Your Look At Things You Need To Know For Your Wednesday

As you face your day, Smile Often, Think Positively, Give Thanks, Laugh Loudly, Love Others ,Dream Big, Remember, Life is like a Camera, Focus on What’s  Important, Capture The Good Times, Develop From The Negative and If Things Don’t Work out, Take Another Shot. Difficult Roads Often Lead To Beautiful Destinations.

Many find that their anxiety levels will go up when they watch cable news, which causes many to avoid cable news or information that would otherwise help or hurt our society. ” The Government of the people, by the people, shall not perish from the Earth.” Abraham Lincoln.

Stay engaged in the business of OUR SOCIETY, take a break if you get overwhelmed. But equipped yourself with information so that you can make a educated decision that will impact OUR SOCIETY in a positive way. TAKE A BREAK, BUT,  Don’t Quit.

here’s what you need to know to Get Up to Speed

January 10, 2017

 House Republicans unveil stopgap spending proposal to avert shutdown
House Republican leaders proposed a fourth stopgap spending measure to their caucus on Tuesday night, aiming to keep the federal government funded for another month beyond a Friday shutdown deadline. The measure includes delays to several taxes under theAffordable Care Act — a sweetener for conservatives and Democrats alike. It also extends a popular children’s health insurance program, a goal for Democrats. The House Freedom Caucus is threatening to sink the bill in the House. Republicans almost surely will need some Democratic votes to get the measure through the Senate, and Democrats are threatening to block it if it doesn’t include protections for young undocumented immigrants known as DREAMers. House GOP leaders are aiming for a Thursday vote.

Source: The Washington PostPolitico

 Mueller subpoenas Bannon in Russia inquiry
Special Counsel Robert Mueller’s team has issued a subpoena for former White House chief strategist Stephen Bannon to testify to a grand jury in the investigation into Russian election meddling and possible collusion by President Trump’s associates, The New York Timesreported TuesdayThe move came after Bannon was quoted in Michael Wolff’s new book Fire and Fury saying a meeting between Trump associates, including Donald Trump Jr., and a Russian lawyer, was “treasonous.” Bannon testified behind closed doors Tuesday to theHouse Intelligence Committee for its Russia inquiry, but refused to answer questions about his work for Trump, even after the committee issued a subpoena on the spot. “This was effectively a gag order by theWhite House,” said Rep. Adam Schiff (D-Calif.). A person familiar with Bannon’s thinking, however, told The Daily Beast he’s willing to tell Mueller everything.

Source: The New York TimesThe Daily Beast

 DOJ asks Supreme Court to overturn DACA ruling, bypassing appeals courts
The Justice Department said Tuesday that it would take a “rare step” to bypass an appeals court and directly ask the Supreme Court to overturn a judge’s ruling blocking President Trump’s move to end an Obama-era program shielding hundreds of thousands of young undocumented immigrants from deportation. Trump in September said he was unwinding the Deferred Action for Childhood Arrivals (DACA) program, arguing that former President Barack Obama overstepped his authority when he started the program in 2012 to protect undocumented immigrants brought to the U.S. as children. A judge last weektemporarily blocked Trump’s order, saying the immigrants should be allowed to stay until challenges work their way through the courts. Lawmakers are currently working on a deal to revive the program.

Source: Reuters

 White House doctor says Trump ‘very healthy’
The lead White House doctor, Ronny Jackson, said Tuesday that President Trump requested a cognitive test as part of his first formal medical exam since taking office, and he “did exceedingly well.” Jackson said Trump scored 30 out of 30 in the Montreal Cognitive Assessment, which is designed to detect mild cognitive impairment, primarily in older patients. In the test, patients are asked, among other things, to name several animals and draw a clock with the hands indicating a certain time. Jackson said he saw “no indication whatsoever” that Trump has any cognitive problems. Jackson said medical tests showed Trump to be “very healthy,” although at 6-foot-3 and 237 pounds, he is overweight and nearly obese.

Source: The Washington Post

 Ex-CIA officer charged with betraying U.S. spies in China
A former CIA officer, Jerry Chun Shing Lee, long suspected of helping China identify U.S. spies and informants, has been arrested, the Justice Department said Tuesday. Lee, who stopped working for the CIA in 2007, was charged with keeping and traveling with notebooks containing classified information. The books, which agents found in Lee’s luggage when he traveled to the U.S. in 2012, contained the real names and phone numbers of CIA informants and undercover agents. The FBI launched an investigation that year after the CIA started losing informants in China. More than a dozen CIA informants wound up being killed or imprisoned by China in a devastating setback for theU.S. spying network.

Source: PoliticoThe New York Times

 U.S., allies call for increasing pressure on North Korea
The U.S. and other participants in a 20-nation meeting on Tuesdaycalled for increasing pressure on North Korea to abandon its nuclear weapons program. “We must increase the costs of the regime’s behavior to the point that North Korea must come to the table for credible negotiations,” said Secretary of State Rex Tillerson, who co-hosted theone-day meeting with Canada in Vancouver. Japanese Foreign Minister Taro Kono said the world should not let North Korea’s recent “charm offensive,” including talks with South Korea, erode commitments to staying tough. “It is not the time to ease pressure, or to reward North Korea,” he said. “The fact that North Korea is engaging in dialogue could be interpreted as proof that the sanctions are working.”

Source: Reuters

 Danish inventor formally charged with journalist Kim Wall’s murder
Danish authorities have formally charged Danish inventor Peter Madsen with the murder of the Swedish journalist Kim Wall. A Danish prosecutor, Jakob Buch-Jepsen, said Tuesday that Madsen, 46, either strangled Wall or slit her throat after she went to interview him on his self-built submarine last August. Her headless and dismembered torso was found floating off the coast of Copenhagen 10 days after she went missing. Her head, legs, and clothes were found in the ocean, enclosed in bags, in October. Madsen also was charged with sexual assault, without intercourse. Madsen at first claimed that Wall, 30, died in “a terrible accident” when a hatch cover fell on her head. He later said she died of carbon monoxide poisoning, and admitted to dismembering her body.

Source: The Guardian

 90 victims to speak in former gymnastics team doctor’s sexual abuse sentencing hearing
Nearly 90 women plan to talk about sexual abuse against them by former USA Gymnastics doctor Larry Nassar during his four-day sentencing hearing, which began Tuesday. Nassar pleaded guilty to sexually assaulting seven girls, but the judge in the case is letting any of his more than 140 accusers speak if they ask. The first accuser to speak on Tuesday was not one of the dozens of gymnasts who have accused him of abuse, but a family friend who said Nassar molested her at his house, causing a family rift when her parents didn’t believe her. On Monday, Olympic gold medalist Simone Biles said she, too, was one of Nassar’s victims. Her teammates McKayla Maroney, Aly Raisman, and Gabby Douglas had previously disclosed that they were sexually abused by Nassar.

Source: NPR

 Bitcoin prices fall as crackdown fears persist
Bitcoin plunged by as much as 25 percent to a six-week low early Wednesday due to growing fears of a regulatory crackdown in South Korea. Seoul has walked back a vow to ban sales of Bitcoin, but thecountry’s finance minister, Kim Dong-yeon, said “the shutdown of virtual currency exchanges is still one of the options” open to thegovernment. Reports last week said South Korea was working on discouraging speculative cryptocurrency trading behind their meteoric rise this year. South Korea said it wouldn’t make a move until it had time for “sufficient consultation and coordination of opinions.”

Source: ReutersCNBC

 Navy files negligent homicide charges against ship officers over fatal collisions
The Navy announced Tuesday that it would charge the former commanding officers of the USS Fitzgerald and USS John S. McCain with criminal charges for two deadly 2017 collisions that killed 17 sailors. Three other officers also face charges. Adm. Frank Caldwell, one of the lead officers in the investigation, determined the charges could include dereliction of duty, hazarding a vessel, and negligent homicideThe commanding officers, Cmdr. Bryce Benson of the Fitzgerald, and Cmdr. Alfredo J. Sanchez of the John S. McCain, were relieved of their duties after the crashes, as were their second-in-commands.

Source: CNNThe New York Times

The Week


Upcoming Important Deadlines-

(411 on Business & Real Estate Taxes  )

Courtesy of Mark J Kohler, CPA, Attorney, and Mathew N. Sorensen, Attorney..

January 31st:

       – 1099 Forms Must be Issued – Give Form 1099 information statements to the recipients of certain payments you made for services during 2017. Read this important article here. This can include independent contractor compensation, interest on seller financed mortgages, rent, professional services fees, real estate transactions, profit-sharing and pension plan distributions. If you need help with 1099’s, please call Josie Stewart in our office at 435-865-5866 or reach her at  

       ALL Payroll Tax Reports Due – Issue W-2 forms to all Employee, and File Form 941 (payroll tax) and 940/944 (unemployment tax) for the 2016 tax year, and don’t forget any State Forms. If you are a K&E Payroll Services plan, we will be automatically preparing these forms for your signature.

* If you have an S-Corporation, you may need to file whether or not you made money in 2017. (Talk to our Payroll team and contact Josie at

** Make sure your health insurance payments and 401k deferral is included on your W-2 Forms.


Forward Guidance

GOP making progress on avoiding shutdown, Bitcoin looks like a bursting bubble, and big bank earnings due.

Extend and… extend?

House Republicans are close to agreeing a short-term funding bill that would keep the government open through Feb. 16, with the proposal including an extension to the Children’s Health Insurance Program in the hope that will be enough to spur sufficient Democrat support. A vote on the proposal is likely tomorrow. Elsewhere in Washington, Special Counsel Robert Mueller’s Russia investigation continues, with former White House chief strategist Steve Bannon subpoenaed for a meeting later this month.

Bitcoin fizzle

Bitcoin’s 23 percent crash has some calling time on the speculative mania that drove the cryptocurrency close to $20,000 last month. The digital token was trading at $10,355 at 5:45 a.m. Eastern Time, with peers in the line of fire, as investors mull what may pop the bubble once and for all.

Bank earnings

Goldman Sachs Group Inc. reports fourth-quarter results before the bell this morning, with analysts expecting adjusted earnings per share of $4.90. The bank’s fixed-income trading will be one of the key measures watched, with any effects from tax reform likely to drive headline financial performance. Bank of America Corp. also reports today.

Stocks slip

Overnight, the MSCI Asia Pacific Index dropped 0.1 percent, while Japan’s Topix index closed 0.2 percent lower as the yen rose against the dollar. In Europe, the Stoxx 600 Index was 0.1 percent lower at 5:45 a.m., as ECB Vice President Vitor Constancio said the monetary authority is in no rush to change stimulus plans. S&P 500 futures added 0.2 percent, the 10-year Treasury yield was at 2.554 percent and gold was slightly higher.

Canada rate decision

There’s excitement north of the border today as the Bank of Canada’s rate decision due at 10:00 a.m. is expected to deliver the third increase since July following this month’s surprisingly strong jobs data. The one fly in the ointment is the risk of a possible U.S. withdrawal from Nafta talks, which may prompt a “hawkish hold’’ by the BoC.

Here’s what you should read today


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