Practical analysis for investment professionals

taxes


US Tax Reform: Three Q1 Considerations for Investors

As US companies begin to report their first quarter results, investors will need to consider the ongoing effects of the 2017 US Tax Cuts and Jobs Act, writes Sandra Peters, CPA, CFA.

US Corporate Tax Cuts: Investors Should Request Companies Include Income Tax Footnote with 2017 Earnings Release

Investors need to request that the companies they invest in include the income tax footnote along with their 2017 earnings release. Sandra Peters, CFA, explains why.

US Corporate Tax Cuts: Companies Concerned about Year-End Time Crunch

Yesterday, Congress passed the tax reform bill that reduces the corporate tax rate from 35% to 21%. Tax law changes will make it into financial statements when they are signed by President Donald Trump. While the changes are not effective until 2018, they significantly impact estimates made in 2017 financial statements once the bill is signed.

Waiter, Can We Have the Bill Please? Republican Tax Reform in One Chart

For everyone who has not read the Republican tax legislation in full, Joachim Klement, CFA, provides a concise summary of its costs and benefits in one chart.

US Corporate Tax Cuts: Two Boogeymen to Keep in Mind

The yet-to-be-completed US tax bill reducing the corporate tax rate from 35% to 20% and encouraging the repatriation of earnings is generally seen by investors as a positive development. But investors should be mindful of several resulting tax consequences that may decrease valuations and corporate earnings once the bill is enacted.

US Tax Reform: “Voodoo Economics”

While Joachim Klement, CFA, has some sympathy for the proposals coming out of the White House and US Congress to cut corporate taxes despite the potentially negative long-term effects, he is less sanguine about their efforts to eliminate or reduce estate and individual income taxes.

US Tax Reform: Taking Care of Business

As 2017 enters its final quarter, the White House and US Congress are trying to tackle a key Republican pledge from the 2016 elections: comprehensive tax reform. A major aspect of the preliminary proposal: a reduction in corporate tax rates. Joachim Klement, CFA, explores the potential costs and benefits of such a policy in the first installment of his two-part analysis of US tax reform.

Corporate Taxes Matter, But Not in the Way You Think

The common assumption is that lower tax rates should increase corporate profits, share prices, investment, and consumption, and thus lift the entire economy. Unfortunately, this is not quite how it happens in the real world.

Don’t Forget Taxes When Comparing Dividend Yields

In their overzealous efforts to chase yield, investors often fail to consider the tax implications involved in owning dividend-focused investment products. The tricky thing about dividend income is that not all of it is taxed the same way.

Book Review: We Are Better Than This

The author conveys a deep appreciation of the workings of the US fiscal machine and how fiscal policy — government spending and tax revenue policy — affects every aspect of the economy. Most likely to interest financial analysts are the chapters that function as an instruction manual on the mechanics of fiscal policy. They draw on a large body of data and insightful analysis yet engagingly written in layman’s terms rather than economic jargon.



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