More On Tax Planningfrom The Advisor's Professional Library
- Selected Provisions of the American Taxpayer Relief Act of 2012 The experts of Tax Facts have produced this comprehensive analysis of selected provisions of the American Taxpayer Relief Act of 2012 (the Act) to provide the most up-to-date information to our subscribers. This supplement analyzes important changes to the tax code with emphasis on how these developments impact Tax Facts’ major areas of focus: Employee Benefits, Insurance, and Investments.
- Use and Misuse of Social Media Social media is an inexpensive and effective way to communicate with established and prospective clients. Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.
This is a week for Senate votes and corporate earnings, for consideration of European debt issues and banking regulations, for reports from the Fed and reports on inflation. Following America's new-found flirtation and the rest of the world's obsession with what those foreigners rightly call football, the midpoint of the baseball season is marked with the All-Star game on July 13. Will corporate America participate in the home-run derby? Stay tuned.
Beginning the week, Congress returns from its July 4 recess with the Senate reconvening for what it quaintly calls a morning session at 2:00 P.M. on July 12. The chamber is expected to approve the Dodd/Frank landmark financial reform legislation on July 13, with President Obama signing the bill forthwith. The horse-trading and vote-switching appears to be over. Finally.
On Tuesday, the 13th, Greece is expected to hold the first auction of sovereign debt since other Euro-zone nations cobbled together a bailout plan for that nation's tottering finances in May. Back home, the Census Bureau releases the U.S. trade deficit numbers for May, along with the Federal budget deficit for June.
On Wednesday the 14th the Federal Reserve releases minutes of its June meeting, while May business inventories are revealed, along with June retail sales and import and export prices for June. The Senate Finance Committee holds a hearing on "The Future of Individual Tax Rates: Effects on Economic Growth and Distribution."
On Thursday the 15th, Senator Chris Dodd's Banking, Housing, and Urban Affairs Committee holds hearings on three nominees for Fed posts, including Janet Yellen to be vice chair of the Board of Governors. That same day, the Senate Finance Committee holds another hearing, this time on "Choosing to Work During Retirement and the Impact on Social Security," featuring testimony from the chief actuary of Social Security Administration, Stephen Goss.
Also on the 15th comes release of the Producer Price Index from the Bureau of Labor Statistics, weekly jobless claims from the Department of Labor, and industrial production and capacity utilization from the Census Bureau. The big banks and advisor partners begin the earnings season in earnest with JP Morgan Chase's second quarter earnings, along with those of Charles Schwab.
That's followed on Friday the 16th with earnings from Bank of America and Citigroup, along with the Consumer Price Index for June, and further evidence of consumer sentiment with the Reuters/University of Michigan consumer confidence index for July.