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Archive for Annette Nellen

TEI-SJSU High Tech Tax Institute – November 13 & 14, 2017

Annette Nellen

The SJSU MST Program manages and co-sponsors three annual tax conferences. Our hallmark High Tech Tax Institute, started in 1988, is a two-day conference held each November. Speakers and attendees come from around the world. Leading edge topics relevant to high tech companies and their tax professionals are addressed by nationally and internationally recognized practitioners and government representatives who have practical experience of implementation. The learning and networking opportunities makes the annual TEI-SJSU High Tech Tax Institute an invaluable educational tax experience for accountants, attorneys, and corporate representatives who serve high technology businesses.

33rd Annual TEI-SJSU High Tech Tax Institute – November 13 & 14, 2017

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Federal Tax Reform And Intangibles

Annette Nellen

Federal tax reform discussions have included writing off all business assets (other than land) at acquisition. In contrast, some have suggested increasing the Section 179 expensing amount which covers tangible assets. Some reform proposals have suggested lengthening depreciable lives for tangibles and intangibles. Proposals are obviously quite varied. I think that is primarily due to two factors: (1) no agreed upon goal for tax reform, and (2) focus on hitting a certain revenue target to allow for lower rates in a revenue neutral manner. Read more

Shopping Trends And Taxes

I like to look at trends because they are interesting and many have tax implications. Trends may indicate a need to update or modernize tax rules or systems. I’m a bit behind on blogging on this, but several weeks ago, there was an article in Fortune – Phil Wahba, “Major Wall Street Firm Expects 25% of U.S. Malls to Close by 2022,” 5/31/17. Reasons included bankruptcies and continuing growth in retail e-commerce sales. Read more

TEI-SJSU High Tech Tax Institute – November 13 & 14, 2017

The SJSU MST Program manages and co-sponsors three annual tax conferences. Our hallmark High Tech Tax Institute, started in 1988, is a two-day conference held each November. Speakers and attendees come from around the world. Leading edge topics relevant to high tech companies and their tax professionals are addressed by nationally and internationally recognized practitioners and government representatives who have practical experience of implementation. The learning and networking opportunities makes the annual TEI-SJSU High Tech Tax Institute an invaluable educational tax experience for accountants, attorneys, and corporate representatives who serve high technology businesses.

33rd Annual TEI-SJSU High Tech Tax Institute – November 13 & 14, 2017

Read more

Senate Democrats Tax Reform Principles

On 8/1/17, almost all Senate Democrats plus the two independent senators issued a letter to President Trump, Majority Leader McConnell and Senate Finance Committee Chairman Hatch, on their “key principles for tax reform.” The 45 signers indicate they want to work on bipartisan tax reform. The three key principles they “believe are prerequisites to any bipartisan tax reform effort” are: Read more

Ryan Foresees Tax Reform Legislation This Year

Annette Nellen, Tax Reform, Legislation

House Speaker Paul Ryan released a joint statement on tax reform (from the six folks working behind the scenes on tax reform – Ryan, Brady, McConnell, Hatch, Mnuchin and Cohn). Here is the key portion about tax changes:

We have always been in agreement that tax relief for American families should be at the heart of our plan. We also believe there should be a lower tax rate for small businesses so they can compete with larger ones, and lower rates for all American businesses so they can compete with foreign ones. Read more

ACA Tax Hits The Court

This is the first case I’ve seen dealing with application of the Affordable Care Act (ACA). Yes, we had cases in the U.S. Supreme Court dealing with legality of some of the taxes and mandates, but this July 12, 2017 decision from the U.S. Tax Court gets at application of the advance Premium Tax Credit (APTC). When an eligible person purchases health insurance on the exchange (such as Covered California), and their household income is 400% or less of the federal poverty line, they get a credit that can be applied to the monthly premiums (by having the government send the money directly to the insurance provider) or claimed when filing that year’s income tax return. Read more

House Budget Plan And Tax Reform

Speaker Ryan’s email message and blog post today notes that the House Republican budget plan “paves the way for transformational tax reform.” The Budget Committee has a markup session this morning. When Speaker Ryan tours the New Balance factory in Massachusetts on July 20 he will “promote the historic tax reform plan currently being developed by the House, Senate, and Trump administration.” [7/17/17 press release]  Read more

Are California Taxes That High?

Are California’s taxes high? I was asked this question recently by a reporter with Politifact California. Assemblymember Travis Allen who is running for governor had stated that California had the highest taxes. His website says that California has the highest personal income tax and state sales tax rates. [Chris Nichols article of 7/11/17]

If just looking at the rate structure, those are correct statements. The Federation of Tax Administrators posts helpful and current tables of the PIT and sales tax rates among the states. Read more

Ryan Says Tax Reform Will Happen In 2017

On June 20, 2017, Speaker Paul Ryan spoke to the National Association of Manufacturers about tax reform. He has a 1 minute YouTube video of highlights here. The tag line is “Tax reform is happening. Not next year or next Congress. It is happening now, in 2017.”

Per his email message of 7/5, “We’re not talking about some rinky-dink, watered-down version of reform where the status quo basically remains as is. No, instead, imagine transformational tax reform that closes decades of loopholes, shakes up the IRS, and actually encourages businesses to stay and grow here in America.” Read more

Senator Hatch And Jump Starting Tax Reform

Senator Hatch, chair of the Senate Finance Committee, has done the following regarding tax reform:

Study and hearings on corporate integration as a way to reduce the corporate tax burden. The proposal (per statements rather than a report) is a dividends paid deduction with withholding. Read more

20th Anniversary IRS Restructuring Commission Report

In the 1990s, tax reform was about as big of a focal point as it is today.  Some of the reasons were rate reduction and international competitiveness. There were a few concerns about IRS activities, such as a technology modernization effort that cost over $2 billion with little results. A commission was created by P.L. 104-52 (11/19/95). This 17-member group was the National Commission on Restructuring the IRS, co-chaired by Senator Kerrey (D-NE) and Congressman Portman (R-OH). Read more

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