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This Week in the iNews:

▲ ROTH IRA’S

▲ FROM THE DESK OF JOHN MACK, CPA, MBA

▲ FOCUS ON FRAUD / TECH TIP WEEKLY

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▲ ROTH IRA’S

Starting January 1, 2010, IRA conversions into Roth IRAs are available, regardless of adjusted gross income. Even though IRA conversions are taxable events, planning opportunities exist to reduce the tax cost. The long-term benefit of Roth IRAs is that distributions are income tax free. However, they are taxable assets for estate tax purposes. Consult with your Prangley Marks, LLP professional to see if this strategy could benefit you.

▲ From the Desk of John Mack, CPA, MBA

 -     Drug maker to trim $80 billion from drug costs for seniors as part of the cost for changes   to the Health Care System.

 -     A key senate committee, pressed to find ways to pay for a health-care expansion, is considering cuts in Medicare that would kick in automatically if other efforts to trim spending in the program fail.

-     Look for an increase in efforts for states to collect sales tax on e-commerce. States look to this to recover lost sales taxes on over-the-counter purchases.

▲ FOCUS ON FRAUD / TECH TIP WEEKLY

Marty Grausam, CPA, CFE, CISA

Brand Abuse Online, Part 1

Cybersquatters use variations on trademarked names to draw visitors to their sites. Those sites may contain offensive content or pay-per-click ads, or they may create a false association with the trademark owner or sell competing products. Some may combine offensive content and e-commerce.

Percent increase in 2008 over 2007:

Cybersquatting: 18%

Offensive content: 21%

Pay-per-click advertising: 24%

False association: 20%

E-commerce sites: 46%

A Glossary so we are all on the same page -

Cybersquatting: The practice of abusing trademarks within the Internet domain-name system.

Typosquatting: The practice of registering domain names that feature common misspellings or typographical errors in trademarked names.

Domain parking: The practice of registering domains for potential future development. Parked domains may include pay-per-click advertisements.

Domaining: The practice of buying, selling and monetizing domain names.

Domainer: A person or business that buys, sells and monetizes domain names for financial gain.

Domain tasting: The practice of registering a domain name, then using the ICANN's five-day free grace period to monitor traffic volumes and determine whether the domain should be dropped based on a cost-benefit analysis.

Domain kiting: The process whereby domains are registered and dropped within the five-day ICANN grace period and then registered again for another five days. Kiting a domain lets the registrant gain the benefit of ownership without ever paying for the domain.   

Source: MarkMonitor Inc., San Francisco

Next Time – Playing Defense