Archive | February, 2013

My Theory of Asset Pricing

From a reader on last night’s piece: David, can you expand on this – ” I would revise the concept of the cost of capital to make it credit-centric.  All the efforts to calculate the cost of equity capital from equity market correlations are bogus.  They don’t make any economic sense.  In most cases, the […]

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Lighten-Up, It’s The Weekend – I’m Smiling This Weekend

Recently, a surprise came in the mail. It was an unexpected and greatly appreciated honor. I received a special congratulatory certificate from the Senate of the 129th General Assembly of Ohio congratulating me on being among the Top 100 Most Influential People in Accounting. It contained lots of flowery words including these… Through your admirable […]

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OIC Calculator

The IRS has a new tool that will let taxpayers check to see if they are eligible for an Offer in Compromise (OIC) and get a preliminary offer amount if they do qualify.. The Offer in Compromise program allows taxpayers to make a counter offer to pay their IRS debt. This isn’t a “pennies on […]

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The Education of a Mortgage Bond Manager, Part VII

1) One place where being an actuary and being a financial analyst melded well was with Affordable Housing and Historic Tax Credits.  In all of these investments, it made a great difference as to what the Statutory, Tax, and GAAP accounting bases.  When I described my methods of working through the free cash flows, AHIC […]

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CAA Get More Time For Forensic Training

Earlier this year, the IRS announced new rules for documenting an ITIN application. They now require the originals of documents like passports be sent with the returns. Because of the inconveniences this can cause the taxpayer, Certified Acceptance Agents (CAA) can verify some documents which allow the taxpayer to keep that document while their application […]

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