Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
Saturday, December 31, 2011
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
Broward homicides rise slightly in 2011
A real estate agent whose body was found in a swampy area.
Five young men found slain inside vehicles. And a retired
multimillionaire who was bludgeoned, stabbed and shot.
Five young men found slain inside vehicles. And a retired
multimillionaire who was bludgeoned, stabbed and shot.
A classic Italian villa in Long Beach
Mature Cypresses line the driveway of a classic Italian villa
in a gated community in Long Beach. An arched entrance opens to
soaring ceilings hand-painted by artisans. Wall murals inspired by
different periods of art history, original plaster crown moldings
and floor-to-ceiling doors with arched tops continue throughout the
main living spaces.
in a gated community in Long Beach. An arched entrance opens to
soaring ceilings hand-painted by artisans. Wall murals inspired by
different periods of art history, original plaster crown moldings
and floor-to-ceiling doors with arched tops continue throughout the
main living spaces.
New high-end realty offices opening despite real estate downturn
Boutique firms in high-end niches are continuing to open even
as the number of licensed agents statewide shrinks. Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
as the number of licensed agents statewide shrinks. Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
Forgery among realtor wrongdoings
A handful of Abbotsford realtors were disciplined by the Real
Estate Council of B.C. last year, including one agent who forged
signatures on an agreement, and two others who had licences pulled
for several years.
Estate Council of B.C. last year, including one agent who forged
signatures on an agreement, and two others who had licences pulled
for several years.
Harrisburgs debt crisis hurts citys real estate market
Harrisburg's debt crisis and other negative factors are
devastating the capital's housing market, real estate agents say.
The sour economy, Harrisburg's troubled school district, crime and
infighting among city officials make it tough to find buyers, they
said.
devastating the capital's housing market, real estate agents say.
The sour economy, Harrisburg's troubled school district, crime and
infighting among city officials make it tough to find buyers, they
said.
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
Realty QA: Rent deposit dispute may mean small-claims court
When a real-estate agent or landlord won't refund a security
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
Realty QA: Rent deposit dispute may mean small-claims court
When a real-estate agent or landlord won't refund a security
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
Forgery among realtor wrongdoings
A handful of Abbotsford realtors were disciplined by the Real
Estate Council of B.C. last year, including one agent who forged
signatures on an agreement, and two others who had licences pulled
for several years.
Estate Council of B.C. last year, including one agent who forged
signatures on an agreement, and two others who had licences pulled
for several years.
Property4east extension for real estate agents and high end property specialists in Eastern Europe, the Middle East ...
LUXEMBOURG-- - Being able to offer the market
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
Home prices in largest U.S. cities fall in October from September
The SP/Case-Shiller index shows home prices dropped in
19 of 20 cities in October, dashing hopes that the sluggish housing
market was headed for an upturn.Home prices in the nation's largest
cities fell in October for the second straight month, suggesting
that prices will head down further next year and dashing hopes that
the sluggish housing market was headed for an upturn.
19 of 20 cities in October, dashing hopes that the sluggish housing
market was headed for an upturn.Home prices in the nation's largest
cities fell in October for the second straight month, suggesting
that prices will head down further next year and dashing hopes that
the sluggish housing market was headed for an upturn.
Brookfield Real Estate Champion of 20 Years Pat Mullikin Named JSOnline Agent of the Week
Flanked by her sons Ben and Martin, 20-year veteran Pat
Mullikin is a force to be reckoned with in the Metro Milwaukee real
estate market. Recognized as a "5 Star Agent" by Milwaukee Magazine
in 2009, 2010 and 2011, Pat tells the story of her success in an
interview that now appears in JSOnline's Real Estate Section.
...
Mullikin is a force to be reckoned with in the Metro Milwaukee real
estate market. Recognized as a "5 Star Agent" by Milwaukee Magazine
in 2009, 2010 and 2011, Pat tells the story of her success in an
interview that now appears in JSOnline's Real Estate Section.
...
New high-end realty offices opening despite real estate downturn
Boutique firms in high-end niches are continuing to open even
as the number of licensed agents statewide shrinks.Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
as the number of licensed agents statewide shrinks.Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
Property4east extension for real estate agents and high end property specialists in Eastern Europe, the Middle East ...
LUXEMBOURG-- - Being able to offer the market
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
D.C. real estate firm adapts to tech-savvy clients
Real estate agents Lindsay Dreyer and Tara Cellini have sold
homes to buyers they've never actually met. The tech-savvy duo
launched District-based City Chic Real Estate in March with the
idea that the Internet and consumer gadgets should be completely
integrated into the process of buying or selling a home. Read full
article
homes to buyers they've never actually met. The tech-savvy duo
launched District-based City Chic Real Estate in March with the
idea that the Internet and consumer gadgets should be completely
integrated into the process of buying or selling a home. Read full
article
Hoboken real estate agent ranks in top three statewide
A Hoboken real estate agent has been named one of the top
three RE/MAX associates in the state through November. Soha
Fontaine who has been with RE/MAX since 2004, was also ranked
number two in closed transactions.
three RE/MAX associates in the state through November. Soha
Fontaine who has been with RE/MAX since 2004, was also ranked
number two in closed transactions.
Payroll tax cut may hurt housing market
To pay for the two-month payroll tax cut, a small fee will be
levied for a decade on all mortgages sold to Fannie Mae and Freddie
Mac. That also makes it harder to overhaul the housing finance
system.The new mortgage fee to fund the temporary extension of the
payroll tax cut could damp the still-sluggish real estate market
and complicate efforts to overhaul the nation's wounded housing
finance system.
levied for a decade on all mortgages sold to Fannie Mae and Freddie
Mac. That also makes it harder to overhaul the housing finance
system.The new mortgage fee to fund the temporary extension of the
payroll tax cut could damp the still-sluggish real estate market
and complicate efforts to overhaul the nation's wounded housing
finance system.
Put conditions in writing when letting tenant alter property
Taking steps such as having the tenants and landlord sign an
agreement regarding the proposed work, and getting the proper
permits for the job, can avert disputes and headaches down the
road.Question: I own a second home that I rent to a couple. They
have lived there for eight months. Recently, the wife told me they
would like to install a 220-volt electrical outlet in the garage so
that they can use a heavy-duty washer/dryer combo. I trust them,
but I still want to check whether I am required to allow them to
make this alteration and, if so, what my rights are if something
goes wrong.
agreement regarding the proposed work, and getting the proper
permits for the job, can avert disputes and headaches down the
road.Question: I own a second home that I rent to a couple. They
have lived there for eight months. Recently, the wife told me they
would like to install a 220-volt electrical outlet in the garage so
that they can use a heavy-duty washer/dryer combo. I trust them,
but I still want to check whether I am required to allow them to
make this alteration and, if so, what my rights are if something
goes wrong.
Hoboken real estate agent leads company region in resale dollar volume
Elizabeth Rakela A Hoboken real estate agent was topped a
list of outstanding agents for her company. Weichert Realtors agent
Elizabeth Rakela was recognized for leading the region - which is
comprised of offices throughout Hudson, Passaic and Bergen
counties...
list of outstanding agents for her company. Weichert Realtors agent
Elizabeth Rakela was recognized for leading the region - which is
comprised of offices throughout Hudson, Passaic and Bergen
counties...
Ashburn real estate agent charged in mortgage fraud scheme
An Ashburn real estate agent has been indicted on fraud
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
Property4east extension for real estate agents and high end property specialists in Eastern Europe, the Middle East ...
LUXEMBOURG-- - Being able to offer the market
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
exclusiveproperty is becoming more and moredifficult for both real
estate agents and high end propertyspecialist inEastern Europe and
the Middle East. Today's ...
Realty QA: Rent deposit dispute may mean small-claims court
When a real-estate agent or landlord won't refund a security
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
deposit, the tenant's only recourse may be small-claims court, Lew
Sichelman writes.
Broward homicides rise slightly in 2011
A real estate agent whose body was found in a swampy area.
Five young men found slain inside vehicles. And a retired
multimillionaire who was bludgeoned, stabbed and shot.
Five young men found slain inside vehicles. And a retired
multimillionaire who was bludgeoned, stabbed and shot.
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
Ashburn real estate agent charged in mortgage fraud scheme
An Ashburn real estate agent has been indicted on fraud
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
Homeowners want to change association board's meeting time
How can owners get the board to change the meeting time?
Also: An association dislikes the way its management company
handles its money.Question: Our monthly homeowner association board
meetings are Wednesdays at 4 p.m., when most owners are at work.
This ensures a low turnout. Of 200 owners, maybe two can attend.
How can owners get the board to change the meeting time?
Also: An association dislikes the way its management company
handles its money.Question: Our monthly homeowner association board
meetings are Wednesdays at 4 p.m., when most owners are at work.
This ensures a low turnout. Of 200 owners, maybe two can attend.
How can owners get the board to change the meeting time?
Pomona hills home retains touches of elegance
A Mediterranean Revival estate in Pomona's Ganesha Hills
built in 1930 for Cora Armour, a prominent local resident, retains
the trappings of an earlier elegance. Among custom details are high
gable ceilings with original painted panels in the dining room, an
apse that takes in the views of the valley and a motorized vehicle
turntable in the oversized garage.
built in 1930 for Cora Armour, a prominent local resident, retains
the trappings of an earlier elegance. Among custom details are high
gable ceilings with original painted panels in the dining room, an
apse that takes in the views of the valley and a motorized vehicle
turntable in the oversized garage.
Tori Spelling and Dean McDermott's new reality
The couple sell their Encino home, which was featured in
their reality show, 'Tori Dean: Home Sweet Hollywood,' and
buy a new home in Malibu.From all appearances, Tori Spelling and
Dean McDermott have had a hectic year, juggling multiple television
shows and real estate transactions. Most recently, they sold their
Encino home for $2.5 million.
their reality show, 'Tori Dean: Home Sweet Hollywood,' and
buy a new home in Malibu.From all appearances, Tori Spelling and
Dean McDermott have had a hectic year, juggling multiple television
shows and real estate transactions. Most recently, they sold their
Encino home for $2.5 million.
Bridging the great divide between home buyers and sellers
With mortgage rates below 4% and prices near bottom in many
markets, it's a good time to buy a house. But many owners won't
sell because they can't get the price they want.Where do you side
in the great real estate buy-sell divide of 2012? If you're a
homeowner considering selling sometime in the new year, are you
apprehensive that you won't get the price you need or want, and
therefore it's possible you won't even try to sell?
markets, it's a good time to buy a house. But many owners won't
sell because they can't get the price they want.Where do you side
in the great real estate buy-sell divide of 2012? If you're a
homeowner considering selling sometime in the new year, are you
apprehensive that you won't get the price you need or want, and
therefore it's possible you won't even try to sell?
Hot Property: Dennis Quaid sells Pacific Palisades estate
The actor's property, which sells for $9.5 million, came on
the market in March at $16.5 million.Actor Dennis Quaid has sold
his equestrian estate in Pacific Palisades for $9.5 million.
the market in March at $16.5 million.Actor Dennis Quaid has sold
his equestrian estate in Pacific Palisades for $9.5 million.
Free Real Estate Marketing
Get quality referrals and leads. Post Flash Property Listings
(up to 10 photos per listing, no limits). Upgrade to Photo /
Premium Agent Listing for free. If you are a 4-Star Agent or
Broker, you should check IQRealEstate.com out. Over 900,000 agents
listed. We are by far the Fastest Growing Directory online. Over
300,000 pages indexed in search engines. Be IQ Smart.
(up to 10 photos per listing, no limits). Upgrade to Photo /
Premium Agent Listing for free. If you are a 4-Star Agent or
Broker, you should check IQRealEstate.com out. Over 900,000 agents
listed. We are by far the Fastest Growing Directory online. Over
300,000 pages indexed in search engines. Be IQ Smart.
Ashburn real estate agent charged in mortgage fraud scheme
An Ashburn real estate agent has been indicted on fraud
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
charges for his alleged role in a $7 million mortgage fraud scheme.
Prosecutors said 29-year-old Nadin Samnang's scheme involved at
least 25 homes in Northern Virginia. He was charged with
conspiracy, wire fraud and mail fraud in federal court in
Alexandria. Samnang used his position as a real estate agent to
defraud mortgage lenders ...
How to Sell Your Florida Commercial Real Estate Property
Today commercial real estate is gaining popular more than
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
ever but it is still a difficult venture especially for first time
real estate agent. This can cost huge amount of money.
New high-end realty offices opening despite real estate downturn
Boutique firms in high-end niches are continuing to open even
as the number of licensed agents statewide shrinks. Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
as the number of licensed agents statewide shrinks. Despite the
tanking of the housing market, posh new realty offices have
continued to open their doors, particularly in upper-priced Los
Angeles-area communities where agents need only a few sales a year
to make a living.
D.C. real estate firm adapts to tech-savvy clients
Real estate agents Lindsay Dreyer and Tara Cellini have sold
homes to buyers they've never actually met. The tech-savvy duo
launched District-based City Chic Real Estate in March with the
idea that the Internet and consumer gadgets should be completely
integrated into the process of buying or selling a home. Read full
article
homes to buyers they've never actually met. The tech-savvy duo
launched District-based City Chic Real Estate in March with the
idea that the Internet and consumer gadgets should be completely
integrated into the process of buying or selling a home. Read full
article
Harrisburgs debt crisis hurts citys real estate market
Harrisburg's debt crisis and other negative factors are
devastating the capital's housing market, real estate agents say.
The sour economy, Harrisburg's troubled school district, crime and
infighting among city officials make it tough to find buyers, they
said.
devastating the capital's housing market, real estate agents say.
The sour economy, Harrisburg's troubled school district, crime and
infighting among city officials make it tough to find buyers, they
said.
Wednesday, December 28, 2011
4 Career To-Dos Before Ringing in the New Year - Blog posts
For career success in 2012, try out a few tips before the
calendar turns over to the new year.
calendar turns over to the new year.
Why You Should Have a Job in College - Blog posts
Holding down a job while you're still an undergrad gives you
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
3 LinkedIn Profile Settings You Probably Don't Know About but Probably Should - Blog posts
Guest Blogger Joshua Waldman shares his expert knowledge of
how you can be better utilizing LinkedIn to get noticed by
recruiters.
how you can be better utilizing LinkedIn to get noticed by
recruiters.
An Elf's Cover Letter - Blog posts
Ever wonder what an application to work in Santa's workshop
would look like? Here's your answer.
would look like? Here's your answer.
3 Things Employers Look For in an Interview - Advice
Interviewers are hoping to explore a few basic areas. Confirm
what they are already predisposed to believe: that hiring you is a
wise move.
what they are already predisposed to believe: that hiring you is a
wise move.
Why You Should Have a Job in College - Blog posts
Holding down a job while you're still an undergrad gives you
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
Foreign Income Reporting IRS Publication 515
IRS Publication 515, Withholding of Tax on Nonresident Aliens
and Foreign Entities, includes a table of incomesource rules,
including pay for personal services, interest,rents,
royalties, income from naturalresources, scholarship and
fellowshipgrants, and guarantees of indebtedness. I must
write from experience that identifying income is best accomplished
if the typeof income named on an invoice is
and Foreign Entities, includes a table of incomesource rules,
including pay for personal services, interest,rents,
royalties, income from naturalresources, scholarship and
fellowshipgrants, and guarantees of indebtedness. I must
write from experience that identifying income is best accomplished
if the typeof income named on an invoice is
IRS Request for Miscellaneous Determination IRS Form 8940
The IRS has releasedForm 8940,Request for
Miscellaneous Determinationthat tax-exempt organizations will
use to request certain determinationsabout their tax-exempt
status. In addition to foundation status issues,
organizations will use this new formto obtain advance
approval of certain activities and exemption from IRS Form 990
filing requirements. Organizations applying for recognition
of exemption and at the same
Miscellaneous Determinationthat tax-exempt organizations will
use to request certain determinationsabout their tax-exempt
status. In addition to foundation status issues,
organizations will use this new formto obtain advance
approval of certain activities and exemption from IRS Form 990
filing requirements. Organizations applying for recognition
of exemption and at the same
IRS Form 8941 Small Business Health Care Tax Credit
Check out IRS Form 8941, Credit for Small Employer Health
Insurance Premiums (PDF) if you are interested in the small
business health care tax credit. Many small employers that pay at
least half of the premiums for employee health insurance coverage
under a qualifying arrangement may be eligible for the small
business health care tax
Insurance Premiums (PDF) if you are interested in the small
business health care tax credit. Many small employers that pay at
least half of the premiums for employee health insurance coverage
under a qualifying arrangement may be eligible for the small
business health care tax
IRS Form 1099-K Banks Not to be Penalized for Reporting Information Incorrectly
Okay this blew my mind today. The IRS is providing special
relief to banks and other payment settlement entities required to
begin reporting payment card and third-party network transactions
to the IRS on new Form 1099-K. Payers (Banks) have to make
good-faith efforts to file accurate 1099-Ks, but the IRS will not
penalize for incorrect
relief to banks and other payment settlement entities required to
begin reporting payment card and third-party network transactions
to the IRS on new Form 1099-K. Payers (Banks) have to make
good-faith efforts to file accurate 1099-Ks, but the IRS will not
penalize for incorrect
Municipal Bond Interest Can Be Taxable Make Sure You Trust Your Broker Is Competent
I am so sick and tired of late night commercials selling
snake oil. My latest angst comes from claims of tax free municipal
bonds. Not all municipal bonds offer tax free interest so the next
time slick Rick the broker harasses you to buy his latest municipal
bond be sure to ask him if the
snake oil. My latest angst comes from claims of tax free municipal
bonds. Not all municipal bonds offer tax free interest so the next
time slick Rick the broker harasses you to buy his latest municipal
bond be sure to ask him if the
IRS Publication 78 Online Tool for Researching Charitable Organizations
Now is a GREAT TIME OF YEAR TO MAKE A CHARITABLE DONATION if
you are so fortunate. When you make a donation to a charity you may
be able to take a deduction for it on your tax return as long as
you secure the proper documentation substantiating the donation and
its subsequent value. In
you are so fortunate. When you make a donation to a charity you may
be able to take a deduction for it on your tax return as long as
you secure the proper documentation substantiating the donation and
its subsequent value. In
Tax Treatment of Incentive Stock Options (ISOs): Qualifying Disposition
Incentive Stock Options (ISO) are taxed based on how and when
the stock is disposed and whether the disposition is qualifying or
non-qualifying. Disposition of stock is typically when the employee
sells the stock, transfers the stock to another person or gives the
stock to charity. A qualifying disposition simply means that the
stock, acquired
the stock is disposed and whether the disposition is qualifying or
non-qualifying. Disposition of stock is typically when the employee
sells the stock, transfers the stock to another person or gives the
stock to charity. A qualifying disposition simply means that the
stock, acquired
Reconstruction of Tax Records
Treasury Regulation 1.274-5allows for a deduction
without complete documentation if you can show that you have
substantially complied with adequate adequate record keeping
requirements. This statute is code for be nice to your examiner.
Basically the practice of disallowing amounts claimed because there
is no documentary evidence available to establish precise amounts
beyond a
without complete documentation if you can show that you have
substantially complied with adequate adequate record keeping
requirements. This statute is code for be nice to your examiner.
Basically the practice of disallowing amounts claimed because there
is no documentary evidence available to establish precise amounts
beyond a
IRS Worker Classification Settlement Program IRS Form 8952
If you are an employer you can appreciate the fact that
everyone working for you it seems wants to be an independent
contractor until they get injured on the job or get pissed off at
you and seek relief outside of your organization. Employees and the
subsequent employment tax liability they bring can be a
everyone working for you it seems wants to be an independent
contractor until they get injured on the job or get pissed off at
you and seek relief outside of your organization. Employees and the
subsequent employment tax liability they bring can be a
Mortgage Interest Allocation
I received a very interesting question from my last post on
mortgage interest concerning allocation for tax deduction purposes.
This post is a summary of research conducted in these regards on
theNational Association of Enrolled Agentsweb site. For
example sake generally speaking if you have a $110,000 mortgage
outstanding on your personal residence and this
mortgage interest concerning allocation for tax deduction purposes.
This post is a summary of research conducted in these regards on
theNational Association of Enrolled Agentsweb site. For
example sake generally speaking if you have a $110,000 mortgage
outstanding on your personal residence and this
4 Career To-Dos Before Ringing in the New Year - Blog posts
For career success in 2012, try out a few tips before the
calendar turns over to the new year.
calendar turns over to the new year.
An Elf's Cover Letter - Blog posts
Ever wonder what an application to work in Santa's workshop
would look like? Here's your answer.
would look like? Here's your answer.
Late Filing 1120 Penalties
For those of you just now starting to get failure to timely
file notices for your Subchapter S Corporation, the only relief
available to the S corporation for the failure to timely file
penalty under §6699 is reasonable cause. There are no provisions
like those in partnership laws that allow the penalty to be
abated
file notices for your Subchapter S Corporation, the only relief
available to the S corporation for the failure to timely file
penalty under §6699 is reasonable cause. There are no provisions
like those in partnership laws that allow the penalty to be
abated
Mortgage Refinancing Tax Deductible Expenses
With mortgage rates at levels not seen in generations and the
banks finally starting to lend again many people have been calling
with questions about the tax implications of refinancing. It can be
a little confusing and this is my best attempt at explaining it in
general terms without hitting line item detail of a
banks finally starting to lend again many people have been calling
with questions about the tax implications of refinancing. It can be
a little confusing and this is my best attempt at explaining it in
general terms without hitting line item detail of a
What is a Foreigner for US Tax Purposes? IRS Forms W-8BEN + 1042-S
I have had the pleasure of helping many people new to either
living or conducting business in the USA determine their tax
liability to the US Treasury and have grown increasingly surprised
about the confusion over who or what type of entity is considered a
foreigner for US Tax purposes. Correctly making this determination
is
living or conducting business in the USA determine their tax
liability to the US Treasury and have grown increasingly surprised
about the confusion over who or what type of entity is considered a
foreigner for US Tax purposes. Correctly making this determination
is
2011 Per Diem Rates for Employee and Business Expenses
Revenue Procedure 2011-47provides rules for using a per
diem rate to substantiate the amount of an employees expenses for
lodging, meals and incidental expenses that an employer reimburses.
Employees and self-employed individuals who deduct un-reimbursed
expenses for travel away from home may use a per diem rate for
meals and incidental expenses under this revenue
diem rate to substantiate the amount of an employees expenses for
lodging, meals and incidental expenses that an employer reimburses.
Employees and self-employed individuals who deduct un-reimbursed
expenses for travel away from home may use a per diem rate for
meals and incidental expenses under this revenue
Tax Practitioner Fraud and Incompetence United States Treasury Circular 230
Lately Ive been getting deluged with cases involving blatant
US Treasury Circular 230 violators of regulations governing
practice before the Internal Revenue Service. The perpetrators it
seems come from all walks of life, some are unregulated tax return
preparers while others carry multiple licenses, designations and/or
degrees. The accumulated data however indicates that the
most
US Treasury Circular 230 violators of regulations governing
practice before the Internal Revenue Service. The perpetrators it
seems come from all walks of life, some are unregulated tax return
preparers while others carry multiple licenses, designations and/or
degrees. The accumulated data however indicates that the
most
An Elf's Cover Letter - Blog posts
Ever wonder what an application to work in Santa's workshop
would look like? Here's your answer.
would look like? Here's your answer.
Retirement Savings Required Minimum Distributions (RMDs)
Many people turning 70 see themselves in the prime of their
life. A pervasive problem among this group is this idea of a
Required Minimum Distribution (RMD) from their retirement savings
accounts. Many people do not like to withdraw money from their
retirement accounts particularly with investments still negligibly
recovering from the crash of 2008.
life. A pervasive problem among this group is this idea of a
Required Minimum Distribution (RMD) from their retirement savings
accounts. Many people do not like to withdraw money from their
retirement accounts particularly with investments still negligibly
recovering from the crash of 2008.
4 Career To-Dos Before Ringing in the New Year - Blog posts
For career success in 2012, try out a few tips before the
calendar turns over to the new year.
calendar turns over to the new year.
Alternative Minimum Tax AMT and Unexpected Investment Income
It is no secret that the US Congress growing inability to
agree on matters of substance is both disturbing and frustrating.
The Alternative Minimum Tax (AMT) problem of not automatically
adjusting for inflation is yet another example of the collective
ineptitude of our elected officials. Without a comprehensive
solution this FLAT TAX will eventually hit
agree on matters of substance is both disturbing and frustrating.
The Alternative Minimum Tax (AMT) problem of not automatically
adjusting for inflation is yet another example of the collective
ineptitude of our elected officials. Without a comprehensive
solution this FLAT TAX will eventually hit
IRS Collection Limitations
There are several options available through the IRS to
resolve delinquent tax obligations and/or request relief. One
of the many reasons you need to be careful when engaging the IRS in
these regards is because many of the programs including offer in
compromise, collection due process appeal, and innocent spouse
request extend the amount of
resolve delinquent tax obligations and/or request relief. One
of the many reasons you need to be careful when engaging the IRS in
these regards is because many of the programs including offer in
compromise, collection due process appeal, and innocent spouse
request extend the amount of
IRS Offers in Compromise Work Under the Right Circumstances, but .
The Offer In Compromise (OIC) is prepared on IRS Form 656 and
must include a detailed statement of financial position with
substantiating documentation (bank statements etc.) prepared on one
of the many IRS Form 433s. To know which 433 to fill out I suggest
reading the OIC booklet produced on IRS Form 656-B. Not
every
must include a detailed statement of financial position with
substantiating documentation (bank statements etc.) prepared on one
of the many IRS Form 433s. To know which 433 to fill out I suggest
reading the OIC booklet produced on IRS Form 656-B. Not
every
Nonprofit Formation IRS Form 1023
Your organization can indeed bea nonprofit organization
within your state but not be tax-exempt with theIRS. The only
way to obtain FEDERAL 501(c)(3) tax-exempt status is to
fileIRS Form 1023. Ive done this many times and felt
compelled to blog about it today because the general confusion in
these regards is astounding and the fees
within your state but not be tax-exempt with theIRS. The only
way to obtain FEDERAL 501(c)(3) tax-exempt status is to
fileIRS Form 1023. Ive done this many times and felt
compelled to blog about it today because the general confusion in
these regards is astounding and the fees
3 LinkedIn Profile Settings You Probably Don't Know About but Probably Should - Blog posts
Guest Blogger Joshua Waldman shares his expert knowledge of
how you can be better utilizing LinkedIn to get noticed by
recruiters.
how you can be better utilizing LinkedIn to get noticed by
recruiters.
Handling Rejection After the Job Interview - Blog posts
Don't let a job rejection get you down. Here's some advice on
what your course of action should be after you're turned down for a
position.
what your course of action should be after you're turned down for a
position.
First Time Home Buyer Credit
Many taxpayers who claimed the first time home buyers credit
are having their tax returns examined by the IRS. Turns out
generally that this credit is not being properly reported. Even tax
practitioners are demonstrating incompetence when it comes to
preparing, signing and filing tax returns of this nature. This is
becoming a real mess
are having their tax returns examined by the IRS. Turns out
generally that this credit is not being properly reported. Even tax
practitioners are demonstrating incompetence when it comes to
preparing, signing and filing tax returns of this nature. This is
becoming a real mess
Surviving Spouse Estate Gift Tax Exclusion
IRS Notice 2011-82 makes available the ability for taxpayers
topass along their unused estate gift tax exclusion
amounts to their surviving spouse if an estate tax return is filed.
This new portability election allows estates of married taxpayers
to pass along the unused part of their exclusion amount ($5 million
cap in 2011) to
topass along their unused estate gift tax exclusion
amounts to their surviving spouse if an estate tax return is filed.
This new portability election allows estates of married taxpayers
to pass along the unused part of their exclusion amount ($5 million
cap in 2011) to
IRS Audit Guidelines Assessing Asset Dissipation
If you are delinquent on taxes you may be considering some
IRS payment arrangement whereby your total tax liability will be
considered satisfied in exchange for a payment plan that is less
then the full amount owed. Twodifferent plans that I have had
success with lately are Offers In Compromise and Partial Payment
Installment Agreements.Usually
IRS payment arrangement whereby your total tax liability will be
considered satisfied in exchange for a payment plan that is less
then the full amount owed. Twodifferent plans that I have had
success with lately are Offers In Compromise and Partial Payment
Installment Agreements.Usually
Severance Payments and FICA Tax
Generally severance payments made to terminated employees
have been held by the US Tax Court to be FICA wages because the
definition of wages for FICA purposes found in the Internal Revenue
Code is so broad. Wages include all remuneration or money paid for
employment with 23 listed statutory exceptions to the definition. A
federal
have been held by the US Tax Court to be FICA wages because the
definition of wages for FICA purposes found in the Internal Revenue
Code is so broad. Wages include all remuneration or money paid for
employment with 23 listed statutory exceptions to the definition. A
federal
IRS Statistics of Sole Proprietor Income
Approximately 22.7 million individual income tax returns
reported non-farm sole proprietorship profits of $244.8 billion for
tax year 2009 according to the recently released Statistics of
Income Quarterly Report. Check it out here - Summer 2011
Some other points worth noting in my opinion include: 1. For tax
year 2008, almost 67,000 foreign-controlled domestic
corporations
reported non-farm sole proprietorship profits of $244.8 billion for
tax year 2009 according to the recently released Statistics of
Income Quarterly Report. Check it out here - Summer 2011
Some other points worth noting in my opinion include: 1. For tax
year 2008, almost 67,000 foreign-controlled domestic
corporations
3 LinkedIn Profile Settings You Probably Don't Know About but Probably Should - Blog posts
Guest Blogger Joshua Waldman shares his expert knowledge of
how you can be better utilizing LinkedIn to get noticed by
recruiters.
how you can be better utilizing LinkedIn to get noticed by
recruiters.
Why You Should Have a Job in College - Blog posts
Holding down a job while you're still an undergrad gives you
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
Handling Rejection After the Job Interview - Blog posts
Don't let a job rejection get you down. Here's some advice on
what your course of action should be after you're turned down for a
position.
what your course of action should be after you're turned down for a
position.
6 ways to throw a great party for less
Ring in the New Year on the cheap with these party tips from
the pros.
the pros.
4 Career To-Dos Before Ringing in the New Year - Blog posts
For career success in 2012, try out a few tips before the
calendar turns over to the new year.
calendar turns over to the new year.
Video: Switch banks if fees rise
Consumers are willing to switch financial institutions if
their checkingfees increase.
their checkingfees increase.
3 LinkedIn Profile Settings You Probably Don't Know About but Probably Should - Blog posts
Guest Blogger Joshua Waldman shares his expert knowledge of
how you can be better utilizing LinkedIn to get noticed by
recruiters.
how you can be better utilizing LinkedIn to get noticed by
recruiters.
An Elf's Cover Letter - Blog posts
Ever wonder what an application to work in Santa's workshop
would look like? Here's your answer.
would look like? Here's your answer.
Pay 30-year loan vs. refinance to 15 years
Paying down your mortgage before retiring is a great idea.
Consider refinancing, too.
Consider refinancing, too.
'The craziest thing I did to save money'
Consumers get creative and colorfulwhen they are forced
to stretch their dollars!
to stretch their dollars!
Handling Rejection After the Job Interview - Blog posts
Don't let a job rejection get you down. Here's some advice on
what your course of action should be after you're turned down for a
position.
what your course of action should be after you're turned down for a
position.
12 top tips for buying the right car in 2012
Looking to trade in your chariot? This road map will put you
on the path to an affordable car deal.
on the path to an affordable car deal.
Companies with the most job layoffs in 2011
Do you have a job? Be thankful you weren't involved in one of
the year's biggest layoffs.
the year's biggest layoffs.
Cut taxes with early mortgage payment
Paying your January mortgage and annual property tax bill in
December can pay off at tax-filing time.
December can pay off at tax-filing time.
Why You Should Have a Job in College - Blog posts
Holding down a job while you're still an undergrad gives you
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
great experience before you embark on your post-college, full-time
position-not to mention a few other perks.
Tuesday, December 27, 2011
Hark The Herald
Ben takes a good look at the song Hark The Herald by Charles
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
Simple Obedience
The Christmas story is filled with people who listen to God.
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
What God has Spoken, Let it be True
God speaks to you! Even if you dont know it! But when it
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
Mary - An Ordinary Person used by God
We often rule ourselves out of doing things saying, God wont
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
O Come All Ye Faithful
Today Simon looks at the truth behind the popular carol "O
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
Tax Treatment of Incentive Stock Options (ISOs): Qualifying Disposition
Incentive Stock Options (ISO) are taxed based on how and when
the stock is disposed and whether the disposition is qualifying or
non-qualifying. Disposition of stock is typically when the employee
sells the stock, transfers the stock to another person or gives the
stock to charity. A qualifying disposition simply means that the
stock, acquired
the stock is disposed and whether the disposition is qualifying or
non-qualifying. Disposition of stock is typically when the employee
sells the stock, transfers the stock to another person or gives the
stock to charity. A qualifying disposition simply means that the
stock, acquired
IRS Form 1099-K Banks Not to be Penalized for Reporting Information Incorrectly
Okay this blew my mind today. The IRS is providing special
relief to banks and other payment settlement entities required to
begin reporting payment card and third-party network transactions
to the IRS on new Form 1099-K. Payers (Banks) have to make
good-faith efforts to file accurate 1099-Ks, but the IRS will not
penalize for incorrect
relief to banks and other payment settlement entities required to
begin reporting payment card and third-party network transactions
to the IRS on new Form 1099-K. Payers (Banks) have to make
good-faith efforts to file accurate 1099-Ks, but the IRS will not
penalize for incorrect
2011 Per Diem Rates for Employee and Business Expenses
Revenue Procedure 2011-47provides rules for using a per
diem rate to substantiate the amount of an employees expenses for
lodging, meals and incidental expenses that an employer reimburses.
Employees and self-employed individuals who deduct un-reimbursed
expenses for travel away from home may use a per diem rate for
meals and incidental expenses under this revenue
diem rate to substantiate the amount of an employees expenses for
lodging, meals and incidental expenses that an employer reimburses.
Employees and self-employed individuals who deduct un-reimbursed
expenses for travel away from home may use a per diem rate for
meals and incidental expenses under this revenue
Foreign Income Reporting IRS Publication 515
IRS Publication 515, Withholding of Tax on Nonresident Aliens
and Foreign Entities, includes a table of incomesource rules,
including pay for personal services, interest,rents,
royalties, income from naturalresources, scholarship and
fellowshipgrants, and guarantees of indebtedness. I must
write from experience that identifying income is best accomplished
if the typeof income named on an invoice is
and Foreign Entities, includes a table of incomesource rules,
including pay for personal services, interest,rents,
royalties, income from naturalresources, scholarship and
fellowshipgrants, and guarantees of indebtedness. I must
write from experience that identifying income is best accomplished
if the typeof income named on an invoice is
First Time Home Buyer Credit
Many taxpayers who claimed the first time home buyers credit
are having their tax returns examined by the IRS. Turns out
generally that this credit is not being properly reported. Even tax
practitioners are demonstrating incompetence when it comes to
preparing, signing and filing tax returns of this nature. This is
becoming a real mess
are having their tax returns examined by the IRS. Turns out
generally that this credit is not being properly reported. Even tax
practitioners are demonstrating incompetence when it comes to
preparing, signing and filing tax returns of this nature. This is
becoming a real mess
Nonprofit Formation IRS Form 1023
Your organization can indeed bea nonprofit organization
within your state but not be tax-exempt with theIRS. The only
way to obtain FEDERAL 501(c)(3) tax-exempt status is to
fileIRS Form 1023. Ive done this many times and felt
compelled to blog about it today because the general confusion in
these regards is astounding and the fees
within your state but not be tax-exempt with theIRS. The only
way to obtain FEDERAL 501(c)(3) tax-exempt status is to
fileIRS Form 1023. Ive done this many times and felt
compelled to blog about it today because the general confusion in
these regards is astounding and the fees
Retirement Savings Required Minimum Distributions (RMDs)
Many people turning 70 see themselves in the prime of their
life. A pervasive problem among this group is this idea of a
Required Minimum Distribution (RMD) from their retirement savings
accounts. Many people do not like to withdraw money from their
retirement accounts particularly with investments still negligibly
recovering from the crash of 2008.
life. A pervasive problem among this group is this idea of a
Required Minimum Distribution (RMD) from their retirement savings
accounts. Many people do not like to withdraw money from their
retirement accounts particularly with investments still negligibly
recovering from the crash of 2008.
7 reasons why you should refinance
A refinance can make sense for many reasons, from getting a
lower rate to consolidating debt.
lower rate to consolidating debt.
12 mortgage moves for you to buy home in 2012
The mortgage market has been tight in the downturn. These
tips will help you snag a loan.
tips will help you snag a loan.
Reconstruction of Tax Records
Treasury Regulation 1.274-5allows for a deduction
without complete documentation if you can show that you have
substantially complied with adequate adequate record keeping
requirements. This statute is code for be nice to your examiner.
Basically the practice of disallowing amounts claimed because there
is no documentary evidence available to establish precise amounts
beyond a
without complete documentation if you can show that you have
substantially complied with adequate adequate record keeping
requirements. This statute is code for be nice to your examiner.
Basically the practice of disallowing amounts claimed because there
is no documentary evidence available to establish precise amounts
beyond a
Best place to park short-term savings
If your rainy day is three years away, consider a short-term
bond fund.
bond fund.
Mary - An Ordinary Person used by God
We often rule ourselves out of doing things saying, God wont
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
O Come All Ye Faithful
Today Simon looks at the truth behind the popular carol "O
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
4 steps to donating after a disaster
Disaster strikes and you want to help. These steps will help
you choose the right charity.
you choose the right charity.
Late Filing 1120 Penalties
For those of you just now starting to get failure to timely
file notices for your Subchapter S Corporation, the only relief
available to the S corporation for the failure to timely file
penalty under §6699 is reasonable cause. There are no provisions
like those in partnership laws that allow the penalty to be
abated
file notices for your Subchapter S Corporation, the only relief
available to the S corporation for the failure to timely file
penalty under §6699 is reasonable cause. There are no provisions
like those in partnership laws that allow the penalty to be
abated
Hark The Herald
Ben takes a good look at the song Hark The Herald by Charles
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
IRS Offers in Compromise Work Under the Right Circumstances, but .
The Offer In Compromise (OIC) is prepared on IRS Form 656 and
must include a detailed statement of financial position with
substantiating documentation (bank statements etc.) prepared on one
of the many IRS Form 433s. To know which 433 to fill out I suggest
reading the OIC booklet produced on IRS Form 656-B. Not
every
must include a detailed statement of financial position with
substantiating documentation (bank statements etc.) prepared on one
of the many IRS Form 433s. To know which 433 to fill out I suggest
reading the OIC booklet produced on IRS Form 656-B. Not
every
12 smart savings tips that yield return in 2012
Building savings for the future has gotten more costly. Put
more money away with these tips.
more money away with these tips.
Divorce no protection from ex's bankruptcy
Learn your legal options and financial obligations if an
ex-spouse is considering a bankruptcy.
ex-spouse is considering a bankruptcy.
IRS Worker Classification Settlement Program IRS Form 8952
If you are an employer you can appreciate the fact that
everyone working for you it seems wants to be an independent
contractor until they get injured on the job or get pissed off at
you and seek relief outside of your organization. Employees and the
subsequent employment tax liability they bring can be a
everyone working for you it seems wants to be an independent
contractor until they get injured on the job or get pissed off at
you and seek relief outside of your organization. Employees and the
subsequent employment tax liability they bring can be a
Surviving Spouse Estate Gift Tax Exclusion
IRS Notice 2011-82 makes available the ability for taxpayers
topass along their unused estate gift tax exclusion
amounts to their surviving spouse if an estate tax return is filed.
This new portability election allows estates of married taxpayers
to pass along the unused part of their exclusion amount ($5 million
cap in 2011) to
topass along their unused estate gift tax exclusion
amounts to their surviving spouse if an estate tax return is filed.
This new portability election allows estates of married taxpayers
to pass along the unused part of their exclusion amount ($5 million
cap in 2011) to
IRS Form 8941 Small Business Health Care Tax Credit
Check out IRS Form 8941, Credit for Small Employer Health
Insurance Premiums (PDF) if you are interested in the small
business health care tax credit. Many small employers that pay at
least half of the premiums for employee health insurance coverage
under a qualifying arrangement may be eligible for the small
business health care tax
Insurance Premiums (PDF) if you are interested in the small
business health care tax credit. Many small employers that pay at
least half of the premiums for employee health insurance coverage
under a qualifying arrangement may be eligible for the small
business health care tax
Alternative Minimum Tax AMT and Unexpected Investment Income
It is no secret that the US Congress growing inability to
agree on matters of substance is both disturbing and frustrating.
The Alternative Minimum Tax (AMT) problem of not automatically
adjusting for inflation is yet another example of the collective
ineptitude of our elected officials. Without a comprehensive
solution this FLAT TAX will eventually hit
agree on matters of substance is both disturbing and frustrating.
The Alternative Minimum Tax (AMT) problem of not automatically
adjusting for inflation is yet another example of the collective
ineptitude of our elected officials. Without a comprehensive
solution this FLAT TAX will eventually hit
What is a Foreigner for US Tax Purposes? IRS Forms W-8BEN + 1042-S
I have had the pleasure of helping many people new to either
living or conducting business in the USA determine their tax
liability to the US Treasury and have grown increasingly surprised
about the confusion over who or what type of entity is considered a
foreigner for US Tax purposes. Correctly making this determination
is
living or conducting business in the USA determine their tax
liability to the US Treasury and have grown increasingly surprised
about the confusion over who or what type of entity is considered a
foreigner for US Tax purposes. Correctly making this determination
is
IRS Audit Guidelines Assessing Asset Dissipation
If you are delinquent on taxes you may be considering some
IRS payment arrangement whereby your total tax liability will be
considered satisfied in exchange for a payment plan that is less
then the full amount owed. Twodifferent plans that I have had
success with lately are Offers In Compromise and Partial Payment
Installment Agreements.Usually
IRS payment arrangement whereby your total tax liability will be
considered satisfied in exchange for a payment plan that is less
then the full amount owed. Twodifferent plans that I have had
success with lately are Offers In Compromise and Partial Payment
Installment Agreements.Usually
Mortgage Refinancing Tax Deductible Expenses
With mortgage rates at levels not seen in generations and the
banks finally starting to lend again many people have been calling
with questions about the tax implications of refinancing. It can be
a little confusing and this is my best attempt at explaining it in
general terms without hitting line item detail of a
banks finally starting to lend again many people have been calling
with questions about the tax implications of refinancing. It can be
a little confusing and this is my best attempt at explaining it in
general terms without hitting line item detail of a
Municipal Bond Interest Can Be Taxable Make Sure You Trust Your Broker Is Competent
I am so sick and tired of late night commercials selling
snake oil. My latest angst comes from claims of tax free municipal
bonds. Not all municipal bonds offer tax free interest so the next
time slick Rick the broker harasses you to buy his latest municipal
bond be sure to ask him if the
snake oil. My latest angst comes from claims of tax free municipal
bonds. Not all municipal bonds offer tax free interest so the next
time slick Rick the broker harasses you to buy his latest municipal
bond be sure to ask him if the
Mortgage Interest Allocation
I received a very interesting question from my last post on
mortgage interest concerning allocation for tax deduction purposes.
This post is a summary of research conducted in these regards on
theNational Association of Enrolled Agentsweb site. For
example sake generally speaking if you have a $110,000 mortgage
outstanding on your personal residence and this
mortgage interest concerning allocation for tax deduction purposes.
This post is a summary of research conducted in these regards on
theNational Association of Enrolled Agentsweb site. For
example sake generally speaking if you have a $110,000 mortgage
outstanding on your personal residence and this
IRS Collection Limitations
There are several options available through the IRS to
resolve delinquent tax obligations and/or request relief. One
of the many reasons you need to be careful when engaging the IRS in
these regards is because many of the programs including offer in
compromise, collection due process appeal, and innocent spouse
request extend the amount of
resolve delinquent tax obligations and/or request relief. One
of the many reasons you need to be careful when engaging the IRS in
these regards is because many of the programs including offer in
compromise, collection due process appeal, and innocent spouse
request extend the amount of
Severance Payments and FICA Tax
Generally severance payments made to terminated employees
have been held by the US Tax Court to be FICA wages because the
definition of wages for FICA purposes found in the Internal Revenue
Code is so broad. Wages include all remuneration or money paid for
employment with 23 listed statutory exceptions to the definition. A
federal
have been held by the US Tax Court to be FICA wages because the
definition of wages for FICA purposes found in the Internal Revenue
Code is so broad. Wages include all remuneration or money paid for
employment with 23 listed statutory exceptions to the definition. A
federal
IRS Request for Miscellaneous Determination IRS Form 8940
The IRS has releasedForm 8940,Request for
Miscellaneous Determinationthat tax-exempt organizations will
use to request certain determinationsabout their tax-exempt
status. In addition to foundation status issues,
organizations will use this new formto obtain advance
approval of certain activities and exemption from IRS Form 990
filing requirements. Organizations applying for recognition
of exemption and at the same
Miscellaneous Determinationthat tax-exempt organizations will
use to request certain determinationsabout their tax-exempt
status. In addition to foundation status issues,
organizations will use this new formto obtain advance
approval of certain activities and exemption from IRS Form 990
filing requirements. Organizations applying for recognition
of exemption and at the same
Tax Practitioner Fraud and Incompetence United States Treasury Circular 230
Lately Ive been getting deluged with cases involving blatant
US Treasury Circular 230 violators of regulations governing
practice before the Internal Revenue Service. The perpetrators it
seems come from all walks of life, some are unregulated tax return
preparers while others carry multiple licenses, designations and/or
degrees. The accumulated data however indicates that the
most
US Treasury Circular 230 violators of regulations governing
practice before the Internal Revenue Service. The perpetrators it
seems come from all walks of life, some are unregulated tax return
preparers while others carry multiple licenses, designations and/or
degrees. The accumulated data however indicates that the
most
IRS Statistics of Sole Proprietor Income
Approximately 22.7 million individual income tax returns
reported non-farm sole proprietorship profits of $244.8 billion for
tax year 2009 according to the recently released Statistics of
Income Quarterly Report. Check it out here - Summer 2011
Some other points worth noting in my opinion include: 1. For tax
year 2008, almost 67,000 foreign-controlled domestic
corporations
reported non-farm sole proprietorship profits of $244.8 billion for
tax year 2009 according to the recently released Statistics of
Income Quarterly Report. Check it out here - Summer 2011
Some other points worth noting in my opinion include: 1. For tax
year 2008, almost 67,000 foreign-controlled domestic
corporations
IRS Publication 78 Online Tool for Researching Charitable Organizations
Now is a GREAT TIME OF YEAR TO MAKE A CHARITABLE DONATION if
you are so fortunate. When you make a donation to a charity you may
be able to take a deduction for it on your tax return as long as
you secure the proper documentation substantiating the donation and
its subsequent value. In
you are so fortunate. When you make a donation to a charity you may
be able to take a deduction for it on your tax return as long as
you secure the proper documentation substantiating the donation and
its subsequent value. In
12 essential investing tips for you in 2012
As you form an investing strategy, make sure your personal
finances are in order.
finances are in order.
12 tempting tax tips to save you money for 2012
No new taxes are planned, but you may want to take advantage
of loopholes before they close.
of loopholes before they close.
12 tips to manage credit card debt in 2012
Don't go crazy with credit cards. Rein in your plastic before
your card debt becomes drastic.
your card debt becomes drastic.
12 smart tips to finance college costs in 2012
Finding college financing takes time and research. Use this
guide to get the most help.
guide to get the most help.
10 college degrees that yield high-paying jobs
Math and science degrees lead to rewarding jobs. Try these
majors.
majors.
12 top tips for buying the right car in 2012
Looking to trade in your chariot? This road map will put you
on the path to an affordable car deal.
on the path to an affordable car deal.
Beat low interest rates on your savings account
Interest rates on savings are likely to remain low. These are
your choices for a better return.
your choices for a better return.
Capital gains on sale of money pit
The insurance settlement for a sinkhole and subsequent sale
are treated as the sale of your home.
are treated as the sale of your home.
Video: Cold weather car care
Winter weather is hard on your ride. Don't neglectyour
car's cold weather needs.
car's cold weather needs.
What God has Spoken, Let it be True
God speaks to you! Even if you dont know it! But when it
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
Simple Obedience
The Christmas story is filled with people who listen to God.
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
Monday, December 26, 2011
Humbled and Honoured
This month, Alberta Venture came out with Albertas 50 Most
Influential People of 2011 list and I was truly honoured to be
selected as one of the recipients. In the past, this list has
included prominent Albertans including Premier Ed Stelmach, Ron
Liepert and OSDGs current Executive Director, Ken Chapman. This
year is no different with people such as Stephen Harper, Patrick
Daniel and Elizabeth Cannon. The list is quite diverse with
individuals of every age and from various sectors and industries
all with one commonality; making Alberta a great place to call
home. My life in Alberta has provided me with many opportunities to
benefit this province as well as an industry that I so strongly
believe in. The article went as far as to title me an Oil Sands
Evangelist as I spend my time criss-crossing the continent in an
effort to spread affection for the oil sands. I have not found it
difficult at all to get involved with, and promote, an industry
that benefits so many. I consider my time well spent and a
contribution to my own personal growth. I am very appreciative of
this acknowledgement and Im humbled to be named among the group
that was chosen.
Influential People of 2011 list and I was truly honoured to be
selected as one of the recipients. In the past, this list has
included prominent Albertans including Premier Ed Stelmach, Ron
Liepert and OSDGs current Executive Director, Ken Chapman. This
year is no different with people such as Stephen Harper, Patrick
Daniel and Elizabeth Cannon. The list is quite diverse with
individuals of every age and from various sectors and industries
all with one commonality; making Alberta a great place to call
home. My life in Alberta has provided me with many opportunities to
benefit this province as well as an industry that I so strongly
believe in. The article went as far as to title me an Oil Sands
Evangelist as I spend my time criss-crossing the continent in an
effort to spread affection for the oil sands. I have not found it
difficult at all to get involved with, and promote, an industry
that benefits so many. I consider my time well spent and a
contribution to my own personal growth. I am very appreciative of
this acknowledgement and Im humbled to be named among the group
that was chosen.
Mary - An Ordinary Person used by God
We often rule ourselves out of doing things saying, God wont
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
use me, Im not good enough or gifted enough. In Luke 1:26-38, we
see that Mary did the same thing but allowed her trust in Gods
plans to win through and the most amazing thing happened. God works
through people and situations, we least expect him to.
On The Ground Issues Resolution - Podcast 1
On my first podcast I wanted to give you details on the
processes that are just as important to the success of the oil
sands as new technologies. Im referring to the on-the-ground issues
resolution process and community consultations that earn and
maintain our industrys social licence. As readers of my blog know,
these are topics I come by naturally because consulting with
stakeholders and resolving community issues are the fundamental
reasons behind OSDGs existence. The first podcast of five has been
posted. Please have a listen. If you have any questions or
comments, please direct them to info@oilsandsdevelopers.ca or leave
a comment below. Thanks again for listening.
processes that are just as important to the success of the oil
sands as new technologies. Im referring to the on-the-ground issues
resolution process and community consultations that earn and
maintain our industrys social licence. As readers of my blog know,
these are topics I come by naturally because consulting with
stakeholders and resolving community issues are the fundamental
reasons behind OSDGs existence. The first podcast of five has been
posted. Please have a listen. If you have any questions or
comments, please direct them to info@oilsandsdevelopers.ca or leave
a comment below. Thanks again for listening.
O Come All Ye Faithful
Today Simon looks at the truth behind the popular carol "O
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
Come All Ye Faithful", seeing how its message is echoed in the
words of John chapter 1.
Exciting News for the Oil Sands Developers Group
June 1
<sup>st</sup> will be an exciting day at the Oil Sands Developers
Group this is the day we officially welcome our new executive
director, Ken Chapman. After an extensive search, Ken joins us with
a versatile background in public policy, facilitation and
consultation. Kens extensive experience as a lawyer, a consummate
political analyst and social justice advocate has allowed him to
contribute to building thriving communities across Canada. We are
thrilled that he will be working out of the OSDG office in Fort
McMurray to help build a flourishing oil sands community for the
people who live, work and play in Wood Buffalo. His primary focus
will be facilitating collaboration between OSDG and our key
stakeholders in the region. Im looking forward to getting to know
him while we continue finding solutions to the issues surrounding
oil sands development. Please join me in welcoming Ken!
<sup>st</sup> will be an exciting day at the Oil Sands Developers
Group this is the day we officially welcome our new executive
director, Ken Chapman. After an extensive search, Ken joins us with
a versatile background in public policy, facilitation and
consultation. Kens extensive experience as a lawyer, a consummate
political analyst and social justice advocate has allowed him to
contribute to building thriving communities across Canada. We are
thrilled that he will be working out of the OSDG office in Fort
McMurray to help build a flourishing oil sands community for the
people who live, work and play in Wood Buffalo. His primary focus
will be facilitating collaboration between OSDG and our key
stakeholders in the region. Im looking forward to getting to know
him while we continue finding solutions to the issues surrounding
oil sands development. Please join me in welcoming Ken!
A Breath of Fresh Air
Over the past few years, the oil sands industry dealt with
many campaigns demonizing the industry. Recent months have seen
continued and increased efforts to pressure corporations and
government in the U.S. and other international markets to declare
themselves against oil sands development and to avoid the oil sands
product. It is unfortunate that many users of the oil sands product
are unaware of the amount they rely on this great resource, having
limited awareness of energy issues and what the oil sands are doing
to reduce our environmental footprint. From what I have seen, this
has resulted in embarrassing situations when the users need to
retract their statements after discovering how the oil sands are a
key energy source for their operations and that the oil sands are
not "dirty" after all. As a reader of my blog, you know that Ive
often used this medium to express my frustration with such
campaigns in an attempt to educate readers about the misinformation
they are often fed. Ultimately, I want to create a balanced
conversation on issues surrounding oil sands development. The
latest campaigning going on in Europe is no different from many of
the campaigns we have seen in the past. However, I did discover a
breath of fresh air amongst the propaganda. Outside the European
parliament in Brussels, ENGOs have posted signage discouraging the
development of Canadian oil sands. In connection with their
displays, they are encouraging citizens to write to their appointed
Member of European Parliament (MEP) and call for the European Union
to ban the importation of Canadian oil sands crude. Their
campaigning has been successful and several constituents wrote to
Roger Helmer, MEP for Brussels and East Midlands. His response, the
breath of fresh air I was referring to, is worth writing about. On
his personal blog, similarly titled to mine, Straight Talking, MEP
Roger Helmer posted a thought-provoking response to the anti-oil
sands propaganda and several letters he received from constituents
in a post titled After the Nuclear Scare: The Tar Sands Scare. He
thanked the constituents for their concern but pointed out several
flaws in their argument and told these individuals that this issue
needs to be put into perspective. Quoting from Mr. Helmers letter,
Canada is a civilized, environment-conscious and democratic
country, and I have every confidence that they will manage this oil
sands industry in a responsible way it is not my place to
interfere in their internal affairs. Nor am I prepared, in these
times of serious energy-security risks, to cut the EU off from a
potentially important new energy source. It is not often that we
see such truth in black and white print, and its refreshing to see
others across the world recognize Canadas significant achievements
in the responsible development of this important resource. The
industry believes that it is vital to have conversations about
these issues. Mr. Helmer further points out that, although he
received a handful of letters of complaint about Canadas oil sands,
he would hate to think about how many hed receive should the lights
go out. So, thank you Roger Helmer for your thoughtful response
letter to concerned constituents. I hope it helps shed some light
and helps them reconsider their position and, at the very least,
gets them thinking more objectively about energy use and energy
sources as the world is beginning to discover there are no
impact-free energy sources. The most we can hope for is
environmentally responsible development, whatever that development
is. And the oil sands can, and should, continue to play an
important role in providing a secure energy supply.
many campaigns demonizing the industry. Recent months have seen
continued and increased efforts to pressure corporations and
government in the U.S. and other international markets to declare
themselves against oil sands development and to avoid the oil sands
product. It is unfortunate that many users of the oil sands product
are unaware of the amount they rely on this great resource, having
limited awareness of energy issues and what the oil sands are doing
to reduce our environmental footprint. From what I have seen, this
has resulted in embarrassing situations when the users need to
retract their statements after discovering how the oil sands are a
key energy source for their operations and that the oil sands are
not "dirty" after all. As a reader of my blog, you know that Ive
often used this medium to express my frustration with such
campaigns in an attempt to educate readers about the misinformation
they are often fed. Ultimately, I want to create a balanced
conversation on issues surrounding oil sands development. The
latest campaigning going on in Europe is no different from many of
the campaigns we have seen in the past. However, I did discover a
breath of fresh air amongst the propaganda. Outside the European
parliament in Brussels, ENGOs have posted signage discouraging the
development of Canadian oil sands. In connection with their
displays, they are encouraging citizens to write to their appointed
Member of European Parliament (MEP) and call for the European Union
to ban the importation of Canadian oil sands crude. Their
campaigning has been successful and several constituents wrote to
Roger Helmer, MEP for Brussels and East Midlands. His response, the
breath of fresh air I was referring to, is worth writing about. On
his personal blog, similarly titled to mine, Straight Talking, MEP
Roger Helmer posted a thought-provoking response to the anti-oil
sands propaganda and several letters he received from constituents
in a post titled After the Nuclear Scare: The Tar Sands Scare. He
thanked the constituents for their concern but pointed out several
flaws in their argument and told these individuals that this issue
needs to be put into perspective. Quoting from Mr. Helmers letter,
Canada is a civilized, environment-conscious and democratic
country, and I have every confidence that they will manage this oil
sands industry in a responsible way it is not my place to
interfere in their internal affairs. Nor am I prepared, in these
times of serious energy-security risks, to cut the EU off from a
potentially important new energy source. It is not often that we
see such truth in black and white print, and its refreshing to see
others across the world recognize Canadas significant achievements
in the responsible development of this important resource. The
industry believes that it is vital to have conversations about
these issues. Mr. Helmer further points out that, although he
received a handful of letters of complaint about Canadas oil sands,
he would hate to think about how many hed receive should the lights
go out. So, thank you Roger Helmer for your thoughtful response
letter to concerned constituents. I hope it helps shed some light
and helps them reconsider their position and, at the very least,
gets them thinking more objectively about energy use and energy
sources as the world is beginning to discover there are no
impact-free energy sources. The most we can hope for is
environmentally responsible development, whatever that development
is. And the oil sands can, and should, continue to play an
important role in providing a secure energy supply.
Still Going Strong
I often refer to the results of The Energy Resources
Conservation Boards (ERCB) findings in my presentations and I was
happy to see this year that the results highlighted another solid
year and a bright futurefor our industry. The report, Albertas
Reserves 2010 and Supply/Demand Outlook 2011-2020, showed over
2,300 successful oil wells were drilled in 2010 more than double
from 2009. Furthermore, according to the report, the total amount
of oil sands produced represents an 8 per cent increase since 2009
with 589 million barrels being the 2010 yearly total (i.e., on
average, 1.61 MBbl/d). These are great numbers. This means that our
industry is continuing to deliver economic benefits for the
province and across the country. And, the expectation is that these
numbers will just continue to grow. The ERCB forecasts a total of
1.3 billion barrels per year (i.e., on average, 3.56 MBbl/d) by
2020. The results underline the need for our resource to meet
growing energy demands. Since 1967 when the industry began, Alberta
has produced 7.5 billion barrels of raw crude bitumen from the oil
sands and crude oil production has produced 16 billion barrels. I
know that our industry will continue to play a key role as an
economic driver through the development of this great resource. For
more information on the report and other highlights, please visit
www.ercb.ca.
Conservation Boards (ERCB) findings in my presentations and I was
happy to see this year that the results highlighted another solid
year and a bright futurefor our industry. The report, Albertas
Reserves 2010 and Supply/Demand Outlook 2011-2020, showed over
2,300 successful oil wells were drilled in 2010 more than double
from 2009. Furthermore, according to the report, the total amount
of oil sands produced represents an 8 per cent increase since 2009
with 589 million barrels being the 2010 yearly total (i.e., on
average, 1.61 MBbl/d). These are great numbers. This means that our
industry is continuing to deliver economic benefits for the
province and across the country. And, the expectation is that these
numbers will just continue to grow. The ERCB forecasts a total of
1.3 billion barrels per year (i.e., on average, 3.56 MBbl/d) by
2020. The results underline the need for our resource to meet
growing energy demands. Since 1967 when the industry began, Alberta
has produced 7.5 billion barrels of raw crude bitumen from the oil
sands and crude oil production has produced 16 billion barrels. I
know that our industry will continue to play a key role as an
economic driver through the development of this great resource. For
more information on the report and other highlights, please visit
www.ercb.ca.
sacredtheory on "Absorption Costing"
130,000 is the original net income 110,000 units x $2 =
$220,000 ($2 is the selling price per unit minus variable costs per
unit) Total fixed costs are $90,000 (100,000 + .25, and 100,000 +
.65) -- total fixed costs will remain unchanged since you're still
within the relevant range $220,000 - 90,000 = $130,000
$220,000 ($2 is the selling price per unit minus variable costs per
unit) Total fixed costs are $90,000 (100,000 + .25, and 100,000 +
.65) -- total fixed costs will remain unchanged since you're still
within the relevant range $220,000 - 90,000 = $130,000
New Numbers Backing Positive Economic Impacts
As my readers know, Ive been on the road for the past three
years promoting an industry that I am passionate about because it
benefits so many. A topic I am sure to highlight during my speaking
tour is the positive economic impacts of the oil sands industry. Im
pleased to tell you the Canadian Energy Research Institute (CERI)
released a report on May 16, showing oil sands production ramping
up from the current 1.7 million bpd to 2.1 million bpd by 2015, 4.8
million by 2030 and 4.9 million by 2035. What does this mean? More
money, more jobs, more contribution to the GDP than even the large
contributions previously forecast. All of this is great news. CERIs
report has two main themes: the impact of oil sands development on
Canadian provincial and national economies and the ripple effects
on U.S. state and federal economies. Over the next 25 years, $2.077
trillion will be invested in building and maintaining the oil
sands. That includes $253 billion in initial capital for
construction and $1.8 trillion for operation, maintenance and
sustaining capital. In terms of jobs, the oil sands currently
support 75,000 jobs in Canada with this growing to over 900,000 in
2035. Do the math. Thats 825,000 more jobs (both directly and
indirectly related to oil sands); 825,000 people with work, and
there is nothing that gives an individual more dignity and
self-respect than a job. It may also surprise you that our friends
to the south actually receive the second largest economic impact
from Albertas oil sands after the province itself. In the United
States, new jobs are expected to leap from 21,000 in 2010 to
465,000 by 2035. Over this 25-year period, the total GDP impact as
a result of new oil sands projects is estimated to be $2.1 trillion
for Canada, and $521 billion for the U.S. These are remarkable
numbers. This is why I am proud to be a part of Canadas dynamic oil
sands industry; an industry thats delivering large-scale economic
growth while providing reliable, affordable energy to North
American businesses and families alike. I know that our industry
will continue to play a major role in providing economic stability
through responsible development of Canadas greatest resource. If
you have any comments, please be sure to leave them for me. And, if
you want to see the full CERI report (a long but informative read),
you can do so here.
years promoting an industry that I am passionate about because it
benefits so many. A topic I am sure to highlight during my speaking
tour is the positive economic impacts of the oil sands industry. Im
pleased to tell you the Canadian Energy Research Institute (CERI)
released a report on May 16, showing oil sands production ramping
up from the current 1.7 million bpd to 2.1 million bpd by 2015, 4.8
million by 2030 and 4.9 million by 2035. What does this mean? More
money, more jobs, more contribution to the GDP than even the large
contributions previously forecast. All of this is great news. CERIs
report has two main themes: the impact of oil sands development on
Canadian provincial and national economies and the ripple effects
on U.S. state and federal economies. Over the next 25 years, $2.077
trillion will be invested in building and maintaining the oil
sands. That includes $253 billion in initial capital for
construction and $1.8 trillion for operation, maintenance and
sustaining capital. In terms of jobs, the oil sands currently
support 75,000 jobs in Canada with this growing to over 900,000 in
2035. Do the math. Thats 825,000 more jobs (both directly and
indirectly related to oil sands); 825,000 people with work, and
there is nothing that gives an individual more dignity and
self-respect than a job. It may also surprise you that our friends
to the south actually receive the second largest economic impact
from Albertas oil sands after the province itself. In the United
States, new jobs are expected to leap from 21,000 in 2010 to
465,000 by 2035. Over this 25-year period, the total GDP impact as
a result of new oil sands projects is estimated to be $2.1 trillion
for Canada, and $521 billion for the U.S. These are remarkable
numbers. This is why I am proud to be a part of Canadas dynamic oil
sands industry; an industry thats delivering large-scale economic
growth while providing reliable, affordable energy to North
American businesses and families alike. I know that our industry
will continue to play a major role in providing economic stability
through responsible development of Canadas greatest resource. If
you have any comments, please be sure to leave them for me. And, if
you want to see the full CERI report (a long but informative read),
you can do so here.
Simple Obedience
The Christmas story is filled with people who listen to God.
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
One of these people is Mary, who listens to God, and obeys him
despite the costs. She also does it with a serving heart. We read
about her immediate acceptance of Gods plan in Luke when Angel
Gabriel brings her a very important message. Obeying God seems so
easy in principle but putting obedience into action is often much
harder. So how can we be like Mary in our obedience to God?
Coming To You Live From The Oil Sands
Five years ago (or three years ago for that matter) if you
asked me what I would be doing in 2011, I wouldnt have guessed that
I would be part of the social media-sphere. Well, here we are,
April 2011, and I am about to launch a new part of my blog the
Setting the Record Straight podcasts. I have put together these
podcasts to reach out to those interested in hearing more thoughts
on oil sands operations in Alberta. With the upcoming federal
election, much is at stake; and with important decisions ahead
regarding development of the resource, it is vitally important that
discussions and decisions regarding development of the oil sands be
fact-based. This is my reason for writing on Setting the Record
Straight and now podcasting. Stay tuned over the next weeks as we
post new recordings. I also wanted to thank you for being part of
the discussion. If you have any questions or comments, please
direct them to info@oilsandsdevelopers.ca or leave a comment
below.
asked me what I would be doing in 2011, I wouldnt have guessed that
I would be part of the social media-sphere. Well, here we are,
April 2011, and I am about to launch a new part of my blog the
Setting the Record Straight podcasts. I have put together these
podcasts to reach out to those interested in hearing more thoughts
on oil sands operations in Alberta. With the upcoming federal
election, much is at stake; and with important decisions ahead
regarding development of the resource, it is vitally important that
discussions and decisions regarding development of the oil sands be
fact-based. This is my reason for writing on Setting the Record
Straight and now podcasting. Stay tuned over the next weeks as we
post new recordings. I also wanted to thank you for being part of
the discussion. If you have any questions or comments, please
direct them to info@oilsandsdevelopers.ca or leave a comment
below.
Shifting Course. Reducing Risk.
Progress is often very rapid in the oil sands industry, so I
thought it may be useful to take stock of the significant progress
driving the environmental evolution of the oil sands industry. You
may remember the recent changes required to oil sands tailings
technology and management as a result of ERCB Directive 74. The
Government of Alberta has recently followed up by revamping the oil
sands mining reclamation and liability management programs. This
blog post is my way of congratulating our government here in
Alberta on a job well done. The program changes reclamation
reporting by boosting the number of milestones used to track
reclamation and increasing the transparency of the reporting of
reclamation progress. Beyond this, the liability management was
also increased by requiring an upfront payment when the risk of
mine closure or abandonment is at a minimum (and its resource
potential is at a maximum) followed by full financial security
collected later in the mines life - but before assets are
completely reduced. As has always been the case in Alberta, no
matter if oil sands resources are developed using mining or in-situ
(drillable) technologies, you simply cannot leave a mess behind
reclamation is and always has been a responsibility of the
industry. In Alberta, reclamation is the law. One hundred per cent
of the land developed by oil sands producers will, and must, be
reclaimed. Water monitoring in the oil sands region is another
issue that has engendered recent criticism. The Government of
Alberta has responded by appointing a blue ribbon panel to create a
robust, credible and transparent environmental monitoring,
evaluation and reporting system in the province, beginning with the
oil sands region. As we have discussed, I believe there has already
been a lot of good data collected by the monitoring programs in the
region; nevertheless, I look forward to the enhanced monitoring
program and am certain that it will provide added benefit by
integrating monitoring across all media (i.e. air, land, water and
biodiversity). Finally, one last kudos ... the Government of
Alberta has also recently announced one of the most proactive and
integrated cumulative effects management systems that I know of
anywhere in the world. The Lower Athabasca Regional Plan (LARP)
includes the setting aside of 17 per cent of northeast Alberta (an
area larger than the combined total of Banff and Jasper National
Parks), including the potential claw-back of some oil sands leases.
This is over and above the 20 per cent of northeast Alberta that
has already been set aside via Wood Buffalo National Park (which by
itself is nine times larger that the total area of the surface
minable oil sands). I think this is a step towards balanced
land-use planning and cumulative effects management in Alberta. The
citizens of Alberta have been asking for this, and the government
has responded by providing stable policies and regulatory decisions
that will benefit the province and our industry long into the
future. I know of no area in the world where this much land has
been set aside to offset resource development activities. In the
end this plan could conserve more than two million hectares of
habitat for native species and increase recreation and tourism
opportunities. As well, the LARP puts strict, science based
environmental limits in place for the management of regional scale
cumulative effects on air, land disturbance, water and
biodiversity. Does this mean that all of the issues with respect to
this plan are resolved? Of course not. Industry looks forward to
working with government to define details of compensation for oil
sands leases that may be cancelled, issues impacting investment
certainty and the workings of the environmental management tools
that have been introduced. I am, however, confident that government
and industry will be able to resolve these issues in a manner that
is in the overall best interest of the people of Alberta.
Manufacturing - whether it is oil, clothing, agriculture or any
other product that supports our way of life - has an impact on the
environment. This is why it is crucial to have a deep understanding
of what is taking place, the impacts we are having and how we can
further protect the environment. The oil sands industry understands
that we must all work together to monitor as wholly as possible,
deliver tranparent results and meet the expectations of the public.
Allwhile continuing to provide a secure and reliable energy source
and the economic benefits that have been described as a job
creation engine for Canada. The province and industry are serious
about environmental management in the oil sands, and I don't know
of any other region on earth that now has as all-encompassing and
holistic a suite of environmental management programs as will be in
place in the oil sands region of Alberta. I would like to challenge
anybody reading the blog who does believe there is, to leave a
comment below. I would love to hear about it.
thought it may be useful to take stock of the significant progress
driving the environmental evolution of the oil sands industry. You
may remember the recent changes required to oil sands tailings
technology and management as a result of ERCB Directive 74. The
Government of Alberta has recently followed up by revamping the oil
sands mining reclamation and liability management programs. This
blog post is my way of congratulating our government here in
Alberta on a job well done. The program changes reclamation
reporting by boosting the number of milestones used to track
reclamation and increasing the transparency of the reporting of
reclamation progress. Beyond this, the liability management was
also increased by requiring an upfront payment when the risk of
mine closure or abandonment is at a minimum (and its resource
potential is at a maximum) followed by full financial security
collected later in the mines life - but before assets are
completely reduced. As has always been the case in Alberta, no
matter if oil sands resources are developed using mining or in-situ
(drillable) technologies, you simply cannot leave a mess behind
reclamation is and always has been a responsibility of the
industry. In Alberta, reclamation is the law. One hundred per cent
of the land developed by oil sands producers will, and must, be
reclaimed. Water monitoring in the oil sands region is another
issue that has engendered recent criticism. The Government of
Alberta has responded by appointing a blue ribbon panel to create a
robust, credible and transparent environmental monitoring,
evaluation and reporting system in the province, beginning with the
oil sands region. As we have discussed, I believe there has already
been a lot of good data collected by the monitoring programs in the
region; nevertheless, I look forward to the enhanced monitoring
program and am certain that it will provide added benefit by
integrating monitoring across all media (i.e. air, land, water and
biodiversity). Finally, one last kudos ... the Government of
Alberta has also recently announced one of the most proactive and
integrated cumulative effects management systems that I know of
anywhere in the world. The Lower Athabasca Regional Plan (LARP)
includes the setting aside of 17 per cent of northeast Alberta (an
area larger than the combined total of Banff and Jasper National
Parks), including the potential claw-back of some oil sands leases.
This is over and above the 20 per cent of northeast Alberta that
has already been set aside via Wood Buffalo National Park (which by
itself is nine times larger that the total area of the surface
minable oil sands). I think this is a step towards balanced
land-use planning and cumulative effects management in Alberta. The
citizens of Alberta have been asking for this, and the government
has responded by providing stable policies and regulatory decisions
that will benefit the province and our industry long into the
future. I know of no area in the world where this much land has
been set aside to offset resource development activities. In the
end this plan could conserve more than two million hectares of
habitat for native species and increase recreation and tourism
opportunities. As well, the LARP puts strict, science based
environmental limits in place for the management of regional scale
cumulative effects on air, land disturbance, water and
biodiversity. Does this mean that all of the issues with respect to
this plan are resolved? Of course not. Industry looks forward to
working with government to define details of compensation for oil
sands leases that may be cancelled, issues impacting investment
certainty and the workings of the environmental management tools
that have been introduced. I am, however, confident that government
and industry will be able to resolve these issues in a manner that
is in the overall best interest of the people of Alberta.
Manufacturing - whether it is oil, clothing, agriculture or any
other product that supports our way of life - has an impact on the
environment. This is why it is crucial to have a deep understanding
of what is taking place, the impacts we are having and how we can
further protect the environment. The oil sands industry understands
that we must all work together to monitor as wholly as possible,
deliver tranparent results and meet the expectations of the public.
Allwhile continuing to provide a secure and reliable energy source
and the economic benefits that have been described as a job
creation engine for Canada. The province and industry are serious
about environmental management in the oil sands, and I don't know
of any other region on earth that now has as all-encompassing and
holistic a suite of environmental management programs as will be in
place in the oil sands region of Alberta. I would like to challenge
anybody reading the blog who does believe there is, to leave a
comment below. I would love to hear about it.
On the Ground Issues Resolution - Podcast 2
Ive been on the road for the last week and Im excited to
share my second of five podcasts. Tune in below to hear how the Oil
Sands Developers Group is constantly working to resolve regional
issues including housing, transportation, environment, taxation,
aboriginal consultation and health care. If you have any questions
or comments, please direct them to info@oilsandsdevelopers.ca or
leave a comment below. Thanks again for listening.
share my second of five podcasts. Tune in below to hear how the Oil
Sands Developers Group is constantly working to resolve regional
issues including housing, transportation, environment, taxation,
aboriginal consultation and health care. If you have any questions
or comments, please direct them to info@oilsandsdevelopers.ca or
leave a comment below. Thanks again for listening.
The TEAM Principle - Podcast 3
In the third edition of the Setting the Record Straight
podcast, Im pleased to discuss cooperation among oil sands
organizations. This is an important subject because unlike most
competitive industries, producers in the region are highly aware
that working togetheron non-competitive mattersis an advantage. My
members understand cooperation benefits the environment, the people
of the region and the industry. To hear more about how we are
working together, please in tune in. As always, if you have any
questions or comments, please direct them to
info@oilsandsdevelopers.ca or leave a comment below. Thanks again
for listening.
podcast, Im pleased to discuss cooperation among oil sands
organizations. This is an important subject because unlike most
competitive industries, producers in the region are highly aware
that working togetheron non-competitive mattersis an advantage. My
members understand cooperation benefits the environment, the people
of the region and the industry. To hear more about how we are
working together, please in tune in. As always, if you have any
questions or comments, please direct them to
info@oilsandsdevelopers.ca or leave a comment below. Thanks again
for listening.
praying_for_75 on "Absorption Costing"
Okay, I understand your calculations...but in the first place
why are you calculating the net income using the contribution
approach..I have done some calculations and got the same answer
using the absorption approach..So what do you recommend? Am i
missing out something or calculating in a wrong way? Please advise.
Sales (110,000*5) = 550,000 - COGS (100,000* 0.25 + 110,000*1)=
135,000 Gross margin = 415,000 - Operating expenses ( 110,000*2 +
100,000* 0.65)= 285,000 Net Income= 130,000
why are you calculating the net income using the contribution
approach..I have done some calculations and got the same answer
using the absorption approach..So what do you recommend? Am i
missing out something or calculating in a wrong way? Please advise.
Sales (110,000*5) = 550,000 - COGS (100,000* 0.25 + 110,000*1)=
135,000 Gross margin = 415,000 - Operating expenses ( 110,000*2 +
100,000* 0.65)= 285,000 Net Income= 130,000
praying_for_75 on "Absorption Costing"
Beginning inventory- 30,000 units Production- 120,000 units
Available- 150,000 units Sales- 110,000 units Ending inventory-
40,000 units The following is on a per unit basis: Selling price-
$5.00 Var.Manufacturing costs- 1.00 Var. selling costs- 2.00 Fixed
Manuf. costs ( based on 100,000 units)- 0.25 Fixed selling costs
(based on 100,000 units)- 0.65 Total Fixed costs remain unchanged
within the relevant range of 25,000 units to total capacity of
160,000. Question- If variances are charged to COGS, what is the NI
under absorption costing? Answer- $132,500 Explanation: Step 1-
Increase in inventory- 10,000 units * $0.25 fixed manufacturing
costs per unit=$2500 fixed cost trannsferred to the next period.
Step 2- NI under absorption costing is 130,000+ 2,500= 132,500 What
I don't understand is step 2...What is 130,000 and why is it added
to 2,500? Please help! Thanks
Available- 150,000 units Sales- 110,000 units Ending inventory-
40,000 units The following is on a per unit basis: Selling price-
$5.00 Var.Manufacturing costs- 1.00 Var. selling costs- 2.00 Fixed
Manuf. costs ( based on 100,000 units)- 0.25 Fixed selling costs
(based on 100,000 units)- 0.65 Total Fixed costs remain unchanged
within the relevant range of 25,000 units to total capacity of
160,000. Question- If variances are charged to COGS, what is the NI
under absorption costing? Answer- $132,500 Explanation: Step 1-
Increase in inventory- 10,000 units * $0.25 fixed manufacturing
costs per unit=$2500 fixed cost trannsferred to the next period.
Step 2- NI under absorption costing is 130,000+ 2,500= 132,500 What
I don't understand is step 2...What is 130,000 and why is it added
to 2,500? Please help! Thanks
CPA-Convertible on "Absorption Costing"
Praying - I haven't fully understand the concept yet, but I
think this has to do with mamufactured units (120,000) sale units
(110,000). Therefore, the fixed cost of 0.25 needs to be allocated
to the ending balance instead of sale cost. 10,000 * 0.25 = 2,500
needs to subtracted from the total manufactured cost of $25,000.
So, the total fixed manufactured cost is $22,500. Sale: 550,000
Var. Cost (330,000) fix Manu OH (22,500) fix selling Cost (65,000)
= $132,500 Someone please let me know if my explaination is
correct.
think this has to do with mamufactured units (120,000) sale units
(110,000). Therefore, the fixed cost of 0.25 needs to be allocated
to the ending balance instead of sale cost. 10,000 * 0.25 = 2,500
needs to subtracted from the total manufactured cost of $25,000.
So, the total fixed manufactured cost is $22,500. Sale: 550,000
Var. Cost (330,000) fix Manu OH (22,500) fix selling Cost (65,000)
= $132,500 Someone please let me know if my explaination is
correct.
What God has Spoken, Let it be True
God speaks to you! Even if you dont know it! But when it
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
comes down to us obeying God, some of us can shy away and not
really act upon His will. In Luke, Mary is a perfect example of
obedience to Gods will by the way she takes up the response of may
everything you have said about me come true! She is faced with
abandonment but instead of shying away from what God has said, she
obeys his will without looking at what could go wrong. Are you
willing to sacrifice everything, regardless of the outcome?
Hark The Herald
Ben takes a good look at the song Hark The Herald by Charles
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
Wesley. Each line of the song is packed with meaning and Ben,
taking each line in turn, unpacks for us some of what we are
declaring when we sing the famous Christmas carol.
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