Showing posts with label TaxSis. Show all posts
Showing posts with label TaxSis. Show all posts

Thursday, September 20, 2007

The Baseball Update

Well, of course the Sox. 1.5 up with 9 to play. The odds are still on their side to win the division and the wildcard is practically in the bag.

Still, these Sox remind me of the 1987 Blue Jays who blew a 3.5 game lead with 7 left (going 0-7). Parallels abound....

1. Key injury to a key player? Tony Fernandez in '87, Manny/Youk in '07. Fernandez went down in a collision with about a week left, forcing Manny Lee into the lineup. Lee made critical errors down the stretch which cost the Jays at least one game. In '07, Manny's been out, forcing Crisp and Drew to play more and forced guys like Brandon Moss into the lineup.

2. Key power hitter going into a funk? George Bell in '87, David Ortiz in '07. Bell went something like 1-21 over the last week of the eason. Ortiz is on a 1-14 jag right now.

3. Ugly ass second baseman? Nelson Liriano in '87, Pedroia in '07. 'nuff said.

4. Solid starting staff? Steib, Key, Clancy in '87. Beckett, Schilling, Dice-K in '07. Unfortunate pitchers whose pens let them down time and time again.

5. Overmatched manager? Jimywocky in '87, GradyTito in '07. Seriously, what the hell is up with Tito's decisions the past few weeks? Better than Grady, but possibly worse than Jimy. At least he's not asleep like Cito.

6. Gritty veteran catcher? Whitt in '87, Varitek in '07. Varitek is a dead ass hitter. Whitt was always great.

We will see what happens the next week, but I'm inclined to call this season Manny Lee's Revenge.

Some links: Coming Soon.

Keep your Sox on has a good piece advising everyone to just relax. Good tonic to the ridiculousness of Mike Adams on EEI last night. His math? If you are more concerned about the playoffs than the division, then you must want the Yankees to win. No, Mike. I would love for them to win the division, but it's not that important in the grand scheme of things.

Kind of in the same vein, but expressing the frustration is Over the Monster who still have revenge/Yankee hate on their minds. The sentiment is understood, but eyes on the prize people.

38 Cliches is back and reports (via Scott's shots) that the unbearable Glenn Gefner will see his role calling Sox games greatly reduced next year. Thank God. I'd prefer the color guy from Major League.


The Taxes Update

The biggest news from my perspective was the announcement that the US and Canada are signing a protocol to their treaty, extending treaty benefits to LLCs and their owners.

Until now, Canada did not recognize LLCs as residents of the US for purposes of the treaty with the US, and it did not look through the LLC to the owners to determine if they were entitled to treaty benefits. The result was that, for investments into Canada that resulted in a withholding tax (like an investment in shares of a privately held company), an LLC that made the investment would be subject to a full withholding tax, even if all of the members of the LLC would have been eligible for treaty benefits had they invested in the shares directly.

The protocol is long overdue and will make it much easier to structure investments into Canada.

The death Life Update

TaxSis is in labor as we speak. Very soon TaxNephew will be born. We are all very excited. No idea what the name will be. The dad wants him to be a junior. My sis wants to name him Jackson William. We will see. A good night for the tax family in advance of the one year anniversary of my dad's death.

Sunday, September 9, 2007

The Football Update

Yes, a diversion to regularly scheduled programming...

The Good: (1) Patriots demolishing the Jets and their jerk fans. Seriously Jets fans? Cheering for Kellen Clemens after Pennington LIMPS off the field to save your team a time out? J E T S JERKS JERKS JERKS. Pats win 38-14. Moss goes off 9-183-1. Ho-hum. Brady must be like the kid whose parents have been saving up for years for a cool present for Christmas and then but him a freaking Mustang. (2) Packers topping the Eagles on a last second figgie. Only because that's one of the few I got right on my picks this week (shows what little I know. as I said, what I know about football you could fit in a golf ball). (3) No three, because...

The Bad: (1) Bills game. (2) Specifically the 15-14 loss on a ridiculous last second field goal by Elam after the Broncos converted 2 fourth and 2s and scampering on the field with just seconds left. For the record, I told the TaxSister with 3 minutes left that the Bills would blow it and lose 15-14. (3) Prayers go out to Kevin Everett who flew into the wedge on a kick return and went down like a sack of potatoes. I guess because he went head in without using his arms and shoulders to cushion the blow - a la Jason Street on FNL. Anyway, it does not sound particularly good for Mr. Everett. I wish him all luck in recovery.

The Ugly: The aforementioned Jets fans. Also, Randy Cross and John Madden in HD (or so I hear).

Bflo Blog has the game story and great perspective, although, having become a fan of teams not located in WNY, I understand other people's pain (not Clinton-level, but still).

And Circling the Wagons has the report card.

The Baseball Update

Sox win 3-2 on Beckett's 18th. Paps with his 35th save. Yanks win too. Looks like a Sox-Yanks ALCS, unless the Angels can knock off the Yanks.

No three things I noticed today. Was too busy watching football.

The Taxes Update

O.k., so I have been through all the testimony from Thursday's private equity taxation hearings. Now I'm getting a little nervous. All kinds of proposals were and will come out of last week's hearings.

Seems at this point that some action will be taken on taxation of carried interest. Still probably not this year unless Rangel is really able to fold it into a real amendment of the AMT (/skeptical given the cost). Two things that are likely to get done - (1) Rep. Sandy Levin's bill to encourage tax-exempts to invest directly into hedge funds rather than through Cayman corps. (2) Rep. Emanuel's bill (as yet unintroduced) to minimize ability of hedge fund managers to defer comp from offshore funds. Client alert will be published tomorrow.

The Death update

No new notables tonight and I'm tired. More tomorrow all.