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New blog: MF Global & PFG Best deposit losses have nuanced tax treatment http://www.greencompany.com/blog/index.php?postid=180 Here’s an important update on dealing with tax write-offs for MF Global (MFG) and PFG Best (PFG) deposit losses and reporting taxable income in subsequent years...

Thanks, I got confused on this point and it makes a huge difference. Based on what bjw says above, my WSJ comments are correct, the tax is a huge sneak attack after the fact. You can't know who you are trading with in advance of trade execution. With so many intermediaries involved, it's very...

Some of the media reporting yesterday was fuzzy on how the residence and issuance principals work. Please clarify the below. Residence principal: An American trades an American-issued stock - not an EU 11 ADR - with a French resident. FTT is withheld on the French investor's buy and sale...

My comment on WSJ article, based on above quote. How can this work? Buy 1,000 shares for $35 per share with a $10 commission. Get an unexpected email from your broker a day later saying congratulations you traded with a Frenchman and he charged you an extra $60 tax to buy the French...

EU to Present Financial-Transaction Tax Proposal on Feb. 14 - Bloomberg http://www.bloomberg.com/news/2013-02-01/eu-to-present-financial-transaction-tax-proposal-on-feb-14.html We should see the important details and answers to many open questions about the proposal on Feb. 14.

My Google Alert just came in on FTT. Huge number of articles today. Google it for the links. Hard to add each one on iPad Notice Rep. DeFazio is ready to ride EU EC-11 FTT coattails. If the UK turns to Labour in 2015, and Obama keeps diminishing Republicans to usher in a Democratic win of...

I'll ask our tax attorney to help answer this question. Portfolio interest is tax free, which includes corporate bonds. But, promissory notes are different. See this site http://www.unclefed.com/AuthorsRow/Kleinman/nonresidentaliens.html It's always important to read the tax treaty...

Non-resident aliens are not subject to U.S. taxes on portfolio income, except for dividends, sometimes interest and MLPs. Trading futures and forex is tax free for non-resident aliens. Forex rollover interest is not really interest, it's trading gain or loss. Even if you are an owner in a...

Cameron Gambles on Promise of EU Vote - WSJ.com http://online.wsj.com/article/SB10001424127887323539804578259203099915538.html Cameron Promises Britons a Referendum on E.U. Membership - NYTimes.com http://www.nytimes.com/2013/01/24/world/europe/cameron-britain-referendum-european-union.html...

Passing a major new EU tax using enhanced cooperation is groundbreaking and difficult. EU leaders are using trial balloons on FTT to forge consensus. At each critical juncture in the process to move forward, they leave out critical objection points - like details on their FTT’s...

Curiously odd. Without FTT details to vote on, FTT naysayers may not have wanted to vote no in a formal QMV at this juncture. They seem to prefer to keep a seat at the table as FTT architects design the final legislative bill language for EC-11 FTT. For sure, the naysayers will vigorously...

Euro zone splinter group seen near deal on transaction tax GlobalPost http://www.globalpost.com/dispatch/news/thomson-reuters/130118/euro-zone-splinter-group-seen-near-deal-transaction-tax BRUSSELS, Jan 18 (Reuters) - A group of euro zone countries, led by Germany and France, looks set for a...

Ireland to push for a deal on financial transaction tax European Voice http://www.europeanvoice.com/article/imported/ireland-to-push-for-a-deal-on-financial-transaction-tax/76163.aspx. Needs a login. The first meeting of the year of European Union finance ministers, which will be chaired...

Many countries in the EU are slipping into or already in recession. Hopefully - and I know we can't bank on hope - these countries will come to understand "don't raise taxes during a recession." Just read about Finland and Nokia today and how they are in recession and there is gloom. It's...

Sounds like a stall with hopefully not enough QMV votes for passage.

Excerpt: "There are efforts to combat the applicability of the French tax to U.S. securities trades. In December, SIFMA and the Investment Company Institute jointly authored a letter to the Internal Revenue Service asking it to take a position that a clause in the US-France Tax Convention of...

Read this good link. Confusing, it's a current article but it mentioned upcoming Q4 key dates and I think they meant 2012 not 2013. Sounds like a FTT with extra-territorial reach will be voted down under QMV, which is being delayed for that reason. If they pair down extra-territorial...

Here's my new blog on the subject. Post fiscal cliff tax planning for traders http://www.greencompany.com/blog/index.php?postid=175 While most traders generally came out okay in the fiscal cliff deal, upper-income traders should consider a C-corporation and/or S-corporation in 2013 to...

Lithuania Delays EU Transaction Tax on Nordic Banks’ Concerns - Bloomberg http://www.bloomberg.com/news/2013-01-04/lithuania-delays-eu-transaction-tax-on-nordic-banks-concerns.html Good news. I figured all along that Nordic banking would have enough sway to block FTT. Same story in...

Same to you seasideheights. Happy New Year to all our friends on this thread. Another year has passed with no FTT in the U.S., thanks in part to our joint efforts. 2013 will be an important year to keep defending the fort.