Hi, Website Visitor. Here are your Articles for October 29, 2008.
Rea & Associates, Inc. Announcements
How Retailers Can Make the Best of a Slowdown
Downturns are tough on retailers. Recent McKinsey research indicates that during the last two recessions (1990 to 1991 and 2000 to 2001), growth slowed for nearly every retail sub-sector in the U.S. Ninety-three percent of the retailers surveyed that existed during both downturns experienced slowing revenue growth in one of them, and 59 percent endured it in both.
These past few weeks have been trying for all of us. It seems like each new day brings more bad economic news. To top it off, there is much uncertainty about the future tax implications surrounding the election of a new president, regardless of who he turns out to be. Some of us would rather have a root canal than pick up the morning Wall Street Journal or listen to the news.
Foreign Sourced Income & Foreign Bank Accounts: When and Where is it Taxable and What Needs to be Disclosed?
The ever-popular scenario and confusion goes like this: A U.S. citizen has earned substantial interest income in Canada (foreign income). Is it really taxable in the U.S.? We've heard on TV that only foreign income that is brought back into the United States is taxable. The answer to this scenario is somewhat correct in that ‘certain business entities' may have income that is not taxable in the U.S. until it is repatriated to (brought into) the U.S.
To help Ohioans improve their financial futures, The Ohio Society of CPAs, in partnership with The Ohio CPA Foundation, launched Financial Fitness Ohio – an initiative led by CPAs from across the state to educate Ohioans on how to make informed decisions about their personal finances.
We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.
It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.
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