Sunday, June 28, 2009
Tuesday, October 21, 2008
Saturday, October 4, 2008
Hint: it starts with an "O" and ends in a "bama"
i'm feeling political today.
Dan Charnas is a former A&R at Profile Records and Rick Rubin's American Recordings, and was one of the first writers for The Source (back when people actually read it).
on to bigger and better things:
How We Will Win from Dantrification on Vimeo.
check out more of Dan's musing's here.
There is only one month left.
unfortunately i reside in a red state, which also happens to be the home state of the republican candidate.
so we may not make it blue, but i hope we can at least turn it a little purple.
Also in politics: wooden arrows, rum, and race tracks?
we are in the hole for 700 billion dollars now..
wait.... actually, over 800 billion. but for some reason they continued to refer to the bill as the "700 billion dollar rescue plan." go figure.
to get the second bill to pass, they needed to include some 'extras' in there to convince some representatives to vote in favor of the bill.
below is a top 10 list of the sweeteners from Taxpayers for Common Sense.
1. Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.
Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation.
The Oregon senators were the initial sponsors of the provisions. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon
2. Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
Track owners want to be able write off the cost of their facilities on their taxes over seven years - a depreciation timetable many of them have used for decades. But the IRS has wanted to stretch it to at least 15 years and has raised questions whether the increasingly popular tracks really belong in the same tax category as amusement parks.
Auto track owners are simply trying to get out of paying more taxes - which they'd have to do if they deducted less every year. These owners have gotten plenty of tax breaks over the years from states and localities eager to get speedways. The provision would be extend 2 years till the end of 2009 and would cost 100 million. The provision encompasses all facilities including grandstands, parking lots and concession stands.
3. Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.
Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.
4. Sec. 301. Extension and modification of research credit.
The legislation reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. The two-year extension is estimate to cost $19 billion.
5. Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.
The bailout bill would give a tax break to Exxon Valdez plaintiffs, allowing them to average out their punitive damages awards over three years rather than suffer a one-time tax hit from the Internal Revenue Service as well as other provisions. Rep. Don Young is a big supporter of this provision. Cost is estimated at $49 million dollars.
6. Sec. 601. Secure rural schools and community self-determination program.
Secure Rural Schools (Lead sponsors Reps. DeFazio (D-OR), Bill Sali (R-ID); Sens. Wyden (D-OR), Larry Craig (R-ID) are major boosters of this program that expired in 2006. In 1908 the federal government agreed to share logging revenue from Forest Service land with neighboring communities that could not tax the land because it was federal. As logging declined in the 1990s, the "county payments" program was initiated that directly provided federal funding, more than half going to Oregon, to deal with the loss of revenue in 2000. The original version of this bill was introduced in early 2007 and was estimated to cost $2.2 billion when the OR and ID delegations came to agreement. To give the package more heft, Payment In Lieu of Taxes (PILT) was added to the package, bringing the total cost to $3.3 billion. PILT provides more general funding to counties for federal lands located within their borders. Sen. Reid talked about the PILT program being one of the important elements of the package when the Senate passed the bailout bill.
7. Sec. 201. Deduction for state and local sales taxes.
Allows residents of states that don't pay income tax to deduct sales tax paid over the course of the year from their federal tax. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The bailout bill extends this provision for 2 years at a cost of $3.3 billion.
8. Sec 502. Provisions related to film and television productions
In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed -- that is, fully deducted from income for tax purposes -- in the year the expenditures occur. And makes other favorable tax treatments for production permanent. Historically Rep. Diane Watson (D-CA) has been a supporter (dating from its creation in the 2004 corporate tax bill). The cost is estimated at $478 million over 10 years.
9. Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.
The tariff relief (duty savings) is intended to benefit U.S. worsted wool fabric producers that use imported fibers and yarns as inputs, as well as U.S. tailored clothing manufacturers that use imported fabrics as inputs. This provision was originally introduced as a bill in December 2007 by Reps. Louise Slaughter (D-NY) and Melissa Bean (D-IL). It extends current law provisions until 12/31/14, and in some cases to12/31/15. The 2010 to 2015 cost is estimated to be $148 million.
10. Sec. 309. Extension of economic development credit for American Samoa.
This extends by two years a previously approved tax credit, the American Samoa economic development credit. In general, this credit allows certain corporations operating in American Samoa with a tax credit. The possessions tax credit allows these corporations to offset a portion of their U.S. tax liability on income earned in American Samoa from active business operations, sales of assets used in a business, or certain investments in American Samoa. The cost is $33 million, according to the Joint Committee on Taxation.
Here are some other interesting provisions:
Sec. 201. Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property.
Current law allows taxpayers to write off 50% of the cost of any facility placed in service before January 1, 2013 that produces cellulosic ethanol. This provision expands the types of facilities that may be written off to include production of other cellulosic biofuels in addition to cellulosic ethanol.
Sec. 211. Transportation fringe benefit to bicycle commuters.
Allows employers to provide a benefit to employees for costs associated with bicycle commuting, including purchase and repair of a bicycle, bicycle improvements, and bicycle storage. This provision was proposed in 2007 in the Senate by Sen. Ron Wyden (D-OR) and in the House by Rep. Earl Blumenauer (D-OR). This provision is estimated to cost $10 million.
Sec. 323. Enhanced charitable deductions for contributions of food inventory. .(Page 262)
Extends by two years, until December 31, 2009, a provision allowing for deductions related to the charitable donation of "apparently wholesome food"--defined as food intended for human consumption that meets all quality and labeling standards imposed by law and regulations even though the food may not be readily marketable. This provision also changes the application of the law as it relates to donations by farmers and ranchers. The cost is $149 million, according to Joint Committee on Taxation.
Sec. 324. Extension of enhanced charitable deduction for contributions of book inventory.
Extends by two years, until December 31, 2009, a tax benefit for the contribution of books to public schools. The provision is worth $49 million.
Sec. 602. Transfer to abandoned mine reclamation fund.
Transfers interest earned on money in the abandoned mine reclamation fund to the United Mine Workers of America Combined Benefit Fund, which helps pay health benefits for retired miners and their dependents who worked under collective bargaining agreements that promised lifetime health-care benefits. States with the most miners receiving benefits have historically been Pennsylvania, West Virginia, Kentucky, Virginia and Ohio. This provision extends existing law to include a $9 million transfer for 2010.
nuts...
Dan Charnas is a former A&R at Profile Records and Rick Rubin's American Recordings, and was one of the first writers for The Source (back when people actually read it).
on to bigger and better things:
How We Will Win from Dantrification on Vimeo.
check out more of Dan's musing's here.
There is only one month left.
unfortunately i reside in a red state, which also happens to be the home state of the republican candidate.
so we may not make it blue, but i hope we can at least turn it a little purple.
Also in politics: wooden arrows, rum, and race tracks?
we are in the hole for 700 billion dollars now..
wait.... actually, over 800 billion. but for some reason they continued to refer to the bill as the "700 billion dollar rescue plan." go figure.
to get the second bill to pass, they needed to include some 'extras' in there to convince some representatives to vote in favor of the bill.
below is a top 10 list of the sweeteners from Taxpayers for Common Sense.
1. Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.
Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation.
The Oregon senators were the initial sponsors of the provisions. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon
2. Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
Track owners want to be able write off the cost of their facilities on their taxes over seven years - a depreciation timetable many of them have used for decades. But the IRS has wanted to stretch it to at least 15 years and has raised questions whether the increasingly popular tracks really belong in the same tax category as amusement parks.
Auto track owners are simply trying to get out of paying more taxes - which they'd have to do if they deducted less every year. These owners have gotten plenty of tax breaks over the years from states and localities eager to get speedways. The provision would be extend 2 years till the end of 2009 and would cost 100 million. The provision encompasses all facilities including grandstands, parking lots and concession stands.
3. Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.
Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.
4. Sec. 301. Extension and modification of research credit.
The legislation reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. The two-year extension is estimate to cost $19 billion.
5. Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.
The bailout bill would give a tax break to Exxon Valdez plaintiffs, allowing them to average out their punitive damages awards over three years rather than suffer a one-time tax hit from the Internal Revenue Service as well as other provisions. Rep. Don Young is a big supporter of this provision. Cost is estimated at $49 million dollars.
6. Sec. 601. Secure rural schools and community self-determination program.
Secure Rural Schools (Lead sponsors Reps. DeFazio (D-OR), Bill Sali (R-ID); Sens. Wyden (D-OR), Larry Craig (R-ID) are major boosters of this program that expired in 2006. In 1908 the federal government agreed to share logging revenue from Forest Service land with neighboring communities that could not tax the land because it was federal. As logging declined in the 1990s, the "county payments" program was initiated that directly provided federal funding, more than half going to Oregon, to deal with the loss of revenue in 2000. The original version of this bill was introduced in early 2007 and was estimated to cost $2.2 billion when the OR and ID delegations came to agreement. To give the package more heft, Payment In Lieu of Taxes (PILT) was added to the package, bringing the total cost to $3.3 billion. PILT provides more general funding to counties for federal lands located within their borders. Sen. Reid talked about the PILT program being one of the important elements of the package when the Senate passed the bailout bill.
7. Sec. 201. Deduction for state and local sales taxes.
Allows residents of states that don't pay income tax to deduct sales tax paid over the course of the year from their federal tax. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The bailout bill extends this provision for 2 years at a cost of $3.3 billion.
8. Sec 502. Provisions related to film and television productions
In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed -- that is, fully deducted from income for tax purposes -- in the year the expenditures occur. And makes other favorable tax treatments for production permanent. Historically Rep. Diane Watson (D-CA) has been a supporter (dating from its creation in the 2004 corporate tax bill). The cost is estimated at $478 million over 10 years.
9. Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.
The tariff relief (duty savings) is intended to benefit U.S. worsted wool fabric producers that use imported fibers and yarns as inputs, as well as U.S. tailored clothing manufacturers that use imported fabrics as inputs. This provision was originally introduced as a bill in December 2007 by Reps. Louise Slaughter (D-NY) and Melissa Bean (D-IL). It extends current law provisions until 12/31/14, and in some cases to12/31/15. The 2010 to 2015 cost is estimated to be $148 million.
10. Sec. 309. Extension of economic development credit for American Samoa.
This extends by two years a previously approved tax credit, the American Samoa economic development credit. In general, this credit allows certain corporations operating in American Samoa with a tax credit. The possessions tax credit allows these corporations to offset a portion of their U.S. tax liability on income earned in American Samoa from active business operations, sales of assets used in a business, or certain investments in American Samoa. The cost is $33 million, according to the Joint Committee on Taxation.
Here are some other interesting provisions:
Sec. 201. Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property.
Current law allows taxpayers to write off 50% of the cost of any facility placed in service before January 1, 2013 that produces cellulosic ethanol. This provision expands the types of facilities that may be written off to include production of other cellulosic biofuels in addition to cellulosic ethanol.
Sec. 211. Transportation fringe benefit to bicycle commuters.
Allows employers to provide a benefit to employees for costs associated with bicycle commuting, including purchase and repair of a bicycle, bicycle improvements, and bicycle storage. This provision was proposed in 2007 in the Senate by Sen. Ron Wyden (D-OR) and in the House by Rep. Earl Blumenauer (D-OR). This provision is estimated to cost $10 million.
Sec. 323. Enhanced charitable deductions for contributions of food inventory. .(Page 262)
Extends by two years, until December 31, 2009, a provision allowing for deductions related to the charitable donation of "apparently wholesome food"--defined as food intended for human consumption that meets all quality and labeling standards imposed by law and regulations even though the food may not be readily marketable. This provision also changes the application of the law as it relates to donations by farmers and ranchers. The cost is $149 million, according to Joint Committee on Taxation.
Sec. 324. Extension of enhanced charitable deduction for contributions of book inventory.
Extends by two years, until December 31, 2009, a tax benefit for the contribution of books to public schools. The provision is worth $49 million.
Sec. 602. Transfer to abandoned mine reclamation fund.
Transfers interest earned on money in the abandoned mine reclamation fund to the United Mine Workers of America Combined Benefit Fund, which helps pay health benefits for retired miners and their dependents who worked under collective bargaining agreements that promised lifetime health-care benefits. States with the most miners receiving benefits have historically been Pennsylvania, West Virginia, Kentucky, Virginia and Ohio. This provision extends existing law to include a $9 million transfer for 2010.
nuts...
Sunday, September 21, 2008
Count Bass D- Robbed Without A Pistol
free download available courtesy of Count Bass D
features alot of the instrumentals that have been posted to his myspace page recently, as well as a few older instrumentals.
"Everyone can not afford to purchase music in these days & times so here is my gift to all those people.
Thank you in advance for any show of support." -Count Bass D
this LEGAL download is to help curb any ILLEGAL downloading of his new project L7 (mid life crisis) being released on 1320 records next month (10.7.08).
Support!
Thursday, September 18, 2008
and i'm a pc...
i just caught microsoft's response to the apple "i'm a mac" ads. they seem to be embracing the "i'm a pc" with cameos by Tony Parker and Pharrell, among others.
well done ad, in my opinion.
i use both a mac (as i write this) and a pc, and ironically use the pc for audio work. for those who don't know, mac is pretty much the standard for pro audio work. with the way technology continues to change every two years (Moore's Law), and the ability to customize the pc for alot less than a mac, i have stuck with the pc. i don't know if it is because i am optimizing these computers for audio work, but i have yet to have any major problems with a pc.
Friday, September 12, 2008
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