Proposed Estate Tax Regulations Threaten Family Businesses

first_img SHARE SHARE Facebook Twitter By Hoosier Ag Today – Sep 29, 2016 Facebook Twitter WASHINGTON (Sept. 28, 2016) – The National Cattlemen’s Beef Association along with more than 3,800 organizations and family-owned enterprises sent a letter to Treasury Secretary Jacob Lew adamantly opposing and asking for withdrawal of the newly proposed estate tax regulations by the Department of Treasury. The proposed regulations under section 2704 of the Internal Revenue Code would permanently change estate planning for families that own a controlling interest in a privately-held entity. “The proposed guidance is one of the most sweeping changes to estate tax policies in the last 25 years and would be detrimental to active enterprises and family-owned businesses that employ millions of workers throughout the nation,” the letter reads. “In particular, these rules would impose significant new tax costs on family-owned businesses, diverting capital from business investment, costing jobs and threatening the ability of families to pass businesses on to the next generation of owners.”Danielle Beck, NCBA director of government affairs, said the regulations would eliminate or greatly reduce available valuation discounts for family-related entities, which in turn increase the tax associated with common transfers including inheritance. “These proposed regulations would eliminate or greatly reduce marketability for family related entities, effectively discouraging families from continuing to operate or grow their businesses and pass them on to future generations,” said Beck. “Producers are often forced into selling land or cattle in order to pay the tax, and in some cases, are put out of business. The Administration is causing unnecessary economic harm to family businesses.”NCBA urges the Department of Treasury to withdraw the proposed estate tax regulations. Home Indiana Agriculture News Proposed Estate Tax Regulations Threaten Family Businesses Previous articleGrains Council, Renewable Fuels Association Disappointed in China DDGs DeterminationNext articleTax Deferred Savings Bill for Farmers Introduced in Congress Hoosier Ag Today Proposed Estate Tax Regulations Threaten Family Businesseslast_img read more

Brindisi gives Seton Catholic student pat on the back for app award

first_imgBINGHAMTON (WBNG) — One Seton Catholic High School student received major kudos from Congressman Anthony Brindisi Tuesday for an app he created. Brindisi explained, “We wanted to introduce this app challenge across the congressional district to really encourage students to take an interest in STEM and developing apps and Luke did a wonderful job that our judges felt really blew them away and we’re so proud to be able to present him with the certificate today and very excited to have him come down to Washington.” Redmore’s app, called Catholic Schools of Broome County, has been up and running for almost a year now. It includes everything from schedules to lunch menus and athletic events for the four county catholic schools. Redmore said, “Just to highlight the community we have here at Seton to just the opportunity we have for students to get involved and make a difference with their community, with their peers and even though we’re a small community all of us can really make a difference so I’m really glad that I got to be a part of that difference.” The challenge was aimed to get students in grades six through 12 to think of an app and design it. Brindisi stopped at Seton Catholic to congratulate Senior Luke Redmore on winning the 22nd Congressional District App Challenge Award back in December.center_img The school district said Redmore’s latest add-on to the app is the creation of a scavenger hunt for elementary school students to use at this weeks S.T.E.A.M. fair on Thursday February 20. This is Redmore’s first app which he said has 1,500 to 2,000 users. Redmore will join students from not only New York, but across the country who also designed apps in their districts down in Washington, D.C. in the coming months. The district said Redmore is one of 15 students to receive the award in New York.last_img read more

Zidane expects Real to ‘suffer’ in Paris after first-leg win

first_img0Shares0000Cristiano Ronaldo scored twice as Real Madrid came from behind to beat PSG 3-1 in their Champions League last 16, first leg © AFP / CHRISTOPHE SIMONMADRID, Spain, Feb 15 – Zinedine Zidane warned his Real Madrid players that they can expect to suffer in the return leg of their Champions League tie with Paris Saint-Germain despite seeing Cristiano Ronaldo inspire a 3-1 comeback victory on Wednesday.The reigning European champions stunned the PSG of Neymar in the last 16, first-leg showdown with two goals in the final seven minutes at the Santiago Bernabeu from Ronaldo and Marcelo. Ronaldo had earlier drawn Madrid level with his 100th Champions League goal for the club from the penalty spot on the stroke of half-time, cancelling out Adrien Rabiot’s opener for the French side.“We can afford to have a bit of euphoria tonight. We have to be satisfied, and enjoy this,” said Zidane.“But there is a second leg to come where we will need to play with a lot of intensity. We know we are going to suffer.”Real had already suffered for large spells of Wednesday’s match, before PSG collapsed defensively in the closing stages, unable to adjust after Zidane sent on Marco Asensio.Striker Asensio set up the two late goals, and Zidane will take plenty of credit for the impact his substitutions had on the game just when it looked as though PSG would leave the Spanish capital with the edge in the tie.Zidane, under pressure because of Real’s indifferent domestic form, again saw the Champions League bring the best out of his team and Ronaldo.“With Ronaldo it’s difficult to always say the same thing. He has shown once again that he always turns up in the big games,” said Zidane, after the Portuguese became the first player to score 100 Champions League goals for the same club.He has scored 11 this season in Europe in just seven matches, and he won the battle of the superstars at the Bernabeu with PSG’s Neymar.“Real Madrid love the Champions League and as players we can feel that on the pitch,” Ronaldo said after collecting his man of the match prize.“Today things worked out for me, scoring two goals and helping the team win, but we know the tie is not finished yet.”– Soft penalty, say PSG –Neymar had his moments but it was a frustrating night on the whole for PSG’s Brazilian superstar in Madrid © AFP / CURTO DE LA TORREWhile Real are looking to win the European Cup for the third year running — something no club has done since Bayern Munich in 1976 — and the 13th time overall, PSG risk seeing their wait for a first Champions League crown go on.A year after they fell apart in historic fashion to lose 6-1 in Barcelona at the same stage of the competition after winning 4-0 at home, here was another late collapse on Spanish soil.Coach Unai Emery surely needs to win this tie to remain in the job, but he took big decisions that backfired.Captain Thiago Silva was left out, 21-year-old Giovani Lo Celso started in midfield and Angel Di Maria stayed on the bench even when Edinson Cavani came off in the second half.“The team played well and deserved better. We have to be optimistic and positive for the match in Paris. We still have a good chance of getting through,” claimed Emery, who has drawn once and lost 10 times in 11 visits to the Bernabeu as a coach.Emery tried to turn the focus on Italian referee Gianluca Rocchi, saying the penalty the hosts got for a Lo Celso challenge on Toni Kroos was soft. He also felt his side should have had a spot-kick for a Sergio Ramos handball.“When we play against a big team, it’s the same, always,” bemoaned PSG president Nasser Al Khelaifi.“Last year against Barcelona, this year against Real Madrid. OK, Real Madrid are a big club, but that’s enough now. UEFA have to do something.”0Shares0000(Visited 1 times, 1 visits today)last_img read more