Making the Trade in the National Basketball Association (NBA): A Research Case Exploring Like-Kind Exchange Treatment Post Tax Cuts and Jobs Act

2021 ◽  
Author(s):  
Paul Connell Nylen ◽  
Brian William Huels
Keyword(s):  
Relevant Information ◽  
National Basketball Association ◽  
Financial Assets ◽  
Substantial Impact ◽  
Professional Basketball ◽  
Tax Research ◽  
Definition Of ◽  
Fair Market Value ◽  
Jobs Act ◽  
Tax Cuts

The primary aim of this activity is to explore tax issues related to an exchange of non-financial assets. Students are presented with a case that involves a fictional trade of players between two teams in the National Basketball Association, the Milwaukee Bucks and the Washington Wizards. Using a trade date of January 1, 2018, students are presented with the opportunity to explore the treatment of a non-financial asset like-kind exchange post Tax Cuts and Jobs Act of 2017. In addition, students are challenged to determine the definition of fair market value and how its calculation could have a substantial impact on the finances of a professional basketball team. Data gathered from pre and post-questionnaires, including both objective measures and student experiential feedback, supports the usage of this activity. Results show that this case increased students' ability to understand and summarize relevant information from a complex set of facts while also growing their tax knowledge and tax research skills.

scholarly journals The Tax Cuts and Jobs Act and the Middle Class

2019 ◽  
Vol 26 (01) ◽  
pp. 53
Author(s):  
Deborah Combs ◽  
Brian Nichols
Keyword(s):  
Middle Class ◽  
The United States ◽  
Census Bureau ◽  
Tax Rates ◽  
United States Census ◽  
United States Census Bureau ◽  
Definition Of ◽  
Almost All ◽  
Jobs Act ◽  
Tax Cuts

This paper explores how the tax cuts and jobs act of 2017 impacts middle-class taxpayers by calculating the tax liability at different levels of income and deductions in 2017 versus 2018. The results confirm the statements supporting the positive effect of the tax change for the middle class. The tax cut and jobs act eliminates personal exemptions, changes the standard deductions at various incomes and family sizes, and lowers marginal tax rates. After providing details of the act, this research examines the definition of the U.S. middle class by using prior research from the Pew Research Center, the United States Census Bureau, and the federal reserve to determine which income levels are attributable to the middle class. Then the tax liability for these income classes is calculated for single and married filing jointly taxpayers in both 2017 and 2018 to determine if the tax cuts and jobs act reduces the tax liability for the middle class. The results show that in almost all scenarios the tax liability in 2018 will be lower than in 2017, regardless of whether standard or itemized deductions are taken. The marriage penalty is no longer applicable, and the new tax act provides a substantial benefit to large families

In the Nick of Time: Performance-Based Compensation and Proactive Responses to the Tax Cuts and Jobs Act

2020 ◽  
Author(s):  
Jonathan Durrant ◽  
James Jianxin Gong ◽  
Jennifer K Howard
Keyword(s):  
Stock Option ◽  
Tax Rates ◽  
Tax Rate ◽  
Weak Evidence ◽  
Performance Based Pay ◽  
Performance Based Compensation ◽  
Definition Of ◽  
Jobs Act ◽  
Option Compensation ◽  
Tax Cuts

The Tax Cuts and Jobs Act of 2017 (TCJA) introduced two major changes that may influence executive compensation: (1) reducing corporate tax rates from 35 to 21 percent and (2) eliminating the performance-based pay exception in Section 162(m). These changes provide incentives to maximize deductible compensation expense in 2017, before the TCJA goes into effect. Consistent with our expectation, we find that the increase in CEO bonus and stock option compensation is significantly greater in 2017 relative to prior years. Our difference-in-difference results are consistent with the tax rate reduction driving the bonus increase and the repeal of the performance-based exception leading to the increase in CEO stock options. The TCJA also changed the definition of covered employees to include the CFO. We find weak evidence for abnormal increases in CFO performance-based compensation. Overall, our findings suggest that firms' responded to the TCJA in the period before it was effective.

scholarly journals Sustainability and Stakeholder Awareness: A Case Study of a Scottish University

2021 ◽  
Vol 13 (8) ◽  
pp. 4186
Author(s):  
Abdulhakeem Raji ◽  
Abeer Hassan
Keyword(s):  
Signaling Theory ◽  
Relevant Information ◽  
Voluntary Exercise ◽  
Communication Tool ◽  
Individual Interviews ◽  
Study Approach ◽  
Research Findings ◽  
Definition Of ◽  
The University

This paper adopted a case study approach to investigate the sustainability practices of a Scottish university in order to understand if sustainability forms part of its central policy agenda. As such, the paper focuses on the levels of awareness and disclosure of their sustainable practices, measuring the impacts and effectiveness of those initiatives. This paper introduces signaling theory to explore the idea that appropriate communication via integrated thinking can close the gap between the organization and its stakeholders. We believe that the provision of this relevant information will lead to better communication between the organization and its stakeholders, supporting a signaling theory interpretation. Therefore, we are suggesting that integrated thinking is an internal process that organizations can follow to increase the level of disclosure as a communication tool with stakeholders. From the literature reviewed, four themes were identified (definition of university sustainability, sustainability awareness, disclosure framework within universities, and level of accountability). The research adopted a pragmatic view and conducted individual interviews with participants belonging to three stakeholder groups (members of the university’s senior management, the governing council, and the student union executive). Although this study focused on just one Scottish university, it should still provide some insight for the better understanding of the underpinning issues surrounding the sustainability accountability practices of Scottish universities in general. The research findings indicated that the university prioritized only two sustainability dimensions—economic and environmental—and that the university still perceived sustainability as a voluntary exercise. Additionally, it is evident that the university had no framework in place for measuring its sustainability delivery—and therefore had no established medium of communicating these activities to its stakeholders. Moreover, research findings showed that the social and educational context of sustainability was lacking at the university. The university has done little or nothing to educate its stakeholders on sustainability.

scholarly journals Quaternion Processing Techniques for Color Synthesized NDT Thermography

2021 ◽  
Vol 11 (2) ◽  
pp. 790
Author(s):  
Pablo Venegas ◽  
Rubén Usamentiaga ◽  
Juan Perán ◽  
Idurre Sáez de Ocáriz
Keyword(s):  
Signal To Noise Ratio ◽  
High Capacity ◽  
Synthetic Data ◽  
Relevant Information ◽  
Color Images ◽  
Destructive Testing ◽  
Application Procedure ◽  
Definition Of ◽  
Characterization Procedure ◽  
Processing Techniques

Infrared thermography is a widely used technology that has been successfully applied to many and varied applications. These applications include the use as a non-destructive testing tool to assess the integrity state of materials. The current level of development of this application is high and its effectiveness is widely verified. There are application protocols and methodologies that have demonstrated a high capacity to extract relevant information from the captured thermal signals and guarantee the detection of anomalies in the inspected materials. However, there is still room for improvement in certain aspects, such as the increase of the detection capacity and the definition of a detailed characterization procedure of indications, that must be investigated further to reduce uncertainties and optimize this technology. In this work, an innovative thermographic data analysis methodology is proposed that extracts a greater amount of information from the recorded sequences by applying advanced processing techniques to the results. The extracted information is synthesized into three channels that may be represented through real color images and processed by quaternion algebra techniques to improve the detection level and facilitate the classification of defects. To validate the proposed methodology, synthetic data and actual experimental sequences have been analyzed. Seven different definitions of signal-to-noise ratio (SNR) have been used to assess the increment in the detection capacity, and a generalized application procedure has been proposed to extend their use to color images. The results verify the capacity of this methodology, showing significant increments in the SNR compared to conventional processing techniques in thermographic NDT.

Missed Shots at the Free-Throw Line

2015 ◽  
Vol 18 (6) ◽  
pp. 539-559 ◽  
Author(s):  
Mattie Toma
Keyword(s):  
High Pressure ◽  
National Collegiate Athletic Association ◽  
Statistical Significance ◽  
National Basketball Association ◽  
Choking Under Pressure ◽  
Professional Basketball ◽  
Free Throw ◽  
Percentage Points ◽  
Male College ◽  
The Impact

Choking under pressure represents a phenomenon in which individuals faced with a high-pressure situation do not perform as well as would be expected were they performing under normal conditions. In this article, I identify determinants that predict a basketball player’s susceptibility to choking under pressure. Identification of these determinants adds to our understanding of players’ psychology at pivotal points in the game. My analysis draws on play-by-play data from ESPN.com that feature over 2 million free-throw attempts in women’s and men’s college and professional basketball games from the 2002-2013 seasons. Using regression analysis, I explore the impact of both gender and level of professionalism on performance in high-pressure situations. I find that in the final 30 seconds of a tight game, Women’s National Basketball Association and National Basketball Association players are 5.81 and 3.11 percentage points, respectively, less likely to make a free throw, while female and male college players are 2.25 and 2.09 percentage points, respectively, less likely to make a free throw, though statistical significance cannot be established among National Collegiate Athletic Association women. The discrepancy in choking between college and professional players is pronounced when comparing male college players who do and do not make it to the professional level; the free-throw performance of those destined to go pro falls 6 percentage points more in high-pressure situations. Finally, I find that women and men do not differ significantly in their propensity to choke.

The Effects of Playing Multiple High School Sports on National Basketball Association Players’ Propensity for Injury and Athletic Performance

2017 ◽  
Vol 46 (2) ◽  
pp. 402-408 ◽  
Author(s):  
Caitlin Rugg ◽  
Adarsh Kadoor ◽  
Brian T. Feeley ◽  
Nirav K. Pandya
Keyword(s):  
High School ◽  
Athletic Performance ◽  
National Basketball Association ◽  
Participation Rates ◽  
High School Sports ◽  
Professional Basketball ◽  
School Sports ◽  
Career Length ◽  
Major Injury ◽  
Elite Status

Background: Athletes who specialize in their sport at an early age may be at risk for burnout, overuse injury, and reduced attainment of elite status. Timing of sport specialization has not been studied in elite basketball athletes. Hypothesis: National Basketball Association (NBA) players who played multiple sports during adolescence would be less likely to experience injury and would have higher participation rates in terms of games played and career length compared with single-sport athletes. Study Design: Descriptive epidemiology study. Methods: First-round draft picks from 2008 to 2015 in the NBA were included in the study. From publically available records from the internet, the following data were collected for each athlete: participation in high school sports, major injuries sustained in the NBA, percentage of games played in the NBA, and whether the athlete was still active in the NBA. Athletes who participated in sports in addition to basketball during high school were defined as multisport athletes and were compared with athletes who participated only in basketball in high school. Results: Two hundred thirty-seven athletes were included in the study, of which 36 (15%) were multisport athletes and 201 (85%) were single-sport athletes in high school. The multisport cohort played in a statistically significantly greater percentage of total games (78.4% vs 72.8%; P < .001). Participants in the multisport cohort were less likely to sustain a major injury during their career (25% vs 43%, P = .03). Finally, a greater percentage of the multisport athletes were active in the league at time of data acquisition, indicating increased longevity in the NBA (94% vs 81.1%; P = .03). Conclusion: While a minority of professional basketball athletes participated in multiple sports in high school, those who were multisport athletes participated in more games, experienced fewer major injuries, and had longer careers than those who participated in a single sport. Further research is needed to determine the reasons behind these differences.

scholarly journals Measuring the Effects of Corporate Tax Cuts

2018 ◽  
Vol 32 (4) ◽  
pp. 97-120 ◽  
Author(s):  
Alan J. Auerbach
Keyword(s):  
Multinational Corporations ◽  
Income Tax ◽  
Capital Investment ◽  
Corporate Income Tax ◽  
Tax Law ◽  
Corporate Tax ◽  
The Law ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA), the most sweeping revision of US tax law since the Tax Reform Act of 1986. The law introduced many significant changes. However, perhaps none was as important as the changes in the treatment of traditional “C” corporations—those corporations subject to a separate corporate income tax. Beginning in 2018, the federal corporate tax rate fell from 35 percent to 21 percent, some investment qualified for immediate deduction as an expense, and multinational corporations faced a substantially modified treatment of their activities. This paper seeks to evaluate the impact of the Tax Cuts and Jobs Act to understand its effects on resource allocation and distribution. It compares US corporate tax rates to other countries before the 2017 tax law, and describes ways in which the US corporate sector has evolved that are especially relevant to tax policy. The discussion then turns the main changes of the Tax Cuts and Jobs Act of 2017 for the corporate income tax. A range of estimates suggests that the law is likely to contribute to increased US capital investment and, through that, an increase in US wages. The magnitude of these increases is extremely difficult to predict. Indeed, the public debate about the benefits of the new corporate tax provisions enacted (and the alternatives not adopted) has highlighted the limitations of standard approaches in distributional analysis to assigning corporate tax burdens.

The Tax Cuts and Jobs Act of 2017 and the Pharmaceutical Industry

2018 ◽  
Vol 46 (3) ◽  
pp. 806-808
Author(s):  
Michael S. Sinha ◽  
Aaron S. Kesselheim
Keyword(s):  
Pharmaceutical Industry ◽  
Jobs Act ◽  
Tax Cuts

scholarly journals Is This Tax Reform, or Just Confusion?

2018 ◽  
Vol 32 (4) ◽  
pp. 73-96 ◽  
Author(s):  
Joel Slemrod
Keyword(s):  
United States ◽  
Tax Reform ◽  
The United States ◽  
The Political ◽  
Political Will ◽  
Tax Base ◽  
Tax System ◽  
The Law ◽  
Jobs Act ◽  
Tax Cuts

Based on the experience of recent decades, the United States apparently musters the political will to change its tax system comprehensively about every 30 years, so it seems especially important to get it right when the chance arises. Based on the strong public statements of economists opposing and supporting the Tax Cuts and Jobs Act of 2017, a causal observer might wonder whether this law was tax reform or mere confusion. In this paper, I address that question and, more importantly, offer an assessment of the Tax Cuts and Jobs Act. The law is clearly not “tax reform” as economists usually use that term: that is, it does not seek to broaden the tax base and reduce marginal rates in a roughly revenue-neutral manner. However, the law is not just a muddle. It seeks to address some widely acknowledged issues with corporate taxation, and takes some steps toward broadening the tax base, in part by reducing the incentive to itemize deductions.

scholarly journals (Un)intended Consequences? The Impact of the 2017 Tax Cuts and Jobs Act on Shareholder Wealth

2019 ◽  
Author(s):  
Ivalina Kalcheva ◽  
James Plecnik ◽  
Hai Tran ◽  
Jason Turkiela
Keyword(s):  
Shareholder Wealth ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts
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