Tax

Hey guys,

If I have an internship offer from both KPMG and PWC in tax for NYC which should I take? I liked the people and environment much more at KPMG and they also offered to pay me more. KPMG offered around $30 an hr and I know friends who just accepted fulltime offers with a starting salary with a Master's in tax of $72,000+(5k signing bonus). PWC offer was about $27/hr and starting salary was low 60's. I really just didn't like the environment or people at PWC. My only fear is the PWC has a much better client base and KPMG I think is having tough times. Do you think accepting an offer at KPMG is risky? Will there be layoffs or a possible reneg of my offer from KPMG? What should I do?

Without getting into a debate about Obama and his policies, I'm just trying to see if anyone has a legitimate detailed version of his tax plan. The one on his website is pretty worthless. It gives no hard percentages and the examples it gives are for married couples with children and property, and it only goes to $90,000 anyways. Ideally what I'd like to see is a chart for Obama's tax plan for individual tax-payers with no children or real estate going from $75,000 to $350,000. If anyone has seen anything like this, let me know.

10k signing turns into 6k in the bank. What exactly is the reason for 40%?

This briefly came to mind when the merger was announced, but the curiosity has gotten the better of me, so I'm hoping the experts here can shed some light on this.

If some of you recall, FT (amongst others) ran an article in mid-August describing how Merill booked their credit derivative losses ($29B or so worth) though their UK subsidiary, where net losses can be carried forward to future years as a tax credit. (article here: http://www.ft.com/cms/s/0/369b723e-6a52-11dd-83e8-0000779fd18c.html)

After the merger, what becomes of this credit? (arguments against the validity of this accounting trick aside)

I'm assuming this will depend in part on the way the UK entity now fits inside the global corporate structure, something which I admittedly know next to nothing about right now.

Hey Folks,

What are your thoughts on the proposed Trouble Asset Relief Program (TARP) that Hank Paulson continually is banging on the table this past weekend? The chief concern of most people (including myself) are the necessary oversight measures that will be placed into the program and to ensure that the American taxpayer won't be screwed over by purchasing bad debt from banks at overvalued prices.

$700B is too high of a price tag for the American people to receive nothing tangible other than "improved market sentiment."

For more info checkout the following Bloomberg article or the NYTimes article.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1zdgVfpxvWA&refer=h...

http://www.nytimes.com/2008/09/21/business/21gret.html?_r=1&8dpc&oref=lo...