Equity Sharing 101 for Startups Guard: “The warden would like to make a little investment in your production.” Bloom: “Tell him he owns 50% of the show.” Last scene from The Producers (original version) So, another week has passed and I am reflecting on the content of meetings with new clients and prospects. Not surprisingly,…
FINRA Update We have received many inquiries relating to a recent Financial Industry Regulatory Authority (FINRA) posting, as part of their weekly update relating to a firm’s designation of accountant, which reads: “As a reminder, SEA Rule 171-5(f) (2) requires firms to file a statement with the SEC and its Designated Examining Authority that it…
Holidays Around the World In December Happy Holidays, All! View the table below to learn what holidays people are celebrating around the world in December! Previous Post Next Post
U.S. Signs Agreement with Costa Rica to Fight Offshore Tax Evasion Costa Rica is not only a place where we all dream about purchasing that vacation getaway while we watch a “House Hunters International” marathon on a lazy Sunday morning. It was a place where many Americans hid money in offshore accounts, until recently. The…
Perfect Pitch – Get Your Mechanics Right! Moses: The Lord, the Lord Jehovah has given unto you these fifteen… [drops one of the tablets] Moses: Oy! Ten! Ten commandments for all to obey! From the movie History of the World It seems popular to use lists to convey ideas and 10, for some reason, is…
Finance That Matters Winter 2013 Investment Migration I tell my New York City resident clients, “You may live in a high tax state but your investments don’t have to.” Intangible assets, like stocks and bonds, can be moved to a separate taxable entity in a low or no-tax state like Delaware or Nevada. This type…
Fair Value Hierarchy: Classifying You Plan’s Assets Into Levels ASU 820, Fair Value Measurements and Disclosures, defines fair value, creates a fair value hierarchy and provides fair value disclosure requirements. Accounting rules define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly…
There Are No Dumb Questions Harry Dunne: Just when I thought you couldn’t possibly be any dumber, you go and do something like this… and totally redeem yourself! – From the movie Dumb & Dumber I think of this scene when I am in a meeting and a client or prospect raises a question and prefaces…
Is your organization safe from fraud? The answer to that question will depend on your answers to a number of other important questions. Risk Assessment Internal Controls These are some of the questions that you and those charged with the governance of your company should constantly be considering to help keep your company safe. Whether…
Another Investor in Trader Clothing Back in October I blogged about Mr. Endicott who got himself embroiled in a skirmish with the IRS over his status as a trader or investor for tax purposes -[https://frankandtothepoint.com/2013/10/09/clearing-back-the-brush-between-trader-and-investor/]. The Tax Court took a detailed look at Mr. Endicott’s activities, counting his trading days, number of trades, calculating an…