'Marginal tax rate' diaporamas de présentation

Financial Statements and Cash Flow Key Concepts and Skills Understand the information provided by financial statements Differentiate between book and market values Know the difference between average and marginal tax rates Know the difference between accounting income and cash flow

Doing Business with a Broker Engel & Hecht Chapter 20 Doing Business with a Broker Full service brokerage Discount brokerage Internet/on-line brokerage Doing Business with a Broker Full service brokerage Stocks and bonds Mutual funds Central asset accounts Retirement accounts

Tax Planning. Chapter 11 “Tax Awareness” (the key). Tax Planning It’s legitimate.

Tax Planning. Chapter 11 “Tax Awareness” (the key). Tax Planning It’s legitimate.

Change and Information Technology. Financial markets have shown rapid change in the past Information technology is an important factor in the change, and portends important changes in the future Other changes are due to simple invention, and slow public acceptance of new information.

The Cost of Capital. Business Finance II Keldon Bauer, PhD. Introduction. NPV depends on the discount rate, WACC, which is the weighted average cost of capital. Adopting projects based on IRR depends on the discount rate, WACC, the weighted average cost.

Capital Structure and Firm Value. Does Capital Structure affect value?. Empirical patterns Across Industries Across Firms Across Years Who has lower debt? High intangible assets/specialized assets High growth firms High cash flow volatility High information asymmetry Industry leaders

Dividend Policy. 05/29/2008 Ch. 10. What is a dividend?. Return of Cash to the Owners Forms Periodic Cash Dividend - $0.50 per share each quarter (an example) Share repurchase – Company buys back shares any shareholders can sell back a portion of their ownership

FIGURES. © Richard B. McKenzie and Dwight E. Lee 2006 www.cambridge.org/mckenzie.

The Fundamentals of Bond Valuation. The present-value model. Where: P m =the current market price of the bond n = the number of years to maturity C i = the annual coupon payment for bond i i = the prevailing yield to maturity for this bond issue P p =the par value of the bond.

Michigan’s Income Tax. Paul L. Menchik Professor of Economics Michigan State University. Michigan’s Income Tax. A major pillar of Michigan’s financial system raising $7.3 billion in fiscal year ending 9/30/2007. Close second to Sales and Use tax which raised $7.9 billion.

Part IV: CAPITAL BUDGETING. 4.2. Estimation of Project Cash Flows. 4.2.1 Project Cash Flows. The effect of taking a project is to change the firm’s overall cash flows today and in the future.

Taxation and Incentives in the Business Enterprise. Research Project on “Enterprise Law as a Structure for Incentives”. By: David Gamage Assistant Professor, UC Berkeley (Boalt Hall) School of Law . Outline. -- What Does Research Tell Us About the Incentive Effects of Taxation?.

Taxable Income. Here we study some details about how to calculate the income tax we actually owe. With passage of the Tax Reform Act of 1986 income was given classification names. We have 3 types – active income, portfolio income and passive income. Active income is income earned on the job.

Wealth Transfer Taxes. Chapter 12. History. The U.S. has had an estate tax since 1916 and a gift tax since 1932 In 1976, Congress enacted the unified transfer tax system with unified graduated tax rates, ranging from 18% to 55%

Lecture Notes: Econ 203 Introductory Microeconomics Lecture/Chapter 12: Taxation: Design of the Tax System M. Cary Leahey Manhattan College Fall 2012. Goals. Review of the US tax system—where does the money come from? Evaluation of the efficiency and equity of the US tax system

A Matter 0f Trust. Jim Bird , CFP, CLU, CH.F.C., FLMI, J.D., LL.B.,TEP Regional Tax & Estate Planning Consultant Burlington, Ontario. Estate Planning Principles. Protect and control assets Maintain flexibility Retirement plan

Work incentives and income redistribution. Stuart Adam Mike Brewer Andrew Shephard. Outline. Poverty, inequality and redistribution Work incentives The trade-off. The income distribution. Big rise in inequality and relative poverty in the 1980s Greater private income inequality

BM410 Investments. Mutual Fund Basics. Objectives. A. Understand the advantages and disadvantages of mutual funds B. Understand the major types of mutual funds C. Understand how to calculate mutual fund returns D. Understand the process of how to buy a mutual fund

Valuation. Cynic: A person who knows the price of everything but the value of nothing.. Oscar Wilde. First Principles. Three approaches to valuation.