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Archive for Education

Tax Benefits And Credits: Planning And Saving For College

As a CPA, I am asked a lot of questions regarding tax benefits and credits for children. One of the more interesting questions I have heard is “Why do they take away benefits as the kids get older? They don’t cost less, they cost more – a lot more”. While I don’t really have a good answer, one thing I do explain is that there are different benefits and credits that apply to older children as it pertains to their college education.
 
One of the biggest decisions in a person’s life is what college to attend – or whether to attend at all. The decision and the subsequent attendance and performance will likely have more of an impact on their overall comfort and life style than any other event or decision in their lives.

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8,000 Days: A Proper Education

Leon LaBrecque, Tax Connections

Statements contained herein represent the views and opinions of the adviser as of the date of this posting and may change without notice at any time based on market and/or other conditions and may not come to pass. This material is for informational and educational purposes only and is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment, or tax advice.

The information presented does not take into account the specific objectives, financial situation, or particular needs to any specific person. Any forward looking statements speak only as of the date they are made, and LJPR LLC assumes no duty and does not undertake to update forward looking statements. Information was obtained from third party sources, which we believe to be reliable but not guaranteed. All investments carry a certain degree of risk, including a possible loss of principal, and there is no assurance that any investment will provide positive performance over any period of time. Read more

FTC Charges Academic Journal Publisher OMICS Group With Deceiving Researchers

The Federal Trade Commission has charged the publisher of hundreds of purported online academic journals with deceiving academics and researchers about the nature of its publications and hiding publication fees ranging from hundreds to thousands of dollars.

The FTC’s complaint alleges that OMICS Group, Inc., along with two affiliated companies and their president and director, Srinubabu Gedela, claim that their journals follow rigorous peer-review practices and have editorial boards made up of prominent academics. In reality, many articles are published with little to no peer review and numerous individuals represented to be editors have not agreed to be affiliated with the journals.

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Senate Finance Committee Reduction in Retirement Savings of Public Education and Government Employees

I have been focused this past week on understanding the impact and implementation of the House Ways & Means and Senate Finance Committee proposals on U.S. businesses foreign source income.  Two proposals that interest me are the ones aimed at transfer pricing, being (1) the minimum deemed distribution of a foreign subsidiary’s earnings above a statutorily defined return on tangible capital and (2) the 20% excise tax on payment to foreign related corporations.

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LAST CHANCE to Join Today’s Webinar! Plus, The 2017-18 ‘Technology in Tax’ Watershed

Complimentary Webinar starts TODAY at 9:00AM PDT/10:00AM MT/11:00AM CT/12:00 NOON EST/5:00PM GMT London

We are aware that many tax professionals are concerned about the pace of change in the industry. There is a growing inter-dependence between tax and technology that may soon mean one cannot be considered without the other. New regulatory initiatives, like BEPS, already assume this.

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LAST DAY to Register for Webinar, Plus 5 Simple Tax Technology Thought Strategies to Adopt Now

Gartner research reveals that the top reasons for lack of satisfaction with technology do not relate to technology itself.

Our own investigations agree. It is clear that business understanding of the technology’s purpose is the biggest factor in realizing value.

Okay, that’s great! But what does it really mean? And especially if we want to go beyond automating a few manual processes or replacing a few spreadsheets? Read more

33rd Annual TEI-SJSU- High Tech Tax Institute Conference Is Right Around The Corner!

Annette Nellen, Tax Advisor

Since 1988, the High Tech Tax Institute has hosted a two-day conference where speakers and attendees come from around the world to experience this tax professionals event of the year. Don’t miss out on this learning and networking opportunity as it is sure to be an invaluable tax experience!

This year, the High Tech Tax Institute starts on November 13, 2017 and wraps up on November 14, 2017.

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You are Invited! View TEI-SJSU’s High Tech Tax Institute Conference Agenda

Annette Nellen, Tax Advisor

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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Tax Advantages – Reimbursing Employees For Education

Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to follow IRS rules. Here are a couple of options for maximizing tax savings.

An Employee Fringe Benefit

Qualifying reimbursements and direct payments of job-related education costs are excludable from employees’ wages as working condition fringe benefits. This means employees don’t have to pay tax on them. Plus, you can deduct these costs as employee education expenses (as opposed to wages), and you don’t have to withhold income tax or withhold or pay payroll taxes on them.

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DOEs Proposed Regulations For School’s Deceitful Student Loan Forgiveness Practices

William Byrnes

The purpose of the borrower defense regulation is to protect student loan borrowers from misleading, deceitful, and predatory practices of, and failures to fulfill contractual promises by, institutions participating in the Department’s student aid programs.

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Tax Credits For Education Expenses—Part II: The Lifetime Learning Credit (LTC)

Harold Goedde

This article explains the nature of the Lifetime Learning Credit (LTC), eligibility, qualifying expenses, the amount and limitations, and how to report them on form 1040 and supporting schedules. (Click here to read the first article.)

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Transfer Pricing Summit—Last Chance To Register!!—New York—July 18-19, 2016

Kat Jenning

This is your last chance to register for the Biggest Transfer Pricing Summit of the year. Don’t miss this golden opportunity to learn from top tax leaders of the industry. This summit is highly recommended to those in order to help you advance in your career.

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