Copyright ©​ Daniel Cullinane CPA.



Tesla Inc. (NASDAQ: TSLA) may have a supplier problem. According to Reuters:

Panasonic Corp said it was unable to determine how much of the cobalt used in batteries it makes for Tesla cars comes from Cuba, a country subject to U.S. sanctions, and that it had suspended relations with a Canadian supplier as a result of its concerns.

The Japanese electronics maker, the exclusive supplier of batteries to Tesla Inc, made the comments following questions from Reuters about whether the batteries contained Cuban cobalt.

Microsoft Corp.’s (NASDAQ: MSFT) cloud business boosted revenue in the most recently reported quarter. According to The Wall Street Journal:

Microsoft Corp. topped $100 billion in annual revenue for the first time as the software giant remakes itself from a legacy software provider into a power player in cloud computing.

Much of that growth has come from persuading customers who run Microsoft’s software in their own data centers to mix in cloud services, a business known as hybrid-cloud computing. Microsoft remains a distant No. 2 in the cloud business behind Inc., but has established itself as a viable option for companies beginning the transition. Inc. (NASDAQ: AMZN) has a fake product problem. According to The Wall Street Journal:

Counterfeiters, though, have been able to exploit Amazon’s drive to increase the site’s selection and offer lower prices. The company has made the process to list products on its website simple—sellers can register with little more than a business name, email and address, phone number, credit card, ID and bank account—but that also has allowed impostors to create ersatz versions of hot-selling items, according to small brands and seller consultants.

North Korea’s economy has a problem. According to the Financial Times:

North Korea economy suffers sharp contraction. Analysts say data indicate harsh sanctions are having their desired effect.

More evidence about the effects of climate change was released:

Pouring through four decades of satellite data, climate scientists have concluded for the first time that humans are pushing seasonal temperatures out of balance—shifting what one researcher called the very “march of the seasons themselves.”

Ever-mindful of calculable uncertainty and climate deniers, the authors give “odds of roughly 5 in 1 million” of these changes occurring naturally, without human influence.

Tariffs could hit Apple Inc.’s (NASDAQ: AAPL) financials. According to CNBC:

The latest round of U.S. tariffs on $200 billion of Chinese goods could hit the Apple Watch, health trackers, streaming music speakers and other accessories assembled in China, government rulings on tariffs show.

The rulings name Apple’s watch, several Fitbit activity trackers and connected speakers from Sonos Inc. While consumer technology’s biggest sellers such as mobile phones and laptops so far have faced little danger of import duties, the rulings show that gadget makers are unlikely to be spared altogether and may have to consider price hikes on products that millions of consumers use every day.I'm interested in the  Newsletter

The European Union hit Alphabet Inc's Google with a record $5 billion antitrust fine and ordered changes that could reshape the business model underlying the biggest growth engine mobile phones. In another rebuke to one of Silicon Valley's tech giants the bloc's antitrust regulator found that Google had abused the dominance of its Android operating system  which runs more than 80% of the world's smart phones to promote and entrench the company's cash cow search engine The fine,Europe's largest so far related to antitrust issues is the equivalent to abut 40% of Google's 2017 profit of $12.62 billion.  For cash rich Alphabet, however, the financial penalty is potentially less onerous than the business changes Brussels has demanded, which could  give players, including smartphone makers and mobile carriers more leverage to extract payments from Google.

The EU ordered Google. to stop making phone manufacturers preinstall its search app and Chrome web browser if they want to pre installl Google's Play store, which is the dominant way to download Android apps. The bloc also ordered Google to end restrictions that discourage manufacturers from sellin devices that run unofficial versions of Android


Papa John's International Inc founder and recently ousted Chairman John Schmatter held talks  to merge the pizza company with Wendy's Co. The talks between Wendy's officials and Mr Schmatter who still sits on the board and owns 29% of Papa John's were preliminary and began before he stepped down as Chairman last week over the use of a racial slur. The talks which Papa John's board was aware of cooled since the incident.


Many US homeowners are inadequately insured for natural catastrophe damage ahead fo the height of the Atlantic hurricane season. Three major land falling hurricanes in 2017, Harvey Irma and Maria, revealed a widespread lack of full insurance coverage for homeowners in Texas, Florida Puerto Rico and elsewhere. Those storms  served as a wakeup call to some but the underinsurance of Americans persists, according to regulators trade groups and government data. While most people have home insurance, many lack flood insurance, which is typically purchased from the US government as a separate policy. many homeowners also have home insurance policy limits that are too low to cover the full cost of repairing or rebuilding there properties Many people thouight that they had a fully insured house or fully insured business before last year's catastrophies, they discovered that there were some exsclusions in there policies

income tax preparation

Daniel Cullinane CPA

25 Plaza 5 25th fl Jersey City NJ                                          phone 732-516-1648 fax 732-516-9778

MBA Taxation

Daniel Cullinane CPA

2500 Plaza 5 25th fl  Jersey City NJ 07311                                                          phone 732-516-1648  fax 732-516-9778

                 MBA TAXATION                                                                                                         


​Among the hurdles facing would-be homebuyers these days is a lack of inventory of homes for sale. That’s especially true for first-time buyers who, as a result, also meet rising home prices that shrink available inventory even more.

Most sellers want their homes listed on the multiple listing service (MLS) to give themselves the best chance of reeling in potential buyers. If you’re looking for a home, there’s no better way to beat the crowd than to find one before it hits the MLS.

Getting a jump on the competition (other buyers) is not easy, but it can be done. Steve Davis, founder of Real Wealth Academy LLC, told

Making moves to get ahead of the general public when you’re the buyer is wise if you want to get the perfect house. All it takes is a little ingenuity and some sleuthing, to find out which homes are going on the market before the listings go live, so that you’re ready to pounce.

The experts at have come up with a list of five tips to give buyers a jump in the market.

Ask your agent about listings he’s trying to get
Everyone knows what is available on the MLS. What you want to know is what might be available. It’s in the agent’s best interest to have a ready buyer for a home even before it’s listed, so ask!

Hone in on homeowners undergoing life changes
People sell homes for all kinds of reasons: more kids on the way; kids moving out; deaths; divorce; new jobs in a different place. Find a neighborhood you want to live in and then do the detective work.

Do a mass mailing
Snail mail still has its uses. You can purchase a mailing list for the neighborhood you’re interested in and use it send a mailer to residents letting them know that you want a house in their neighborhood and ask if they are willing to consider selling soon.

Contact the homeowner’s association boards
All condos and many developments have homeowner associations (HOAs) that you can contact to find out if there’s been some talk of homes about to be put up for sale.

Use current listings to broaden your search
Visit an open house and ask the agent if she’s got anything else coming on the market soon. Also, ask some neighbors if they have any intel about who might be getting ready to sell



Clesta Dickson 86 years old never married The retired teacher lives on her own in a tidy apartment on the second floor of Pleasantview Towers, a subsidized apartment building for older adults and people with disabilities in Vienna W Virgina. When her parents became frail she bought a house for the three of them. They died years ago. She has a brother but he is ,. Without children of her own she wondes what will happen to her.  I think about it all the time. She made her funeral arragements after noticing how many people she knw died and never had a memorial service or obituary. For generations, the nation hass relied on family members to keep aging loved ones in their homes. Today many Americans are growing older without family nearby, offering a glimpse  of what the future may hold for the cohort of Americans who are approaching retirement.  

The caregiving crunch comes at a time when Americans reaching retirement age are in a squeese unseen in generations. Their median income including Social Security and retirement income has not risen in years The private sector for caregivers is not an option for many older adults. Demand for provaate homehealth aides is expected to exceed supply by more than three million in the next decade. Many cannot afford it even if it were available . A full time home health aide costs on average $48,000 a year. Public support has not kept pace either. Mdeicare and other government programs provide a fraction of the long term supportive services that people need to remain in their own homes  Medicare generally doess not pay for long term care stays in nursing homes which can cost close to $100,000 a year for a private room


Ritz Crackers have a potential food-poisoning problem. According to Reuters:Mondelez Global LLC has voluntarily begun recalling some Ritz Cracker sandwiches and Ritz Bits products over concern that they may include an ingredient tainted with Salmonella.
The company said in a statement on Saturday that it has not received any complaints of illness, and that it issued the recall as a precautionary measure.

Fiat Chrysler Automobiles N.V. (NYSE: FCAU) had a quick CEO change. According to the Wall Street Journal:The deteriorating health of Sergio Marchionne forced Fiat Chrysler Automobiles NV to replace him as CEO this weekend, a sudden change at a company dealing with a rapidly evolving industry and a global trade dispute.“It is with great sadness that I have to tell you that our CEO Sergio Marchionne, who recently underwent surgery, unfortunately experienced complications that have worsened in recent hours and will prevent his return to FCA,” Fiat Chairman John Elkann told employees in a letter Saturday.
The board of Papa John’s International Inc. (NASDAQ: PZZA) may vote on a way to partially take control from its disgraced founder. According to The Wall Street Journal:

Papa John’s International Inc.’s board members voted to adopt a “poison pill” on Sunday to prevent its controversial founder from gaining a controlling interest in the pizza chain, according to people familiar with the matter.The board has been trying to sever ties with John Schnatter, who founded Papa John’s 34 years ago, following revelations that he used a racial slur during a recent conference call.

A Denzel Washington movie was the winner at the weekend box office. According to Box Office Mojo:At the top of the box office, Sony’s release of The Equalizer 2, starring Denzel Washington and directed by Antoine Fuqua, delivered an estimated $35.8 million, topping the $34.1 million opening for the first film. The film’s second place performance comes as a result of holding on just a bit better than the Mamma Mia! sequel on Saturday, though once weekend actuals are in it could turn into a slightly tighter race than the $1.44 million that currently separate the two. That said, we aren’t expecting the top two positions to change.

The market for the Tesla Inc. (NASDAQ: TSLA) Model 3 may be shrinking. According to CNBC:Recently, Elon Musk lashed out at a new analysis claiming that nearly a quarter of the more than 400,000 advance reservations for Tesla’s Model 3 battery-sedan have been canceled.But a closer look at Musk’s comment raises a different reason for concern: The prospect that new orders may not keep up with Tesla’s long-awaited production ramp-up at its suburban San Francisco assembly plant.



After reporting solid earnings Thursday, Microsoft Corp. (NASDAQ: MSFT) shares rose to a new all-time high Friday and took over as the Dow Jones industrial average’s best-performing stock for the year to date. The stock added 0.8% for the week (1.8% on Friday alone). For the year to date, Microsoft shares have risen by 24.23%.

The second-best performer among the Dow index equities so far this year is Visa Inc. (NYSE: V), which is up 23.65%. That is followed by Nike Inc. (NYSE: NKE), up 23.04%, Boeing Co. (NYSE: BA), up 20.34%, and UnitedHealth Group Inc. (NYSE: UNH), up 14.62%. Of the 30 Dow stocks, half have managed to post a gain to date in 2018.

The blue chip index added just 39 points over the course of the past week to close at 25,058.12, up a scant 0.1% from the previous Friday’s close. The Dow closed up less than 1.0% for the second quarter but down 1.8% for the first six months of 2018.

Before Microsoft reported earnings last week, the company announced that it had signed a five-year deal with Walmart Inc. (NYSE: WMT) to provide the retailer with cloud solutions and services. There are other firms Walmart could have turned to, but the one the company would obviously avoid is Amazon and its Amazon Web Services cloud. Both Microsoft and Walmart compete — in different spaces — with Amazon and, as the saying goes, the enemy of my enemy is my friend.

In its earnings announcement, Microsoft reported its first-ever fiscal year revenue total of more than $100 billion. Microsoft beat both top and bottom line estimates, and gross margins rose to 67% in the fourth fiscal quarter. Commercial cloud revenue jumped 53% year over year, and intelligent cloud revenue rose 23%. Windows OEM revenue rose 7%, and the company now claims 31.4 million subscribers to its Office 365 Consumer subscription base. Revenue growth hit 89% year over year in the company’s Azure platform.

On the conference call, Microsoft guided first-quarter revenue of $27.35 billion to $28.05 billion. The company sees its server products and cloud services revenue growth in the high teens for the 2019 fiscal year. In its productivity and business processes segment, Microsoft forecast double-digit revenue growth.

Microsoft’s shares closed Friday at $106.27, below a new high of $108.20 earlier in the day. The 52-week low is $71.28, and the consensus 12-month price target on the stock is $113.47.

Billions of pounds of meat are piling up in US cold storage warehouses, fueled by surge in supplies and trade disputes that are eroding demand. Federal data, coming as early as Monday are expected to show a record level of beef, pork, poultry and turkey being stockpiled in US facilities rising above 2.5 billion pounds. US consumers appetite for meat is growing but not fast enough to keep up with record production of hogs and chic kens. That leaves the US meat industry increasingly reliant on exports but Mexico and China among the largesst foreigh buyers of US meat have both set tariffs on US pork products in response to US tariffs on steel, aluminum  and other goods. US hams, chops and livers have become sharply more exxpensive in those markets, which is starting to slow sales. The meat industry's growing production alreay is filling the specialized warehouses built to store meat and other goods.



​U.S. Customs and Border Protection processes over 278 million cargo and parcel shipments from overseas each year. While the majority of these contain legal goods, a small percentage contain counterfeit items. Customs and border officers seized and destroyed some 34,143 shipments containing counterfeit items in the 2017 fiscal year. Thousands more shipments of counterfeit goods likely went undetected and made it into the United States.

The CBP seized 8.2% more shipments of counterfeit goods in 2017 compared to the year before, when it seized 31,560 shipments. However, the value of the counterfeit items seized was considerably less, dropping from $1.38 billion in 2016 to $1.21 billion in 2017.

Forgers from across the globe send falsified goods to the United States to undercut prices set by the companies that actually own the intellectual property rights of the items. Knockoff electronics, accessories, and clothing rake in millions of dollars each year.

24/7 Wall St. reviewed the counterfeit items seized by U.S. Customs and Border Protection to determine America’s most counterfeited items.

Counterfeit items are almost all luxury goods like watches, jewelry, electronics, and accessories. People are often duped into buying counterfeit versions of name brand goods when they see a deal that seems too good to be true. Some bogus items can actually be dangerous.

Pharmaceuticals are among the most counterfeited items. Counterfeit medicine can often contain incorrect dosages or even completely lack the active ingredient that makes the genuine drug effective. In the past, automobile parts have ranked among the most counterfeited items. These fabricated car parts often do not meet the safety standards that regulated and inspected products must adhere to, leading to unsafe conditions on the road

​Vertically integrated cannabis cultivator and dispensary operator Acreage Holdings announced Monday that it has completed a Series E fund-raising round with $119 million in new funding that the company plans to use to prepare for a fall initial public offering (IPO) on the Canadian Securities Exchange.

In April, the former speaker of the U.S. House of Representatives, John Boehner, and former Massachusetts Governor Bill Weld joined Acreage’s board of advisors and committed to joining the board of directors when that body is formed. The two politicians are taking on the task of persuading other legislators to support legalization.

Publicly traded firms in the marijuana industry have been on a tear recently. Last week, Tilray Inc. (NASDAQ: TLRY) raised $153 million sold 9 million shares at $17 in a Thursday IPO. Shares got a first-day pop of 32%, closed the week up 75% and have added another 13% or so shortly before noon Monday to trade at around $33.65.

Acreage has operations in 11 U.S. states and has announced plans to enter a 12th. Marijuana cultivation and use, whether medicinal, recreational or both, is legal in all the states where the company operates.

In today’s announcement, CEO Kevin Murphy said:

The response we received from our investor partners was profoundly encouraging. The combination of monies raised and the rollup cements Acreage as one of the best capitalized companies in the industry with a footprint that is second to none. This gives us an exceptionally strong investment proposition to bring into the public markets in our upcoming listing.

Company President George Allen added:

Our objective with our investors is to set the standard in terms of professionalism and competency in order to remove as much risk from cannabis investing as possible. It is a mission that will remain paramount to us as we transition from a private to a public investor base.

The North American Marijuana Index is up by nearly 89% in the past year and over 300% in the past three years.​