This document provides tax information for 2009, including federal tax rates and limits, retirement contribution limits, mileage rates, minimum wage rates, and state tax rates and limits for various regions in the United States. Key details include the FICA and Medicare tax rates and wage bases, 401k and IRA contribution limits up to $16,500 and $11,500 respectively, and the federal minimum wage increasing to $7.25 per hour in July 2009. State tax rates, unemployment insurance rates, and minimum wages are provided for multiple states in different regions.
Raytheon Reports 2004 Third Quarter Resultsfinance12
- Raytheon reported Q3 sales of $4.9 billion, up 12.7% from 2003, and earnings of $0.41 per share.
- Backlog reached a record $32.8 billion driven by strong bookings of $5.7 billion in Q3.
- Free cash flow for Q3 was $204 million including a $210 million payment for the settlement of a shareholder lawsuit.
- Guidance for 2004 was increased for GAAP EPS to $0.87-$0.92 and excludes the settlement payment.
Raytheon reported Q4 earnings. Key highlights included bookings of $5.5 billion, sales growth of 12% to $5.7 billion, and earnings per share of $0.54. Segment results were positive, with most experiencing sales growth in the high single digit to low double digit range compared to Q4 2003. For 2005, Raytheon expects bookings of $22.5-$23.5 billion, sales of $21.5-$22 billion, and GAAP EPS of $1.80-$1.90. Free cash flow is projected at $1.2-$1.4 billion.
Level Brands (NYSE American: LEVB) is an innovative brand management and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses. Level Brands owns and operates the nationally recognized consumer cannabidiol (CBD) brand cbdMD, whose current products include CBD gummies, CBD tinctures, CBD topical, CBD bath bombs, CBD oils, and CBD pet products. The Company's primary licensing and corporate brand management businesses target consumer products in the health and wellness space and other high-demand verticals, bringing innovative products to market under the kathy ireland® Health & Wellness; Ireland Men One (I'M1), and Encore Endeavor One (EE1) brands. Learn more at www.LEVBinfo.com.
This document provides disclaimers and information regarding an investment opportunity in Kut Auto Finance LLC, which aims to introduce integrity to subprime auto lending. It summarizes Kut's process of ethically refinancing predatory auto loans at lower rates to benefit customers financially and increase profits. The document includes pro forma financial projections and details on minimum investment amounts and intended use of proceeds.
STATE FARM INSURANCE 2007 State Farm® Annual Reportfinance4
State Farm Mutual Automobile Insurance Company reduced auto insurance rates for the fourth straight year in 2007 despite higher vehicle operating costs. While underwriting profits dropped, improved investment income partly offset this. The company was also able to hold down operating expenses even while paying out $1.4 billion more in claims. Policies in force grew over 900,000 to nearly 42 million, and the company maintained its top financial strength rating from A.M. Best of A++.
Eo Presentation - CA Enterprise Tax Zones Benefitsmarkfriedler
Ideas on how to save money with CA state govt funds for your company. As of 2007, the SF Enterprise zone inlcudes the ENTIRE downtown business district
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
This document provides tax information for 2009, including federal tax rates and limits, retirement contribution limits, mileage rates, minimum wage rates, and state tax rates and limits for various regions in the United States. Key details include the FICA and Medicare tax rates and wage bases, 401k and IRA contribution limits up to $16,500 and $11,500 respectively, and the federal minimum wage increasing to $7.25 per hour in July 2009. State tax rates, unemployment insurance rates, and minimum wages are provided for multiple states in different regions.
Raytheon Reports 2004 Third Quarter Resultsfinance12
- Raytheon reported Q3 sales of $4.9 billion, up 12.7% from 2003, and earnings of $0.41 per share.
- Backlog reached a record $32.8 billion driven by strong bookings of $5.7 billion in Q3.
- Free cash flow for Q3 was $204 million including a $210 million payment for the settlement of a shareholder lawsuit.
- Guidance for 2004 was increased for GAAP EPS to $0.87-$0.92 and excludes the settlement payment.
Raytheon reported Q4 earnings. Key highlights included bookings of $5.5 billion, sales growth of 12% to $5.7 billion, and earnings per share of $0.54. Segment results were positive, with most experiencing sales growth in the high single digit to low double digit range compared to Q4 2003. For 2005, Raytheon expects bookings of $22.5-$23.5 billion, sales of $21.5-$22 billion, and GAAP EPS of $1.80-$1.90. Free cash flow is projected at $1.2-$1.4 billion.
Level Brands (NYSE American: LEVB) is an innovative brand management and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses. Level Brands owns and operates the nationally recognized consumer cannabidiol (CBD) brand cbdMD, whose current products include CBD gummies, CBD tinctures, CBD topical, CBD bath bombs, CBD oils, and CBD pet products. The Company's primary licensing and corporate brand management businesses target consumer products in the health and wellness space and other high-demand verticals, bringing innovative products to market under the kathy ireland® Health & Wellness; Ireland Men One (I'M1), and Encore Endeavor One (EE1) brands. Learn more at www.LEVBinfo.com.
This document provides disclaimers and information regarding an investment opportunity in Kut Auto Finance LLC, which aims to introduce integrity to subprime auto lending. It summarizes Kut's process of ethically refinancing predatory auto loans at lower rates to benefit customers financially and increase profits. The document includes pro forma financial projections and details on minimum investment amounts and intended use of proceeds.
STATE FARM INSURANCE 2007 State Farm® Annual Reportfinance4
State Farm Mutual Automobile Insurance Company reduced auto insurance rates for the fourth straight year in 2007 despite higher vehicle operating costs. While underwriting profits dropped, improved investment income partly offset this. The company was also able to hold down operating expenses even while paying out $1.4 billion more in claims. Policies in force grew over 900,000 to nearly 42 million, and the company maintained its top financial strength rating from A.M. Best of A++.
Eo Presentation - CA Enterprise Tax Zones Benefitsmarkfriedler
Ideas on how to save money with CA state govt funds for your company. As of 2007, the SF Enterprise zone inlcudes the ENTIRE downtown business district
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
- KBR announced third quarter 2007 results with net income of $63 million compared to $7 million in third quarter 2006. Income from continuing operations was $60 million compared to a $8 million loss in 2006.
- Revenue was $2.2 billion, flat compared to third quarter 2006. Operating income was $102 million compared to $66 million in 2006, helped by gains on asset sales and Iraq work.
- The company was awarded several new contracts totaling over $13 billion and backlog grew 25% over the quarter. Management was pleased with results and business reorganization.
Celanese Corporation reported record results in the first quarter of 2006, with net sales up 12% and operating profit up 26% compared to the same period last year. Diluted earnings per share were $0.68 compared to a loss of ($0.08) in 2005. The company reaffirmed its guidance for adjusted earnings per share of between $2.50-$2.90 for 2006.
allstate Quarterly Investor Information 2003 2nd finance7
Allstate reported strong financial results for the second quarter of 2003, with net income increasing 70.9% compared to the second quarter of 2002. Operating income increased 32.2% driven by an improvement in Property-Liability Underwriting income. However, catastrophe losses also increased significantly. Overall results were positively impacted by higher premiums, continued improvement in auto and homeowners claim frequencies, and lower prior year reserve strengthening, despite higher catastrophes. Allstate increased its full year 2003 operating income guidance.
This document discusses combining qualified pension plans to maximize tax-deductible contributions for business owners. It describes how a combined qualified plan can include components like a 401(k), profit sharing plan, pension plan, and aggregated benefit to allow total contributions of up to $300,000-$450,000 for owners aged 60-65. The document provides an example of allocations for owners and employees under a combined qualified plan design. It aims to educate advisors on these types of complex retirement plans to help clients grow and protect their assets in a tax-advantaged manner.
The document summarizes a webinar for natural resources companies dealing with challenges from the COVID-19 pandemic. It discusses various options for addressing liquidity issues, the Paycheck Protection Program and other relief options in the CARES Act, potential reorganization and bankruptcy issues, and compliance considerations. Presenters provided contact information and emphasized that the situation is changing rapidly and companies should consult legal counsel.
The Walt Disney Company reported its earnings for the fiscal year and quarter ended September 30, 2002. For the fiscal year, revenues increased 1% to $25.3 billion but segment operating income decreased 28% to $2.9 billion. Net income increased 48% to $1.3 billion compared to the prior year which included large restructuring charges. On a pro forma basis, which excludes certain one-time items, revenues decreased 1% to $25.4 billion and earnings were $1.1 billion or $0.55 per share. For the quarter, revenues increased 15% to $6.7 billion while operating income decreased 2% to $613 million. Disney anticipated a return to solid earnings per share growth
Raytheon reported strong financial results for the second quarter of 2006, with earnings per share up 35% and sales up 6%. The company increased its full-year guidance for earnings per share, operating cash flow, and return on invested capital. Raytheon also announced its intention to explore strategic alternatives for its Raytheon Aircraft Company business unit, including a potential sale. Segment results were positive across most business units, with higher sales, bookings, and operating income compared to the second quarter of 2005.
This is Part 2 of a slide deck was presented by the University of Illinois Tax School in conjunction with a textbook entitled Limited Liability Companies: Electing Partnership vs. S Corporation Status. The presentation gives good background on various LLC topics (such as LLC formation, LLC operations, Distributions of an LLC, Sale of a Member Interest, Withdrawal of a Member, and Death of a Member). The textbook itself can be purchased at https://taxschool.illinois.edu/.
- Rossi Residencial is a Brazilian real estate developer focused on residential properties. It has been operating since 1980 and went public in 1999.
- The presentation provides an overview of Rossi's historical background, business model, track record, competitive advantages, and financial performance.
- Key details include Rossi's expansion through new regional offices, product lines focused on different income segments, and its adherence to high corporate governance standards.
Cat Financial reported record revenues of $2.998 billion for 2007, up 9% from 2006. Profits were also up, with profit after tax reaching a record $494 million, a 4% increase over 2006. New retail financing reached a record $14.07 billion, up 16% from 2006. However, past dues over 30 days rose to 2.36% due to weakness in the US housing market, though write-offs remained low by historical standards. The company delivered strong results despite challenges in credit markets and housing.
This document provides an annual report for Marshall & Ilsley Corporation for the year 2002. It summarizes the company's financial performance including operating income, net income, earnings per share, returns, and other financial metrics. It discusses the company's continued growth through acquisitions and expansion into new markets. It highlights how the company served its customers through challenging economic times with a focus on quality service and products.
Update to Maryland CPA Firms covering the latest developments & issues facing CPA Firms. This meeting covered the special session and 2012 session of the Maryland General Assembly and updates on other issues like generations, leadership & success planning, talent, and technology. Put on by the Maryland Association of CPAs
Raytheon reported strong financial results for Q3 2006, with EPS up 41% and bookings of $6.1 billion. The company increased full-year 2006 guidance for EPS, bookings, operating cash flow and ROIC. Segments such as IDS, MS and RAC saw higher sales and improved operating performance compared to Q3 2005. Raytheon also provided initial guidance for 2007 with projected continued growth.
Lamar Van Dusen is explaining about the Co-Ownership of Property. He is an accounting professional at Phoenix Management and providing Accounting & Financial Services.
Black & Decker reported first quarter 2007 earnings of $1.61 per diluted share, up from $1.45 per diluted share in the first quarter of 2006. Sales increased 3% to a record $1.6 billion due to acquisitions and foreign currency translation. Free cash flow also increased to a record $137 million for the quarter, up more than $115 million from the prior year. The company modestly increased its full-year earnings per share guidance to $6.35 to $6.60 per share and expects roughly flat sales and earnings per share of $1.70 to $1.75 in the second quarter.
The document is an investment memorandum for the $100 million U.S. Real Estate Opportunity Fund focused on the western region. The Fund will acquire a portfolio of commercial real estate assets in major western cities, reposition them as a private REIT, and over 5 years either take the REIT public or sell the portfolio, targeting a 210% cash-on-cash return. Financial forecasts estimate acquiring $315 million in properties, growing the portfolio value to $458 million, for a 15.5% internal rate of return.
Rethinking Executive Compensation While Awaiting Section 162(m) GuidanceFulcrum Partners LLC
This whitepaper report has been prepared by: Bruce Brownell, CFP, Founder and Managing Director Fulcrum Partners; G. Scott Cahill, CLU, Founder and Managing Director Fulcrum Partners; Joan Vines, Managing Director, National Tax - Compensation and Benefits, BDO; Carl Toppin, Managing Director Compensation and Benefits, BDO; Andrew Gibson, Regional Managing Partner - Tax Services BDO; and Peter Klinger, Partner, Compensation & Benefits, BDO.
Duke Energy reported first quarter 2007 diluted EPS of $0.28 compared to $0.37 in first quarter 2006. Ongoing diluted EPS increased to $0.30 in first quarter 2007 from $0.21 in first quarter 2006, driven by additions from the Cinergy merger and improvements at International Energy, partially offset by lower results at Crescent. Special items reduced EPS by $0.03 in first quarter 2007 and included costs associated with the Cinergy merger. Discontinued operations reduced EPS by $0.01 in first quarter 2007 and $0.16 in first quarter 2006.
Proactive Year-end Financial and Tax Planning StrategiesAICPA
In the third webcast in the AICPA Insights Live webcast series, Beth Gamel, CPA/PFS, Robert S. Keebler, CPA, Ted Sarenski, CPA/PFS and Scott Sprinkle, CPA/PFS, CGMA came together to discuss year-end financial and tax planning strategies, specifically to address the American Taxpayer Relief Act and the Net Investment Income Tax. Below you can find an audio recording from the webcast, as well as the accompanying presentation. Be sure to explore the other webcasts in the AICPA Insights Live webcast series.
The document discusses key tax considerations for different business entity structures including LLCs, S corporations, and C corporations. It covers taxation of income and losses, liability for entity debts, limits on number and type of owners, deductibility of fringe benefits, and state franchise taxes. Special topics like QSBS, foreign ownership, and equity awards are also addressed at a high level. The document provides an overview comparison of entity structures across these various tax-related factors.
The document provides an update on S corporation issues and common problems. It discusses changes to built-in gains tax holding periods under the Small Business Jobs Act and user fees for requesting an S election waiver. It also summarizes common S corporation issues like reasonable compensation, loans from shareholders, health insurance deductions for 2% shareholders, and basis calculations.
- KBR announced third quarter 2007 results with net income of $63 million compared to $7 million in third quarter 2006. Income from continuing operations was $60 million compared to a $8 million loss in 2006.
- Revenue was $2.2 billion, flat compared to third quarter 2006. Operating income was $102 million compared to $66 million in 2006, helped by gains on asset sales and Iraq work.
- The company was awarded several new contracts totaling over $13 billion and backlog grew 25% over the quarter. Management was pleased with results and business reorganization.
Celanese Corporation reported record results in the first quarter of 2006, with net sales up 12% and operating profit up 26% compared to the same period last year. Diluted earnings per share were $0.68 compared to a loss of ($0.08) in 2005. The company reaffirmed its guidance for adjusted earnings per share of between $2.50-$2.90 for 2006.
allstate Quarterly Investor Information 2003 2nd finance7
Allstate reported strong financial results for the second quarter of 2003, with net income increasing 70.9% compared to the second quarter of 2002. Operating income increased 32.2% driven by an improvement in Property-Liability Underwriting income. However, catastrophe losses also increased significantly. Overall results were positively impacted by higher premiums, continued improvement in auto and homeowners claim frequencies, and lower prior year reserve strengthening, despite higher catastrophes. Allstate increased its full year 2003 operating income guidance.
This document discusses combining qualified pension plans to maximize tax-deductible contributions for business owners. It describes how a combined qualified plan can include components like a 401(k), profit sharing plan, pension plan, and aggregated benefit to allow total contributions of up to $300,000-$450,000 for owners aged 60-65. The document provides an example of allocations for owners and employees under a combined qualified plan design. It aims to educate advisors on these types of complex retirement plans to help clients grow and protect their assets in a tax-advantaged manner.
The document summarizes a webinar for natural resources companies dealing with challenges from the COVID-19 pandemic. It discusses various options for addressing liquidity issues, the Paycheck Protection Program and other relief options in the CARES Act, potential reorganization and bankruptcy issues, and compliance considerations. Presenters provided contact information and emphasized that the situation is changing rapidly and companies should consult legal counsel.
The Walt Disney Company reported its earnings for the fiscal year and quarter ended September 30, 2002. For the fiscal year, revenues increased 1% to $25.3 billion but segment operating income decreased 28% to $2.9 billion. Net income increased 48% to $1.3 billion compared to the prior year which included large restructuring charges. On a pro forma basis, which excludes certain one-time items, revenues decreased 1% to $25.4 billion and earnings were $1.1 billion or $0.55 per share. For the quarter, revenues increased 15% to $6.7 billion while operating income decreased 2% to $613 million. Disney anticipated a return to solid earnings per share growth
Raytheon reported strong financial results for the second quarter of 2006, with earnings per share up 35% and sales up 6%. The company increased its full-year guidance for earnings per share, operating cash flow, and return on invested capital. Raytheon also announced its intention to explore strategic alternatives for its Raytheon Aircraft Company business unit, including a potential sale. Segment results were positive across most business units, with higher sales, bookings, and operating income compared to the second quarter of 2005.
This is Part 2 of a slide deck was presented by the University of Illinois Tax School in conjunction with a textbook entitled Limited Liability Companies: Electing Partnership vs. S Corporation Status. The presentation gives good background on various LLC topics (such as LLC formation, LLC operations, Distributions of an LLC, Sale of a Member Interest, Withdrawal of a Member, and Death of a Member). The textbook itself can be purchased at https://taxschool.illinois.edu/.
- Rossi Residencial is a Brazilian real estate developer focused on residential properties. It has been operating since 1980 and went public in 1999.
- The presentation provides an overview of Rossi's historical background, business model, track record, competitive advantages, and financial performance.
- Key details include Rossi's expansion through new regional offices, product lines focused on different income segments, and its adherence to high corporate governance standards.
Cat Financial reported record revenues of $2.998 billion for 2007, up 9% from 2006. Profits were also up, with profit after tax reaching a record $494 million, a 4% increase over 2006. New retail financing reached a record $14.07 billion, up 16% from 2006. However, past dues over 30 days rose to 2.36% due to weakness in the US housing market, though write-offs remained low by historical standards. The company delivered strong results despite challenges in credit markets and housing.
This document provides an annual report for Marshall & Ilsley Corporation for the year 2002. It summarizes the company's financial performance including operating income, net income, earnings per share, returns, and other financial metrics. It discusses the company's continued growth through acquisitions and expansion into new markets. It highlights how the company served its customers through challenging economic times with a focus on quality service and products.
Update to Maryland CPA Firms covering the latest developments & issues facing CPA Firms. This meeting covered the special session and 2012 session of the Maryland General Assembly and updates on other issues like generations, leadership & success planning, talent, and technology. Put on by the Maryland Association of CPAs
Raytheon reported strong financial results for Q3 2006, with EPS up 41% and bookings of $6.1 billion. The company increased full-year 2006 guidance for EPS, bookings, operating cash flow and ROIC. Segments such as IDS, MS and RAC saw higher sales and improved operating performance compared to Q3 2005. Raytheon also provided initial guidance for 2007 with projected continued growth.
Lamar Van Dusen is explaining about the Co-Ownership of Property. He is an accounting professional at Phoenix Management and providing Accounting & Financial Services.
Black & Decker reported first quarter 2007 earnings of $1.61 per diluted share, up from $1.45 per diluted share in the first quarter of 2006. Sales increased 3% to a record $1.6 billion due to acquisitions and foreign currency translation. Free cash flow also increased to a record $137 million for the quarter, up more than $115 million from the prior year. The company modestly increased its full-year earnings per share guidance to $6.35 to $6.60 per share and expects roughly flat sales and earnings per share of $1.70 to $1.75 in the second quarter.
The document is an investment memorandum for the $100 million U.S. Real Estate Opportunity Fund focused on the western region. The Fund will acquire a portfolio of commercial real estate assets in major western cities, reposition them as a private REIT, and over 5 years either take the REIT public or sell the portfolio, targeting a 210% cash-on-cash return. Financial forecasts estimate acquiring $315 million in properties, growing the portfolio value to $458 million, for a 15.5% internal rate of return.
Rethinking Executive Compensation While Awaiting Section 162(m) GuidanceFulcrum Partners LLC
This whitepaper report has been prepared by: Bruce Brownell, CFP, Founder and Managing Director Fulcrum Partners; G. Scott Cahill, CLU, Founder and Managing Director Fulcrum Partners; Joan Vines, Managing Director, National Tax - Compensation and Benefits, BDO; Carl Toppin, Managing Director Compensation and Benefits, BDO; Andrew Gibson, Regional Managing Partner - Tax Services BDO; and Peter Klinger, Partner, Compensation & Benefits, BDO.
Duke Energy reported first quarter 2007 diluted EPS of $0.28 compared to $0.37 in first quarter 2006. Ongoing diluted EPS increased to $0.30 in first quarter 2007 from $0.21 in first quarter 2006, driven by additions from the Cinergy merger and improvements at International Energy, partially offset by lower results at Crescent. Special items reduced EPS by $0.03 in first quarter 2007 and included costs associated with the Cinergy merger. Discontinued operations reduced EPS by $0.01 in first quarter 2007 and $0.16 in first quarter 2006.
Proactive Year-end Financial and Tax Planning StrategiesAICPA
In the third webcast in the AICPA Insights Live webcast series, Beth Gamel, CPA/PFS, Robert S. Keebler, CPA, Ted Sarenski, CPA/PFS and Scott Sprinkle, CPA/PFS, CGMA came together to discuss year-end financial and tax planning strategies, specifically to address the American Taxpayer Relief Act and the Net Investment Income Tax. Below you can find an audio recording from the webcast, as well as the accompanying presentation. Be sure to explore the other webcasts in the AICPA Insights Live webcast series.
The document discusses key tax considerations for different business entity structures including LLCs, S corporations, and C corporations. It covers taxation of income and losses, liability for entity debts, limits on number and type of owners, deductibility of fringe benefits, and state franchise taxes. Special topics like QSBS, foreign ownership, and equity awards are also addressed at a high level. The document provides an overview comparison of entity structures across these various tax-related factors.
The document provides an update on S corporation issues and common problems. It discusses changes to built-in gains tax holding periods under the Small Business Jobs Act and user fees for requesting an S election waiver. It also summarizes common S corporation issues like reasonable compensation, loans from shareholders, health insurance deductions for 2% shareholders, and basis calculations.
2016 Wolfe Research Power & Gas Leaders ConferenceAES_BigSky
- The AES Corporation is an energy company led by Tom O'Flynn, Executive Vice President & CFO.
- The presentation contains forward-looking statements and discusses AES' business strategy, financial projections, and growth expectations through 2021.
- AES expects double-digit growth in free cash flow and earnings driven by $7.8 billion in construction projects under way that will come online between now and 2021.
The document provides an update on estate planning topics including proposed changes to inheritance of retirement plan benefits, the Uniform Trust Code in Minnesota, portability, proposed federal legislation for fiscal year 2012, drafting for the qualified small business deduction, and planning for income tax basis step-up in bypass trusts. Key points covered include possible changes to required minimum distributions for inherited retirement plans, the requirements and advantages of portability, and new rules for the Minnesota qualified small business property deduction.
The document summarizes a presentation given to Georgia Power employees about Roth 401(k) retirement plans. It discusses what a Roth 401(k) is, contribution limits, factors to consider when deciding between pre-tax and Roth contributions, how distributions are taxed, employer matching, and converting traditional retirement funds to Roth status. The presentation was given by The Signature Financial Group, an independent financial advisory firm, and notes that Raymond James is both their employer and partner.
A Charitable Remainder Trust is a split interest trust consisting of an income interest, which is paid to the donor or other beneficiary during the term of the trust, and a remainder interest, which is paid to the designated charity. The purpose of this strategy is to harbor net investment income in a tax-exempt environment while leveling income over a longer period of time to keep MAGI below the threshold amount. CRTs are especially useful when there is a large capital gain that pushes income above the threshold amount.
Startup Law 101:How to Avoid Legal Pitfalls that Could Doom Your Startupideatoipo
Presented 12/28/2023
Join us for a presentation of the legal issues that startups and their founders need to know and the common legal pitfalls that affect startup companies. Unlike more mature companies, startups typically do not have large legal budgets and in house legal counsel focused on legal compliance. Nevertheless, startups must be aware of and comply with law, especially with respect to the issues that are unique to startups.
The presentation will cover those unique issues as well as the sometimes surprising and every evolving California rules. In particular, we will summarize:
1. Corporate formation and choice of entity and law;
2. Securities laws;
3. Labor and employment and why virtually evert startup in California is probably out of compliance and what you can do about it;
4. Intellectual property strategies using patent, trademark and trade secret;
5. Protecting your business through agreements;
6. Protecting the founders from personal liability;
7. And more.
The speaker will draw on more than 30 years of startup experience in describing how to manage legal risk on a startup budget.
About the Speaker
Roger Royse is a partner in the Palo Alto office of Haynes and Boone, LLP and practices in the areas of corporate and securities law, tax, and mergers and acquisitions. He works with companies ranging from newly formed tech startups to publicly traded multinationals in a variety of industries. Roger is a Fellow of the American College of Tax Counsel and former chair of several committees of the American Bar Association Sections of Business Law and Taxation. Roger has been an instructor or professor of legal, tax and business topics for the Center for International Studies (Salzburg, Austria), Golden Gate University School of Law and Stanford Continuing Studies. Roger is a nationally recognized authority on agtech – the technology of food production - and the legal considerations for companies in this industry. Roger is also the author of 10,000 Startups: Legal Strategies for Startup Success and Dead on Arrival: How to Avoid the Legal Mistakes That Could Kill Your Startup and has been interviewed and quoted in the Wall Street Journal, Forbes, Fox Business, Chicago Tribune, Associated Press, Tax Notes, Inc. Magazine, Nikkei Asian Review, China Daily, San Francisco Chronicle, Reuters, The Recorder, 7X7, Business Insurance, ABA Journal, Thrive Global and Fast Company.
9.22.20 Startups in a Down Economy Legal, Business, and Financing strategiesideatoipo
This document provides an overview and summary of legal, business, and financing strategies for startups in a down economy. It discusses planning for downturns, available federal aid programs like PPP loans and tax credits, debt restructuring options, force majeure clauses, business interruption insurance, fraudulent transfer laws, and bankruptcy considerations. The presentation aims to help startups navigate legal and business challenges that may arise during an economic downturn.
This document provides an overview of tax strategies for angel investors and early stage companies in Canada. It discusses key terms like Canadian-controlled private corporations and small business corporations. It outlines the advantages of being a CCPC, including tax credits and capital gains exemptions. The document also discusses structuring investments as debt versus equity, considerations for US investors, and maximizing benefits from Canada's Scientific Research & Experimental Development program.
Choosing a retirement plan for your business 2013giannem1
Discusses various types of retirement plans you may wish to consider for your business. There are a variety of retirement plans available for small businesses, each with their own nuances.
Contact me to discuss which one makes sense for your business.
Startup Law 101 How to Avoid Legal Pitfalls that Could Doom Your Startup.pptxRoger Royse
A presentation of the legal issues that startups and their founders need to know and the common legal pitfalls that affect startup companies. Unlike more mature companies, startups typically do not have large legal budgets and in house legal counsel focused on legal compliance. Nevertheless, startups must be aware of and comply with law, especially with respect to the issues that are unique to startups.
The presentation covers those unique issues as well as the sometimes surprising and every evolving California rules. In particular, we summarize:
Corporate formation and choice of entity and law;
Securities laws;
Labor and employment and why virtually evert startup in California is probably out of compliance and what you can do about it;
Intellectual property strategies using patent, trademark and trade secret;
Protecting your business through agreements;
Protecting the founders from personal liability;
And more.
The speaker will draw on more than 30 years of startup experience in describing how to manage legal risk on a startup budget.
Respiratory System Case StudyTrudy, a home health respirator.docxaudeleypearl
Respiratory System Case Study
Trudy, a home health respiratory therapist, especially enjoys her older patients, and her Tuesday morning patient is one of her favorites. Jonas Hershel, a 79-year-old former respiratory therapist himself, has been hospitalized over the weekend for extreme difficulty with breathing from emphysema. Jonas' physical examination has noted crackles, clubbing, and DOE. Blood gases reveal hypoxemia and hypercapnia. Jonas' emphysema has now progressed to COPD.
After being stabilized, Jonas has been released to his home with home health care visits. Trudy has treated Jonas in the hospital and is now his home health care professional. Tracking Jonas' breathing capacity using spirometry is part of her duties. However, today Jonas is too tired to sit up; therefore Trudy performs the spirometry while Jonas is reclining.
1. Give another name for crackles and define it.
2. What does spirometry measure?
3. Define emphysema. What is destroyed in emphysema?
4. What do the terms hypoxemia and hypercapnia stand for?
5. What do the abbreviations DOE and COPD stand for? Define and explain.
Beacon Roofing Supply Inc.'s Proposed $300 Million
Senior Secured Notes Rated 'BB', Unsecured Notes
Lowered to 'B-'
September 25, 2019
FARMERS BRANCH (S&P Global Ratings) Sept. 25, 2019--S&P Global Ratings assigned its 'BB'
issue-level rating and '1' recovery rating to Beacon Roofing Supply Inc.'s proposed $300 million
senior secured notes issuance. The proposed senior secured notes will rank equally with the
company's $970 million term loan, which is unchanged and carries a 'BB' issue-level rating, with a
'1' recovery rating. Beacon plans to use the proceeds from the notes offering to pre-fund the
company's redemption of its $300 million senior unsecured notes due 2023 on Oct. 1, 2019.
However, the increased amount of senior secured debt will result in diminished recovery available
to unsecured lenders. As a result, we have lowered the issue-level rating on Beacon's $1.3 billion
senior unsecured notes due 2025 to 'B-' from 'B' and revised the recovery rating to '6' from '5'.
The '1' recovery rating on the Beacon's secured debt indicates our expectation for very high
(90%-100%; rounded estimate: 90%) recovery in a default scenario. Our '6' recovery rating on the
unsecured notes reflects our expectation of negligible recovery (0%-10%; rounded estimate: 0%)
in the event of a default.
For more information on Beacon Roofing Supply Inc., see our research update published on Aug.
30, 2019.
Key analytical factors
- Our assessment of recovery prospects contemplates a reorganization value for the company of
about $2.07 billion, reflecting emergence EBITDA of about $345 million and a 6x multiple. Our
emergence EBITDA assumption contemplates a rebound in profitability following the sharp
cyclical downturn that we believe is required for the company to default with the present
capital structure. As a result, our EBITDA assumption does not purport t ...
Respiratory System Case StudyTrudy, a home health respirator.docxpeggyd2
Respiratory System Case Study
Trudy, a home health respiratory therapist, especially enjoys her older patients, and her Tuesday morning patient is one of her favorites. Jonas Hershel, a 79-year-old former respiratory therapist himself, has been hospitalized over the weekend for extreme difficulty with breathing from emphysema. Jonas' physical examination has noted crackles, clubbing, and DOE. Blood gases reveal hypoxemia and hypercapnia. Jonas' emphysema has now progressed to COPD.
After being stabilized, Jonas has been released to his home with home health care visits. Trudy has treated Jonas in the hospital and is now his home health care professional. Tracking Jonas' breathing capacity using spirometry is part of her duties. However, today Jonas is too tired to sit up; therefore Trudy performs the spirometry while Jonas is reclining.
1. Give another name for crackles and define it.
2. What does spirometry measure?
3. Define emphysema. What is destroyed in emphysema?
4. What do the terms hypoxemia and hypercapnia stand for?
5. What do the abbreviations DOE and COPD stand for? Define and explain.
Beacon Roofing Supply Inc.'s Proposed $300 Million
Senior Secured Notes Rated 'BB', Unsecured Notes
Lowered to 'B-'
September 25, 2019
FARMERS BRANCH (S&P Global Ratings) Sept. 25, 2019--S&P Global Ratings assigned its 'BB'
issue-level rating and '1' recovery rating to Beacon Roofing Supply Inc.'s proposed $300 million
senior secured notes issuance. The proposed senior secured notes will rank equally with the
company's $970 million term loan, which is unchanged and carries a 'BB' issue-level rating, with a
'1' recovery rating. Beacon plans to use the proceeds from the notes offering to pre-fund the
company's redemption of its $300 million senior unsecured notes due 2023 on Oct. 1, 2019.
However, the increased amount of senior secured debt will result in diminished recovery available
to unsecured lenders. As a result, we have lowered the issue-level rating on Beacon's $1.3 billion
senior unsecured notes due 2025 to 'B-' from 'B' and revised the recovery rating to '6' from '5'.
The '1' recovery rating on the Beacon's secured debt indicates our expectation for very high
(90%-100%; rounded estimate: 90%) recovery in a default scenario. Our '6' recovery rating on the
unsecured notes reflects our expectation of negligible recovery (0%-10%; rounded estimate: 0%)
in the event of a default.
For more information on Beacon Roofing Supply Inc., see our research update published on Aug.
30, 2019.
Key analytical factors
- Our assessment of recovery prospects contemplates a reorganization value for the company of
about $2.07 billion, reflecting emergence EBITDA of about $345 million and a 6x multiple. Our
emergence EBITDA assumption contemplates a rebound in profitability following the sharp
cyclical downturn that we believe is required for the company to default with the present
capital structure. As a result, our EBITDA assumption does not purport t.
The election is over - now what? We recently held free tax planning and preparation seminars discussing the tax consequences of the 2012 election.
The seminar featured Steven Hartstein, CPA, JD - Partner, and Jenna Staton, EA - Manager, and covered several topics including:
•Year end tax planning for individuals and businesses
•Year end tax planning using the estate and gift tax laws for 2012
•2013 tax law if no changes are made
•What the future holds based upon post-election Congress
If you have questions, please feel free to contact our Tax Planning & Preparation Group at 440-449-6800.
The document discusses Slater and Gordon, a leading law firm that floated on the stock market in 2007. It analyzes the firm's financial performance and accounting policies related to revenue recognition under IAS 18 and the newly adopted IFRS 15. Key points:
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This document provides an estate planning update for 2011-2012. It discusses potential changes to the minimum distribution rules for inherited retirement plan benefits. It also covers proposals for the Uniform Trust Code in Minnesota, the estate tax exemption amount and portability, and proposed legislation for fiscal year 2012. The document provides details on drafting trusts to take advantage of the new qualified small business and farming deduction in Minnesota.
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This document provides an estate planning update for 2011-2012. It discusses possible changes to minimum distribution rules for inherited retirement plan benefits. It also covers proposals for the Uniform Trust Code in Minnesota, the estate tax exemption amount and portability, and proposed federal legislation for fiscal year 2012. The document provides details on drafting trusts to take advantage of the qualified small business and farming deduction under Minnesota law.
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Gordon B Lang - The Truths and Myths of Retirement Compensation Arrangements and Individual Pension Plans
1. The Truths and Myths of
Retirement Compensation
Arrangements
and Individual Pension Plans
Presentation to
ESTATE PLANNING COUNCIL OF ABBOTSFORD
October 19, 2005
3. Gordon B. Lang & Associates
Inc. Actuaries & Consultants
FOUNDED JUNE 1995
PRESIDENT & C.E.O. GORDON B. LANG
FELLOW OF THE FACULTY OF
ACTUARIES IN SCOTLAND (1967)
FELLOW OF THE CANADIAN
INSTITUTE OF ACTUARIES (1967)
ASSOCIATE OF THE SOCIETY OF
ACTUARIES (1976)
FELLOW OF THE CONFERENCE
OF
CONSULTING ACTUARIES (2005)
Gordon B. Lang & Associates Inc.
4. Gordon B. Lang & Associates
Inc. Actuaries & Consultants
OFFICES VANCOUVER,PRINCE GEORGE,
CALGARY, EDMONTON,
LETHBRIDGE, TORONTO,
OTTAWA, MONTREAL
AND HALIFAX
EMPLOYEES 26
Gordon B. Lang & Associates Inc.
5. Gordon B. Lang & Associates
Inc. Actuaries & Consultants
SPECIALIZATION PRODUCTS DEVELOPED FOR:
PROFESSIONALS WITH PROFESSIONAL
CORPORATIONS
OWNERS OF PRIVATE COMPANIES
SENIOR EXECUTIVES OF LARGER PRIVATE &
PUBLIC COMPANIES
Gordon B. Lang & Associates Inc.
6. Gordon B. Lang & Associates
Inc. Actuaries & Consultants
SPECIALITY PRODUCTS
-EMPLOYEE PROFIT SHARING PLAN (EPSP)
-HEALTH & WELFARE TRUST (HAWT)
-INDIVIDUAL PENSION PLAN (IPP)
-RETIREMENT COMPENSATION ARRANGEMENT
(RCA)
Gordon B. Lang & Associates Inc.
7. RCA Overview
Tax deferment vehicle
Defined in the Income Tax Act
Provides asset protection
For Owners and their Families, Key
Employees, Executives and
Professionals with PC’s
Most suitable for high income earners
Gordon B. Lang & Associates Inc.
8. RCA - Overview
Defined in Section 248(1) of Income
Tax Act (Canada)
Employer & Employee contributions tax
deductible
Benefits taxable when received
50% of contribution remitted to CRA
Refundable Tax Account (RTA)
Gordon B. Lang & Associates Inc.
9. RCA - Overview
Each Year 50% of Net Amount of:
Taxable investment income
Less expenses
Less benefit payments
Remitted or Refunded
Excludes Unrealized Capital Gains
Excludes Investment Income from
Qualified Life Insurance
Gordon B. Lang & Associates Inc.
10. RCA - Details
Contributions
Employer
Employee Contributions
- Required by the Company
- Not Greater then Employer contribution for
calendar year
- Source contributions not subject to withholdings
- May be made by cheque to Employer
- May be made from Bonus -
carryback deductions to Employer.
- Included in calculation of Eligible Earnings Base.
Gordon B. Lang & Associates Inc.
11. RCA - Details
Advantage of Holding Insurance Policy Assets
- Split dollar Life Insurance Policy Premiums &
Benefits
- Company owns Pure Life Insurance
- Trust owns Savings Portion
- On death of Insured No RTA transfer of
proceeds
- Unbalanced RCA available to Survivors
- New Policy then purchased on Surviving
Member(s)
Gordon B. Lang & Associates Inc.
12. RCA - Details
Add Spouse and Adult Children
- Increases Deductibility
- Permits Income Splitting
- No requirement for owner to take benefits
- Spouse would take over benefit rights
on death
- Benefits may be passed down to Children
(even Grandchildren)
- No 21 year Trust Rule
Gordon B. Lang & Associates Inc.
13. RCA Allowable Contributions
Contributions producing Annual
Retirement Income up to 2% of Best
Three Years Average Earnings per year
of Eligible Service
Actuarial Certificate required for CRA
reasonability test
Gordon B. Lang & Associates Inc.
14. RCA Allowable Contributions
Company Owner aged 60
15 years since Company Established
Best 3 years Average Earnings $500,000
Retirement Age 65
Maximum 2005 RCA Contribution $3,117,900
Additional Deductibility
2006 $205,700
2007 213,400
2008 221,400
2009 229,700
Total over 5 years $3,998,100
Gordon B. Lang & Associates Inc.
15. RCA – Closely Held Companies
Objectives:
Defer taxes into lower rates
Protect Assets from Creditors through
trusteed arrangements
Future Company growth funded through
leveraging
Gordon B. Lang & Associates Inc.
16. RCA - Closely Held Companies
For Owners, Professionals & Key Employees
Employer sets Contributions
Suitable Investments:
Universal Life Insurance Policies
ETF’s or Indexed Funds
Equity Funds
Canadian & Foreign Blue Chip Stocks
Buy & Hold Management Style – Low or No distribution
Gordon B. Lang & Associates Inc.
17. RCA – Establishment
Board Resolutions
Trust Deed & Plan Text
Trustees
3 individuals (1 separate from Employer)
Trust Company
CRA Registration
Gordon B. Lang & Associates Inc.
18. RCA – Establishment
RCA Account Number
Annual Trustee Return
Part XI.3 Return
Prepared by Accountant or GBL Inc.
T737 Return For Contributions
Gordon B. Lang & Associates Inc.
19. RCA - Tax Deferment into Lower Rates
Beneficiary Can:
Move to lower-taxed province
Defer income when tax rates are declining
Leave Canada -benefits taxed pursuant to Tax
Treaty
USA – 15% Installment Payments, 25% Lump Sum
Canadian Withholding credited against U.S. Federal Tax.
U.S. Taxes at Marginal Tax Rates
Ireland – 15% for installment payments
Australia and New Zealand – 15% for both lump sums
and installment payments
Most others Treaties – 15% on installment payments and
25% on lump sums
Gordon B. Lang & Associates Inc.
20. U.S./Canada Tax Treaty
Implications
Tax Treatment
Employer Contributions
In U.S. -are included in income of
Employee and are deductible to Company
In Canada - there is no employee income
inclusion
Gordon B. Lang & Associates Inc.
21. U.S./Canada Tax Treaty
Implications
Employee Contributions
In U.S. - are included in income of Employee
In Canada - are deductible by Employee
Gordon B. Lang & Associates Inc.
22. U.S./Canada Tax Treaty
Implications
RCA Investment Income
U.S. – Unless IRS forms completed, is included in
income of Employee
Canada - no Employee income inclusion
Gordon B. Lang & Associates Inc.
23. U.S./Canada Tax Treaty
Implications
Taxation of Benefits if Employee U.S.
Resident no longer subject to
Canadian Tax
In U.S. - no tax on benefits. Canadian Withholding
Tax reduces U.S. Federal Tax
In Canada - 15% Withholding Tax on installment
payments, 25% on lump sum payments
Gordon B. Lang & Associates Inc.
24. U.S./Canada Tax Treaty
Implications
Net Impact on RCA
Canadian Income Tax reduced when
Resident of Canada
Reduced Tax Payable on RCA Proceeds if
U.S. Resident
Gordon B. Lang & Associates Inc.
25. The Leveraged RCA – Example
XYZ Corporation establishes an RCA with a
first contribution of $ 1.1 million.
$550,000 invested by Trustees
$550,000 in Refundable Tax account (RTA)
Financial Institution lends $1,000,000 to
Investco. XYZ Corporation takes out
insurance on Mr. Smith for amount of the
loan.
Gordon B. Lang & Associates Inc.
26. The Leveraged RCA Example
XYZ Corporation
TAX SAVINGS ON RCA
CONTRIBUTION OF (35.6%) $391,600
less RCA CONTRIBUTION FROM
P.C. (100,000)
less Expenses (40,000)
NET ADDITIONAL AVAILABLE
FUNDS FOR INVESTMENT $251,600
Gordon B. Lang & Associates Inc.
27. RCA Lenders
Bank of Montreal
Royal Bank
TD Bank
CIBC
National Bank
HSBC
Manulife Bank
AIG Finance
Gordon B. Lang & Associates Inc.
28. Leveraged RCA
GBL & Associates Inc. has established
strategic relationships with certain law
firms to provide comprehensive
actuarial and legal documentation to
establish this Leveraged RCA structure.
Gordon B. Lang & Associates Inc.
29. RCA – Summary
Tax Deferral Vehicle
Greater security through Trusteed
Arrangement
For Owners, Key Employees,
Executives and Professionals
Gordon B. Lang & Associates Inc.
32. Outline
Individual Pension Plan (IPP)
Retirement Compensation Arrangement
(RCA)
Questions
Gordon B. Lang & Associates Inc.
33. IPP Features
Registered Pension Plan
Limited to Participant, Spouse and
adult children
Same contribution limits as Defined
Benefit Registered Pension Plans
Designed to maximize contributions
permitted by CRA
Gordon B. Lang & Associates Inc.
34. IPP Contributions
Contributions by employer (and
employee) tax deductible
Benefits taxed when received
Investment income tax exempt
Gordon B. Lang & Associates Inc.
35. IPP Maximum Allowable
Contributions
Post February 2005 Federal Budget
Amounts certified by actuary to fund defined benefits*
Samples of maximum year 2005 tax deductibility:
Age in 2005 Past Service from Current Service
1.1.91**
35 $20,700 $16,300
40 $42,300 $17,900
45 $66,100 $19,700
50 $92,200 $21,600
55 $120,900 $23,700
60 $152,400 $26,100
65 $192,400 $29,000
* Based on Maximum Earnings updated to 2006 of $100,000 per annum
** Subject to RRSP transfer of $199,200
March 2005
36. IPP – Closely Held Companies
Greater tax deductible contributions than
RRSP’s
More funding for retirement
Creditor protection
Multiple plans for individuals with T4 income
from several unrelated sources
Investments fairly similar to those for RRSP’s
Gordon B. Lang & Associates Inc.
37. IPP Advantages
Greater tax deductible contributions
Creditor protection
Expenses tax deductible
Plan surplus belongs to Participants
Investment returns balanced by
contributions
Gordon B. Lang & Associates Inc.
38. IPP Advantages
No need to wind up plan on retirement
Spouse and adult children may be
Participants
Additional lump sum contributions available
immediately before retirement
CPP/OAS Bridging benefit to age 65
Unreduced pension @ 60 with 3%/yr reduction to
age 50
Full CPI indexing
Gordon B. Lang & Associates Inc.
39. IPP – Requirements
Trust Deed and Plan Text
Trustees
3 individuals (1 separate from Company
which must be GBL and Associates)
Actuarial Valuation Report
Directors’ Resolutions
Establishing Plan
Appointing Investment Manager
Gordon B. Lang & Associates Inc.
40. IPP Requirements
Investment Agreement
Investment Objectives Document
Registration with Province & CRA
Connected Persons Information Return
Locking-in Agreement for RRSP
Qualifying Transfer
Past Service Pension Adjustment
Certification
Gordon B. Lang & Associates Inc.