our members

Beghelli Expands its Products Line with the Release of SanificaAria, an Air Sanitzation System that kills Viruses and Bacteria including COVID-19

Miramar, Fla., June 30, 2021 – Beghelli USA, known for their line-up of emergency and commercial and industrial energy savings lighting solutions, recently expanded into the wellness space with the release of SanificaAria.

SanificaAria, the company’s air sanitization system, is Beghelli’s response to COVID-19. Developed at the company’s headquarters in Bologna, Italy, SanificaAria consists of an axial fan intake system that draws contaminated air inside of the closed chamber containing the UV-C source, where the sanitization process takes place.

Proven to kill 99.9% of viruses and bacteria, including COVID-19, SanificaAria can be used in any indoor enclosed environment. The sanitization system comes in two sizes; SanificaAria 30 is perfect for small, personal spaces, while the SanificaAria 200 is a better solutionfor larger, industrial spaces like hospitals, schools and restaurants. The systems are quiet, produce no ozone, can be used in the presence of people and are the perfect step towards providing a healthier personal environment.

*As an added bonus, Beghelli would like to offer 15% off any SanificaAria purchase with code Italy15.

For more information on SanificaAria, visit sanificaaria.net.

 

 

 

IACC – Miami > News from our members

40,000 sq. ft. Georgia facility expansion

By WAM USA

The Italian WAM GROUP, worldwide leader in designing and manufacturing equipment and plant components for bulk solids handling and processing, has been represented in the United States by its own subsidiary since 1985.

WAM USA Inc. is responsible for distribution of the WAM GROUP product range in the U.S. and Canada.

WAM USA Inc. moved in its Georgia Division in 1998 in a fast-developing industrial estate in Lawrenceville near Atlanta, with a large production and warehouse area.

The Georgia plant produces WAM standard screw conveyors and dust collectors in large quantities adapted to the requirements of the U.S. market.

In 2002 WAM USA Inc. opened its Texas Division in Fort Worth.

This facility was selected as a central location to better serve the Southwest, Midwest and West Coast customer base.

In 2021 we couldn’t be more proud to announce the 40,000 sq ft expansion of our Georgia facility, we will be doubling the footprint from its existing approximate 50,000 sq. ft. to approximately 90,000 sq. ft. 

The expansion will include increased space for offices to accommodate the growing workforce, a show room, a new training room and a cafeteria.

The expected completion date is March 31st, 2022.

IACC – Miami > News from our members

How is cryptocurrency taxed in the US?

Cryptocurrency can be considered as a form of payment in some cases and an investment in other cases. According to IRS cryptocurrency transactions are taxable like transactions in any other property, therefore they might have to be reported on tax returns.

The IRS treats Bitcoin and other cryptocurrencies as “property”. Therefore, they are treated like capital gains treatment similar to traditional assets like stocks and bonds.

In some cases, anyway, they are treated as income, so they are subject to income tax.

Some examples:

if cryptocurrency is received through a marketing promotion it is considered: taxable income;

if it’s received as payment for goods or services, it is considered taxable income;

if it’s sold to realize an investment gain, taxes are owed on the gain, as it happens with stocks.

Also, if one cryptocurrency is converted into another, taxes are owed on any gains on the transactions. Taxes are owed only if you realize a profit.

For example, if you buy 100$ in cryptocurrency and sell it at 150$, you have a gain of 150$ and that would be the taxable gain for IRS. If you buy $100 and sell it for $80 you don’t have to pay taxes. You could even utilize the loss to compensate for other investment gains.

The amount of taxes on capital gains also depends on how long you’ve held the cryptocurrency.

If it’s less than one year, the profits are considered short-term capital gains. They would be taxed at the normal income tax rate.

If it’s more than one year, the profits would be considered long-term capital gains, and they would be taxed at another rate, lower, which depends on the annual income you have.

Our offices are at your disposal for more information:

info@italiancpa.com

www.italiancpafirms.com

IACC – Miami > News from our members

IRS Tax Credit: Employee Retention Credit (ERC)

by ZOMMA Group

The Employee Retention Credit is a fully refundable tax credit for employers up to $5,000 for each full-time employee that the employers retained between March 13 and Dec. 31, 2020 and up to $28,000 for each retained employee between Jan.1 and Dec. 31, 2021 ($7,000 each quarter). Applications are allowed despite receiving PPP loans, but the ERC can only be claimed for qualified wages not treated as payroll costs in obtaining forgiveness of the PPP loans.

Most employers, including tax exempt organizations, can qualify for the credit. Qualification is determined by one of the following two factors:

  1. A trade or business that was fully or partially suspended or had to reduce business hours due to a government order. The credit applies only for the portion of the quarter the business is suspended, not the entire quarter.
  2. An employer that has a significant decline in gross receipts, by at least 50% of what they earned the same calendar quarter in 2019 (compared to 2020) and by at least 20% for 2021 (always compared to year 2019).

Employers will use Form 941 (Employer’s Quarterly Payroll Tax Return) to immediately claim the credit by reducing payroll taxes sent to the IRS, for the applicable quarters of 2021 in which the qualified wages were paid or will use Form 941-X (Adjusted Return) to retroactively file for year 2020.

It is important to underline that there is no size limitations in the number of the employees, and that if the credits exceed payroll taxes, employers can request a direct refund from the IRS.

ZOMMA Group has established a dedicated team that is continuously monitoring new guidance from SBA, Treasury, Congress, and IRS, to ensure we have the latest information when advising our clients.

To discuss your eligibility for the ERC and/or accurately calculate your potential credit, feel free to contact us: luca.cancellieri@zommagroup.com

 

IACC – Miami > News from our members

Prosecco DOC Rosè

by Valdo USA

In 2020 a modification of the disciplinary rules that define the Prosecco DOC appellation was approved, allowing the production of the most popular sparkling wine in the world in a Rosé version. The only two grapes allowed are Glera (85-90%) and Pinot Nero (15-10%) harvested in the Prosecco DOC region which is an area in the North East of Italy encompassing 9 provinces:

Treviso, Venezia, Vicenza, Padova, Belluno in the Veneto region and Pordenone, Udine, Gorizia, Trieste in the Friuli region.

It is mandatory to display the vintage year on the label (Millesimato) and this wine will only be available “Spumante” version (therefore not semi-sparkling, or Frizzante).

In terms of sweetness level, Prosecco DOC Rosé can be made Brut (which means dry, 0-12 grams/liter of Residual Sugar) or Extra Dry (which is more sweet, 12-17 g/l RS)

Wines must follow the Charmat/Martinotti production method, in which the second fermentation that produces bubbles happens in pressurized steel tanks, rather than in individual bottles, as in Champagne.

Prosecco Rosé ages minimum 60 days in tanks to gain more flavor.

Valdo, leader of the Prosecco Spumante market in Italy and Germany, has launched the new Marca Oro Prosecco DOC Rosè Brut in the US market. Glera blends with Pinot Nero giving rise to a fresh and lively sparkling wine with elegant fine bubbles obtained after 90 days Martinotti Method and a refined silky pink colour.

It features a persistent mousse and inviting aromas reminiscent of apple and small red fruits

The flavour is delicate, interwoven with fruity sensations, pleasantly harmonious and with a lingering finish.

With a moderate alcohol of 11%, it is perfect as an aperitif wine and it can also be paired througout the whole meal with white fish and Mediterranean cuisine.

It should be served in a large-stem glass, at a temperature of 4-6°C.

 

IACC – Miami > News from our members

Possible Tax Developments under the New Biden Administration

by Salcedo Attoneys at LAW PA

The new Biden administration was sworn on January 20, 2021 and quickly began implementing its agenda of measures intended to contrast the health and economic fallout caused by the COVID-19 pandemic. It is possible that, when the COVID-19 emergency has settled, the Biden administration may turn its attention to making changes to some key tax provisions. Some of these possible changes as they were announced are summarized below.

Individual Income Tax

The current top rate for individuals’ federal income tax is 37%. The Biden camp has proposed to raise such rate to 39.6% for taxpayers whose income exceeds $400,000. Also, long term capital gains which currently enjoy a favorable reduced rate of 20% would be taxed at the applicable ordinary income tax rate.

Corporate Income Tax

One of the TCJA’s most publicized changes was the introduction of a flat 21% rate for corporations’ income. During his campaign, President Biden proposed to raise such rate to 28%. Also, income derived abroad by U.S. corporations will continue being subject to the minimum tax regime established under the GILTI provisions of the TCJA. The GILTI minimum rate would increase from 10.5% to 21% under a proposal of the Biden camp.

Estate Tax

The estate tax has been one of the areas in which the two candidates’ differences became more apparent. The TCJA had introduced a historically high exemption for the estate tax, currently standing at $11.7 million for U.S. domiciliaries, which thanks to a portability provision can be effectively doubled for spouses. The Biden camp proposed to reduce the estate tax exemption to $3.5 million and to increase the top estate tax rate to 45%. Another proposal suggested that there would no longer be a free “step-up” in the basis of capital assets held at death or that there would be automatic income realization at death. There has been no mention of changes to the very low ($60,000) exemption currently applicable to non-U.S. domiciliaries.

 

IACC – Miami > News from our members

Voucher internazionalizzazione 2021 – III ed.

by EXP Legal

Cos’è

Il voucher per l’internazionalizzazione, gestito da Invitalia per conto del MAECI, è rivolto alle micro e piccole imprese (MPI) che vogliono espandersi o consolidarsi sui mercati esteri.

Possono richiedere il contributo le MPI manifatturiere (codice Ateco C) con sede legale in Italia, anche costituite in forma di rete.

Cosa finanzia

Il voucher finanzia le spese sostenute per usufruire di consulenze da parte di Temporary Export Manager (TEM) con competenze anche digitali, inseriti temporaneamente in azienda e iscritti nell’apposito elenco del Ministero degli Esteri.

Le prestazioni devono avvenire nell’ambito di un contratto di consulenza manageriale della durata di 12 mesi per le micro e piccole imprese e della durata di 24 mesi per le reti.

La consulenza dei Temporary Export Manager deve essere finalizzata a supportare i processi di internazionalizzazione attraverso:

  1. analisi e ricerche sui mercati esteri;
  2. individuazione e acquisizione di nuovi clienti;
  3. assistenza nella contrattualistica per l’internazionalizzazione;
  4. incremento della presenza nelle piattaforme di e-commerce;
  5. integrazione dei canali di marketing online;
  6. gestione evoluta dei flussi logistici.

Come funziona

Il contributo è concesso in regime “de minimis”:

  • 20.000 euro alle micro e piccole imprese a fronte di un contratto di consulenza di importo non inferiore, al netto dell’Iva, a 30.000 euro;
  • 40.000 euro alle reti a fronte di un contratto di consulenza di importo non inferiore, al netto dell’Iva, a 60.000 euro.

È possibile ricevere un contributo aggiuntivo di 10.000 euro se si raggiungono i seguenti risultati sui volumi di vendita all’estero:

  • incremento di almeno il 15% del volume d’affari derivante da operazioni verso paesi esteri registrato nell’esercizio 2022, rispetto allo stesso volume d’affari registrato nell’esercizio 2021;
  • incidenza – nell’esercizio 2022 – almeno pari al 6% del volume d’affari derivante da operazioni verso paesi esteri sul totale del volume d’affari.

La domanda

La domanda si potrà presentare esclusivamente online tramite procedura informatica, attraverso il link alla piattaforma web che sarà pubblicato sul sito di Invitalia.

La prima finestra temporale sarà attiva dalle ore 10.00 del 9 marzo 2021 alle ore 17.00 del 22 marzo 2021 per compilare la domanda, firmarla digitalmente e caricarla sul sistema. La successiva finestra temporale sarà attiva dal 25 marzo al 15 aprile 2021, dalle ore 10.00 alle ore 17.00, con esclusione dei giorni festivi e prefestivi. L’orario di arrivo, prodotto su apposita ricevuta, determinerà l’ordine cronologico di ammissione ai contributi.

Lo Studio EXP Legal è a disposizione delle aziende per raccogliere le manifestazioni di interesse all’ottenimento del voucher e la predisposizione del programma di internazionalizzazione richiesto in fase di presentazione della domanda.

 

IACC – Miami > News from our members

Second Draw PPP Loan Approved by SBA

On January 15th, the Small Business Administration (SBA) has begun accepting applications for the second round of Paycheck Protection Program (PPP) loans.
To be eligible for a second PPP loan — which cannot exceed $2 million — a business must have 300 employees or fewer, have previously received a First Draw PPP Loan, have used or will soon use all of the money from its previous PPP loan, and can demonstrate a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. Keep in mind that alternative calculations are provided for applicants that were not in business for all of 2019.
For most applicants, the maximum loan amount of a Second Draw PPP Loan is 2.5x the average monthly 2019 or 2020 payroll. For borrowers in the Accommodation/Food Services industry, the maximum loan amount for a Second Draw PPP Loan is 3.5x the average monthly 2019 or 2020 payroll costs. Both always up to $2 million, as previously mentioned.
The applicant must submit documentation able to establish that the applicant experienced a reduction in revenue on a quarter year-over-year basis, at the time of application, on or before the date of the loan forgiveness application, or at SBA’s request. Such documentation may include relevant tax forms, a copy of quarterly income statements or bank statements.
We expect participating lenders to accept applications across various formats and timeframes. Businesses should consider where to apply, evaluate eligibility, and gather the appropriate documentation for the respective applications.
ZOMMA Group has established a dedicated team that is continuously monitoring new guidance from the SBA, the Treasury, Congress, and the IRS, to ensure we have the latest information when advising our clients. To discuss your eligibility for a Second Draw PPP Loan and/or accurately calculate your borrowing capacity, feel free to contact us. luca.cancellieri@zommagroup.com
IACC – Miami > News from our members

BANDO “LINEA INTERNAZIONALIZZAZIONE PLUS” di REGIONE LOMBARDIA

by EXP Legal

È in fase di pubblicazione, da parte della Regione Lombardia – Finlombarda S.p.A., il nuovo bando «Linea Internazionalizzazione plus».

L’intervento, che mira a finanziare programmi integrati di sviluppo internazionale per potenziare e/o consolidare la presenza e la capacità di azione delle PMI lombarde nei mercati esteri, è stato strutturato in modo da poter rispondere in maniera efficace alle esigenze del tessuto imprenditoriale locale a seguito dell’insorgere della situazione di emergenza causata dalla pandemia da COVID-19.

Questo nuovo intervento prevede un contributo massimo di € 500.000, a copertura anche del 100% delle spese ammissibili, di cui l’80% sotto forma di finanziamento a tasso zero con durata compresa tra i 3 e i 6 anni, ed il restante 20% sotto forma di contributo a fondo perduto.

Tra le spese ammissibili:

  • partecipazione a fiere internazionali, anche virtuali;
  • istituzione temporanea di spazi espositivi all’estero; esposizioni virtuali;
  • azioni di comunicazione all’estero;
  • spese per lo sviluppo di siti web e per l’accesso a piattaforme on line, anche per l’e-commerce;
  • consulenze relative al progetto di internazionalizzazione;
  • spese per certificazioni estere;
  • spese per il personale dipendente impiegato nel progetto di internazionalizzazione, nella misura forfettaria del 20% del totale delle spese di cui ai punti precedenti;
  • spese generali forfettarie nella misura del 7% del totale delle spese di cui ai punti precedenti.

Le agevolazioni sono concesse a tutte le PMI, iscritte al Registro delle Imprese ed attive da almeno 24 mesi, con sede legale o operativa (attiva) in Lombardia, con esclusione di quelle operanti nei seguenti settori: agricoltura, attività immobiliari, attività finanziarie e assicurative.

L’importo minimo finanziabile è pari a € 40.000. Le domande saranno selezionate tramite una procedura valutativa a sportello, sino ad esaurimento fondi.

Come accaduto in occasione della precedente e analoga misura agevolativa, la gestione della procedura sarà affidata a Finlombarda S.p.A. e le modalità e le tempistiche per la presentazione della domanda saranno resi noti con il bando di prossima pubblicazione.

Lo Studio EXP Legal è a disposizione delle imprese, sin da subito, per la valutazione dei progetti di sviluppo estero e la presentazione delle domande di accesso al Bando «Linea Internazionalizzazione plus».

Avv. Stefano Rossi

IACC – Miami > News from our members

Cybersecurity and 5G

by Digitance

Smart cities, self-driving cars, advanced home and building automation, digital healthcare, augmented reality, virtual reality. These are just a few examples of innovative applications that 5G mobile networks will make available in the near future.

5G will offer ultra-high transmission speed with low latency and will be able to provide services to a huge number smartphones and IoT devices.

It is, therefore, essential to secure the full and continuous operation of 5G networks and protect them from attacks that may lead to critical disservices or to the disclosure of personal and confidential data.

But, nowadays, there is a significant lack of adequate skills, both in private companies and public administrations. Hence the need to train a generation of technicians and managers able to efficiently support 5G cybersecurity in terms of infrastructures, applications and data.

In order to tackle these challenges, CNIT (Consorzio Nazionale Interuniversitario delle Telecomunicazioni) and Digitance have signed a MoU in Rome (Italy) on 2020.10.12, joining their effort to deliver a Continuing Education Program on 5G Cybersecurity.

The program will address both public administrations and companies aiming to invest in training technicians and managers on fundamental security issues of 5G infrastructures and applications. It will be supported by the most advanced training methodologies and with a total interchangeability between face-to-face and remote teaching. This way, it will answer not only to the needs of the present socio-health emergency, but also to the efficiency and optimization issues of all its users.

Current time schedule to training kick off is March 2021.

Finally, CNIT and Digitance intend to align, as far as possible, methodologies and contents of this initiative to what is proposed by the UN Agenda 2030, in terms of Sustainable Development.

Information and contacts

Website: http://5gsec.cnit.it

e-mail: 5gsec@cnit.it , 5gsec@digitance.group