Tax Law May Send Factories and Jobs Abroad, Critics Say [NYT]
Although the intent of the new low corporate rate of 21 percent was to bring companies and investment back to the U.S., some worry that the new low rate of 10.5 percent on income earned by foreign subsidiaries will draw more resources overseas. Proponents argue that manufacturers “consider taxes, but they also look at an array of other factors, including the local talent pool and transportation network, when deciding where to build a new plant.”
Elsewhere: Buffett’s Berkshire stands to gain $37 billion windfall from tax plan
Cybersecurity Tops Boards’ 2018 To-Do Lists [CFO]
Among the new fun things to worry about: “[T]he European Union’s General Data Protection Regulation is slated to take effect on May 25. GDPR could prove particularly onerous, as fines for noncompliance top out at the greater of €20 million ($23.9 million) or 4% of worldwide annual revenue.”
Hey, Bargain-Hunters: An M.B.A. Is Cheaper Than You Think [WSJ]
It seems that business schools have gotten the hint. “If you’re offering $500 in scholarships when tuition is $120,000 for two years, that’s a rounding error.”
What You Can Do If Tax Reform is Effing with Your Value Pricing [Thriveal]
Resident GC cartoonist Greg Kyte writes about how firms that have ditched billable hours can take advantage of all those stupid questions they’re getting. “Since I (A) eat and (B) poop, does that make me a pass-through entity?”
SEC Branch Trolls Blockchain Stock Pumpers [CoinDesk]
From who else? The Fort Worth Office:
We’re contemplating adding “Blockchain” to our name so we’ll increase our followers by 70,000 percent.
— SEC Fort Worth (@FortWorth_SEC) January 8, 2018
Previously, on Going Concern…
In Open Items, someone’s worried about repaying a signing bonus received in 2016. Also, a senior at a “smaller, state school” wants to “work at one of the big 4 firms and want to get my CPA but am not sure how to get there.”
From the archives: Judging By This List, Accountants Aren’t Marriage Material
In other news:
- The Rockefellers vs. the Company That Made Them Rockefellers
- Jeff Bezos is the richest person in history
- Tech Backlash Grows as Investors Press Apple to Act on Children’s Use
- Nebraska Becomes the First Red State to Introduce Net Neutrality Bill After FCC Scrapped Federal Rules
- Sean Spicer says Oprah Winfrey doesn’t have the political experience to be president
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