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Tax Planning Under the Inflation Reduction Act of 2022
Get PDFThe Inflation Reduction Act of2022 (the Act ), signed by President Biden on 8/16/2022, contained an array of tax provisions that should be considered in tax planning for clients.
The Act is a budget reconciliation bill whose origins can be traced back to the American Rescue Plan Act of2021, as well as the American Jobs Plan (AJP) and the American Families Plan (AFP). Each plan contained aspects of tax incentives for green energy construction, conservation, and infrastructure improvements, as well as for healthcare benefits. What we see in the Act is the last iteration of these developing tax incentives.
The Act is a scaled-down version, and immediate successor, to the Build Back Better Act which passed in the House of Representatives in 2021 but failed to pass in the Senate. It incorporates and enlarges on many of the tax provisions in the Build Back Better Act related to energy efficiency and healthcare
The Fiscal Transmission Mechanism of Inflation
Get PDFThe link between money creation and inflation has been theoretically demonstrated, but different inflation responses to Federal Reserve activity after the Great Recession and COVID recession showed the incomplete nature of the theory. We model a “fiscal transmission mechanism” whereby Federal Reserve purchases of Treasury securities lead to inflation as new dollars flow through fiscal deficits into the economy. In our model, other Federal Reserve activity generally lacks inflationary effects. Using a nonstructural vector autoregression approach, we test for the presence of this mechanism and offer near perfect predictions of the 2022 inflation rate using a time series extending back half a century. We explain the fiscal transmission mechanism and the reasons why other Federal Reserve activity lacks the same effects, and we propose an emphasis on controlling the money supply by limiting Federal Reserve purchases of Treasury securities as a better way to control inflation than setting an interest rate target
The Impact of Childhood Maltreatment Evidence, Gender, and Age on the Perceptions of a Jury: Survey of Mock Jurors
No full textThis research delved into the influence of introducing a defendant\u27s history of childhood maltreatment during court proceedings on mock jurors\u27 perceptions of the defendant. The study specifically investigated how factors such as the type of maltreatment (physical abuse or neglect), the gender of the defendant (male or female), and the defendant\u27s age (juvenile at age 16 or adult at age 30) impact these perceptions. A total of 1,341 study participants, primarily university students aged 18-24, completed an anonymous online survey. The survey initially collected demographic information and then presented a mock case summary involving a defendant charged with assault and battery against their mother. Participants responded to five questions regarding their opinions and emotions concerning the case. The mock case summaries were randomized to include one of the two maltreatment scenarios in the defendant’s history and to randomize the options for the defendant’s age and gender. The results showed that the type of maltreatment did not have a significant impact on mock jurors’ feelings or opinions. However, the defendant’s age and gender did have statistically significant but relatively small effects on these perceptions. Notably, the demographic characteristics of the mock jurors played a significant role in shaping their emotions and opinions in several meaningful ways. This study sheds light on how jurors may potentially view the introduction of childhood maltreatment evidence in the background of a defendant in a criminal case and whether such information might elicit greater sympathy towards the defendant
Expanded Tax Incentives for Energy-Efficient Construction and Improvements
Get PDFThe Inflation Reduction Act of 2022 (the Act), included an array of tax-law changes that may not have gotten the attention they deserve.
There are several reasons why for many these changes may have been under the radar. First, as part of a much larger legislative package, much of the attention has been given to the ongoing political debates rather than individual provisions. In fact, the Act is part of a larger political saga. It\u27s a scaled-down version, and immediate successor, to the Build Back Better Act which passed in the House of Representatives in 2021 but failed to pass in the Senate.
Second, the changes are often extensions and expansions of existing tax incentives, and it may not be clear right away how significant these extensions and expansions are in terms of dollar volume and benefit to taxpayers.
Finally, the incentives are somewhat scattered and there may be situations where individual incentives aren\u27t significant but the effect in the aggregate is significant
Sentiment and Accruals Earnings Management: Does Governance and Regulatory Environment Matter?
Get PDFThis paper examines the implications of firm-level governance mechanisms and the regulatory environment on the relationship between investor sentiment and accrual-based earnings management. Our findings confirm the positive impact of sentiment on earnings management through accruals. Our results confirm that in the presence of a stringent regulatory environment, the likelihood of abnormal accruals following a positive sentiment environment is low. We document that a stringent regulatory environment reduces the likelihood of abnormal accruals following a positive sentiment environment. Results further confirm that improved governance characteristics like larger board, increased board independence, and stringent related party transaction norms help to monitor corporate behaviour and mitigates opportunistic earnings management activity of managers with an exogeneous effect of market sentiment. Thus, our results have important implications for regulators and policymakers for strengthening the regulatory and monitoring environment. Investors may also use earnings announcement news during an optimistic market sentiment scenario in a more informative way
Ukraine’s Path to Victory Runs Through the Streets of Moscow
No full textAs that diplomatic and political drama unfolds, it’s becoming increasingly clear that there are only three ways the war in Ukraine might end. First, Russia could win outright, with a permanent settlement in which Ukraine cedes territory to Moscow. Second, Ukraine could win: In that scenario, Ukraine would need to take back Crimea, the center of gravity around which the war has pivoted since 2014 when it was occupied by Russia. Third — the most likely scenario — the fighting could be frozen and followed by a political resolution years from now
Exploring C++
Get PDFThis book is intended for use by students who hope to deepen their understanding of C++ and learn about advanced features. It is also useful for C or Java programmers who want to learn C++ and OO style . . . fast. It assumes that the reader knows basic programming including types, type-matching rules, control structures, functions, arrays, pointers, and simple data structures. The material should help you develop a deeper understanding of the implementation of C++, of clean program design and of the features that make C++ a powerful and flexible language.https://digitalcommons.newhaven.edu/electricalcomputerengineering-books/1001/thumbnail.jp
Urban Crime and Its Net Implicit Price to North Carolina Households
Get PDFThis study investigates the impact of urban crime rates—property and violent—on wages and rents and estimates the net implicit monetary value of crime rates for living in metropolitan areas, using the American Community Survey 2019 data for cities in North Carolina. A seemingly unrelated regression estimation finds that the crime rates are capitalized into both wages and rents, and suggests crime rates affect wages positively and rents negatively. This investigation estimates a negative value of $51.80 per month—the average net marginal implicit price—for living in cities with high city crime rates. This negative value suggests that households are being compensated for living in cities with high crime rates
Serviceability Analysis and Feasibility Study of Rooftop PV System on Commercial Buildings in New York City
Get PDFConcrete Masonry Unit (CMU) blocks (Ballasts) to counterbalance an uplift wind pressure on Photovoltaic (PV) panels have been used widely. In contrast to mechanically attaching PV panels through penetration of a roof slab, the use of CMU blocks is preferred by many building owners, as penetrating and attaching the panels to a roof slab will pose a serious threat to the warranty of roof membranes, which typically last for 30 years. On the other hand, placing CMU blocks along with PV panels and other system components on a rooftop slab adds additional dead load, which may raise a concern regarding the long-term serviceability of the rooftop slab.
This study is mainly focused on the uplift wind calculation to determine the optimal number of required ballasts, roof slab serviceability analysis to determine sustainability in the form of long-term deflections, and a feasibility study on the economic benefits of PV installation. A building with ballasted PV which has typical material and section properties located in New York City was selected and analyzed.
The initial pre-PV long term deflection was found to be 0.83 in. and 1.05 in. for roof live loads of 60 psf and 100 psf, respectively, while the allowable deflection limit for the given slab geometry is found to be 1.15 in.in accordance with the local code design requirements. Both live load conditions were applied along with self-weight and other dead loads to calculate the initial long-term deflection. The long-term deflection results from post-PV serviceability analysis were found to be below the pre-PV deflection. Hence, it is concluded that installing PV systems on a rooftop slab does not have a significant effect on its service life.
Economic feasibility analysis is also conducted by using project profitability indicating parameters. Simple Payback Period, Net Present Value, Discounted Cash Flow, Internal Rate of Return, Simple Cash Flow, and Profitability Index were found to be 5 years, 135,486, 18%, and $402,772, respectively. This confirms that installing PV systems on rooftop slabs of existing buildings in New York City is an attractive investment
Non-planar 3D Printing of Thermosetting Prepolymers
No full textAdditive manufacturing or three-dimensional (3D) printing is an advanced process of manufacturing that challenges traditional manufacturing methodologies. However, the current 3D printing process does exhibit specific limitations. It generates printing paths that are in a horizontal plane, proving inadequate for printing curved or non-flat structures. This study established a printing procedure capable of simultaneously executing printing in X, Y, and Z directions. The limitations posed by conventional 3D printing lead to the poor surface quality of curved printed objects. In contrast, non-planar 3D printing provides smoother surfaces. This work developed a program capable of producing non-planar print paths for the fabrication of curved surfaces. Non-planar 3D printing is set to have a crucial role in the fabrication of curved features.
An innovative approach to 3D printing thermoset pre-polymers, substances capable of transitioning from liquid to solid states under specific conditions, was explored. The technique involved the precise deposition of these pre-polymers in a controlled manner, allowing 3D printing on curved surfaces. The properties of the thermoset pre-polymer material used for 3D printing were explored. The print material and the program developed were utilized to print on complex curved surfaces. In conventional 3D printing, certain objects require temporary support during 3D printing, which can be later eliminated. The developed program is tested for the 3D printing of support-free structures. To demonstrate the capabilities of the developed program, a structure on a scaled model of a human palm and a non-planar support-free structure is printed. Additionally, an optimized iteration of the program is developed to reduce the calculation time and speed up the g-code generation