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Tag Archive for Annette Nellen

TaxConnections Worldwide Tax Blogs Honors Annette Nellen

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Every week, until the end of the year, we will be celebrating one of our top writers on TaxConnections.

This week we are honoring Annette Nellen.

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Would Broader Sales Tax Base Deliver Savings?

Annette Nellen

A review of a few recent sales tax advisory opinions, issued by the New York State Department of Taxation and Finance, reminds us of the complexities of sales tax exemptions and special definitions of taxed items.

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What the IRS Does Not Mention About Crowdfunding And Taxes

Annette Nellen

In Information Letter 2016-0036, released June 24, the IRS explains general rules that might apply to someone’s receipts of funds via a crowdfunding platform. It doesn’t mention any websites, but examples include Kickstarter and GoFundMe. The IRS notes the broad rule of Section 61 that receipt of funds is likely to be taxable gross income.

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Deciphering Campaign Tax Proposals

Annette Nellen

Here is my 15 minute presentation to the San Jose Rotary Club delivered today (May 11) on deciphering campaign tax proposals and helping members increase their tax policy savviness.

Deciphering Campaign Tax Proposals

Presentation delivered to Rotary International San Jose Chapter (District 5170) on May 11, 2016. Read more

Tax Reform in 2016?

Annette Nellen

While we are unlikely to see tax reform this year, there continues to be a lot of work going on in the tax committees on it.  And President Obama updated and released his framework for business tax reform this month (first report was released in Sept. 2012). I think the main impetus for the update was to address inversions to tie to the recent activities of IRS and Treasury. Read more

Transparency For Individual Taxes

Annette Nellen

Transparency as a principle of good tax policy means taxpayers should understand taxes and how they apply to them. Despite lots of data on a filer’s Form 1040, the one number people focus on is the amount due or refund. Clearly the better number is total federal income tax liability. And better yet, people should also Read more

Ideas for Retirement Savings Reform

Annete Nellen

On 1/28/16, the Senate Finance Committee held a hearing on – Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement Savings Plans.  This isn’t the first time for this topic.  There were a few hearings on this in 2014. I’m not sure if anything is driving the renewed attention to this topic now.  While tax reform is challenging in an election year, this important topic seems good for any year.  There is a need for reform of the tax rules for retirement plans to make them more equitable and simple to help more people save for retirement. Read more

10th Anniversary of Bush Tax Reform Report

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In January 2005, President Bush created his Advisory Panel on Federal Tax Reform. It was tasked to examine the tax system and propose simplified options that were revenue neutral, pro-growth and internationally competitive. One option was to be a consumption tax. The report was due and was issued on November 1, 2005.

The panel held public hearings, reviewed lots of data and studies and suggested reforms. One of their initial findings was the high cost of tax system complexity which they estimated to be $140 billion per year. Per the panel:

“To put this amount in perspective, it is roughly the same as giving $1,000 to every family in America or the amount of money needed to fund all of the following: the Department of Homeland Security, the State Department, NASA, Read more

“Abolish The IRS” Distracts From Needed Reforms

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Republican presidential candidates Senators Ted Cruz and Mike Huckabee would like to abolish the IRS. They are not saying they want to abolish taxes, just the agency that collects them. Even if either is able to simplify taxes to the point that no taxpayers have questions or need guidance, we still need a tax collector, as well as an auditor to ensure compliance.

A call to abolish the IRS is a distraction. That’s too bad because there are significant improvements needed to our federal tax system – a system that includes not only the income tax, but also employment, excise and estate and gift taxes. Tax reform must be the focal point, not termination of the entity that collects revenues to fund schools and roads, provide national defense, and much more.

The IRS is an easy scapegoat for complaints about our tax laws. But those laws come from Congress. Yes, the Read more

TEI-SJSU High Tech Tax Institute – 11/9-11/10, 2015 in Palo Alto, California

World_Connections

As a Reminder, the 31st Annual TEI-SJSU High Tech Tax Institute will be held on November 9 and 10 at the Crowne Plaza Cabana in Palo Alto, California.  Topics include practical consequences of BEPS, EU hot topics, Sections 41 and 199 applied to cloud computing transactions, repatriation strategies, and IRS developments.  Speakers include Heather Maloy, Joe Mikrut, Larry Langdon, Jim Fuller, Eli Dicker and Ivan Humphreys.  The agenda includes speakers from China, Ireland and the UK.

For the complete agenda and speaker list, as well as online registration, please visit http://www.tax-institute.com.

A discount is offered for TEI members. Read more

TEI-SJSU High Tech Tax Institute – November 9 & 10, 2015 in Palo Alto

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The 31st Annual TEI-SJSU High Tech Tax Institute will be held on November 9 and 10 at the Crowne Plaza Cabana in Palo Alto, California.  Topics include practical consequences of BEPS, EU hot topics, Sections 41 and 199 applied to cloud computing transactions, repatriation strategies, and IRS developments.  Speakers include Heather Maloy, Joe Mikrut, Larry Langdon, Jim Fuller, Eli Dicker and Ivan Humphreys.  The agenda includes speakers from China, Ireland and the UK.

For the complete agenda and speaker list, as well as online registration, please visit http://www.tax-institute.com.

A discount is offered for TEI members. Read more

Personal Property Tax Issues

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There is an interesting article in the San Jose Mercury News – “Silicon Valley’s stealthy, selfish war on taxes,” by Michelle Quinn (9/11/15).  She looks at some of the assessed values high tech firms have noted for their equipment, including $1.  She reports that some companies argue that the machine has no value to anyone else.  That seems odd.  But, it is a problem with a valuation tax, such as the property tax.

What is business personal property, such as equipment, worth each year?  Arguably, when purchased, it is worth what you paid for it, but it isn’t worth that much after that.  The valuation approach used does allow for adjustments down for subsequent years. The system also allows for lower values and appeals when necessary. Read more

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