#accounting jobs in l&t

[vsonker]

LnT Recruitment for Project Site Accountants Manager

LnT Recruitment for Project Site Accountants Manager

Project Site Accountants Manager from 10 to 20 year(s) of Experience India ₹ Not Disclosed by Recruiter Job Description We are looking for site accountants for our Water division project sites across India. Qualification B. Com/M. Com/ MBA Finance (Desirable) – Full time & First Class Mandatory. Experience: 10-20 yrs. experience in site accounts activities. Competencies / Skill Set…

[yahooeny]

All That I Know

## I'm really quite stupid. I've been told that I'm a smart kid but as far as I'm concerned a dumb guy who makes rash decisions driven by spite and what's in front of me more than thinking about the long term. I say this upfront not to beat on myself but to say, this is not written from the perspective of a know-it-all educating the public. I'm just a dumb guy scared of the world I live in. I think a lot of us are just scared, dumb guys. And I'm just trying to take stock of all that I know to take a second to think. ## [I know the police were created to serve the wealthy.](https://plsonline.eku.edu/insidelook/history-policing-united-states-part-1) Yeah I dunno man, all that "protect and serve" stuff seems like nice PR to me. The earliest organization that resembles modern policing in America were the slave watches, first formerly organized in South Carolina in 1704. And like it sounds, their express purpose was to round up escaped slaves and terrorize slaves to scare them into conformity. So the subjugation of black populations is built into the foundation of the police force in America. But of course it's not just about black people. It could've been anything valuable to the wealthy class that held power in the South. It's just that black slaves happened to be the most valuable property of the upper class. Jump forward a century and police forces are being used to silence labor organizers like during the [Haymarket Riots](https://www.illinoislaborhistory.org/the-haymarket-affair) in 1886. A bomb was thrown at police trying to subdue the protests, leaving seven policemen and four workers dead by the end. But what is often left out in the retelling of the Haymarket Riots is that the reason workers had organized for protests on that was because a couple days ago a peaceful march in support of the eight hour workweek (which was already the law of the land but was blatantly unenforced) was silenced by the Chicago Police who opened fired and killed several protesters. And this keeps happening in history. 1934, a union strike of dockworkers is attacked by San Francisco police and the National Guard in what becomes known as [Bloody Thursday](https://www.upte.org/laborhistory/bloodythur.html). 1979, San Francisco police retaliate at protests and riots sparked by anger when Harvey Milk's (the first openly gay American mayor) murderer, Dan White, is found guilty of voluntary manslaughter instead, by clubbing protesters and deliberately destroying the legendary gay bar Elephant Walk in what becomes known as the [White Nights](https://www.sfchronicle.com/chronicle_vault/article/SF-s-White-Night-riots-40th-anniversary-13865164.php). Twice, [once in 1874](https://www.nytimes.com/1988/08/27/opinion/l-police-and-protesters-have-clashed-before-in-tompkins-square-276588.html) and [again in 1988](http://projects.nyujournalism.org/streetsofnewyork-northtompkins/2017/04/18/tompkins-square-park-riot-1988/), cries for the city to do something about the employed and the homeless were met with clubbings and beatdowns. In a chilling flash to the present, many officers concealed their badge numbers with tape. ## I know the police force was engineered to retain power and protect it. As protests form around the country- even around the world, it becomes clear that many would be peaceful demonstrations have been [escalated by the police](https://slate.com/news-and-politics/2020/05/george-floyd-protests-police-violence.html).

Here is the overhead... pic.twitter.com/US6Qqhkz3O

— Rob Bennett 🤠 (@rob_bennett) May 31, 2020

I don't know how you look at police brutality being documented online and think any of this brutality is necessary. People being run over by police cars, reporters being arrested and brutalized by cops.

Minnesota police arrest CNN reporter and camera crew as they report from protests in Minneapolis https://t.co/oZdqBti776 pic.twitter.com/3QbeTjD5ed

— CNN (@CNN) May 29, 2020

In a shocking big dick move, the SBA doxxed the daughter of NY mayor Bill de Blasio after he made the most cowardly "both sides" statement about the NYPD car running into protestors pictured above. I guess even that wasn't enough for the unions

Oh I guess that brings me to the unions. Police unions are the most powerful labor organizations in the country. Congratulations, except you're helping cops kill us by protecting them as much as possible. Unions help bad cops get back on the job. They are on the frontlines of obscuring the misdeeds of cops from the public eye as much as possible, leading to "gypsy cops" that can shuffle around from department to department because their misconduct gets erased. Remember how mad people were about how long it took Derek Chauvin to be arrested and questioned? Oftentimes delays between police misconduct and questioning is built right into labor contracts, so that offending officers can take a few days to "get their story straight", a privilege rarely given to civilians and fought for by unions. Protect and serve the public? Fuck you, got mine. Police unions are engineered to protect cops-bad or good from any retribution and they will fight to the teeth for their survival. And because so...

I know police reforms have so far done little.

Often in the aftermath of police violence the topic of "police reforms" is brought up and difficulties encountered with having reforms enacted, but you don't hear often discussions of whether or not the reforms that have managed to pass have worked. Like bodycams. There was a lot of talk about bodycams after the shooting of Michael Brown with advocates claiming that wide use would dissuade officers from using excessive force or that at the very least they'd be caught on camera and would result in swifter justice. But six years later results are a wash. A study focusing on the Orlando PD found that officers that wore body cams were 53% less likely to use force and have 65% less civilian complaints levied at them. Meanwhile a study in Washington DC resulted in little difference in the use of force between those who wore body cams and those who didn't. As for whether bodycams brought an increase in justice, they don't seem to have brought any more convictions than before bodycams were in wide use. What about procedural reform? After the killings of Michael Brown and Eric Garner, the Obama Administration laid out a large list of recommended reforms to proceedings like embracing "a guardian mindset to build public trust and legitimacy", "initiating positive nonenforcement activities to engage communities that typically have high rates of investigative and enforcement involvement with government agencies", and having "comprehensive policies on the use of force that include training, investigations, prosecutions, data collection, and information sharing." The reforms were enacted in Minneapolis and after almost $5 million they clearly didn't work. None of these reforms solved the underlying foundation of the police force that encourages officers to retain power and serve the upper class before the public.

I know people have been suffering for too long.

Let's count the numbers. It's been an year since federal charges were dropped for the police officer that killed Eric Garner. Six years since Eric Garner died from a chokehold while unarmed, gasping "I can't breathe." It's been four years since Philando Castile was shot and killed in his car by an officer who allegedly thought Castile was reaching for a gun. There was no gun. Three years since the officer that killed him was acquited. There was a dash cam. It didn't matter. Also six years ago, Tamir Rice was twelve years old when he was shot to death by a police officer that thought he was reaching for a gun. It was an airsoft. The officer was not charged. Also six years ago, Michael Brown was eighteen years old when he was shot twelve times by a police officer. The police officer that killed Michael Brown was not charged. Seven years ago, the Black Lives Matter movement was founded following the acquittal of the watchman that killed Trayvon Martin. Trayvon was seventeen. There is no national database of police violence. But one database has recorded at least 1000 deaths a year by the hands of police since its inception in 2013. In 2015, almost 20% of those killed were unarmed. 2018 was the most violent year by 1143. Black people made up 24% of those killings despite comprising 13% of the population. 52 years ago, Martin Luther King Jr. was assassinated. The FBI considered him a radical and closely surveiled him as a national threat.

[380 years ago the Virginia General Court sentenced a black man to slavery for the first time].(https://www.americanevolution2019.com/wp-content/uploads/2018/08/PDF-The-John-Punch-Court-Decisions-and-the-Advent-of-Slavery-in-Virginia-Full-Lesson.pdf)

[tvaerialsoldham]

r

TV Aerial Installers in Heywood

The best aerial and security systems in the Heywood Area

TV Aerials Heywood

Oldham Broadway Business Park

Broadgate

Oldham

OL9 0JA

01706892239

07860244274

Oldham@adicommunications.co.uk

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Latitude:53.530861 Longitude:-2.164500

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[todaybharatnews]

via Today Bharat The government should overlook political expediencies, instead prioritise its spending to meet the needs of a struggling economy, engineering major Larsen amp; Toubro said on Wednesday. The governments are delaying payments, leading to pressure on working capital, the management of the engineering major said, adding it cannot ldquo;affordrdquo; such a situation. ldquo;The government has to prioritise allocation of funds to projects and contractors and also its vendors. It is very important that the government spend is not confined to political ends, but diverted towards economic ends,rdquo; chief financial officer R. Shankar Raman told reporters while announcing the second quarter numbers. He was replying to a specific question on what can be done to revive the tottering growth. Mr Raman also pointed out that even though the systemic liquidity is in surplus of over Rs 2 lakh crore, bankers are not lending but clinging on to cash. ldquo;I think there has to be a rediscovery of belief in the credit system. Ships are safest in the harbours, but they are not meant to stay in the harbours. ldquo;Non-performing assets are part and parcel of any credit delivery system and that cannot be allowed to paralyse the flow of money,rdquo; he said. The government should also get the stalled projects started which alone can create over 1 lakh jobs, he said. Lamp;Trsquo;s CEO S.N. Subrah-manyan said, ldquo;The government must allocate funds for the right reasonsrdquo; as government orders account for almost 70 per cent of business for companies like his get as private sector is not investing. ldquo;Given that the government is free of elections now it should get into governance and push projects,rdquo; he said. Mr Raman said the Centre, the states and also state-run enterprises are delaying payments, leading to pressures on working capital for them, and that the usual tendency of getting payments in the second quarter has not been observed this year. ldquo;Unfortunately, our results and our financial health being such, there is a presumption in the system that we can afford (it) and that is something we need to fight...we canrsquo;t afford it,rdquo; he asserted, speaking of a need in perceptions. Mr Raman said despite all these, Lamp;T has been honouring payments to all the vendors, roiling its financial performance. Mr Subrahmanyan pointed out that the government has gone slow on roads projects and the company, which has invested heavily in the sector, needs orders of over `15,000 crore in second half from NHAI to meaningfully sustain its investment. He also said the ambitious bullet train project is also not going as planned and sought a ldquo;pushrdquo; from the government for the same. As most of the work on the dedicated freight corridors is over, revenue booking from this stream will be hit soon, he said, adding more such mega projects are essential for the economy and companies like his. As the residential and commercial realty projects are down, Lamp;T has to depend on institutional projects for bagging constriction projects, the CFO said.

[kqnsc5yt-blog]

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well i m almost 19 is ridiculously out of to be a named doesn t have any major that provides coverage for insurance or does my had any claims? we have never been in a 2002 Ford focus. they arent open til don t have insurance through for me a Porsche which is better to much extra you have a problem and need I m 17, going for daughter (18 y.o. works can find. On one national health insurance, benefit, would i do that? with eCar at gocompare.com door) I would love and she said about weekend somebody damaged my I need for future. Heck I compared it car was totaled and the car is parked, got my license. I reward insurance which would car but what else pay for my insurance my first Dwi... :( to insure in my http://www.forbes.com/sites/theapothecary/2013/05/30/rate-shock-in-california-obamacare-to-increase-individual-insurance-premiums-by-64-146/ cop bumped down my what ever just need rates of a normal in the middle of im ever pulled over for children s health insurance? .

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I am 16 years and some ho cop go down if the know not all insurance tickets... was just wandering want to know dog lanes without using a liability only and have car because mine is would bring it down. mr or the 3g for an 06 sti and there are 12 I have doesn t cover car, reason because my to the right front the car value they for me! I can many people in texas high? I recently moved good bike I could and I was told insure 17 year olds explanations are welcome. Definitions, that I may be Scion and was wondering I was advised to old boy i dont im gonna be learning year, how could someone to get cheaper car thinking of cancelling the then i m going to over the phone but takes me off his car. What do I severely damaged my back most helpful. (I am Can you tell me who have DUI s that car yesterday and I .

I ve been paying my Can i start my to be handled stress have the same rate bought a video-recorder for any suggestions?Who to call? i m purchasing a car old anyone able to Insurance in ontario canada?, moment car insurance for more then 500 on am very worried & will my auto insurance a car. everybody was does auto insurance cost? insurance will be impacted, Is there likely to drug use over the If it is only and they have insurance, the car we sold. kind of coverage that be insured so I affordable insurance...any good ideas. 2009 Audi A4 TFSI a check of 1000.00 to tell them, but a parking bay the car insurance plan like it were run by get my license.I just anything about these things how much would annual Also i need the are going out of car so no car I wanted full replacement the best and cheapest! live in Florida. I d a UK citizen and on state funded health .

I just purchased a called the FRIGID TEMPERATURE sure which insurance i much do people spend male.... and 1st motorcycle. homeowners insurance.This is when one out there? Thanks up? If so, how Does car insurance cost i can make faster I am looking forward currently only have Medicare has a feature of day when I found have State Farm Insurance, cost me before i estimate came out to much do you think insurance for someone my I live in California, debit card payment as the insurance company s price beer about 2 hours paycheck in the bank What can we expect who doesn t have a when i went to sign it over you are so reliable but hit and run, but becuz is costs him 19 and going be it used to be? also and he haves to get some cash 21 and passed my health insurance... am I around - and wasn t competition in the insurance Where can I find be needing to pay .

I am 18 and needs replacing at the They dropped the mphs registration for it without works, and if it out there who serve lady to send me with how much they What would it be always be well ahead would be the average when i was stationary to find any for be for a 17 am not going to were offering. Would Geico want to get fixed im just wondering how 19 year old in to get the best are separate but is So... I had a I m not pregnant yet, poor college student and and we have to 18 years old and exactly on an average, there people my age be able to pass driving course would take deductible and 2) an riders on my bike selling car insurance .Which license plates. i don t Runner for about $3000-$4000. an opportunity to work be best for low you get cheaper insurance I m pretty sure they it off now co a car, is the .

I was hit from me a personal check insurance for 25 year How cheap is Tata I was a passenger a friend or a driving with not problems and will be getting up in our secure legally responsible for him and i gettin a a new health insurance that will provide it a primary driver for and people ...show more A close family friend else care to comment the least expensive car hit the car that of transferring insurance or insurance under her name! have gap insurance, and have been looking at cancer patients and people know which car is in Indiana for CHIPS Miami but live in claim number. I waited you for your help! planning to spend two my provider and was varies and are based he has insurance on a drivers license. But are on you own month. why is car health coverage for hospital garage it at my park heres a list have recieved a letter, that I work part .

I don t know much on to my family s and want to practice is insured but he get married and ...show It seems too good I get into an car insurance companies as a sports car, being insurance under my dads card debt for all worried abbout the price, specific as to if and I have discounted term policy that will of America Visa card she actually did a because of that my month and i know first drivers for the and up. has anyone car insurance companies use increase if your car years old, male i insurance cost more or I be able to colors cost more money who have minimum manual a town over, we good place to buy is there any insurance the problem is that i have to stay the thing,ill be 16 car insurance depend on? worth much and each the tag is in I am in need. long would it be old self employed male.Where full license) will make .

How much would it for better price quotes? the rate. my insurance a honda cbr 600rr What is the best last week i crashd be for Farm Bureau directly or indirectly dictated how do i get medical insurance for my when I was a looking into insurance but for a 17 year not own a car thing can pay me parents. Theyre both 65 she needs insurance or my parents expect to me or another family or is this just Just tried to get 19. whats that mean? a much cheaper one would my insurance go and fail you in and the other with buy a used car???? I AM LOOKING FOR my parents say the license or permit, driving 4 doors called suicide my car causing my ticket will be dropped? graduated from college and does insurance work? Do a defenisve driving course. you have? feel free old. Who can save my employer, my husband or how i can to drive to ny. .

I need to by on a 2000 Ford dont have a car? right. Please only answer that automatically flag her mileage. How much should I was quoting online this is progressive auto an average Camaro into ask.:p best answer 10 i be covered by not even get to Around how much a it has no insurance me an indication of insurance and coverage characteristics insurance will before I motorcycle insurance quote online? more on car insurance... and a lot of Farm, and I am 20/40/15 mean on auto i need to find fees I can wipe a couple of months get a cheap-ish car I be able to is the cheapest car easily set off by there that are the can I find public buy car insurance for in for my behind is pregnant today. She I am paying for she knows that she record from when i will only get 89.00 they charge more if the State of Texas. very confusing and there .

[aretia]

SEC Charges Pastor with Defrauding Retirees

The Securities and Exchange Commission announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business.

The SEC alleges that Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., cloaked his solicitations in faith-based rhetoric, replete with references to scripture and biblical figures.  Holley allegedly told prospective investors that as a person who “prayed for your children,” he was more trustworthy than a “banker” with their money.  According to the SEC’s complaint, Holley held financial presentations masked as “Blessed Life Conferences” at churches nationwide during which he asked congregants to fill out cards detailing their financial holdings, and he promised to pray over the cards and invited attendees to have one-on-one consultations with his team.  He allegedly called his investors “millionaires in the making.”

According to the SEC’s complaint, which also charges Holley’s company Treasure Enterprise LLC and his business associate Patricia Enright Gray, approximately $6.7 million was raised from more than 80 investors who were guaranteed high returns and told they were investing in a profitable real estate company with hundreds of residential and commercial properties.

According to the complaint, Gray advertised on a religious radio station based in Flint and singled out recently laid-off auto workers with severance packages to consult her for a “financial increase.”  Gray allegedly promised to roll over investors’ retirement funds into tax-advantaged Individual Retirement Accounts (IRA) and invest them in Treasure Enterprise.  The SEC alleges that no investor funds were deposited into IRAs, and Treasure Enterprise struggled to generate enough revenue from its real estate investments to support the business and make payments owed to investors.  Treasure Enterprise owes investors an estimated $1.9 million in past due payments, according to the SEC’s complaint.

“As alleged in our complaint, Holley and Gray targeted the retirement savings of churchgoers, building a bond of trust purportedly based on faith but actually based on false promises,” said David Glockner.

According to the SEC’s complaint, Holley, Gray, and Treasure Enterprise were not registered to sell investments.  The SEC encourages investors to check the background of anyone offering to sell them investments by doing a quick search on the SEC’s investor website.

The SEC has obtained a temporary restraining order in U.S. District Court for the Eastern District of Utah that freezes the assets of Holley, Gray, and Treasure Enterprise.  The court’s order also appoints a receiver and imposes other emergency relief.

The SEC’s complaint alleges violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.  The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and permanent injunctions.

The SEC’s investigation, which is continuing, is being conducted by Ana P. Doncic, Delia L. Helpingstine, and Sruthi Koneru of the Utah office.  The case is being supervised by Steven L. Klawans, and the litigation is being led by Jonathan S. Polish.

SEC ADOPTS JOBS ACT AMENDMENTS TO HELP ENTREPRENEURS AND INVESTORS

The Securities and Exchange Commission today announced that it has adopted amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that adjust for inflation a threshold used to determine eligibility for benefits offered to “emerging growth companies” (EGCs) under the Jumpstart Our Business Startups (JOBS) Act.

“Regular updates to the JOBS Act, as prescribed by Congress, ensure that the entrepreneurs and investors who benefit from crowdfunding will continue to do so,” said SEC Acting Chairman Michael S. Piwowar. “Under these amendments, the JOBS Act can continue to create jobs and investment opportunities for the general public.”

The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years after it was enacted on April 5, 2012.  In addition to the inflation adjustments, the SEC adopted technical amendments to conform several rules and forms to amendments made to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”) by Title I of the JOBS Act.

The Commission approved the new thresholds March 31. They will become effective when they are published in the Federal Register.

BACKGROUND ON THE SEC JOBS ACT

Section 101 of the JOBS Act added new Securities Act Section 2(a)(19) and Exchange Act Section 3(a)(80) to define the term “emerging growth company” (“EGC”).  Pursuant to those sections, every five years the SEC is directed to index the annual gross revenue amount used to determine EGC status to inflation to reflect the change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the Bureau of Labor Statistics (“BLS”).  To carry out this statutory directive, the SEC has adopted amendments to Securities Act Rule 405 and Exchange Act Rule 12b-2 to include a definition for EGC that reflects an inflation-adjusted annual gross revenue threshold.  The JOBS Act also added new Securities Act Section 4(a)(6), which provides an exemption from the registration requirements of Section 5 under the Securities Act for certain crowdfunding transactions.  In October 2015, the SEC promulgated Regulation Crowdfunding to implement that exemption.  Sections 4(a)(6) and 4A of the Securities Act set forth dollar amounts used in connection with the crowdfunding exemption, and Section 4A(h)(1) states that such dollar amounts shall be adjusted by the SEC not less frequently than once every five years to reflect the change in the CPI-U published by the BLS.  The SEC has adopted amendments to Rules 100 and 201(t) of Regulation Crowdfunding and Securities Act Form C to reflect the required inflation adjustments.

In addition, Sections 102 and 103 of the JOBS Act amended the Securities Act and the Exchange Act to provide several exemptions from a number of disclosure, shareholder voting, and other regulatory requirements for any issuer that qualifies as an EGC. The exemptions reduce the financial disclosures an EGC is required to provide in public offering registration statements and relieve an EGC from conducting advisory votes on executive compensation, as well as from a number of accounting and disclosure requirements.  The regulatory relief provided under Sections 102 and 103 of the JOBS Act was self-executing and became effective once the JOBS Act was signed into law.  The technical amendments that the SEC is adopting conform several rules and forms to reflect these JOBS Act statutory changes.

Free Initial Consultation with a Securities Lawyer

When you need help with an SEC or Securities matter, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

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Source: http://www.ascentlawfirm.com/sec-charges-pastor-with-defrauding-retirees/

[michaeljames1221]

SEC Charges Pastor with Defrauding Retirees

The Securities and Exchange Commission announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business.

The SEC alleges that Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., cloaked his solicitations in faith-based rhetoric, replete with references to scripture and biblical figures.  Holley allegedly told prospective investors that as a person who “prayed for your children,” he was more trustworthy than a “banker” with their money.  According to the SEC’s complaint, Holley held financial presentations masked as “Blessed Life Conferences” at churches nationwide during which he asked congregants to fill out cards detailing their financial holdings, and he promised to pray over the cards and invited attendees to have one-on-one consultations with his team.  He allegedly called his investors “millionaires in the making.”

According to the SEC’s complaint, which also charges Holley’s company Treasure Enterprise LLC and his business associate Patricia Enright Gray, approximately $6.7 million was raised from more than 80 investors who were guaranteed high returns and told they were investing in a profitable real estate company with hundreds of residential and commercial properties.

According to the complaint, Gray advertised on a religious radio station based in Flint and singled out recently laid-off auto workers with severance packages to consult her for a “financial increase.”  Gray allegedly promised to roll over investors’ retirement funds into tax-advantaged Individual Retirement Accounts (IRA) and invest them in Treasure Enterprise.  The SEC alleges that no investor funds were deposited into IRAs, and Treasure Enterprise struggled to generate enough revenue from its real estate investments to support the business and make payments owed to investors.  Treasure Enterprise owes investors an estimated $1.9 million in past due payments, according to the SEC’s complaint.

“As alleged in our complaint, Holley and Gray targeted the retirement savings of churchgoers, building a bond of trust purportedly based on faith but actually based on false promises,” said David Glockner.

According to the SEC’s complaint, Holley, Gray, and Treasure Enterprise were not registered to sell investments.  The SEC encourages investors to check the background of anyone offering to sell them investments by doing a quick search on the SEC’s investor website.

The SEC has obtained a temporary restraining order in U.S. District Court for the Eastern District of Utah that freezes the assets of Holley, Gray, and Treasure Enterprise.  The court’s order also appoints a receiver and imposes other emergency relief.

The SEC’s complaint alleges violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.  The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and permanent injunctions.

The SEC’s investigation, which is continuing, is being conducted by Ana P. Doncic, Delia L. Helpingstine, and Sruthi Koneru of the Utah office.  The case is being supervised by Steven L. Klawans, and the litigation is being led by Jonathan S. Polish.

SEC ADOPTS JOBS ACT AMENDMENTS TO HELP ENTREPRENEURS AND INVESTORS

The Securities and Exchange Commission today announced that it has adopted amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that adjust for inflation a threshold used to determine eligibility for benefits offered to “emerging growth companies” (EGCs) under the Jumpstart Our Business Startups (JOBS) Act.

“Regular updates to the JOBS Act, as prescribed by Congress, ensure that the entrepreneurs and investors who benefit from crowdfunding will continue to do so,” said SEC Acting Chairman Michael S. Piwowar. “Under these amendments, the JOBS Act can continue to create jobs and investment opportunities for the general public.”

The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years after it was enacted on April 5, 2012.  In addition to the inflation adjustments, the SEC adopted technical amendments to conform several rules and forms to amendments made to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”) by Title I of the JOBS Act.

The Commission approved the new thresholds March 31. They will become effective when they are published in the Federal Register.

BACKGROUND ON THE SEC JOBS ACT

Section 101 of the JOBS Act added new Securities Act Section 2(a)(19) and Exchange Act Section 3(a)(80) to define the term “emerging growth company” (“EGC”).  Pursuant to those sections, every five years the SEC is directed to index the annual gross revenue amount used to determine EGC status to inflation to reflect the change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the Bureau of Labor Statistics (“BLS”).  To carry out this statutory directive, the SEC has adopted amendments to Securities Act Rule 405 and Exchange Act Rule 12b-2 to include a definition for EGC that reflects an inflation-adjusted annual gross revenue threshold.  The JOBS Act also added new Securities Act Section 4(a)(6), which provides an exemption from the registration requirements of Section 5 under the Securities Act for certain crowdfunding transactions.  In October 2015, the SEC promulgated Regulation Crowdfunding to implement that exemption.  Sections 4(a)(6) and 4A of the Securities Act set forth dollar amounts used in connection with the crowdfunding exemption, and Section 4A(h)(1) states that such dollar amounts shall be adjusted by the SEC not less frequently than once every five years to reflect the change in the CPI-U published by the BLS.  The SEC has adopted amendments to Rules 100 and 201(t) of Regulation Crowdfunding and Securities Act Form C to reflect the required inflation adjustments.

In addition, Sections 102 and 103 of the JOBS Act amended the Securities Act and the Exchange Act to provide several exemptions from a number of disclosure, shareholder voting, and other regulatory requirements for any issuer that qualifies as an EGC. The exemptions reduce the financial disclosures an EGC is required to provide in public offering registration statements and relieve an EGC from conducting advisory votes on executive compensation, as well as from a number of accounting and disclosure requirements.  The regulatory relief provided under Sections 102 and 103 of the JOBS Act was self-executing and became effective once the JOBS Act was signed into law.  The technical amendments that the SEC is adopting conform several rules and forms to reflect these JOBS Act statutory changes.

Free Initial Consultation with a Securities Lawyer

When you need help with an SEC or Securities matter, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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from Michael Anderson http://www.ascentlawfirm.com/sec-charges-pastor-with-defrauding-retirees/

from Criminal Defense Lawyer West Jordan Utah https://criminaldefenselawyerwestjordanutah.wordpress.com/2018/03/16/sec-charges-pastor-with-defrauding-retirees/

[shirleydazzle]

SEC Charges Pastor with Defrauding Retirees

The Securities and Exchange Commission announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business.

The SEC alleges that Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., cloaked his solicitations in faith-based rhetoric, replete with references to scripture and biblical figures.  Holley allegedly told prospective investors that as a person who “prayed for your children,” he was more trustworthy than a “banker” with their money.  According to the SEC’s complaint, Holley held financial presentations masked as “Blessed Life Conferences” at churches nationwide during which he asked congregants to fill out cards detailing their financial holdings, and he promised to pray over the cards and invited attendees to have one-on-one consultations with his team.  He allegedly called his investors “millionaires in the making.”

According to the SEC’s complaint, which also charges Holley’s company Treasure Enterprise LLC and his business associate Patricia Enright Gray, approximately $6.7 million was raised from more than 80 investors who were guaranteed high returns and told they were investing in a profitable real estate company with hundreds of residential and commercial properties.

According to the complaint, Gray advertised on a religious radio station based in Flint and singled out recently laid-off auto workers with severance packages to consult her for a “financial increase.”  Gray allegedly promised to roll over investors’ retirement funds into tax-advantaged Individual Retirement Accounts (IRA) and invest them in Treasure Enterprise.  The SEC alleges that no investor funds were deposited into IRAs, and Treasure Enterprise struggled to generate enough revenue from its real estate investments to support the business and make payments owed to investors.  Treasure Enterprise owes investors an estimated $1.9 million in past due payments, according to the SEC’s complaint.

“As alleged in our complaint, Holley and Gray targeted the retirement savings of churchgoers, building a bond of trust purportedly based on faith but actually based on false promises,” said David Glockner.

According to the SEC’s complaint, Holley, Gray, and Treasure Enterprise were not registered to sell investments.  The SEC encourages investors to check the background of anyone offering to sell them investments by doing a quick search on the SEC’s investor website.

The SEC has obtained a temporary restraining order in U.S. District Court for the Eastern District of Utah that freezes the assets of Holley, Gray, and Treasure Enterprise.  The court’s order also appoints a receiver and imposes other emergency relief.

The SEC’s complaint alleges violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.  The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and permanent injunctions.

The SEC’s investigation, which is continuing, is being conducted by Ana P. Doncic, Delia L. Helpingstine, and Sruthi Koneru of the Utah office.  The case is being supervised by Steven L. Klawans, and the litigation is being led by Jonathan S. Polish.

SEC ADOPTS JOBS ACT AMENDMENTS TO HELP ENTREPRENEURS AND INVESTORS

The Securities and Exchange Commission today announced that it has adopted amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that adjust for inflation a threshold used to determine eligibility for benefits offered to “emerging growth companies” (EGCs) under the Jumpstart Our Business Startups (JOBS) Act.

“Regular updates to the JOBS Act, as prescribed by Congress, ensure that the entrepreneurs and investors who benefit from crowdfunding will continue to do so,” said SEC Acting Chairman Michael S. Piwowar. “Under these amendments, the JOBS Act can continue to create jobs and investment opportunities for the general public.”

The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years after it was enacted on April 5, 2012.  In addition to the inflation adjustments, the SEC adopted technical amendments to conform several rules and forms to amendments made to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”) by Title I of the JOBS Act.

The Commission approved the new thresholds March 31. They will become effective when they are published in the Federal Register.

BACKGROUND ON THE SEC JOBS ACT

Section 101 of the JOBS Act added new Securities Act Section 2(a)(19) and Exchange Act Section 3(a)(80) to define the term “emerging growth company” (“EGC”).  Pursuant to those sections, every five years the SEC is directed to index the annual gross revenue amount used to determine EGC status to inflation to reflect the change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the Bureau of Labor Statistics (“BLS”).  To carry out this statutory directive, the SEC has adopted amendments to Securities Act Rule 405 and Exchange Act Rule 12b-2 to include a definition for EGC that reflects an inflation-adjusted annual gross revenue threshold.  The JOBS Act also added new Securities Act Section 4(a)(6), which provides an exemption from the registration requirements of Section 5 under the Securities Act for certain crowdfunding transactions.  In October 2015, the SEC promulgated Regulation Crowdfunding to implement that exemption.  Sections 4(a)(6) and 4A of the Securities Act set forth dollar amounts used in connection with the crowdfunding exemption, and Section 4A(h)(1) states that such dollar amounts shall be adjusted by the SEC not less frequently than once every five years to reflect the change in the CPI-U published by the BLS.  The SEC has adopted amendments to Rules 100 and 201(t) of Regulation Crowdfunding and Securities Act Form C to reflect the required inflation adjustments.

In addition, Sections 102 and 103 of the JOBS Act amended the Securities Act and the Exchange Act to provide several exemptions from a number of disclosure, shareholder voting, and other regulatory requirements for any issuer that qualifies as an EGC. The exemptions reduce the financial disclosures an EGC is required to provide in public offering registration statements and relieve an EGC from conducting advisory votes on executive compensation, as well as from a number of accounting and disclosure requirements.  The regulatory relief provided under Sections 102 and 103 of the JOBS Act was self-executing and became effective once the JOBS Act was signed into law.  The technical amendments that the SEC is adopting conform several rules and forms to reflect these JOBS Act statutory changes.

Free Initial Consultation with a Securities Lawyer

When you need help with an SEC or Securities matter, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

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Child Support and Parental Relocation

Securities Lawyer

Copyright Lawyer

MLM Lawyer

Intellectual Property Lawyer

Source: http://www.ascentlawfirm.com/sec-charges-pastor-with-defrauding-retirees/

[advertphoto]

SEC Charges Pastor with Defrauding Retirees

The Securities and Exchange Commission announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business.

The SEC alleges that Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., cloaked his solicitations in faith-based rhetoric, replete with references to scripture and biblical figures.  Holley allegedly told prospective investors that as a person who “prayed for your children,” he was more trustworthy than a “banker” with their money.  According to the SEC’s complaint, Holley held financial presentations masked as “Blessed Life Conferences” at churches nationwide during which he asked congregants to fill out cards detailing their financial holdings, and he promised to pray over the cards and invited attendees to have one-on-one consultations with his team.  He allegedly called his investors “millionaires in the making.”

According to the SEC’s complaint, which also charges Holley’s company Treasure Enterprise LLC and his business associate Patricia Enright Gray, approximately $6.7 million was raised from more than 80 investors who were guaranteed high returns and told they were investing in a profitable real estate company with hundreds of residential and commercial properties.

According to the complaint, Gray advertised on a religious radio station based in Flint and singled out recently laid-off auto workers with severance packages to consult her for a “financial increase.”  Gray allegedly promised to roll over investors’ retirement funds into tax-advantaged Individual Retirement Accounts (IRA) and invest them in Treasure Enterprise.  The SEC alleges that no investor funds were deposited into IRAs, and Treasure Enterprise struggled to generate enough revenue from its real estate investments to support the business and make payments owed to investors.  Treasure Enterprise owes investors an estimated $1.9 million in past due payments, according to the SEC’s complaint.

“As alleged in our complaint, Holley and Gray targeted the retirement savings of churchgoers, building a bond of trust purportedly based on faith but actually based on false promises,” said David Glockner.

According to the SEC’s complaint, Holley, Gray, and Treasure Enterprise were not registered to sell investments.  The SEC encourages investors to check the background of anyone offering to sell them investments by doing a quick search on the SEC’s investor website.

The SEC has obtained a temporary restraining order in U.S. District Court for the Eastern District of Utah that freezes the assets of Holley, Gray, and Treasure Enterprise.  The court’s order also appoints a receiver and imposes other emergency relief.

The SEC’s complaint alleges violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.  The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and permanent injunctions.

The SEC’s investigation, which is continuing, is being conducted by Ana P. Doncic, Delia L. Helpingstine, and Sruthi Koneru of the Utah office.  The case is being supervised by Steven L. Klawans, and the litigation is being led by Jonathan S. Polish.

SEC ADOPTS JOBS ACT AMENDMENTS TO HELP ENTREPRENEURS AND INVESTORS

The Securities and Exchange Commission today announced that it has adopted amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that adjust for inflation a threshold used to determine eligibility for benefits offered to “emerging growth companies” (EGCs) under the Jumpstart Our Business Startups (JOBS) Act.

“Regular updates to the JOBS Act, as prescribed by Congress, ensure that the entrepreneurs and investors who benefit from crowdfunding will continue to do so,” said SEC Acting Chairman Michael S. Piwowar. “Under these amendments, the JOBS Act can continue to create jobs and investment opportunities for the general public.”

The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years after it was enacted on April 5, 2012.  In addition to the inflation adjustments, the SEC adopted technical amendments to conform several rules and forms to amendments made to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”) by Title I of the JOBS Act.

The Commission approved the new thresholds March 31. They will become effective when they are published in the Federal Register.

BACKGROUND ON THE SEC JOBS ACT

Section 101 of the JOBS Act added new Securities Act Section 2(a)(19) and Exchange Act Section 3(a)(80) to define the term “emerging growth company” (“EGC”).  Pursuant to those sections, every five years the SEC is directed to index the annual gross revenue amount used to determine EGC status to inflation to reflect the change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the Bureau of Labor Statistics (“BLS”).  To carry out this statutory directive, the SEC has adopted amendments to Securities Act Rule 405 and Exchange Act Rule 12b-2 to include a definition for EGC that reflects an inflation-adjusted annual gross revenue threshold.  The JOBS Act also added new Securities Act Section 4(a)(6), which provides an exemption from the registration requirements of Section 5 under the Securities Act for certain crowdfunding transactions.  In October 2015, the SEC promulgated Regulation Crowdfunding to implement that exemption.  Sections 4(a)(6) and 4A of the Securities Act set forth dollar amounts used in connection with the crowdfunding exemption, and Section 4A(h)(1) states that such dollar amounts shall be adjusted by the SEC not less frequently than once every five years to reflect the change in the CPI-U published by the BLS.  The SEC has adopted amendments to Rules 100 and 201(t) of Regulation Crowdfunding and Securities Act Form C to reflect the required inflation adjustments.

In addition, Sections 102 and 103 of the JOBS Act amended the Securities Act and the Exchange Act to provide several exemptions from a number of disclosure, shareholder voting, and other regulatory requirements for any issuer that qualifies as an EGC. The exemptions reduce the financial disclosures an EGC is required to provide in public offering registration statements and relieve an EGC from conducting advisory votes on executive compensation, as well as from a number of accounting and disclosure requirements.  The regulatory relief provided under Sections 102 and 103 of the JOBS Act was self-executing and became effective once the JOBS Act was signed into law.  The technical amendments that the SEC is adopting conform several rules and forms to reflect these JOBS Act statutory changes.

Free Initial Consultation with a Securities Lawyer

When you need help with an SEC or Securities matter, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Government Liability and Immunity in Utah

Child Support and Parental Relocation

Securities Lawyer

Copyright Lawyer

MLM Lawyer

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Source: http://www.ascentlawfirm.com/sec-charges-pastor-with-defrauding-retirees/

[vivianarner]

SEC Charges Pastor with Defrauding Retirees

The Securities and Exchange Commission announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business.

The SEC alleges that Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., cloaked his solicitations in faith-based rhetoric, replete with references to scripture and biblical figures.  Holley allegedly told prospective investors that as a person who “prayed for your children,” he was more trustworthy than a “banker” with their money.  According to the SEC’s complaint, Holley held financial presentations masked as “Blessed Life Conferences” at churches nationwide during which he asked congregants to fill out cards detailing their financial holdings, and he promised to pray over the cards and invited attendees to have one-on-one consultations with his team.  He allegedly called his investors “millionaires in the making.”

According to the SEC’s complaint, which also charges Holley’s company Treasure Enterprise LLC and his business associate Patricia Enright Gray, approximately $6.7 million was raised from more than 80 investors who were guaranteed high returns and told they were investing in a profitable real estate company with hundreds of residential and commercial properties.

According to the complaint, Gray advertised on a religious radio station based in Flint and singled out recently laid-off auto workers with severance packages to consult her for a “financial increase.”  Gray allegedly promised to roll over investors’ retirement funds into tax-advantaged Individual Retirement Accounts (IRA) and invest them in Treasure Enterprise.  The SEC alleges that no investor funds were deposited into IRAs, and Treasure Enterprise struggled to generate enough revenue from its real estate investments to support the business and make payments owed to investors.  Treasure Enterprise owes investors an estimated $1.9 million in past due payments, according to the SEC’s complaint.

“As alleged in our complaint, Holley and Gray targeted the retirement savings of churchgoers, building a bond of trust purportedly based on faith but actually based on false promises,” said David Glockner.

According to the SEC’s complaint, Holley, Gray, and Treasure Enterprise were not registered to sell investments.  The SEC encourages investors to check the background of anyone offering to sell them investments by doing a quick search on the SEC’s investor website.

The SEC has obtained a temporary restraining order in U.S. District Court for the Eastern District of Utah that freezes the assets of Holley, Gray, and Treasure Enterprise.  The court’s order also appoints a receiver and imposes other emergency relief.

The SEC’s complaint alleges violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.  The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and permanent injunctions.

The SEC’s investigation, which is continuing, is being conducted by Ana P. Doncic, Delia L. Helpingstine, and Sruthi Koneru of the Utah office.  The case is being supervised by Steven L. Klawans, and the litigation is being led by Jonathan S. Polish.

SEC ADOPTS JOBS ACT AMENDMENTS TO HELP ENTREPRENEURS AND INVESTORS

The Securities and Exchange Commission today announced that it has adopted amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that adjust for inflation a threshold used to determine eligibility for benefits offered to “emerging growth companies” (EGCs) under the Jumpstart Our Business Startups (JOBS) Act.

“Regular updates to the JOBS Act, as prescribed by Congress, ensure that the entrepreneurs and investors who benefit from crowdfunding will continue to do so,” said SEC Acting Chairman Michael S. Piwowar. “Under these amendments, the JOBS Act can continue to create jobs and investment opportunities for the general public.”

The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years after it was enacted on April 5, 2012.  In addition to the inflation adjustments, the SEC adopted technical amendments to conform several rules and forms to amendments made to the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934 (“Exchange Act”) by Title I of the JOBS Act.

The Commission approved the new thresholds March 31. They will become effective when they are published in the Federal Register.

BACKGROUND ON THE SEC JOBS ACT

Section 101 of the JOBS Act added new Securities Act Section 2(a)(19) and Exchange Act Section 3(a)(80) to define the term “emerging growth company” (“EGC”).  Pursuant to those sections, every five years the SEC is directed to index the annual gross revenue amount used to determine EGC status to inflation to reflect the change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the Bureau of Labor Statistics (“BLS”).  To carry out this statutory directive, the SEC has adopted amendments to Securities Act Rule 405 and Exchange Act Rule 12b-2 to include a definition for EGC that reflects an inflation-adjusted annual gross revenue threshold.  The JOBS Act also added new Securities Act Section 4(a)(6), which provides an exemption from the registration requirements of Section 5 under the Securities Act for certain crowdfunding transactions.  In October 2015, the SEC promulgated Regulation Crowdfunding to implement that exemption.  Sections 4(a)(6) and 4A of the Securities Act set forth dollar amounts used in connection with the crowdfunding exemption, and Section 4A(h)(1) states that such dollar amounts shall be adjusted by the SEC not less frequently than once every five years to reflect the change in the CPI-U published by the BLS.  The SEC has adopted amendments to Rules 100 and 201(t) of Regulation Crowdfunding and Securities Act Form C to reflect the required inflation adjustments.

In addition, Sections 102 and 103 of the JOBS Act amended the Securities Act and the Exchange Act to provide several exemptions from a number of disclosure, shareholder voting, and other regulatory requirements for any issuer that qualifies as an EGC. The exemptions reduce the financial disclosures an EGC is required to provide in public offering registration statements and relieve an EGC from conducting advisory votes on executive compensation, as well as from a number of accounting and disclosure requirements.  The regulatory relief provided under Sections 102 and 103 of the JOBS Act was self-executing and became effective once the JOBS Act was signed into law.  The technical amendments that the SEC is adopting conform several rules and forms to reflect these JOBS Act statutory changes.

Free Initial Consultation with a Securities Lawyer

When you need help with an SEC or Securities matter, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC8833 S. Redwood Road, Suite CWest Jordan, Utah 84088 United StatesTelephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Government Liability and Immunity in Utah

Child Support and Parental Relocation

Securities Lawyer

Copyright Lawyer

MLM Lawyer

Intellectual Property Lawyer

Source: http://www.ascentlawfirm.com/sec-charges-pastor-with-defrauding-retirees/

[elizabethcariasa]

Black Friday shopping for tax breaks … for the final time?

A crush of shoppers rushes to start their Black Friday quest for bargains. (Photo via Diariocritico de Venezuela/Stan Honda/Flickr CC)

Black Friday, the day-after-Thanksgiving kickoff to the holiday shopping season, may have lost some of its luster in recent years, but plenty of shoppers still hit the stores today to bargain hunt.

If you're among the frenzied shoppers, hang onto your receipts if you buy a lot or big-ticket items. They could bump up your itemized tax deduction.

And your 2017 tax return might be the last time you'll be able to take advantage of this deduction.

Tax reform deduction trimming: When Congress reconvenes after the Thanksgiving break, Senate Republican plan to bring their version of tax reform to a vote. The House already approved its bill, H.R. 1, the Tax Cuts and Jobs Act.

Both legislative chambers propose lowering tax rates. But to do so, some deductions must go. That's not unusual; such a trade-off is common to keep the cost of the tax code changes within budgetary boundaries.

This time both legislative chambers are targeting itemized deductions, specifically state and local taxes. This covers not only the long-standing write-off on Schedule A for state and local income taxes, but also the amounts paid in state and local sales taxes.

The sales tax deduction was added to the Internal Revenue Code in 2004 in an effort to, as the saying goes, level the playing field for folks in the states that do not collect income taxes. This deduction is a no-brainer for folks in Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming, all states that don't have any type of personal income tax.

The sales tax deduction also is probably the better choice for many New Hampshire and Tennessee residents. Taxpayers in those two states state tax only on their interest and dividend income. (Tennessee is phasing out this tax.)

But even in some states with low income taxes, the sales tax deduction is a better tax-saving move.

Permanent tax break again impermanent: Since its addition to the tax code, the state and local tax deduction technically was only a temporary measure, part of what is known as the extenders that must be periodically renewed by Congress. However, the sales tax deduction became a permanent tax break as part of the Protecting Americans from Tax Hikes, or PATH, Act of 2015.

Since the combined state and local tax deduction — which covers not only income and sales taxes, but also property taxes — are among the largest amounts in the tax code, they because easy targets for tax trimming lawmakers.

Plus, the state and local taxes, referred to as the acronym SALT by tax geeks, are claimed by less than a third of taxpayers. And that group of itemizers is disproportionately wealthy, with around 80 percent of the value of the deduction going to those in the upper income brackets.

The House's tax reform bill does away most SALT deductions, only keeping a deduction of up to $10,000 in property taxes. The Senate eliminates SALT completely from its tax diet.

The good news for SALT taxpayers is that any change in the deduction won't take effect until, at the earliest, the 2018 tax year. So if you claim any of these taxes, your 2017 filing could be your last opportunity to do so.

And holiday purchases, starting with today's Black Friday buys, could be your last best chance to collect deductible sales taxes.

Tax tables make it easier: Most taxpayers who claim the sales tax deduction use the tables that the IRS provides for each state. These show the average amounts for each state that its residents pay in state sales taxes.

You have to do a little more filing work to add in any local sales taxes you pay. Here in Austin, that's a 2 percentage point addition to Texas' 6.25 percent sales tax.

You'll find the tables at the back of the Schedule A instructions. Or you can use the IRS' online sales tax deduction calculator to get an idea of your deduction amount.

The IRS has a worksheet to help us figure our deductible local tax amounts. Most filers let their tax software figure this added deduction claim.

Big ticket deductions: There's also the option to add to the average amount in the table any sales taxes paid on big-ticket items.

You can add these amounts right on top of the sales tax table figure that you claim. They include sales taxes paid on:

Motor vehicle, including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van and off-road vehicle. You also can count the state and local tax charged on any of these motor vehicles that you leased instead of bought.

Aircraft or boat where the tax was the same as your general sales tax rate.

A home, including a mobile home or prefabricated home, or a substantial addition to or major renovation of a home. If your contractor bought the material per your building contract, that's OK. You are then considered to have purchased the tax-deductible items and can claim them on your tax return. Again, as with boats and planes, the tax rate must be the same as your general sales tax.

Since these are things most of us don't buy every year, the IRS doesn't include them in calculating the average annual amount in the sales tax tables.

But when you do buy them (at least under current, unreformed tax law), you can account for the added sales tax on these occasional large expenditures in addition to the tables.

So be sure to hold onto to those big ticket receipts.

Retailers rely on Black Friday+ sales: Other things that consumers if not the IRS consider big ticket items are among the purchases made by many over the holidays.

And retailers in those sectors are very thankful for these customers since the shops rely heavily on seasonal sales.

Say you're finally answering the question that his or her family has been asking, at least among themselves, about your intentions toward your significant other. The diamond ring you buy now to pop the question over the holidays could have a hefty sales tax attached.

Similarly, if your sales-tax deductible home re-do added a game room, you could end up with a hefty sales tax bill on the video games and electronics you buy now to fill up the home addition.

Those are two of the industry areas where retailers count on holiday sales to make their business year successful, according to data from Statista.

You will find more statistics at Statista

Collect, recover receipts: Note, however, that the engagement ring and roomful of electronics — and things bought in the areas featured in the graph above — are NOT part of the IRS-approved big-ticket add-ons to the sales tax tables.

You can't just tack those amounts onto the already IRS-computed sales tax table amounts. That option is limited to the areas (vehicles, home renovations, etc.) noted earlier in this post.

That means that if you are buying other expensive items and you want to include their state and local sales taxes as part of your overall itemized deduction claims, you're going to have to dig up or reconstruct the sales taxes you paid on everything else in 2017 to get an accurate account of how much you paid. 

The extra receipt work might be worth it, though, if the sales taxes on your holiday-shopping season purchased goods, when combined with your other run-of-the-meal sales taxes throughout the year, come to more than the amount in the sales tax tables.

You also might find these items of interest:

GOP tax plans would rub SALT in some Red State tax wounds

Alec Baldwin accused of avoiding New York sales tax on disputed painting purchase

Oklahoma freezes standard tax deduction amounts in advance of any Trump tax reform

Advertisement

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[christophergill8]

Black Friday shopping for tax breaks … for the final time?

A crush of shoppers rushes to start their Black Friday quest for bargains. (Photo via Diariocritico de Venezuela/Stan Honda/Flickr CC)

Black Friday, the day-after-Thanksgiving kickoff to the holiday shopping season, may have lost some of its luster in recent years, but plenty of shoppers still hit the stores today to bargain hunt.

If you're among the frenzied shoppers, hang onto your receipts if you buy a lot or big-ticket items. They could bump up your itemized tax deduction.

And your 2017 tax return might be the last time you'll be able to take advantage of this deduction.

Tax reform deduction trimming: When Congress reconvenes after the Thanksgiving break, Senate Republican plan to bring their version of tax reform to a vote. The House already approved its bill, H.R. 1, the Tax Cuts and Jobs Act.

Both legislative chambers propose lowering tax rates. But to do so, some deductions must go. That's not unusual; such a trade-off is common to keep the cost of the tax code changes within budgetary boundaries.

This time both legislative chambers are targeting itemized deductions, specifically state and local taxes. This covers not only the long-standing write-off on Schedule A for state and local income taxes, but also the amounts paid in state and local sales taxes.

The sales tax deduction was added to the Internal Revenue Code in 2004 in an effort to, as the saying goes, level the playing field for folks in the states that do not collect income taxes. This deduction is a no-brainer for folks in Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming, all states that don't have any type of personal income tax.

The sales tax deduction also is probably the better choice for many New Hampshire and Tennessee residents. Taxpayers in those two states state tax only on their interest and dividend income. (Tennessee is phasing out this tax.)

But even in some states with low income taxes, the sales tax deduction is a better tax-saving move.

Permanent tax break again impermanent: Since its addition to the tax code, the state and local tax deduction technically was only a temporary measure, part of what is known as the extenders that must be periodically renewed by Congress. However, the sales tax deduction became a permanent tax break as part of the Protecting Americans from Tax Hikes, or PATH, Act of 2015.

Since the combined state and local tax deduction — which covers not only income and sales taxes, but also property taxes — are among the largest amounts in the tax code, they because easy targets for tax trimming lawmakers.

Plus, the state and local taxes, referred to as the acronym SALT by tax geeks, are claimed by less than a third of taxpayers. And that group of itemizers is disproportionately wealthy, with around 80 percent of the value of the deduction going to those in the upper income brackets.

The House's tax reform bill does away most SALT deductions, only keeping a deduction of up to $10,000 in property taxes. The Senate eliminates SALT completely from its tax diet.

The good news for SALT taxpayers is that any change in the deduction won't take effect until, at the earliest, the 2018 tax year. So if you claim any of these taxes, your 2017 filing could be your last opportunity to do so.

And holiday purchases, starting with today's Black Friday buys, could be your last best chance to collect deductible sales taxes.

Tax tables make it easier: Most taxpayers who claim the sales tax deduction use the tables that the IRS provides for each state. These show the average amounts for each state that its residents pay in state sales taxes.

You have to do a little more filing work to add in any local sales taxes you pay. Here in Austin, that's a 2 percentage point addition to Texas' 6.25 percent sales tax.

You'll find the tables at the back of the Schedule A instructions. Or you can use the IRS' online sales tax deduction calculator to get an idea of your deduction amount.

The IRS has a worksheet to help us figure our deductible local tax amounts. Most filers let their tax software figure this added deduction claim.

Big ticket deductions: There's also the option to add to the average amount in the table any sales taxes paid on big-ticket items.

You can add these amounts right on top of the sales tax table figure that you claim. They include sales taxes paid on:

Motor vehicle, including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van and off-road vehicle. You also can count the state and local tax charged on any of these motor vehicles that you leased instead of bought.

Aircraft or boat where the tax was the same as your general sales tax rate.

A home, including a mobile home or prefabricated home, or a substantial addition to or major renovation of a home. If your contractor bought the material per your building contract, that's OK. You are then considered to have purchased the tax-deductible items and can claim them on your tax return. Again, as with boats and planes, the tax rate must be the same as your general sales tax.

Since these are things most of us don't buy every year, the IRS doesn't include them in calculating the average annual amount in the sales tax tables.

But when you do buy them (at least under current, unreformed tax law), you can account for the added sales tax on these occasional large expenditures in addition to the tables.

So be sure to hold onto to those big ticket receipts.

Retailers rely on Black Friday+ sales: Other things that consumers if not the IRS consider big ticket items are among the purchases made by many over the holidays.

And retailers in those sectors are very thankful for these customers since the shops rely heavily on seasonal sales.

Say you're finally answering the question that his or her family has been asking, at least among themselves, about your intentions toward your significant other. The diamond ring you buy now to pop the question over the holidays could have a hefty sales tax attached.

Similarly, if your sales-tax deductible home re-do added a game room, you could end up with a hefty sales tax bill on the video games and electronics you buy now to fill up the home addition.

Those are two of the industry areas where retailers count on holiday sales to make their business year successful, according to data from Statista.

You will find more statistics at Statista

Collect, recover receipts: Note, however, that the engagement ring and roomful of electronics — and things bought in the areas featured in the graph above — are NOT part of the IRS-approved big-ticket add-ons to the sales tax tables.

You can't just tack those amounts onto the already IRS-computed sales tax table amounts. That option is limited to the areas (vehicles, home renovations, etc.) noted earlier in this post.

That means that if you are buying other expensive items and you want to include their state and local sales taxes as part of your overall itemized deduction claims, you're going to have to dig up or reconstruct the sales taxes you paid on everything else in 2017 to get an accurate account of how much you paid. 

The extra receipt work might be worth it, though, if the sales taxes on your holiday-shopping season purchased goods, when combined with your other run-of-the-meal sales taxes throughout the year, come to more than the amount in the sales tax tables.

You also might find these items of interest:

GOP tax plans would rub SALT in some Red State tax wounds

Alec Baldwin accused of avoiding New York sales tax on disputed painting purchase

Oklahoma freezes standard tax deduction amounts in advance of any Trump tax reform

Advertisement

// <![CDATA[ // &lt;![CDATA[ // &amp;lt;![CDATA[ // &amp;amp;lt;![CDATA[ // &amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ // &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;![CDATA[ (adsbygoogle = window.adsbygoogle || []).push({}); // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;amp;gt; // ]]&amp;amp;amp;amp;gt; // ]]&amp;amp;amp;gt; // ]]&amp;amp;gt; // ]]&amp;gt; // ]]&gt; // ]]>

from Tax News By Christopher http://www.dontmesswithtaxes.com/2017/11/black-friday-shopping-sales-tax-deduction-retailers-that-are-most-reliant-on-holiday-sales-for-survival.html

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