HMDA and Commercial Loan Refinancing

  • October 19, 2010

If you’re a commercial lender, you can be forgiven for wondering what, if anything, the Home Mortgage Disclosure Act, better known as HMDA, has to do with commercial loans. HMDA, which was enacted by Congress in 1975 and implemented by the Federal Reserve Board’s Regulation C, requires banks to maintain and annually disclose data about home purchases and refinance applications. This data is then used to help regulators determine whether the bank is serving the housing needs of their communities and identify possible discriminatory lending patterns.

Portfolio Management Strategies – Monitoring Borrower Concentrations and Covariance

  • October 19, 2010

We all know better than to put all our eggs in one basket. Unfortunately, many banks ignored this time-tested wisdom when it came to constructing their loan portfolios, contributing to the financial crisis and credit crunch of the past few years. Specifically, these banks allowed high concentrations of risky types of loans to build up in their portfolios without considering the potential impact on the bank should things turn south.

Financial Reform: What Will it Mean for Community Banks?

  • October 19, 2010

This summer, the most comprehensive overhaul of the financial services industry since the Great Depression was signed into law: the Dodd-Frank Wall Street Reform and Consumer Protection Act. Passage of the Act was just the beginning, though, as many of the implementation details must still be ironed out by regulators. But at first glance, the Act appears to be a mixed bag for community banks, with some potential benefits and some drawbacks.

Individual Tax Update: Planning for Year-End and a Peek at the Future

  • October 18, 2010

By Patti Stoner, CPA The end of 2010 is quickly approaching and tax season is just around the corner. Below are links to two files that includes information about tax planning and upcoming changes that may affect you. Topics such as: New tax laws passed in 2010, tax deductions that have expired and the Health Care Act of 2010.

IRS Issues Relief with Respect to Form W-2 Reporting of Cost of Group Health Insurance

  • October 13, 2010

This just in – IRS has provided interim relief to employers with respect to reporting the cost of coverage under an employer-sponsored group health plan on Form W-2. The reporting of this cost will not be mandatory for Forms W-2 issued for 2011.

FAQ: What Will the Income Tax Rate be in 2011?

  • October 1, 2010

Only three months remain until the current marginal individual income tax rates that helped lower the tax rates of all taxpayers, from lower to middle to higher-income individuals and families, over the past ten years will expire. Congress has a number of options on the table, with some lawmakers favoring extension of the current rates for all taxpayers, while others favor only extending the current rates for the middle-class, and allowing the top two rates to revert to their previous higher levels. Still others are willing to extend none of the rates if a stalemate over the higher rate brackets ensues. The potential rate change makes tax planning all the more important, yet tax planning is also made uncertain by inaction on Congress's part.

Fate of Extenders, EGTRRA Enhancements and Other Expiring Tax Incentives Complicates Year-End Planning

  • October 1, 2010

Many taxpayers mistakenly believe that some popular tax incentives are permanent when in reality they are temporary. It is no surprise that taxpayers make this assumption. Congress routinely allows these tax incentives (called tax extenders) to expire and then renews them. This year, the outcome may be different.

Health Care Reform: Six Months Later

  • October 1, 2010

September 23, 2010 was the six-month anniversary of the comprehensive health care reform package (the Patient Protection and Affordable Care Act...

Congress Passes Individual and Business Tax Incentives in the Small Business Jobs Act of 2010

  • October 1, 2010

Congress has passed a small business jobs bill, the Small Business Jobs Act of 2010 (H.R. 5297), with valuable individual and business tax incentives totaling approximately $12 billion. Many of these tax incentives are temporary so you have only a short window of time in which to take advantage of them. Other tax incentives are permanent but require careful planning to maximize your tax benefits.