SEC Reporting for Insurance Companies on Reinsurance Ceded, Assumed and Net

PART 210: FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 975

 

 

DCarsonCPA.com is your link to support services on Accounting, Taxes, Financials and Compliance through Strategic and Operational support and Advisory. Please visit us at http://www.dcarsoncpa.com/strategic/insurance for Our Landing Page focused on the Insurance Industry as it continues to update it is a good starting point. Overall you can learn more at www.dcarsoncpa.com   Our practice is about connecting knowledge, experience, teamwork and research in support of diversified Client needs on Services.

 

 

 

 

IP -Intellectual Property - the "Intangible" Asset Class with Real Financial Value (Part 1 Copyrights - Music & Film)

In Draft to consider the points we may help Artists on Financials, Taxes and other needs or Attys on related support services.

As a CPA Practice our goal is to support Businesses in various Sectors on needs that deal with Financials, Accounting, Taxes, Compliance, and Management level decision making in Strategic and Operational capacities to support Financial Decision Making.
This is an important skill to bring to the community of Creative Artists where the work of creating Art through Music, Art, Writing, Film or other avenue is a considerable task that needs attention. As you Focus on your ART considering that it may be better sustained as a Career path where Financial skills are in place on your support team to protect your Financial Assets. With services that include Accounting, Financials, Tax Compliance and a Strategic approach to managing the financial element of Creative Arts through supporting Artists with Financial skills.

On that note we bring you to an important point where our skills and experiences
with the Creative and Artistic Community as well as the Financial Services and General Business Sectors meet. For related Accounting, Tax, Financial or other Advisory Services and corresponding Legal Support Services (for Attorneys) on Expert Testimony, Paralegal or Litigation paralegal support interests on services. reaching out to the Artistic Community of Creative Artists, Musicians, Writers and Film communities in Our Economy. Our landing page for the Musical Community is http://www.dcarsoncpa.com/resources/ip_-_intellectual_property and we will soon have other specific pages defined for relevant other areas.

Each day through process of research and through following the news from Public Finance, Legislation, News and the Courts it is evident to us where there are opportunities to better support the Artistic community that in brief includes Artists, Musicians, Writers, and the Film Community from the Financial Perspective. 

A clear and important part of this need is through Accounting and using the tools of Financial Decision Making. With knowledge of Financials to better protect the Financial Interests of Creative Artists. We have Financial expertise that can help to better inform and protect you on Finances with insight through Financials. To additionally support your reporting needs with Tax Compliance.

We connect to Creative professionals with Financial skills from Industry and with an appreciation that although in Accounting Terms your works may be defined as "Intangible" Assets  or in Compliance / Legal terms defined as "Intellectual Property" (IP) you are engaged in creating Real Financial Value. The best way to Financially oversee your Creative Properties of  Financial Value is to use the tools of Accounting, Tax and other related Financial Analysis and Compliance terms to track the Assets you create with the established tools of Financial Management.

We focus on Financials and the Business end so you can Focus on your Creative skills, but are also interested in helping you grow Business skills for insight to Financial Decision Making tools to support your needs from the Business end.

Reinforcing that even as an Artist the Financial element of your Operations is a Business it's important to consider the protection of the Creative Works you make as Intellectual Property which is in Accounting terms an "Intangible" Asset with real financial value.

To create IP or and Intangible the first step is always to File and Protect your Creations a process best supported with Legal advice from an Attorney specializing in Intellectual Property or Copyright Laws to be specific.

If you are just starting on your path as an Artist and you do not have the Financial ability to contract an Attorney -  you should consult your Local Bar to see if you may connect with pro bono (for good - no charge or low cost) Legal support. The course of last resort would be to prepare your own filings where you may not succeed on the two points above. This is possible but not without risk as Intellectual Property is a Legal Property right best evaluated with professional skills by an Attorney (and we are not Attorney's and provide NO Legal Insight; rather our point is Financial and Control driven for Accounting purposes with some insight to how an IP Asset comes to life as an "Intangible Asset". In all scenarios the goal is protection of the Financial Value   in your Creative work through your own Independent pursuit of protected interests through Actions (taken in Legal Steps) that ultimately may create a Financial Asset with Business Value.

We are NOT Attorneys, but we are Financial Professionals with strong Accounting, Financial, Tax and Compliance skills to connect with your interests in IP  from a Financial perspective and can partner with your Attorneys or work directly with you as best suits your needs.

As you grow on the path of creating IP you will have Assets with corresponding Revenue Streams and although you may be a very fnancially successful artist, in that dimension you also become a business. The best thing you can do to be a business person in Financial terms is to use the tools of Accounting to develop Financials, track Assets, Liabilities, Ownership, Revenues and Expenses to manage your Financials. To build and maintain wealth it is best to track that wealth.

We are on the Strategic and Operational side and can offer investment neutral services to protect your wealth as our focus is on the Accounting, Tax and Financial Analysis of the matters currently. This means that we can on an inteim basis produce Financials that will help you track Royalties, track your Assets and Lead your ART as a business decision maker for Long term success. The best way to manage Financials is to build Financials for insight and we can teach you how to better understand the numbers and financials in context to your ART.

All that stated below please find links to important background information explaining Copyrights and then specialized Copyrights for Music and Film in overview.

We are pleased to assist you on related needs on Financials, Taxes and Busines growth where you have corresponding needs. You can find our contact information below.


circ01




circ50



circ45



DCarsonCPA.com for Financial Decision Makers in Government, Industry, Non Profit and Individual roles with a close connection to both the Financial and Creative Industries through experience in Business and Music at Berklee College of Music. We work with the knowledge of Financials and related Accounting, Taxation, Economics, Statistics, Finance, Taxes and Regulatory Compliance that connects Decision Makers. Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

Connecting to the US Courts

Intro:

One of the recurrent needs in following updates in news of the courts on Financial Cases is to understand districts. The role that the Courts play in respect to Financial Decision Making requires an understanding of the important relevance and location of districts.

Substance:

From a simple analysis of the significance of  Federal Court Districts  (this is not a Legal definition) the courts are important at the disctrict level for the specific ways that interperet cases. These interpretations of Cases (which Lawyers would likely refer to as "Case Law") communicate the application of various rules per the district and give a sense of the local application of rules.

This interesting feature of Our Legal system (in non legal terms) gives rise to regional perspectives in analysis and application of rules which is important to represent an area but would not fundamentally change the reasoning or intent of a Rule or Law, rather it would influence that Rule or Law's interpretation.

This analysis is not a "Legal" view point as I am not an attorney and would have no claim to a legal view. Rather it is just my current functional understanding.

National vs. State and Local Courts:

The US District Courts in the map provided deal with National (Federal) issues. Each state and local district will have it's own unique courts, cases and rules. None of the State or Local Courts are presented here as this is a map of the National (Federal) Courts.

The Federal Districts for Courts are referred to as Circuits and can be seen in the map below.

CircuitMap - The (Federal) Courts


Outro:

The next time that you see a financial news  article that states, for example 4th Circ. you'll understand from this map the general jurisdiction which is in turn potentially broken out to underlying North, South, east and West sub divisions.


DCarsonCPA.com connecting a line on Government, Industry, Non Profit and Individual Financials for Decision Makers.

For immediate opportunties on Client Services and for the broader opportunities to help on analysis and ideas on places where we can all work together in support of decision makers at the local, state and national levels. Supporting ideas and analysis that can help the Economy present and future for Families, Individuals, Communities and the shared duties we have as Stakeholders and Custodial Trustees in Our shared National Financial Future.

Learn more at www.dcarsoncpa.com or inquire at info@dcarsoncpa.com .

Judicial Reports for 2011

One of the key points to understanding more about our Economy is the important but frequently overlooked role of the Court - "the Third Branch" where important work with Financial Implications is taking place each day.  The workflows of the court may or may not be measurable in Financial terms. where the Courts work to provide safety and justice, not ALL of the work may be summarized in Financial Terms.

The Attached report on the Courts for 2011 is a starting point to learn more from the Administrative perspective. In the world of cost accounting we call activities drivers and they are connected to expenses for purposes of Management Financials. The Framework of Cost Accounting provides a relevant look at Administrative activities in many areas to better evaluate operations and economic impacts. The court has financial elements of Revenues (Fees and Judgements) and Expenses (operations, personnel, facilities, technology, supplies and more), but also a non-financial element of Societal Benefit through supporting the avenue for covering needs in balance for Liberty, Justice and Individual Rights.

The important role of the courts in balance is best explained by the court itself :

http://www.uscourts.gov/FederalCourts/UnderstandingtheFederalCourts/FederalCourtsInAmericanGovernment.aspx

As with any Branch in Government, the Court is an Entity in terms of operations. The additional important function of Justice has very many intangible, non-quantifiable societal benefits. The Framework of Accounting just better explains the operations for understanding. The Courts as the "Third Branch" represent an important and sometimes overlooked element of the Economy.


 Judicial Business 2011

DCarsonCPA for Financial Decision Makers in Government, Industry, Non Profit and Individual capacities. We work with Accounting, Taxes, Business and Financial Analysis, Advisory and Research to support client needs on Services.

For the immediate opportunity on Client Services and the broader opportunity to potentially help on finding points where we can ALL work together to help on ideas for the present and future challenges in Our Shared Financial Future at the Local, State and National levels.

Learn more at  www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

The Economy in Recap / Beige Book for July 2012

 Below please find the July 2012 "Beige Book" the key summary of All Regions in the Economy's activity for the period ended June 2012. Read on to connect directly to the key report on the Economy by region.


Beigebook_20120718


DCarsonCPA at the connecting line of Decision Making to support Government, Industry, Non Profits and Individuals on Financials.


For the immediate opportunity to support your needs on financials, accounting, taxes, financial and business analysis, advisory and more and for the broader opportunity to use the skill set to help work together on the needs of recovery through supporting decision makers with insight.

The First step on problem solving is defining the nature of the problem through growing knowledge that can help. Being informed is a key first step to the path of being able to consider ideas and solutions that may help on the Economy.


Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

DOL / ERISA + Fiduciary Plans: Troubleshooter's Guide to IRS Form 5500 and Form 5500 SF

DOL / ERISA + Fiduciary Plans: The Troubleshooter's Guide to IRS Form 5500 and Form 5500 SF

Troubleshooters Guide


DCarsonCPA at the connecting lines of Government, Industry, Non Profit + Individual Financials and corresponding Decision Making to support Clients on services with active knowledge, hands on skills, teamwork and research. Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

Federal Taxes § 1.641(a)-2 Gross income of estates and trusts.

Connecting with the IRC to let Clients and interested parties know that we are here for you on correponding Services - Todays look connects to Estates and Trust an important intersecting point of  specifically defined Legal  Entity (in this case the Trust) and corresponding Tax Compliance responsibilities.

Trusts are an important area where Legal needs, responsibilities and corresponding Accounting and Tax duties connect. The citation below addresses the start point of Taxation upon the Gross Income of Estates and Trusts through introducing and defining "Gross Income of Estates and Trusts" for Tax Purposes under the IRC.

Our focus is on the Accounting, Tax and Compliance of the matter - for Legal Interpretations and Legal Advice you would need to consult an Attorney.

 

§ 1.641(a)-2 Gross income of estates and trusts.

The gross income of an estate or trust is determined in the same manner as that of an individual. Thus, the gross income of an estate or trust consists of all items of gross income received during the taxable year, including:

(a) Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests;

(b) Income accumulated or held for future distribution under the terms of the will or trust;

(c) Income which is to be distributed currently by the fiduciary to the beneficiaries, and income collected by a guardian of an infant which is to be held or distributed as the court may direct;

(d) Income received by estates of deceased persons during the period of administration or settlement of the estate; and

(e) Income which, in the discretion of the fiduciary, may be either distributed to the beneficiaries or accumulated. The several classes of income enumerated in this section do not exclude others which also may come within the general purposes of section 641.

Citation as of 6/5/12 ALL US Tax Laws subject to change and update and you must confirm as filing or relying.

DCarsonCPA.com your link to accounting, tax, advisory, compliance and other related support services from the practice of Dean T. Carson II, CPA. We work with hands on skills from Financial Services and General Business, knowledge, teamwork and research to support the needs of Financial Decision Makers. Find us on the web at www.dcarssoncpa.com or e-mail info@dcarsoncpa.com .