Blog


  • Hanging Flags, Awarding Geniuses, Supporting Hong Kong Protestors and Criminalizing Animal Cruelty

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    National POW/MIA Flag Act (S 693) – This bill amended title 36 of the United States Code to require that the POW/MIA flag be displayed on all days that the flag of the United States is displayed on certain federal properties. Previously, the POW/MIA flag was displayed only on Armed Forces Day, Memorial Day, Flag Day, Independence Day, National POW/MIA Recognition Day and Veterans Day. The legislation was introduced by Sen. Elizbeth Warren (D-MA) on March 7. It was passed in the Senate on May 2, passed in the House on Oct. 22 and signed into law by the president... View Article

  • What is Splinternet and Why You Should Care

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    Eric Schmidt, former Google CEO, made a prediction in September 2018 that the internet will split in two – one part being led by China and the other by the United States. The reasoning behind this involves China’s active monitoring of all internet activities, as well as technological products and services from the country. Other reasons include a different leadership regime, controls and censorship. Although it’s just speculation, the splinternet phenomenon has been around since the 1990s. Also known as cyber-balkanization, the concept is slowly taking root as governments seek to fence off their internet to create national internets. How... View Article

  • Practicing Gratitude: A Look Back at 2019

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    It may be hard to believe, but the end of the year is upon us. During this time, many of us might reflect on the year and tally up the good and the bad, the pros and the cons of the past 12 months. In a society that focuses on success and getting ahead, probably the most common thing to do is zero in on what you didn’t accomplish, or what went wrong. But science tells us that if you’re smart, you’ll look back with gratitude. And the best news is: it’s good for our health. Gratitude Changes Your Brain... View Article

  • Gross Domestic Product: A Primer

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    The economic indicator known as Gross Domestic Product (GDP) represents the dollar value of all purchased goods and services over the course of one year. It is comprised of purchases from all private and public consumption, including for profit, nonprofit and government sectors. There are four components that are added to calculate the GDP: Consumer spending Government spending Investment spending (this includes business, inventory, residential construction and public investment),   Net exports, meaning the value of goods exported minus the value of goods imported The government calculates and publishes the GDP rate on a quarterly basis and for the entire year.... View Article

  • What Would a Phase One Deal with China Encompass?

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    The so-called phase one of a trade deal with China is expected to contain a provision for $40 billion to $50 billion in purchases of American agricultural products by China, according to an October news release from U.S. Sen. John Hoeven (D-ND) With ongoing discussions surrounding the US-Sino trade talks, there are rumors for such a partial trade deal. But how has the recent past impacted both countries’ economies and a mutual desire for better trade deals? While not directly related but announced during a similar time frame, a November press release from the United States Trade Representative (USTR) announced... View Article

  • Furniture, Fixtures and Equipment – and Depreciation

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    When it comes to determining depreciation for Furniture, Fixtures and Equipment (FF&E), there are many considerations that exist for accountants and business owners. Defining Furniture, Fixtures and Equipment FF&E refers to expenses for business items that are not affixed to the building where that business operates. Real world examples of depreciable assets includes chairs, desks, phones, tables, cabinets, etc., which are used to perform business-related tasks, directly or indirectly. These types of items are associated with long-term use generally more than 12 months, according to the Internal Revenue Service. Understanding How It Works When it comes to accounting for the... View Article

  • How to Defer, Avoid Paying Capital Gains Tax on Stock Sales

    Posted Date December 1, 2019 Posted Time 12:00 pm Published in

    The markets are hitting all-time highs, so if you are thinking of selling stocks now or in the near future, there is a good chance that you will have capital gains on the sale. If you’ve held the stocks for more than a year, then they will qualify for the more favorable long-term capital gains tax (instead of being taxed at ordinary income rates for short-term sales). But the total tax due can still be enough to warrant some tax planning. Luckily, the tax laws provide for several ways to defer or even completely avoid paying taxes on your securities... View Article

  • Fighting Foreign Terrorism on Homeland Soil, Increased Protections for Clean Water and Low-Income Veterans, and New Appropriations for FY2020

    Posted Date November 1, 2019 Posted Time 12:00 pm Published in

    Terrorist and Foreign Fighter Travel Exercise Act of 2019 (HR 1590) – This bill promotes the identification and determent of terrorist activity from reaching the homeland, and enhances the United States government’s ability to respond to terrorism, including emerging threats. Specifically, the legislation requires the Department of Homeland Security to develop and conduct exercises related to foreign terrorism, including the National Incident Management System, National Response Plan, and other related plans and strategies. The legislation was introduced on March 7 by Rep. Michael Guest (R-MS). The president signed the bill into law on Oct. 9. Alaska Remote Generator Reliability and... View Article

  • How to Stay Safe with Business Email Compromise on the Rise

    Posted Date November 1, 2019 Posted Time 12:00 pm Published in

    According to a report by the Financial Crimes Enforcement Network (FinCEN) released in July, financial institutions have incurred more than $9 billion in losses due to Business Email Compromise (BEC) schemes since 2016. With such staggering losses, businesses and even individuals can’t afford to ignore BEC attacks. What is BEC? BEC fraud involves cyber thieves posing as company executives or a business contact with the intention to commit wire transfer fraud or obtain sensitive information. The main targets are businesses working with foreign suppliers or a business that carries out regular wire-transfer payments. To carry out this attack, criminals might... View Article

  • 5 Ways to Save on Holiday Gifting

    Posted Date November 1, 2019 Posted Time 12:00 pm Published in

    Believe it or not, the holidays are right around the corner. And try as you might, overspending is real – whether you plan ahead or wait until the last minute. With this in mind, here are a few ways to get a handle on spending and save money on gifting. Set Limits. Decide how much you’re going to spend overall on holiday gifts and how many people you’re buying for. Then do the math. For instance, you might want to spend $250 for 10 people. That’s $25 per person. However, there might be those you want to spend more on,... View Article

 

Copyrights @ 2019. James O. Taylor