Accounting News Roundup: Getting One Over on Carried Interest; Deloitte Gets a Sign; A KPMG Hero | 06.13.14

How Obama Can Increase Taxes on Carried Interest [DealBook]
Executive branch magic!: "The administration has increasingly relied on executive branch rule-making authority to make policy without waiting for a gridlocked Congress to act. The White House has made significant changes to education policy, immigration policy, environmental standards and climate change policy, and, most recently, student loans. And it has the legal authority to unilaterally change the tax treatment of carried interest."

Deloitte to move downtown L.A. office to Gas Co. Tower [LAT]
They even get their name on the 50-story building: "Deloitte's logo will be placed atop the tower, making it the first tenant to have that coveted signage perch. The peak of the 50-story building has been plain since it was completed in 1991."

CPA Profession Going Strong, but Facing Issues [AT]
Sayeth Barry Melancon.

Sierra Club targets 21 reps. for inaction on wind tax break [The Hill]
With confusing rhetoric: "
The wind production tax credit is arguably one of the best bets we’ve made on clean, domestic energy,” Dave Hamilton, director of clean energy for Sierra Club’s Beyond Coal campaign, said in a statement. “But many in Congress are failing to act, leaving thousands of American workers and communities across the country blowing in the wind." So: wind tax credits = good! Wind = bad. 
 
Congress Should Abolish All Tax Breaks for Higher Education [Joe Thorndike/Tax Analysts]
The headline makes the lede so much more interesting: "College is hopelessly unaffordable." Joe makes it clear later on: "Let’s get rid of tax incentives for education entirely. Generally speaking, they are Rube Goldberg contraptions, best replaced by something more straightforward – like direct spending programs. "
 
Hero accountant saves woman from Thames [Economia]
KPMG tax advisor Paul Sopher is fast, strong and fresh for the fight: 
Sopher was winding down after a long day of work on HMS President – a riverboat bar near Blackfriars Bridge – with his girlfriend, on Monday, when they heard people screaming. “I was just having some drinks with my girlfriend,” Sopher said. “When we were starting to go home, there was a lot of commotion by the side of the boat.” Peering over the side, he could see a young woman in her 20s had fallen in to the river and was struggling to keep her head above the water. Rescue teams were en route but it was obvious she needed help – fast. Against the advice of bystanders, Sopher took off his shirt and jumped in. “I didn’t really have time to think, I just knew she needed help,” he said. “She was the brightest shade of blue I’d ever seen.” Once in the water, Sopher used a life ring to help swim her to safety. Assisted by bar staff, he was able to get the woman back on deck. Following a quick medial check by paramedics, Sopher was awarded free drinks for his bravery before being driven home by police.
KPMG may lease over 7-l sq ft office space in Bangalore [ET]
The firm needs space for the 10k people its hiring over the next 4 years.

Watch What Happened When 1,000 People Simultaneously Ate One of the Hottest Chili Peppers in the World [LEAM]
They make horrendous and hilarious faces. 

 

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