Section 162(m): the Bonus Break (May 10)

Mike & Co. — April showers in May provides an excuse for a tax focus this week.  How many know that the federal tax code had a provision allowing large firms to write off the bulk of their executives’ wages?  Section 162(m) of the Code has a loophole letting “performance-based” compensation to be claimed as business …

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Regulatory Rule Roundup (May 5)

Mike & Co. — During the lull on the Hill with the Senate in recess this week, attention shifted to the regulatory front, with two agencies making news with major proposed rules addressing issues at opposites ends of the financial industry spectrum.   On Tuesday, the Fed issued the long-awaited rule on the treatment of qualified …

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The Retirement Challenge (May 3)

Mike & Co. — Last week, the House voted along party lines to adopt a resolution blocking the Labor Department’s recent rule requiring retirement advisers to put their clients’ interests ahead of their own.  President Obama has said that, should the bill pass the Senate and land on his desk, he will veto it; Labor Secretary …

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Puerto Rico Debt Deal (April 26)

Mike & Co. –- On Sunday, a Commonwealth of Puerto Rico a $422 million bond interest payment comes due that can’t — or in any case won’t — be paid on time.  Gov. Alejandro Padilla has repeatedly said that the island cannot make that payment; others have questioned those statements.  Close behind follows a two billion dollar payment …

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The Meaning of (Met)Life (Apr. 26)

Mike & Co. — Last week Treasury Secretary Jack Lew wrote an opinion piece in the Wall Street Journal explaining why he is leading the FSOC to take a look at asset management firms for SIFI designation.  He had a larger purpose in mind.   In light of the MetLife v FSOC ruling it was seen …

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Corporate Tax Reform Proposals (Apr. 25)

Mike & Co. — It’s April, tax time, and tax reform is in the air in DC again this spring as Senate Finance and House Ways and Means both hold hearings on the topic this week.  Additionally, the Joint Committee on Taxation released a comprehensive background report on corporate income tax (CIT) reform Friday which outlines and …

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SEC Nominations (Apr. 20)

Mike & Co. —  Hillary’s commanding victory in the New York primary last night is cause for celebration and bring the Secretary a decisive step toward  the Democratic nomination.  Tremendous effort and outcome —  congratulations all around.  Speaking of nominations, the path forward has gotten still murkier this month in Senate Banking.  Four Committee Democrats …

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