More delays in the Affordable Care Act will impact employers with 50-99 full-time equivalent employees in 2014. They will now have until 2016 to offer health care coverage to their employees or be subject to the shared-responsibility payments. The penalty… Read More

The post More Delays in the Affordable Care Act! appeared first on Anders CPAs.

The House signed the bill earlier this week and now the Senate has approved for the 45L tax credits to be allowable retroactively for projects placed in service from 1/1/2018 – 12/31/2020.  While this bill does not include fixes to… Read More

The post You May Be Able to Claim the 45L Tax Credit Retroactively Thanks to the New Home Energy Efficiency Act appeared first on Anders CPAs.

As we enter year three of the qualified business income (QBI) era, if you have not yet taken steps to maximize your deduction under this tax law – the time is now. Over the past two years, we have seen… Read More

The post Overcoming Obstacles for Utilizing the QBI Deduction appeared first on Anders CPAs.

The Tax Cuts and Jobs Act is changing the way organizations do business, including health care organizations. To help you prepare for the changes and take advantage of new benefits, the Anders Health Care Group has compiled a chart on the most important provisions for the industry. Complete the form below to download the Tax...

The post Tax Reform: Impact on Health Care Organizations appeared first on Anders CPA.

There is a great opportunity for government contractors to save on sales or use taxes paid for consumables used on government contracts. The U.S. Government is not subject to sales/use tax, however, government contractors typically pay tax on their consumable purchases. Government contractors may be paying tax on many of their overhead purchases needlessly. Sales...

The post Reverse Audits for Government Contractors appeared first on Anders CPA.

The Situation The St. Louis Surge is St. Louis, Missouri’s professional women’s basketball team. In 2019, the team begins its eighth season with five Regional Championships and two National Championships under its belt. Suffice it to say that the Owner and General Manager, Khalia Collier, who purchased the elite team in 2011, commits herself 110% to success.  A...

The post Proactive Plays Make for a Winning Relationship with the St. Louis Surge appeared first on Anders CPA.

AP Photo/Evan Vucci

• More than a dozen people who may work near President Trump and Vice President Pence have tested positive for the coronavirus this week.
• On Friday, Pence's press secretary Katie Miller tested positive for the virus. Eleven Secret Service agents have also tested positive for COVID-19, along with one of President Trump's valets. Ivanka Trump's assistant has also caught the coronavirus, but that person has been working remotely for weeks. 
• Because the virus spreads easily when people are in close contact, the US Centers for Disease Control and Prevention urges anyone who's been exposed to someone who's caught the coronavirus to stay home for 14 days.
• FDA Commissioner Stephen Hahn, who worked with Miller recently, said he'll stay home for the next two weeks, but the President and Vice President remain out and about. 
• Visit Business Insider's homepage for more stories.

The coronavirus arrived at the White House this week.

Vice President Mike Pence's Press Secretary, Katie Miller, tested positive for the virus on Friday. 

See the rest of the story at Business Insider

See Also:

• The US taught the world public health. Now it's getting schooled.
• New research found coronavirus antibodies in over 99% of recovered patients. Here's what science says about immunity.
• The CDC is warning of potential measles outbreaks as kids miss getting vaccines while in lockdown

Getty Images

• The storied investment bank is seeing leadership shakeups under CEO David Solomon and a slew of partner departures. 
• Goldman has been moving away from high-risk businesses like trading and is making pushes into more stable areas like consumer lending, wealth management, and transaction banking. 
• There have been big cultural changes, too. Solomon is looking to create a more transparent workplace, while new tech execs are taking cues from Silicon Valley heavy-hitters. 
• At Business Insider, we are closely tracking the latest developments at Goldman. You can read all of our Goldman coverage on BI Prime.

Storied Wall Street bank Goldman Sachs is going through some massive changes under CEO David Solomon.

It's taken big steps involving transparency and inclusion to change up its culture. It has seen a slew of partner departures — many in the securities division. And it's making big pushes into businesses like wealth management and transaction banking.  

The latest people moves

• Goldman Sachs just hired Kurt Hoffman, an expert in distressed situations and bankruptcy, to join a trading unit known for some of the bank's most lucrative deals
• Goldman Sachs' top tech exec explains how a fresh slew of senior hires are transforming the bank's approach to building products
• Read the full memo Goldman Sachs just sent naming 4 execs to lead its private-equity investments across the merchant-banking division

Culture and talent

• Read the full memo Goldman Sachs just sent to staff announcing its new head of regulatory affairs. The former White House counsel will be tasked with helping clean up the bank's 1MDB drama.
• Goldman Sachs just hired 2 senior recruiting execs focused on luring top talent from other firms —and it's a huge departure from the firm's traditional promote-from-within mentality
• Read the full memo David Solomon just sent to 38,000 Goldman Sachs employees explaining why he's moving his management team out of stuffy offices and into open seating
• Goldman Sachs CEO David Solomon and his management team are ditching their stuffy offices and moving to an open floor plan closer to the people so they can feel the buzz of New York headquarters
• Goldman Sachs just unveiled a new gender pronouns initiative as part of a broader inclusion push at the Wall Street firm
• Read the memo Goldman Sachs just sent to its employees unveiling a new pronouns initiative

Coronavirus response

• Inside a 38,000-person remote work rollout at Goldman Sachs: sleepless nights, assembly lines, and an Amazon-like hub on a Manhattan trading floor
• How a massive New York hospital secured 130,000 N95 masks from China with help from a senior partner at Goldman Sachs, private jets, and a call to Warren Buffett
• Goldman Sachs CEO David Solomon just sent a firm-wide voicemail about the coronavirus crisis. Here's what he told employees.
• Goldman Sachs and Bank of America just updated their WFH policies — again. Here's what they're telling employees about the latest steps aimed at combating the spread of coronavirus.
• Read the full memo Goldman Sachs top brass just sent detailing the firm's coronavirus contingency plans, including separating employees into 'blue' and 'white' teams to alternate working from the office and home

Consumer push, transaction banking, wealth management

• Goldman Sachs just announced its first partnership for transaction banking as it looks to build a new $1 billion business moving money around the world
• Goldman Sachs is sending much less mail to potential Marcus customers. A senior exec lays out the reason why.
• A Goldman Sachs exec explains why the bank isn't sweating concerns over the Apple Card's profitability
• A Wall Street firm crunched the numbers around how much Apple will make from its new credit card with Goldman Sachs
• Here's why Goldman Sachs just did its biggest deal in nearly 20 years as part of a pivot to less wealthy clients
• Goldman Sachs execs are opening up about their plans for Marcus, and they think it can do to banking what iTunes did to the music industry
• Goldman Sachs' partnership with Apple could move it a step closer to being 'a bank branch in your pocket'
• Human resources is the next battleground for Wall Street wealth advisers as Morgan Stanley and Goldman Sachs jockey over new turf
• Goldman Sachs has a novel method for predicting the next economic slump, and it's at the heart of its hot new business

Technology

• JPMorgan and Goldman Sachs are finally beginning to embrace fintech startups. Here's how they test the waters before committing to working with them.
• We talked to the execs behind Bloomberg's new data partnership with Goldman Sachs. Here's why they think it's a sign of Wall Street's future.
• Goldman Sachs is putting its own Marquee app on Amazon's cloud in a pitch to lure more fintech developers
• Goldman Sachs is embracing open-source code and its chief data officer says it's part of a "new world" of software
• Read the memo the new Goldman tech chief sent to the firm's 9,000-plus engineers where he urges them to ditch presentations in favor of Amazon's famous narratives
• A new Goldman Sachs tech exec hired from Amazon is taking a page from the Jeff Bezos playbook by urging engineers to ditch PowerPoint and write memos
• Goldman Sachs' new CTO shares his strategy for attracting outside developers to work more closely with the bank, giving a glimpse into the future of how Wall Street will work
• A Verizon executive is joining Goldman Sachs as chief technology officer as the Wall Street bank reshuffles its ranks
• Marty Chavez is retiring from Goldman Sachs. We chatted with him about the bank's tech transformation, why now is the right time for him to step down, and what he's planning next.
• Goldman Sachs tech guru Marty Chavez is retiring from the bank
• Goldman Sachs' CEO just warned that the bank's big tech bets might not pay off as quickly as people hope
• Goldman Sachs is scrapping a homegrown email app it once touted — and it's a sign the bank is moving away from building tech in house
• Goldman Sachs is exploring plans to create a Netflix for data, and it marks a new frontier for Wall Street
• Goldman Sachs' internal idea factory hatched a plan for the Google of Wall Street, and it's now looking for the next big thing to disrupt the bank
• Goldman Sachs' big bet on the future of Wall Street had a rocky start. Here's the inside story of the bank's struggle to grow its next business and an exclusive look at its plans

Trading

• Bank of America is shaking up its global markets division and poached a Goldman Sachs exec to fill a key new role
• Goldman Sachs' massive quant business now rivals AQR and Two Sigma. We talked to the bank's top quant about asset growth, finding data sources, and why critics of computerized trading are wrong.
• Goldman Sachs' CEO tells us the bank is winning over quant clients. That helped it outpace rivals like JPMorgan last quarter.
• Goldman Sachs is cutting about 5% of sales and trading staff after senior equities leaders delivered a tough town-hall talk
• Goldman Sachs is moving away from a tool championed by its former CFO as it pushes its traders to see clients where they once saw quick wins
• Goldman Sachs is shuffling its top stock trading executives as the business tries to claw back market share from Morgan Stanley and JPMorgan
• Goldman Sachs's bond trading unit is still trying to find its way — and it represents a key challenge for new CEO David Solomon

Alternatives

• Read the full memo Goldman Sachs just sent naming 4 execs to lead its private-equity investments across the merchant-banking division
• Goldman Sachs is making targeted hires for a 'storefront' for alternative investments that's modeled after firms like KKR and Blackstone
• Goldman Sachs' push into private equity is ruffling feathers at Blackstone — and it might be a sign of big client skirmishes to come
• Goldman Sachs execs are jockeying for control of the firm's lucrative private investing units after a plan to merge it — and the stakes couldn't be higher
• Meet the Goldman Sachs execs tasked with building the firms' new Blackstone-esque private-investing unit — and pumping up the bank's flagging stock price
• 'It's good to be Rich': Meet the Goldman Sachs banker who has built a private investing empire that goes head-to-head with Blackstone — and you've probably never heard of him
• Goldman Sachs is considering a shakeup of its alternative investing units as part of a plan to simplify the bank's strategy

Deals

• Goldman Sachs is assembling a team of senior bankers focused on middle-market private equity. Here are the key hires and the playbook they'll use to land new clients.
• Goldman Sachs unloaded some of its WeWork shares before its investment bankers pitched investors on what it once considered a $60 billion-plus IPO
• Goldman Sachs just revealed it sold part of its Uber stake to SoftBank and it helped boost a $4.5 billion business
• A senior Goldman Sachs fintech banker was about to join JPMorgan — but then got lured back —and it's another sign of the fierce battle for M&A talent
• Goldman just promoted a star tech banker close to Tesla and Microsoft to co-head one of its most profitable businesses, as incoming CEO Solomon makes his mark
• Goldman Sachs just announced a shakeup of its leadership — and it signals the rise of bankers over traders
• A tug-of-war between Goldman Sachs and JPMorgan over a top banker highlights Wall Street's $1 trillion battleground

Investor day 2020

• Inside Goldman Sachs' first investor day, where avocado toast and crab apples were served with tech talk, 3-year plans, and a surprising trading mea culpa
• Goldman Sachs just revealed a new wealth brand at its first-ever investor day. It shows how the bank is trying to reshape its strategy — and image.
• Goldman Sachs just unveiled hundreds of slides laying out the future of the company. Here are the 10 crucial slides that show how it plans to transform into a bank for everyone.
• Goldman Sachs is rethinking how it makes private-equity bets with its own money – and one analyst thinks that shift will be a big driver of its stock price

Careers 

• Goldman Sachs is now hiring high-school graduates for roles in Salt Lake City, one of the company's 'high value' locations
• Goldman Sachs has lost at least 54 partners since David Solomon became CEO. We're keeping a running list — and compiling details from insiders about how the exits are being celebrated.
• Read the full memo Goldman Sachs' top brass just sent to staff announcing 2 heads of the bank's private-investing arm are out as it's gearing up to raise billions
• 2 coheads of Goldman Sachs' private-investing business are retiring, in a blow to David Solomon's fundraising plans
• A Goldman Sachs partner who just resigned is leaving behind a job overseeing $2 billion for a London VC with a leading stake in neobank Revolut
• Read the memo announcing the departure of Adam Korn, the Goldman Sachs exec who was 'instrumental in building and championing' innovations like the bank's Marquee platform
• Another Goldman Sachs partner is out. HR chief Dane Holmes is the latest key player to leave the Wall Street bank in a matter of days.
• Goldman Sachs is offering buyouts to encourage partners to leave as CEO David Solomon works to shrink one of the most elite clubs on Wall Street
• Goldman Sachs is making renewable energy a big priority based on its hiring strategy. It's a sign that its ideas incubator is working.
• The David Solomon era at Goldman Sachs kicked off with 43 words Lloyd Blankfein would never say
• Goldman Sachs CEO David Solomon shares his best leadership advice
• Goldman Sachs is shaking up the way it stocks one of the most elite clubs on Wall Street — and it shows how banks are back to making money again
• Goldman Sachs' 1MDB problems are eating into employee morale, and insiders worry the firm will use its legal woes as an excuse to scrimp on bonuses
• Goldman Sachs is about to move dozens of jobs out of pricey New York to Utah as Wall Street turns to cheaper cities

NOW WATCH: Why electric planes haven't taken off yet

See Also:

• Goldman Sachs just hired Kurt Hoffman, an expert in distressed situations and bankruptcy, to join a trading unit known for some of the bank's most lucrative deals
• With retailers like J. Crew and Neiman Marcus floundering, top restructuring bankers are seeing a surge in work. Here's how firms like Lazard, Evercore, and Moelis are staffing up.
• A startup that uses AI to scan Wall Street chats is flagging more people for cursing and complaining — and it could be a sign of bigger compliance issues while people work from home

Lisa Larkin MD & Associates

• Ultrawealthy and sometimes asymptomatic Americans are using concierge doctors to access COVID-19 tests amid a nationwide shortage.
• The doctors, whose monthly fees can range up to $10,000 a month and don't accept insurance, can offer coronavirus antibody test results in as little as two hours; results for the general public can take days.
• Even some concierge doctors question the ethics of offering tests to their wealthy clientele that aren't available to the general public.
• Both concierge doctors and their clients told Business Insider that America's health care system is dysfunctional, and that patients are healthier operating outside it.
• Visit Business Insider's homepage for more stories.

Jamie Gerdsen, the 46-year-old CEO of Cincinnati-based construction company Apollo Home, wanted his 200 employees to know how seriously he was taking the coronavirus pandemic. To prove it, he decided to get tested in April. 

For Gerdsen, the process was simple. All he had to do was call his doctor, set up an appointment time for him and his wife, and get to his doctor's drive-through testing center. At the center, they showed their IDs, answered a few questions, and got their fingers pricked, all without getting out of their car. The results came into Gerdsen's email inbox two hours later. 

See the rest of the story at Business Insider

NOW WATCH: We tested a machine that brews beer at the push of a button

See Also:

• Airbnb has laid off 25% of its staff. Meet CEO Brian Chesky, who cofounded the company in 2008 to help pay his San Francisco apartment's rent and is now worth $4.1 billion.
• Here's how the 1% are getting their booze during the pandemic, from wine concierge services to online premium liquor retailers that sell $10,000 bottles of whiskey
• Elon Musk and Grimes just welcomed their baby boy. Here's how the eccentric CEO makes and spends his $38.2 billion fortune.

SEE ALSO: 

DON'T MISS: 

Reuters

• Elon Musk says Tesla may leave its Palo Alto headquarters and Fremont, California factory. 
• In a tweet Saturday morning, the chief executive continued his outrage against shelter-in-place orders that have forced most non-essential businesses to close. 
• Last week, Musk likened the rules to fascism, and urged leaders to "give people their goddamn freedom back." 
• Visit Business Insider's homepage for more stories.

After a week of decrying coronavirus shelter-in-place orders that have left Tesla's main factory shuttered and unable to produce vehicles, Elon Musk says the company may move its factory out of the state.

"Tesla is filing a lawsuit against Alameda County immediately," the chief executive said on Twitter Saturday morning. "The unelected & ignorant 'Interim Health Officer' of Alameda is acting contrary to the Governor, the President, our Constitutional freedoms & just plain common sense!"

See the rest of the story at Business Insider

NOW WATCH: How waste is dealt with on the world's largest cruise ship

See Also:

• Tesla has secured a $565 million loan for its factory in Shanghai where the company just halted operations
• Elon Musk and Grimes gave their baby an unusual name with multiple hidden meanings, and it may have a hidden connection to the X-Men
• Watch Elon Musk pronounce his baby's name, which he says Grimes mostly picked out

The U.S. General Services Administration has issued an order to accept e-signatures for surety bonds to allow infrastructure projects to move forward.

The Chief Executive Officer of the National Electrical Contractors Association, David Long, issued a statement on being named to the Great American Economic Revival Industry Group for Construction/Labor/Workforce.

The recipients of the 2020 Recognition of Achievement in Safety Excellence and Recognition of Achievement in Zero Injury programs will be posted on the NECA Recognition of Safety Achievement Program website in the near future. There were 159 Recognition of Achievement in Safety Excellence and 90 Recognition of Achievement in Zero Injury winners for 2020. These recipients will each receive plaques commemorating their accomplishment and be recognized during a session at the 10th Annual NSPC in Chicago, IL later this year. Thank you to all the companies that submitted their applications and continue to strive for Safety Excellence and Zero Injuries in the Electrical Industry.

The U.S. Department of Labor announced that the Occupational Safety and Health Administration (OSHA) has released a new video and poster for employers and workers on how to properly wear and remove a respirator. The video and poster – in English and Spanish – demonstrate and describe seven steps every worker should follow when putting on and taking off a respirator.

The past few years, off-seasons in particular, have been met with frustration and anger from MLB players and the Major League Baseball Players Association over the free agent market and the compensation structure/control currently in place. Yes, the Bryce Harper’s… Read More

The post How the Rise of Overseas Contracts Could Impact the MLB appeared first on Anders CPAs.

To fill a void of relevant benchmarking data, Anders and our accounting association, the Leading Edge Alliance (LEA), have launched the third annual National Manufacturing Outlook Survey, and we are requesting participation. Created specifically for privately-held manufacturers, this is the… Read More

The post Anders and LEA Launch National Benchmarking Survey for Manufacturers appeared first on Anders CPAs.

More manufacturers may be exempt from the Uniform Capitalization (UNICAP) rules following tax reform. The UNICAP rules from Code Section 263A generally require that certain direct and indirect costs associated with real or tangible personal property manufactured by a business… Read More

The post Tax Reform for Manufacturers: UNICAP Exemption Changes appeared first on Anders CPAs.

The new revenue recognition standard includes important provisions that manufacturers need to be aware of. Effective 1/1/2019 for private companies with calendar year ends, the new standards will change the way manufacturing companies recognize revenue.
Variable Consideration
Manufacturing companies will… Read More

The post How the New Revenue Recognition Standard Will Impact Manufacturers appeared first on Anders CPAs.

Anders has teamed up with the Leading Edge Alliance (LEA) to jointly release the results from the 2019 LEA National Manufacturing Outlook Survey.
For the third year, more than 350 manufacturing executives participated in the survey from a variety of… Read More

The post National Manufacturing Outlook Survey Offers Look Ahead into 2019 appeared first on Anders CPAs.

Manufacturing companies that sell equipment to the federal government or government contractors could be eligible for a tremendous tax benefit. The opportunity can help reduce sales/use taxes paid for consumables purchased in support of such government contracts.
The federal government… Read More

The post How Manufacturers Can Save on Sales/Use Tax for Government Contracts appeared first on Anders CPAs.

Our manufacturing client had utilized the Research & Experimentation (R&D) tax credit in the past, but our team questioned if they were getting the maximum benefit from their current method of capturing research wages and related costs. By completing a… Read More

The post Saved Manufacturer Over $350,000 Through R&D Study appeared first on Anders CPAs.

Activision Blizzard had a solid Q1, so much so that the company has raised its forecasts for the full year as a result. ...

The Tax Cuts and Jobs Act is changing the way organizations do business, including not-for-profit organizations. To help you prepare for the changes and take advantage of new benefits, the Anders Not-for-Profit Group has compiled a chart on the most… Read More

The post Tax Reform: Impact on Not-for-Profits appeared first on Anders CPAs.

No matter the size of the organization, if you’re serving on the board you want to feel confident that the organization has the right governance policies and practices in place. Those pesky Form 990 questions actually offer a fantastic checklist… Read More

The post Not-for-Profit Board Governance Best Practices to Implement appeared first on Anders CPAs.

The Tax Cuts and Jobs Act (TCJA) significantly changed the tax benefits of donating to your favorite charity starting in 2018. Now that we’ve seen a full year with the new provisions, not-for-profit organizations are taking a look at the… Read More

The post Charitable Giving is Down Following Tax Reform: How Not-for-Profits Should React appeared first on Anders CPAs.

Switch hardware and software continues to deliver the goods for Nintendo, which reported an increase in both sales and profits during the fiscal year ended March 31, 2020. ...

Vivian Le is on a mission that requires equal parts science, philosophy, and daring, in search of something that’s been hotly contested for decades: the world's largest ball of twine.

Goodness Gracious Great Balls of Twine

There are many walls in Belfast which physically separate Protestant neighborhoods from Catholic ones. Some are fences that you can see through, while others are made of bricks and steel. Many have clearly been reinforced over time: a cinderblock wall topped with corrugated iron, then topped with razor wire, stretching up towards the sky. Many of the walls in Northern Ireland went up in the 1970s and ‘80s at the height of what’s become known as “The Troubles.” Decades later, almost all of the walls remain standing. They cut across communities like monuments to the conflict, etched into the physical landscape. Taking them down isn’t going to be easy.

Peace Lines

Donald Trump took office 977 days ago, and it has been exhausting. Independent of where you are politically, I think we can all agree that the news cycle coming out of Washington DC has been very intense for anyone who has been paying attention at all. One of the reasons for the fervor is Trump’s role as a very norm breaking president. If you like him, that’s why you like him, if you hate him, that’s why you hate him. But my reaction to all this, was that I realized I didn’t really know what all the norms and rules are, so I wanted to create for myself a Constitutional Law class and the syllabus would be determined by Trump’s tweets. This is where my friend, neighbor and brains behind this operation, Elizabeth Joh, comes in. She is a professor at the UC  Davis school of law and she teaches Con Law. And since June of 2017, she has been kind enough to hang out with me and teach me lessons about the US Constitution, that I then record and release as the podcast What Trump Can Teach us About Con Law. We call it Trump Con Law for short.

After a long hiatus, we’re back with monthly episodes, so I wanted to reintroduce it to the 99pi audience because you may not know about it and because people often comment that the nature of the calm historically grounded, educational discussion is a soothing salve amidst the chaotic and unnerving political news of the day.

We’re presenting two classic episodes on Impeachment and Prosecuting a President.

Subscribe to What Trump Can Teach Us About Con Law on Apple Podcasts and RadioPublic

There are symbols all around us that we take for granted, like the lightning strike icon, which indicates that something is high voltage. Or a little campfire to indicate that something is flammable. Those icons are pretty obvious, but there are others that aren't so straightforward. Like, why do a triangle and a stick in a circle indicate "peace"? Where does the smiley face actually come from? Or the power symbol? We sent out the 99PI team to dig into the backstory behind some of those images you see every day.

Ubiquitous Icons: Peace, Power, and Happiness

The weather can be a simple word or loaded with meaning depending on the context -- a humdrum subject of everyday small talk or a stark climactic reality full of existential associations with serious disasters. In his book The Weather Machine, author Andrew Blum discusses these extremes and much in between, taking readers back in time to early weather-predicting aspirations and forward with speculation about the future of forecasting, including potentially dark clouds on the horizon.

The Weather Machine

99% Invisible producer Katie Mingle had already been working on a series about unhoused people in the Bay Area for over a year when the current pandemic began to unfold. Suddenly, this vulnerable demographic was cast into the spotlight due to the virulent spread of COVID-19. It is clear from the data that this virus is hitting black and poor communities the hardest. COVID-19 has made American society’s racial and wealth inequities even more obvious. The disease is most dangerous to older and immunocompromised people, two groups to which those experiencing homelessness disproportionately belong.

Plus, hotels have long been used as crucial infrastructure during disasters. Now they’re being used to help fight the pandemic.

Unsheltered in Place

The Anders CARES Act Team, made up of Anders advisors across different departments of the firm, has teamed up with KSDK 5 on Your Side to answer questions from viewers about CARES Act benefits. From stimulus check updates to SBA loan eligibility, Anders will be answering questions individuals and businesses need to know. To submit...

The post Anders CARES Act Team Answers Viewer Questions on KSDK appeared first on Anders CPA.

Take Action: Tell the Senate to Vote on NECA-Supported Cadillac Tax Repeal!

Special thanks to Orange County Chapter Executive Tom Geller, Puget Sound Chapter’s Rick Rothermel of Pacific Coast Electrical Contractors, Chicago and Cook County Chapter’s Eric Nixon of Maron Electric, and Northern California Chapter’s Greg Long of Long Electric for renewing their PLC memberships!

Congratulations to the Wisconsin Chapter for reaching its 2019 NECAPAC goal!

Personal Contributions = 773
Corporate Contributions = 961

NECAPAC Fund to 11-22-19 = $778,924
ADMIN Fund to 11-22-19 = $228,230

Total Contributions to Date = 1,734
Total Dollars to Date = $1,007,154 

Special thanks to West Virginia-Ohio Valley Chapter’s Duane Shurow of Progressive Electric for renewing his PLC membership!

Personal Contributions = 773
Corporate Contributions = 962

NECAPAC Fund to 11-29-19 = $783,984
ADMIN Fund to 11-29-19 = $228,230

Total Contributions to Date = 1,735
Total Dollars to Date = $1,012,214 

Special thanks to Quad Cities Chapter’s Dan Palmer of Tri City Electric for renewing his PLC membership!

Congratulations to NECA’s Northern Illinois Chapter, Twin Ports-Arrowhead Chapter, Eastern Illinois Chapter, South Texas Chapter, and Kansas City Chapter for reaching their 2019 NECAPAC goals!

Personal Contributions = 795
Corporate Contributions = 994

NECAPAC Fund to 12-6-19 = $800,639
ADMIN Fund to 12-6-19 = $231,430

Total Contributions to Date = 1,789
Total Dollars to Date = $1,032,069 

This week in government affairs: NECA opposes bill to raise top tax rate for pass-throughs, NECA member testifies before the house small business committee and NECA Wins in NDAA.

Congratulations to NECA’s Kansas Chapter, Northeastern Line Chapter, and Southern Colorado Chapter for reaching their 2019 NECAPAC goals!

Personal Contributions = 812
Corporate Contributions = 1045

NECAPAC Fund to 12-13-19 = $813,269
ADMIN Fund to 12-13-19 = $236,615

Total Contributions to Date = 1857
Total Dollars to Date = $1,049,884

Congratulations to NECA’s North Central Ohio Chapter, Greater Cleveland Chapter, Central Ohio Chapter, Oregon-Pacific-Cascade Chapter, Northern Indiana Chapter, Minneapolis Chapter, Orange County Chapter, Chicago and Cook County Chapter, San Diego Chapter, Northern California Chapter, and San Francisco Chapter for reaching their 2019 NECAPAC goals!

Personal Contributions = 863
Corporate Contributions = 1052

NECAPAC Fund to 12-20-19 = $833,269
ADMIN Fund to 12-20-19 = $240,275

Total Contributions to Date = 1915
Total Dollars to Date = $1,073,544 

1. NECA Wins in Year-End Funding Bills

On December 17, 2019, Congress passed two funding bills, H.R. 1158, FY2020 Consolidated National Security Appropriations Package and H.R. 1865, FY2020 Consolidated Domestic and International Assistance Package, both resulting in big wins for NECA contractors.

NECA’s Look Ahead: In addition to ensuring the full operation of the federal government for the remainder of Fiscal Year 2020, several of NECA’s top legislative priorities were included:

• Full repeal of the Affordable Care Act’s (ACA’s) 40 percent “Cadillac Tax”

• Allowing 529 savings accounts to be used for costs associated with Department of Labor (DOL) registered apprenticeship programs

• Seven-year reauthorization of the Terrorism Risk Insurance Program

• Extension of the National Flood Insurance Program

• Full repeal of health insurance tax (HIT) and the medical device excise tax

• Seven-year authorization of the U.S. Export-Import Bank

• An extension of 179D energy efficiency tax deduction retrospectively from 2017 and prospectively through 2020

• $1 billion for Better Utilizing Investments to Leverage Development (BUILD) grants

Summaries of the package can be found below:

Full Package Summary – H.R. 1158

Full Package Summary – H.R. 1865

Division Q – Summary (Revenue Provision Amendment)

2. USMCA Passes the House

On December 19, 2019, the House passed, in a 385 to 41 vote, the NECA-supported United States-Mexico-Canada Agreement (USMCA), H.R. 5430, to replace the North American Free Trade Agreement (NAFTA).

NECA’s Look Ahead: Now that the USMCA has passed the House, it will move to the Senate. Under the Trade Promotion Authority (TPA), the bill procedurally spends up to 15 legislative session days in the Senate Finance Committee. Then, there are up to 15 session days for the Senate to vote on the floor. With Impeachment Articles passed from the House taking precedent, USMCA is unlikely to see a Senate vote any time before late February.

3. Impeachment Update

On December 18, 2019, the House of Representatives took up impeachment procedure and  passed H. Res. 755 – “Impeaching Donald John Trump, President of the United States, for high crimes and misdemeanors” by a vote of  230 – 197, 1 for Article I and by a vote of 229 – 197, 1 for Article II.

NECA’s Look Ahead: It remains unclear when the two articles of impeachment will reach the Senate. When they do arrive to the Senate, it is expected that the Senate will begin the trail immediately.  

Congratulations to Rick Osbakken for being our first PLC renewal of 2020! 

Personal Contributions = 5
Corporate Contributions = 3

NECAPAC Fund to 1-7-20 = $5,070
ADMIN Fund to 1-7-20 = $1,600

Total Contributions to Date = 8
Total Dollars to Date = $6,670

Congratulations to Ike Poe of New River Electrical Corp. for renewing his 2020 PLC membership!

Personal Contributions = 31
Corporate Contributions = 1

NECAPAC Fund to 1-17-20 = $18,380
ADMIN Fund to 1-17-20 = $1,000

Total Contributions to Date = 32
Total Dollars to Date = $19,380

Congratulations to Nicolaus Feldmann of Eldor Contracting Corp. for renewing his 2020 PLC membership!

Personal Contributions = 34
Corporate Contributions = 2 

NECAPAC Fund to 1-24-20 = $24,100
ADMIN Fund to 1-24-20 = $6,000

Total Contributions to Date = 36
Total Dollars to Date = $30,100

Congratulations to William Darnstadt of Lyons Electric Company for renewing his 2020 PLC membership! 

Personal Contributions = 52
Corporate Contributions = 28

NECAPAC Fund to 1-31-20 = $31,020
ADMIN Fund to 1-31-20 = $11,000

Total Contributions to Date = 80
Total Dollars to Date = $42,020 

Personal Contributions = 52
Corporate Contributions = 175

NECAPAC Fund to 2-7-20 = $31,080
ADMIN Fund to 2-7-20 = $13,600

Total Contributions to Date = 227
Total Dollars to Date = $44,680

Congratulations to Blair Mahan of Benson Electric Company and District 7 Vice President Greg Rick of Rick Electric for renewing their 2020 PLC memberships!

Personal Contributions = 55
Corporate Contributions = 177

NECAPAC Fund to 2-14-20 = $42,140
ADMIN Fund to 2-14-20 = $13,950 

Total Contributions to Date = 232
Total Dollars to Date = $56,090 

Special thanks to Gloria Ashford of Ashford Electric & Construction, LeeAnn Cochran of Cochran Inc., Drew Mackey of Evergreen Power Systems, Marvin Nelson of Nelson Electric, Greg Stewart of The Superior Group, and Rick Rothermel of Pacific Coast Electrical Contractors for renewing their 2020 PLC memberships!

Congratulations to NECA’s Puget Sound Chapter for being the first chapter to reach its goal for 2020!

Personal Contributions = 64
Corporate Contributions = 232 

NECAPAC Fund to 2-21-20 = $72,446
ADMIN Fund to 2-21-20 = $24,450

Total Contributions to Date = 296
Total Dollars to Date = $96,896