Another New Currency Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Another New Currency
The recent bankruptcy filing of Mt. Gox, one of the industry leaders in the Bitcoin world, has provided the impetus for me to start a new business, and I wanted you all to be the first to know. I'd like to formally announce the formation of JeffCoin! That's right JeffCoin!
From the research I did before forming JeffCoin! I learned that Bitcoin is a peer-to-peer technology used to engage in financial transactions; it is open sourced (whatever that means); nobody owns or controls it; and it has no connection to a central bank, federal reserve or any other government financial body. I think I got that all straight, but if not, apparently neither did the Mt. Gox people.
Do As I Say Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Do As I Say
What are we to make of Warren Buffett's latest tax parlay in a stock-for-active-assets deal between Berkshire Hathaway and Graham Holdings Co.? The man who has lectured corporate America about companies' obligations to pay their fair share is a mastermind at minimizing his own tax exposure using every legally available means in the U.S. tax code. Now in the spirit of full disclosure, before I go any further I need to let you know that I am, in fact, a Berkshire Hathaway shareholder with a slightly smaller stake than Warren himself.
On Wednesday, it came to light that Berkshire Hathaway, of which Buffett is famously chairman & CEO, notified regulators of the company's intent to swap about $1 billion of Graham stock that Berkshire owns for a package including a Miami television station, Berkshire Hathaway shares (that Graham owns) and cash. The transaction will enable Buffett to limit his company's tax liability in cashing in the wildly appreciated Graham stock (which he has held since the 1970s), avoiding a capital gains tax that would have applied to a straight sale.
No Fly Zone Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
No Fly Zone
Ever since it was first reported missing last Saturday, the mystery of what happened to Malaysia Airlines Flight 370 only deepens and gets more confusing.
Conflicting reports from Malaysia, China and Vietnam, as well as conflicting civilian and military findings, further confuse. What we know as of this writing is that a Boeing 777, with over 200 people on board, is nowhere to be found. No plane, no passengers, no wreckage, no oil slick, nothing. Military and civilian radar doesn't seem to have reliably tracked the aircraft; satellite images can't produce anything conclusive; the transponder aboard the plane was either shut off by someone on board or failed; and the plane allegedly had enough fuel to fly 2,500 miles after contact was lost. As of this moment the search area has grown to 31,000 square miles. And still no one has any clue as to where Flight 370 is.
All Aboard Busy Season 2014 Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
All Aboard Busy Season 2014
Mark Zuckerberg once said, "Move fast and break things. Unless you are breaking stuff, you are not moving fast enough." Marcum is not exactly breaking things, but we do move quickly to keep pace with our clients. Particularly at this time of year. As of March 1 we entered the peak period of our first "busy season" of the year.
More than just basic tax, accounting, auditing and advisory services, our real business is helping our clients succeed. In many cases, that means helping them grow. And as they grow in revenue, reach, or market position, we need to grow alongside them, to make sure we have the resources and expertise they need in their dealings with us. That has meant adding new people and services as well as expanding existing areas of expertise and broadening our geographic reach.