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The Daily


Maya Lindsay
Published Date:
Aug 15, 2016

NYSSCPA Members in the News

Joanne S. Barry – Executive Director and CEO
People News – Aug. 12, 2016
Accounting Today
NEW YORK - Joanne S. Barry, executive director and CEO of the New York State Society of CPAs, received the City and State’s 2016 Corporate Social Responsibility Award.

Other Accounting and Financial News Stories

Expats: Brace yourself for the tax consequences
Every four years, thousands of Americans threaten to leave the United States if the "wrong" candidate becomes president. This presidential election is obviously no different. Therefore, for anyone who is serious about leaving: Brace yourself for the financial tax consequences. With an estimated 9 million Americans currently living overseas, the U.S expatriate community is comprised of a wide variety of people from all walks of life.

Good News for M.B.A. Students: Tuition Is Now More Deductible
Wall Street Journal
A specialized court’s decision should embolden more students enrolled in M.B.A. programs across the country to deduct their tuition—especially if they are getting an executive M.B.A. In the case, Kopaigora v. Commissioner, the Internal Revenue Service had hoped to collect thousands of dollars from Alex Kopaigora, a 42-year-old who came to the U.S. from Ukraine in 1994 on a Mormon mission and later became a citizen.

Why Inflation Expectations are 'Plaguing' Japan
Hedge funds and other large speculators increased net bets the dollar will weaken against the yen to the highest level in a month, according to Commodity Futures Trading Commission data as of Aug. 9. Traders will focus on the meetings of the Federal Reserve and the Bank of Japan next month for direction, after disappointing stimulus announced last month by the BOJ failed to halt yen strength. RBC Europe Chief European Macro Strategist Peter Schaffrik discusses with Bloomberg's Francine Lacqua on "The Pulse."

The 'Fire Sale' Fears Driving Big Banks' Push to Delay Volcker Rule
Goldman Sachs (GS)  , Morgan Stanley  (MS) and other Wall Street firms are asking federal regulators for a five-year extension on selling billions of dollars in investments banned under post-financial crisis reforms because the markets for them aren't liquid. The holdings are covered by the Volcker rule, a provision of the Dodd-Frank Act best known for its ban on proprietary trading, that also bars federally insured banks from owning and making significant investments in private equity and hedge funds.

Ever-lower interest rates have failed. It’s time to raise them
When the Bank of England reduced the base rate to a record low this month, there was one, tiny consolation for savers. The governor, Mark Carney – almost the only individual to have emerged from the Brexit shambles unscathed – said he was “not a fan” of negative interest rates. He thus seemed to rule out the nightmare – for anyone even just in the black – that we would have to pay the banks for keeping our money, rather than the other way round.

Envisioning Bitcoin’s Technology at the Heart of Global Finance
New York Times
A new report from the World Economic Forum predicts that the underlying technology introduced by the virtual currency Bitcoin will come to occupy a central place in the global financial system. A report released Friday morning by the forum, a convening organization for the global elite, is one of the strongest endorsements yet for a new technology — the blockchain — that has become the talk of the financial industry, despite the shadowy origins of Bitcoin.

Stock Valuations Flash a Warning Sign
Wall Street Journal
Lower your sights. The U.S. stock market’s trifecta of record index values last week, its first since 1999, comes with a glaring warning that isn’t getting as much attention as it deserves: rising valuations. This has important implications not only for individual investors but also public pension funds that base their health on investment targets.

Bond Funds Turn to Emerging Markets
Wall Street Journal
Bond investment funds that usually have little appetite for riskier debt are boosting their exposure to the developing world, a move that is helping drive this year’s emerging-markets rally. International bond funds run by BlackRock Inc., Legg Mason Inc. and OppenheimerFunds are among the big money managers that have been increasing their positions in emerging-market debt in recent months.