The benefits of offshore without leaving the country

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

For wealthy Americans looking to veil their assets and shield some of their income from taxation, there is no need to go to Panama or any other offshore tax haven. According to the New York Times, it’s easy to establish a shell corporation right here at home and virtually no questions are asked. Questions: 1…. Read more »

A new retirement plan in the works for California

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting.

Lawmakers in California are considering a state-run 401K program to help private-sector employees that don’t get a retirement savings plan from their employer. Questions: 1. What types of workers is the plan targeting? 2. How many Californians does this include? 3. How much is the expected contribution by workers? 4. Can the plan be transferred… Read more »

Cheap Rent in San Francisco

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According to the Washington Post, Peter Berkowitz and his roommates came up with an innovative way to find affordable housing in San Francisco. Questions: 1. Why is the cost of living so high in San Francisco? 2. What are some of the other housing alternatives mentioned in the article? 3. How does the median rent… Read more »

Credit Card Chips

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Did you ever wonder why so many retailers have chip-readable machines for credit cards, but tell you to swipe your card anyway? This article explains this frustrating issue for retailers. Questions: 1. Merchants have spent incredible amounts of money to get new chip-reading machines, so what is the reason for not using them? 2. Since… Read more »

A deeply ill-conceived way to address student debt?

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Members of Congress have introduced bipartisan bills that would give a tax break to the growing number of companies that offer to help pay off their employees’ student loans. Questions: 1. What are the reasons that the article presents for this idea as being a deeply ill-conceived way to address student debt? Do you agree… Read more »

I’ll have a Double Irish, Dutch Sandwich to go please

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

In a remarkable tax maneuver, Google moved 10.7 billion euros (or $12 billion) through the Netherlands to Bermuda in 2014. As a result of this structuring, Google will earn most of its foreign income tax-free. Questions: 1. What is this tax strategy called and why? Why Bermuda? 2. Why has corporate tax avoidance risen to… Read more »

A Sign of the Times: Monopoly Changes

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In its newest edition of Monopoly called “Ultimate Banking,” Hasbro has decided to drop the dollar bills and replace them with credit cards. Questions: 1.When did Parker Brothers first start selling the Monopoly game? 2.How will players keep track of their property and money with this new version of the game? 3. What are some… Read more »

End Arbitration?

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As this blog has noted, arbitration clauses have proliferated in all types of contracts over the last few years for transactions related to cellphone service, credit cards, student loans, etc. Now a pivotal case regarding a nursing home death is putting arbitration to the test for its lack of transparency and applicability to elder abuse… Read more »

Lock Down that Debit Card

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Have you ever lost or misplaced your debit card? Now some banks are offering a simple app for your cellphone that will allow you to protect bank accounts quickly while you figures out whether you lost or misplaced your card. Questions: 1. How does Bank of America’s version of the debit card lock work? 2…. Read more »

Walmart Adds to the Woes of Small Town America

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WalMart recently made the decision to close over a hundred stores at once in rural towns across America. In many cases, competitors were forced out of business by the WalMart stores, so now these rural towns are left without grocery stores or shopping options that are many miles away. Questions: 1. According to the article,… Read more »