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Assistance Retraite – Novelvy – France

mcgintl — Fri, 17 Feb 2012 20:43:13 +0000

La société Assistance Retraite exerce, depuis 25 ans, une activité exclusivement centrée dans le domaine des droits à la retraite des régimes obligatoires. Elle ne fournit à ses clients que des prestations de service qu’elle réalise en toute indépendance car ne commercialisant aucun produit d’assurance ou produit financier.
La société emploie 13 personnes et ses bureaux sont localisés à Nanterre en région parisienne. Elle commercialise ses services sous la marque Novelvy.
Le tiers de sa clientèle de la société se compose d’expatriés. Deux types de mission sont réalisés pour eux :
-       Une étude Bilan Retraite (reconstitution et vérification des droits acquis, projection dans le futur suivant différents scénarios définis au début de la mission) afin que leurs clients puissent être informés précisément de leur situation leur permettant ainsi de prendre des décisions pour le futur en toute connaissance de cause (âge de liquidation des droits, rachat ou non de trimestres, cotisation ou non à la CFE et aux caisses complémentaires …). L’étude livrée est un véritable scanner de leur situation en matière de droits à la retraite et transforme une image qui était souvent floue pour eux en une image limpide qui répond à leurs questions.
-       La prise en charge des opérations de liquidation de retraite lorsqu’ils ont décidé de leur date de liquidation des droits. La société s’occupe alors de l’ensemble des opérations avec les différents organismes de retraite jusqu’à l’émission des notifications définitives et jusqu’au premier versement de chaque organisme. Un livret retraite, document récapitulatif des retraites et des pensions de réversion associées, vient clore la mission.
Assistance Retraite a des clients expatriés dans près de 25 pays. Ses représentants rencontrent certains de leurs clients lors de déplacements à l’étranger. D’autres rencontres ont lieu lorsque les expatriés sont de passage à Paris. Dans de nombreux cas aussi, toutes les communications se seront faites par mail et par téléphone. Un entretien téléphonique au début de la mission est nécessaire pour remplir la lettre de mission qui est ensuite transmise par mail pour signature.
La société travaille aussi avec des DRH d’entreprises qui gèrent des populations d’expatriés et qui souhaitent amener à leurs salariés une information complète sur les conséquences sur leurs retraites d’un changement de statut.
Pour toute information complémentaire, vous pouvez contacter le Directeur de la société Assistance Retraite, Bruno RENARDIER, qui répondra à l’ensemble de vos questions.
Tel :       + 33 1 41 37 98 20
Mobile : + 33 6 18 57 77 45
Mail : bruno.renardier@novelvy.com
Vous pouvez aussi obtenir plus d’informations sur la société en allant sur le site www.novelvy.com
Vous y trouverez en particulier la lettre d’information d’Assistance Retraite à destination des expatriés émise en novembre 2011.

Offense and defense are key to your financial game plan

mcgintl — Wed, 08 Feb 2012 06:50:34 +0000

Offense and defense are key to your financial game plan
On the road to the Super Bowl, offensive and defensive strategies are essential to winning the game. The same is true in your game plan for financial security. Whether you are calling plays in the National Football League or working to fund your most important personal goals, you need both strong offense and defense.
Adapt strategies as the game changes

Developing winning strategies and adapting them as changes dictate leads to success in both sports and in financial security. In your personal financial plan, a strong “defense” helps you manage risk, providing a back-up plan to protect against life events that can impact your long-term security. Your “offense” includes various strategies to accumulate wealth over your lifetime to ultimately meet your financial goals. Having both defensive and offensive strategies in place not only moves you forward on the path to financial security, it gives you the confidence to take advantage of opportunities that may arise along the way.
By helping you explore your specific goals and future needs, your financial representative will develop a comprehensive financial plan that can be the basis for meeting your long-term goals. As your life changes dictate adjustments over time, you would adapt and incorporate the appropriate defensive and offensive strategies to suit your specific situation.
Your defense, strategies that protect against risk, could include:

Emergency fund – Covers at least six months of living expenses in an easily accessible cash fund
Disability insurance – Helps protect your income by providing a benefit if you should become unable to work due to illness or injury
Long-term care insurance – Helps protect retirement assets by covering potential costs of nursing home and assisted living care
Permanent life insurance – Builds cash value over the long term, provides insurance coverage for your lifetime and provides a benefit to beneficiaries upon death
Term life insurance – Provides a death benefit for a specified time or up to a certain age
Property and casualty insurance – Protects against loss or damage to home, car and belongings

Your offense, strategies that fuel accumulation, may include:

Annuities – Fixed or variable-rate contracts that provide a deferred or immediate payment at regular intervals for a predetermined period or for life
Cash or cash equivalents – Money set aside in money market funds or savings accounts that is readily accessible
Certificates of Deposit – Vehicles in which a specific amount of money is deposited for a specified period of time and guaranteed to earn a set interest rate
401(k) plans – Employer-sponsored qualified retirement plans – with or without employer matching contributions – that allow eligible employees to save for retirement with payroll deductions into tax-advantaged plans
Education funding – College savings plans including 529 plans which contributions by parents or others grow on a tax-deferred basis for use by the future student who is named beneficiary of the plan
Equities – These include individual stocks, mutual funds and exchange-traded funds (ETFs). These assets might include large cap, mid cap or small cap funds, international funds, real estate or commodities funds. Equity securities are allocated to your portfolio based on your long-term investment strategy reflecting your risk tolerance, time horizon and goals.
Fixed Income – Securities that pay a fixed rate of return. This category includes government, corporate and municipal bonds as well as money market instruments and preferred stock. Like equities, fixed income securities are allocated based on your long-term investment strategy.
Individual Retirement Accounts – Personal accounts that allow you to set aside dollars for retirement on a tax free or tax-deferred basis in addition to your employer-sponsored 401(k) plan. Different rules and tax advantages apply depending on whether the fund is a traditional IRA, Roth IRA, Roth Conversion IRA or a Rollover IRA.
Real estate – Your primary home or other real estate investments contribute to your long-term financial security and therefore are part of your financial strategy.
As you navigate the stages in your life, the defensive and offensive strategies in your financial game plan will change to adapt to your specific needs. Whether you focus on covering critical risks as you build college and retirement savings as a young parent, or seek to protect your assets to ensure lifetime income as you retire, your financial advisor can help you find the winning plays to achieve your long-term goals.
by
Ed Knox, CLU CLTC
3400 SW 27th Avenue Suite # 1502 Miami, FL 33133
Work : 305-677-0652
Successful people consistently do what others can do BUT don’t..

EU sets Gold Standard for data security in the Internet age

mcgintl — Sat, 04 Feb 2012 23:51:08 +0000

by Jay A. Scaramazzo, MBA,CIA,CISA,CRISC,CIFE, GLOBAL Change Management Specialist/Lead Auditor, United States
http://internal-auditing.com/art.asp?n=311

Disability Insurance Update – USA

mcgintl — Wed, 11 Jan 2012 21:56:53 +0000

Where does DI fit within the financial planning process?

Financial planning begins and ends with income planning. Unless you first protect a wage earner’s income, there cannot be a financial plan! A financial plan is not a financial plan without involving disability insurance.

Why is Group LTD inadequate?

With Group LTD, you are just a tenant. You are not in control because you do not own the policy. It can be taken from you in an instant. Your employer may give it up. The insurer may decide to stop insuring the group. You are at their mercy. Additionally, Group LTD typically only covers your base salary, therefore bonuses, commissions, incentives, deferred compensation, stock options and pension contributions are generally not covered. In most claim scenarios, people are very disappointed with the inadequacy of Group LTD.

How does DI differ from Long Term Care?

Simple- DI pays you and LTC pays someone else who is providing the care service.

How does DI differ from Life Insurance?

When it comes to income replacement and asset conservation, there is no difference. The difference between the two types of insurance is you’re either above or below 6 feet of dirt. The main concept to think about is that the chances of becoming disabled are much greater than dying prematurely.

How much DI should I have?

You should have as much DI as possible. No less than 65% of your gross income is considered adequate. We have not met anyone on claim that has told us that their benefit is more than enough. Unfortunately, when you’re disabled, the truth is always the opposite. There is never enough money. This is why Supplemental Disability Insurance is often necessary to adequately protect a person’s income.

by

Ed Knox, CLU CLTC
3400 SW 27th Avenue Suite # 1502 Miami, FL 33133
Work 305-677-0652

French Tax Changes 2011/2012

mcgintl — Thu, 15 Dec 2011 10:36:34 +0000

French Tax Changes 2011/2012

The amended Budget for 2011 has been adopted by the French Government and will

be debated in Parliament in June-July.

There was some recent discussion as to the possible abolition of Wealth Tax widely

reported in the press. This will not happen, but changes have been proposed

together with some amendments to Gift and Succession Tax as well as other taxes.

Further changes may result from the Parliament debates so the following should be

regarded as conditional.

The “fiscal shield”

The so-called Bouclier Fiscal limiting the total amount of your taxes to 50% of your

income is to be abolished. (Please note that this only concerned French tax

residents).

Wealth Tax – Impôt de Solidarité sur la Fortune (ISF)

The threshold at which liability for ISF arises will be increased from €800,000 to

€1,300,000.

The number of tax bands will be reduced from six to two – 0.25% if assessable wealth

between €1.3m and €3m, and 0.50% if above this figure. However, ISF will now be

levied on the full amount, not merely that part above the threshold.

For those with wealth of less than €3m, there will no longer be a requirement to file a

separate wealth tax return. It will be included in their French income tax return.

It is anticipated that the ISF reforms will be effective retrospectively from January

2011.

Gift and Succession Tax

It has been possible to give away €159,325 to a child and €80,724 to a spouse tax

free with a cumulation period of six years. This is to be extended to 10 years.

The top two Gift and Succession Tax rates between parents and children and

spouses/civil partners will be increased from 35% to 40% and from 40% to 45%. Capital Gains Tax

There is to be an “Exit Capital Gains Tax” on those ceasing to be resident in France,

but the details are not yet clear and the compliance of the tax with EU regulations is

questionable. Non-residents may remain liable for CGT on later disposal, but only for

the portion of the gain that accrued whilst they were resident.

French second home

French second homes owned by non-residents should be subject to an annual 20%

charge on their deemed rental value. Again the details are not yet clear and the

compliance of the tax with EU regulations is questionable.

French expats

Finally the French income of French nationals living abroad will be subject to Income

Tax at the normal rate instead of the current 20% withholding tax. This however will

require to be amended most of the double tax treaties signed by France with its

neighbouring countries.

Trusts

The other major changes proposed relate to the taxation of assets held in Trusts.

These proposals have yet to be approved by the French Parliament in June 2011, so

that there may yet be further changes.

Generally there is no recognition of trusts under the French civil code and therefore

their tax effects have been uncertain. The proposal is to define the taxation effects of

lifetime transfers and transfers on death through trusts and the Wealth Tax rules for

assets held in trusts.

- Wealth Tax – Impôt de Solidarité sur la Fortune (ISF)

From 1 January 2012 French situs assets held in trusts and all assets worldwide held

in trusts of which the settlor or the beneficiaries are French resident will be subject to

ISF at 0.50% (the new top rate) with no de minimis level or nil rate bands. The ISF

would be payable by the settlor or beneficiaries who would have a right to reclaim

from the trustees.

ISF would not be due if the settlor or beneficiaries are subject to ISF and have

included the assets in their income tax or ISF return for ISF purposes.

- Gift and Succession Tax

These changes will be effective from the date the Finance Bill comes into force -

June or July 2011.

If beneficiaries are individually identified and their share in the trust is fixed, then they

will be liable for gift or succession tax in the usual way on distributions or on the

share of the trust depending on whether the settlor is alive or dead.

In other circumstances, tax is payable on the death of the settlor.If beneficiaries are not individually identified but are descendants of the settlor and

provided that the settlor was not French resident at the time of creation of the trust

and provided that the trust is not governed by the law of a “non co-operative state”,

they will be liable to tax at the marginal rate of 45%.

In other cases, the beneficiaries will be liable to gift or succession tax at 60%. The

implication is that these higher rate taxes will be due whether assets remain in trust

or are distributed and payable again on the subsequent death of beneficiaries.

Actually paid expense deduction – Mexico

mcgintl — Mon, 05 Dec 2011 20:26:37 +0000

Mexico:
Is approaching the end of the year and is appropriate to review the fiscal requirements that must be met to making deductions for income tax (ISR).
ACTUALLY PAID EXPENSE DEDUCTION
Taxpayers wishing to deduct the expenses incurred as individual taxpayers, companies or cooperative societies engaged in trucking carriers land cargo or passengers, civil society (CS), civil associations (AC) and taxpayers who receive donations, Article 31 Fraction IX of the Income Tax Law, states that for appropriate deduction, the above expenses must be actually paid in the year in which it is intended deduce, for these purposes are “actually paid” when made by any of the following ways:

be paid in cash

be paid by check

By bank transfer

be paid in goods (other than debt securities)

When the creditor is satisfied by any form of extinction of obligations.

In the case of payment by check is considered actually paid on the date that it has been charged in this case the deduction shall, whenever you enter the date entered in the supporting documentation (invoice or receipt) and the effective date of the check will not be charged been more than four months. Important is to consider the above in order to meet the requirements for appropriate deduction of the expenses mentioned above.

New taxes in France

mcgintl — Thu, 01 Dec 2011 16:41:48 +0000

New French tax measure: One of the most severe austerity of the second was passed in the night of November 30, 2011 by the deputies. The reduced rate of VAT was increased, with exceptions, from 5.5% to 7% from 1 January 2012. A rate similar to that practiced in Germany, and who should go next year an additional 1.8 billion euros in state coffers. In order not to tax too heavily the sector of hotels and restaurants, MEPs on Wednesday night but deleted the 2% tax on stays in luxury hotels in more than 200 euros introduced in September.

Credit Score explanation

mcgintl — Fri, 21 Oct 2011 19:29:18 +0000

Credit Score
The video below explains what Credit Score is, and what influence it will have on your financial life in the U.S.

In the United States, a credit score is a number based on a statistical analysis of a person’s credit files, that in theory represents the creditworthiness of that person, which is the likelihood that people will pay their bills. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, TransUnion, and Equifax. Income is not considered by the major credit bureaus when calculating a credit score.
There are different methods of calculating credit scores. FICO, the most widely known type of credit score, is a credit score developed by FICO, previously known as Fair Isaac Corporation. It is used by many mortgage lenders that use a risk-based system to determine the possibility that the borrower may default on financial obligations to the mortgage lender. All credit scores have to be subject to availability. The credit bureaus all have their own credit scores: Equifax’s ScorePower, Experian’s PLUS score, and TransUnion’s credit score, and each also sells the VantageScore credit score. In addition, many large lenders, including the major credit card issuers, have developed their own proprietary scoring models.
Studies have shown scores to be predictive of risk in the underwriting of both credit and insurance. Some studies even suggest that most consumers are the beneficiaries of lower credit costs and insurance premiums due to the use of credit scores.
Recently, many jobs are using pre-employment credit checks and the trend appears to have grown since 2000 within the United States.It is to be noted that credit checks used to determine hire eligibility differ from a standard credit check in that they do not include a credit score.
Americans are entitled to one free credit report within a 12-month period from each of the three credit bureaus, but are not entitled to receive a free credit score. The three credit bureaus run Annualcreditreport.com, where users can get their free credit reports. Credit scores are available as an add-on feature of the report for a fee. This fee is usually around $10, as the FTC regulates this charge, and the credit bureaus are not allowed to charge an exorbitant fee for their credit score.If the consumer disputes an item on a credit report obtained using the free system, under the Fair Credit Reporting Act (FCRA), the credit bureaus have 45 days to investigate, rather than 30 days for reports obtained otherwise.
Alternatively, consumers wishing to obtain their credit scores can in some cases purchase them separately from the credit bureaus or can purchase their FICO score directly from Fair Isaac. Credit scores (including FICO scores) are also made available for “free” through subscription to one of the many credit report monitoring services available from the credit bureaus or other third parties, although to actually get the scores for free from most such services, one must use their credit card to sign up for a free trial subscription of the service and then cancel before the first monthly charge. Until March 2009, holders of credit cards issued by Washington Mutual were offered a free FICO score each month through the bank’s Web site. (Chase, which took over Washington Mutual in 2008, discontinued this practice in March, 2009.) Chase resumed the practice of offering a free FICO score in March, 2010 of select card members to the exclusion of the majority of former WAMU card holders.
Under the Fair Credit Reporting Act, a consumer is entitled to a free credit report (but not a free credit score) within 60 days of any adverse action (e.g. being denied credit, or receiving substandard credit terms from a lender) taken as a result of their credit score. Under the Wall Street reform bill passed on July 22, 2010, a consumer is entitled to receive a free credit score if they are denied a loan or insurance due to their credit score. The FICO credit score ranges between 300 and 850. The VantageScore score ranges from 501-990.

Cost segregation study

mcgintl — Sun, 25 Sep 2011 18:45:34 +0000

Cost segregation is a highly beneficial and widely accepted tax planning strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax, and improve cash flow. Once used only by big-4 type accounting firms and the nation’s largest real estate owners, this practice has become routine for commercial property owners of almost every size. A cost segregation study (CSS) is based on a detailed engineering analysis that is used to support the acceleration of depreciation deductions by identifying costs that can be allocated to shorter recovery periods; primarily 5, 7, and 15-year, as opposed to 27.5 (residential rental) or 39-year (commercial). A quality study provides the documentation needed to defer substantial tax payments and greatly improve cash flow. It is important to note that a cost segregation study does not create new deductions, but increases deductions in the early years of ownership. This front-loading of depreciation allows the taxpayer to take advantage of the time value of money.

Property asset classification

Analysis of capital expenditures is used to determine appropriate asset classifications. Cost segregation identifies building costs that would typically be depreciated over a 27.5 or 39-year period and reclassifies them to permit a shorter, accelerated method of depreciation for certain building costs. Costs for non-structural elements, such as wall covering, carpet, accent lighting, portions of the electrical system, and exterior site improvements such as sidewalks and landscaping, can often be depreciated over five, seven or 15 years, rather than over 27.5 or 39 years.

Eligibility

Real property eligible for cost segregation includes buildings that have been purchased, constructed, expanded or remodeled since 1987. A study is typically cost-effective for buildings purchased or remodeled at a cost greater than $200,000. A cost segregation study is most efficient for new buildings recently constructed, but it can also uncover retroactive tax deductions for older buildings which can generate significant short benefits due to “catch-up” depreciation. Building types studied include

Apartment complexes
Automobile dealerships
Distribution centers
Fast food restaurants
Food processing facilities
Gas Stations
Hotels/motels
Manufacturing plants
Medical centers
Nursing homes
Office buildings
Retail chains/franchises
Shopping malls
Self Storage
Sports stadiums
Amusement parks
Supermarkets
Casinos

Cost segregation study process

“A cost-segregation specialist can perform a nonintrusive yet detailed engineering study of a building’s walls, flooring, and ceilings; and its plumbing, electrical, lighting, telecommunications, heating and cooling systems” (Money Doesn’t Grow on Trees, But It Could be Hidden in the Walls By William J. Barnes, CPA). Usually, a construction engineer will analyze architectural drawings, mechanical and electrical plans, and other blueprints to segregate the structural and general building electrical and mechanical components from those linked to personal property. The study also allocates “soft costs,” such as architect and engineering fees, to all components of the building. “In general, a study by a construction engineer is more reliable than one conducted by someone with no engineering or construction background. However, the possession of specific construction knowledge is not the only criterion. Experience in cost estimating and allocation, as well as knowledge of the applicable law, are other important criteria. A quality study identifies the preparer and always references his/her credentials, experience and expertise in the cost segregation area” (www.irs.gov – Cost Segregation Audit Technique Guide – Chapter 4 – Principal Elements of a Quality Cost Segregation Study and Report).

Tax benefits of cost segregation

In addition to providing lower taxes, cost segregation can benefit businesses in a number of ways:

Maximizing tax savings by adjusting the timing of deductions. When an asset’s life is shortened, depreciation expense is accelerated and tax payments are decreased during the early stages of a property’s life. This, in turn, releases cash for investment opportunities or current operating needs.
Creating an audit trail. Improper documentation of cost and asset classifications can lead to an unfavorable audit adjustment. A properly documented cost segregation helps resolve IRS inquiries at the earliest stages.
Playing Catch-Up: Retroactivity. Since 1996, taxpayers can capture immediate retroactive savings on property added since 1987. Previous rules, which provided a four-year catch-up period for retroactive savings, have been amended to allow taxpayers to take the entire amount of the adjustment in the year the cost segregation is completed. This opportunity to recapture unrecognized depreciation in one year presents an opportunity to perform retroactive cost segregation analyses on older properties to increase cash flow in the current year.
Additional tax benefits. Cost segregation can also reveal opportunities to reduce real estate tax liabilities and identify certain sales and use tax savings opportunities.

Actual Cost Savings From A Cost Segregation Study:

Property Type	Total Property Cost	Five Year Cash Flow From Tax Savings
Leasehold Improvement	$224 Thousand	$24,608
Retail Store	$273 Thousand	$29,214
Office Condo	$250 Thousand	$17,954
Warehouse/Office	$300 Thousand	$18,134
Retail Store	$440 Thousand	$32,479
Leasehold Improvements	$500 Thousand	$38,101
Retail Strip Center	$843 Thousand	$63,877
Assisted Living Facility	$1.3 Million	$82,846
Medical Facility	$1.3 Million	$88,459
Leasehold Improvements	$1.4 Million	$131,569
Auto Dealership	$1.8 Million	$194,074
Assisted Living Facility	$4.1 Million	$203,257
Warehouse/Office	$5.2 Million	$312,687
Warehouse	$6.3 Million	$248,559
Medical Facility	$8.9 Million	$347,281
Apartments	$15.1 Million	$570,288
Retail Strip Center	$22.3 Million	$848,160

Your CPA – Video

mcgintl — Sun, 25 Sep 2011 15:48:42 +0000

Votre Expert Comptable

Tableau de bord

Evaluation d’entreprise

Mission Strategie Personelle Du Dirigeant