Sunday, March 11 – Wednesday, March 14
The National Association of State Boards of Accountancy will hold its conference in San Antonio, Texas.
Tuesday, March 13
Comment letters due to the Financial Accounting Standards Board on proposed standards on revenue recognition from contracts with customers.
On Wednesday, the Tax Foundation came out with a study on the tax rates different types of businesses face in different states.
Broadly speaking, the foundation found that corporate taxation practices vary widely not only from state to state, but even from one business to another within any one state, and even between businesses in the same line of work in the same state depending on the age of their facilities, with newer locations getting sizable tax breaks and incentives.
Even before it’s become a public company, web giant Facebook’s has caught plenty of government attention, much of it around the company’s taxes and the impact its billions in stock options are likely to have on the tax coffers.
Today Senator Carl Levin, long active on tax issues, took to the Senate floor to point out the many things he dislikes about the company’s expected tax picture, hoping to tap into broader discussions about the need for greater fairness in the tax code.
A couple may have split, but that’s no reason to send more than necessary to Uncle Sam, explains Reuters personal finance editor Lauren Young. In this video she walks through the question: who should take the kids as a tax deduction?
Wyoming multimillionaire Foster Friess, whose super PAC strongly supported Rick Santorum’s candidacy, argues the best kind of taxation would be none at all. Government should step back and let the wealthy “self-tax” and so choose where to spend their money rather than letting the government do so, he says.
Citing philanthropic efforts by Bill Gates and others, Friess praises them not only as the creators of jobs and great products, but also as people who embrace the idea of helping their fellow man.