Archive for the ‘Finance/ Retirement’ Category

« Older Entries

Garden Grove, CA Wins $12 Million Super Lotto Prize – Lump Sum or Installments??

Thursday, March 28th, 2013

http://www.blakechristian.com/blog/?s=lottery

Since another local person won a good sized prize – it is worth reviewing the link above.

Larger prizes almost always support taking the winnings in installments since taxpayers will get graduated tax rates, personal exemptions and itemized deductions shaved off their taxable income over the entire installment period (vs. just one year).

It is also important to fully evaluate who the actual owners of the ticket are.  The purchaser?  Other family members?  Friends?  Co-workers?  The tax difference when the income is spread over multiple winners can be significant — and is much better than one person claiming the prize and then gifting a portion to others who may have a partial claim.

More questions? – (562) 216-1800.

 

 

Posted in Finance/ Retirement, General Business Matters, Lottery Tax Planning, Tax - General | No Comments »

Tax Transparency – How Technology, Social Activism and Government Enforcement is Altering the Tax Compliance and Tax Policy Process

Thursday, March 28th, 2013

From the AICPA Corporate Taxation Insider   http://www.cpa2biz.com/search/results.jsp?N=55+79&mode=content

 

Corporate tax transparency and corporate tax reform

Trends in technology and increased availability of information have placed a spotlight on corporate and individual taxpayer compliance and financial stewardship.

March 28, 2013 by Blake E. Christian, CPA/ MBT

Last  month I attended the annual University of Southern California Gould School of  Law Tax Institute conference. As usual, the  quality of the presenters, as well as the technical content, was exceptionally  high.

While  there were plenty of presentations covering the American Taxpayer Relief Act  (ATRA) of 2012, P.L. 112-240, a few notable presentations covered some  interesting trends and predictions relevant to business taxpayers.

Following  is a summary of a few tax trends and policy discussions:

Technology and tax transparency (Click the link for the full article):

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CorpTax/TaxTransparency.jsp

Posted in Finance/ Retirement, International, Politics, Tax - General, Tax - State & Federal Hiring and Equipment Credits | No Comments »

Issuing or Recieving Stock or Other Equity Interests Can Produce Significant Tax Liabilities and Benefits for the Parties

Monday, July 30th, 2012

AICPA Corporate Taxation Insider Article – IRC Section 83 – Property in Exchange For Services.

Businesses issuing equity interests to employees and service providors results in very significant tax issues for both the company and the service providor. Quick action(30 days) is required by the recipient when restricted stock is issued in order to minimize ordinary income and maximize future capital gain income.

These complex rules are overlooked or misunderstood in many cases and can create huge issues if the value of the equity interests increase significantly after issuance.

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/CorpTax/IRSSec83bElectionGuidance.jsp#.UBXYLQJ_5Mc.facebook

Tags: , , , ,
Posted in Finance/ Retirement, General Business Matters, Tax - General | No Comments »

Tax Impact From Mid-Term Elections – Good News We Think

Thursday, November 4th, 2010

The voters have spoken and the Congressireonal balance of power has shifted dramatically.  So how will this impact future federal tax policy?    We think the new composition will serve the U.S. taxpayers well in terms of limiting tax hikes and controlling deficit spending.

The following video (Video #4) and other other links will provide you some useful guidance:

 http://www.losangelesbtv.com/BlakeChristian.html

 

Additional Library of tax and economic videos can be accessed at:

http://www.hcvt.com/Resources-Links/media.html

and

http://www.youtube.com/user/bchristiantax1

 

The expiration of the Bush Tax Cuts in 2011 will equate to a $138 Billion tax hit in 2011 and $200 Billion in 2012 to wealthy and middle-class U.S. taxpayers.   An extension of the Bush Tax Cuts are predicted to increase GNP by .5% to 1.4%  and the Congressional Budget Office predicts job creation in the 1.3 to 3.5 Million full-time jobs.

Check out the Financial Times’  Op-Ed:

http://www.ft.com/cms/s/0/74fc990a-e79a-11df-8ade-00144feab49a.html

For a full library of my AICPA Tax Articles, click the link below:

http://www.cpa2biz.com/search/results.jsp?mode=content&N=79&Ns=P_UpdatedDate|1

Tags: , , , , , , , , ,
Posted in Finance/ Retirement, General Business Matters, Politics, Tax - General | 2 Comments »

Off-Balance Sheet Assets Can Benefit Buyers and Sellers of Businesses

Saturday, August 28th, 2010

Unlike Enron’s technique of hiding liabilities in shell entities, some business owners simply overlook valuable assets that can be secured with very little effort in most cases.

These overlooked assets often come in the form of unclaimed tax refunds associated with various federal and state tax incentive programs.  These programs range from:

- Research & Development Credits

- Federal and State Hiring Credits

-Eco/”Green” Tax Credits

- Sales and Use Tax Credits and Exemptions

- Property Tax Refunds/ Exemptions

Current business owners, or buyer’s of these businesses, can obtain a significant economic advantage by documenting these refunds and working them into there business plan, exit strategy, or factor them into their acquisition strategy.

To read all the details, please click on the following link:

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CorpTax/M_and_A_Transactions_Enhanced.jsp

 

For full access to all of my AICPA articles, please click here:

http://www.cpa2biz.com/search/results.jsp?N=79&mode=content

 

To obtain daily tax and economic updates, please follow me on Twitter @:

www.twitter.com/taxcredits_cpa

 

www.blakechristian.com

Tags: , , , , , , , ,
Posted in California Enterprize Zone, Finance/ Retirement, Green/ Eco Credits, Tax - State & Federal Hiring and Equipment Credits | 2 Comments »

Obama Must Break His Campaign Tax Promise

Monday, August 9th, 2010

Due to increasing deficits, a languishing economy and horrendous unemployment rates, some experts are saying that President Obama has little choice to break his promise of not increasing taxes on the middle class.

For an interesting analysis by Financial Times’ columnist Clive Cook, please read the following article:

http://www.ft.com/cms/s/0/cffa56fa-9d97-11df-a37c-00144feab49a.html

 

Read more Clive Cook U.S. tax policy analysis:

http://www.ft.com/cms/s/0/1b4c44d8-a32e-11df-8cf4-00144feabdc0.html

For weekly tax updates, sign up to follow me at:

www.twitter/taxcredits_cpa

Tags: , , , , , ,
Posted in Finance/ Retirement, Politics, Tax - General | No Comments »

Ongoing U.S. Economic Challenges May Cause Muni Bond Chaos

Friday, June 4th, 2010

 

Warren Buffet Turns Sour on Muni Bonds.  Thanks to Massive Underfunded Pensions, Dwindling Revenues and Inability to Raise Taxes – State and Local Agencies Are in for a Rough Ride.  Over $14 Billion of Muni Bond Defaults in 2008 and 2009.  This may be just the tip of the iceberg.

http://www.moneynews.com/StreetTalk/warren-Buffett-Municipal-Debt/2010/06/03/id/360924?s=al&promo_code=A01D-1

 

U.S. Unemployment Continues to Challenge Recovery.  Census Workers Cannot Cure the Problem (WSJ).

http://online.wsj.com/article/SB10001424052748704764404575286263535019280.html?mod=djemalertNEWS

 

Long-Term U.S. Problems Continue (The Economist) -

http://finance.yahoo.com/tech-ticker/%22longer-term-issues-for-america-are-really-really-serious%22-bishop-says-498808.html?tickers=%5Edji,%5Egspc,tlt,tbt,euo,man&sec=topStories&pos=9&asset=&ccode=

Tags: , , , , , , , ,
Posted in Finance/ Retirement, Politics, Tax - General, Tax - State & Federal Hiring and Equipment Credits | No Comments »

Goldman Sachs Hearings, U.S. Financial Reforms & Unemployment &

Wednesday, April 28th, 2010

Read the following updates regarding:

  •  The Senate grilling of Goldman Sachs’ Executives (WSJ):

WSJ.com – Goldman Sachs Senate Hearings – Bruised/ Defiant. Do the Senators Really Understand What Market Makers Do? http://on.wsj.com/95hr1G

 

  • Proposals to Revamp the U.S. Financial System (FT):

Martin Wolf (Financial Times) Evaluates U.S. Financial Reform Options http://www.ft.com/cms/s/0/cca02e40-522d-11df-8b09-00144feab49a.html

 

  • The Press Spin to Put Lipstick on the Unemployment Pig: 

347 Regions Experience Higher Unemployment.But Press Spins the News as Positive   http://bit.ly/bXPwD6

 

  • Going Green – The Wind Solution May Just Be Hot Air (WSJ):

WSJ.com – “Power Hungry” by Robert Bryce – The Wrong Way To Get to Green http://on.wsj.com/8ZIW2r

 

For all my Twitter Updates, please follow me at:

http://twitter.com/taxcredits_CPA

Tags: , , , , , , ,
Posted in Climate Change/ Global Warming, Finance/ Retirement, Green/ Eco Credits, Politics | No Comments »

$493 Billion Healthcare Tax Hike Has Immediate Impact on Business Earnings

Saturday, March 27th, 2010

AT&T is reporting a $1 BILLION earnings hit, John Deere reported $150 million impact and Caterpillar anticipates a $100 million decrease in earnings from higher premium, reduced tax deductions and various tax increases.

Read the Business Week Coverage of the AT&T Impact:

http://www.businessweek.com/news/2010-03-26/at-t-to-take-1-billion-charge-on-health-care-reform-update1-.html

Read the Marketwatch Summary on the full Industry Impact:

http://www.marketwatch.com/story/deere-says-health-reform-will-hit-its-bottom-line-2010-03-25?dist=afterbell

 

Obama Struggles in Polls and On the Public Relations Trail:

Read the Fox News transcript of President Obama’s challenges in selling the healthcare reform to skeptical Americans:

http://www.foxnews.com/story/0,2933,590007,00.html

Get the REAL facts from Accounting Web and the U.S. Chamber about how the healthcare bill will impact you and your business:

http://www.accountingweb.com/topic/tax/how-health-care-bill-will-impact-individuals-businesses

http://www.uschambersmallbusinessnation.com/take-action/myths-vs-facts—-its-time-to-get-the-facts-on-health-care-reform-straight

Senate Budget Report Provides Interesting Insights Into The Senate Bill:

http://budget.senate.gov/republican/pressarchive/2009/2009-11-19HealthCareFactSheet.pdf

Read how your congressman voted:

http://clerk.house.gov/evs/2009/roll887.xml

Other recent links:

http://www.foxbusiness.com/story/markets/industries/health-care/resend-house-approves-historic-overhaul-health-care/

U.S. Chamber Web Site: 

http://www.uschamber.com/chambers/healthcare.htm

Tags: , , , , , ,
Posted in Finance/ Retirement, Healthcare, Tax - General, Tax - State & Federal Hiring and Equipment Credits | 1 Comment »

Healthcare Tax Increases – $493 Billion. Total Government Outlays to Reach $2.3 Trillion. Medicare Benefits to Decrease by $465 Billion.

Sunday, March 21st, 2010

Senate Budget Report Provides Interesting Insights Into The Senate Bill:

http://budget.senate.gov/republican/pressarchive/2009/2009-11-19HealthCareFactSheet.pdf

Read how your congressman voted:

http://clerk.house.gov/evs/2009/roll887.xml

Other recent links:

http://www.foxbusiness.com/story/markets/industries/health-care/resend-house-approves-historic-overhaul-health-care/

U.S. Chamber Web Site: 

http://www.uschamber.com/chambers/healthcare.htm

 

Now that the House has narrowly passed (220-211, including a single Republican vote from Cao-LA in support) the 2,400 page  Senate version of the Healthcare Bill (which was passed by the Senate on Christmas Eve last year), it is a good time to review how the Senate version is projected to impact businesses, individuals and the U.S. Government.

In addition to income and payroll tax increases, and penalties,  of nearly half a trillion dollars

While the House  also narrowly passed (220-211) their Reconcilaition bill late this evening, the Senate will very likely not agree with all of the House’s suggested changes to the Senate Bill.   The Senate will take up that task later this week.

Read how business owners (but not union shops) will be penalized with a 40% tax on “high cost”/ “Cadillac” medical insurance policies.  File that provision under:  No Good Deed Goes Unpunished.

Also read how taxpayers making more than $200,000 will be be “rewarded” with a .9% addition Hospitalization Insurance (HI) on wages and self-employment income.

Flexible Spending Accounts (FSA) will now be subject to limitations on tax-free contributions and spending limits.  In addition, deductibility of medical costs will now rise to 10% of Adjusted Gross Income from the current 7.5% thresshold.

D&T Tax Provision Summary :

http://www.deloitte.com/view/en_US/us/Services/tax/112a52f1b5277210VgnVCM100000ba42f00aRCRD.htm?id=email

 

Reuters’ summary timeline of the healthcare roll-out:

http://www.reuters.com/article/idUSN1914020220100322

 

Hold onto your wallet.

Tags: , , , ,
Posted in Finance/ Retirement, Healthcare, Politics, Tax - General | 9 Comments »

« Older Entries