Some U.S. Businesses Not Happy With Obama’s Plan to Stop Inversions

Some U.S. Businesses Not Happy With Obama’s Plan to Stop Inversions

Some U.S. Businesses Not Happy With Obama’s Plan to Stop Inversions

In recent years tax inversions have become increasingly popular as several large U.S. companies look to lower their corporate tax bills. This process consists of a company shifting its headquarters from the United States to a foreign country, which helps it greatly reduce its taxes. While this practice is completely legal many lawmakers, including President Obama, have called for measures to stop it, or at least make it a lot less attractive.

In fact, the president recently announced more proposals to prevent the practice. However, many banks and companies are crying foul over the latest proposals, claiming that they would be complex and expensive. Democrats in Congress are all for the proposed changes, as they want to prevent U.S. companies from skipping out on their tax bills. However, republicans claim the rules would discourage foreign investment in the U.S. and that the Obama administration is overstepping its authority.

Meanwhile, according to several trade groups and businesses that represent the many different sectors involved, including retailers, bankers and manufacturers, as well as oil producers, have argued that the Treasury’s proposal to put a stop to deductions by reclassifying the debt as equity would only serve to disrupt their operations and weigh down their businesses with more regulations and unnecessary red tape.

<p”>http://www.reuters.com/article/us-usa-tax-inversions-idUSKCN0ZT2OE

 

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Alan Olsen, CPA

Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

Alan L. Olsen, CPA, Wikipedia Bio

 

 

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The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

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