U.S. Consumers Spend More, But Housing Data Lag

October 1st, 2014  // News

U.S. consumer spending picked up last month, but housing figures showed continued cause for concern in that sector. Spending was up 0.5% after a flat July, but contracts to buy previously owned homes fell 1%. In all, however, recent economic data reveal an economy that's advancing on most fronts. Read more

U.S. on Track For Fourth Straight Year of IPO Leadership

September 30th, 2014  // News

Companies have raised $77 billion through initial public offerings this year in the U.S., helping to seal its fourth consecutive year as the world leader for IPOs. Read more

U.S. Dollar Reaches 4-Year High

September 29th, 2014  // News

The U.S. Commerce Department's report of 4.6% gross domestic product growth in the second quarter sent the dollar to a four-year high against a basket of currencies Monday in Asian trading. The shift bolstered Tokyo stocks. Read more

Advisers Worry About Cyberattack Vulnerability

September 26th, 2014  // News

An increase in cyberbreaches is leading financial advisers to consider whether they are doing enough for protection. The Securities and Exchange Commission is conducting spot checks to determine whether advisers are prepared to cope with cyberattacks. Read more

Most Americans Say U.S. Still in Recession, Survey Finds

September 24th, 2014  // News

Almost three-quarters of Americans say the U.S. is still in a recession, according to the 2014 American Values Survey from the Public Religion Research Institute. Only 7% of Americans say their financial health is excellent. Read more

Goldman Predicts Treasury 10-Year Yields to Rise

September 23rd, 2014  // News

Philip Moffitt of Goldman Sachs Asset Management said that Treasury 10-year yields could increase to 4% over the next year as the Federal Reserve winds down its bond-purchase program and considers raising rates. Read more

G-20 Finance Ministers to Address Global Corporate Tax Reform

September 19th, 2014  // News

Finance ministers and central bankers are set at this weekend's Group of 20 nations meeting to deal with the issue of how multinational corporations are taxed. "Hopefully this weekend, G-20 finance ministers will sign up to an agreed global approach to assure that companies pay tax where they earn the money," said Australian Treasurer Joe Hockey. Read more

Fed Assures It Isn’t Close to Raising Interest Rates

September 18th, 2014  // News

The Federal Reserve's policy-making committee rejected calls to accelerate the withdrawal of stimulus and made it clear that it has no intentions of moving swiftly to raise interest rates. "There are still too many people who want jobs but cannot find them, too many who are working part time but would prefer full-time work, and too many who are not searching for a job but would be if the labor market were stronger," said Janet Yellen, head of the central bank. Read more

OECD Rolls Out Initiative for Global Tax Overhaul

September 17th, 2014  // News

The Organization for Economic Cooperation and Development has proposed new international tax rules designed to put an end to the practices multinationals often use to shift profits to low-tax locales. The OECD is proposing a series of actions and guidelines as part of this comprehensive global overhaul of tax rules. All of the organization's member countries have agreed to adopt the new rules in the initiative, which is called the Base Erosion and Profit Shifting Project. Read more

A Warning to Loss Corporations Raising Capital

September 16th, 2014  // News

Corporations need to be aware that issuing stock warrants or convertible debt to raise funds sometimes causes an ownership change under Section 382 of the Internal Revenue Code, which limits the use of net operating losses. Sheryl L. Vander Baan, CPA, and Bonnie B. Koppenol, CPA, explain how to avoid this unfortunate result and retain a corporation's ability to use these losses. Read more

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