The Federation of Bakers (FoB) reported a trading loss of £29,278 for the year to 31 March 2006 as it held its AGM on 10 May. It reported revenue of £481,013 with expenditure of £510,29, including £71,379 spent on setting up a system to manage new Tesco Omega bread baskets, and £141,734 on public relations. The FoB’s net assets were £114,535 at the end of the year, down from £143,813 in 2005.
If you have to pay for help, shop aroundWhen you use a paid tax preparer, expect to pay a fee. Thisvaries greatly from one provider to another. It pays to shoparound.The fee you pay will also depend on the complexity of yourreturn, the number of forms required and any extra schedulesneeded. Most paid preparers will also charge for electronic filing,typically $10 to $15. Electronic returns are processed muchfaster than paper returns. A refund from a return electronicallyfiled on Thursday of this week will generally post to youraccount by Friday of the following week if you designate it as adirect deposit.Many companies now promise to give you your tax refund on thespot. These refund anticipation loans may sound like a good ideabut these short-term loans are an expensive way to get yourrefund. With electronic filing and direct deposit, the IRS will deposityour refund into your bank account within seven to 10 days. Itdoesn’t make good financial sense to spend several hundreddollars to get your refund a few days earlier.Whether you pay for your tax return or do it yourself, alwayschoose electronic filing with direct deposit of your refundinstead of a high-cost refund-anticipation loan. Free tax help may be availableBefore you pay someone to prepare and file your tax return, findout if you’re eligible for free tax help. The Volunteer IncomeTax Assistance program provides volunteers trained by the IRS toprepare, and in most cases, electronically file returns. Theseservices are free in most cities and in many rural areas. The VITA program targets people eligible for the Earned IncomeTax Credit. These are working families with children andhousehold income less than $34,500. Call 1-800-829-1040 for theVITA site nearest you.Senior citizens can often get free help preparing and filingtheir returns through the AARP Tax Counseling for the Elderlyprogram. TCE will usually prepare returns for EIC-eligiblehouseholds and senior citizens. The IRS can help you find a TCEsite near you.If you’re not a senior citizen and earn too much for VITA, youcan either prepare and file your own tax return or pay for help.Options range from professional accountants to commercialpreparation chains with in-house training. By Michael RupuredUniversity of GeorgiaAs tax season rolls around, many people begin to look for help toprepare and file their returns. Some prepare their own returns.But most turn to local tax services and pay to have their taxesfiled. When you shop for tax preparation services, remember that not allservices are alike. Comparison shopping can save you money bothin the fees you pay for the service and the amount of taxes youowe or the refund you’re due.
Anders Stensbøl Christiansen, CIO at Velliv, told IPE: “We are investing in private market loans to these smaller US companies because they provide higher yields than broadly syndicated loans to larger companies, and because they typically carry lower default risk due to more conservative underwriting practices.”He said the partnership with Nuveen should deliver attractive risk-adjusted returns for its customers.“Private credit is an attractive alternative to the more liquid, traditional fixed income market for our portfolio,” he added.Per Frederiksen, head of Nuveen’s Nordics advisory business, said: “One thing we are focused on is that we don’t want to overburden Churchill – we want them to stay in the sweet spot they are in now.”Of the two unnamed Nordic institutions in the investor group, one is Danish and the other is a large Finnish pension insurer, he said. “TIAA knows what it means to be a long-term investor and has the same needs as these pension funds, including a balance sheet that is aligned with theirs,” Frederiksen said. “This opened a lot of doors – they need strong partners and not only do we have the management capabilities but we also provide our own capital.”The US middle market company sector was so large it equated to the third largest economy in the world when seen in isolation, according to Nuveen.Churchill Asset Management is a specialist middle-market US loans manager that was established in 2015.In December last year, PenSam struck a deal with TIAA and Nuveen to invest DKK1.2bn (€161m) in US private equity.This article was updated on 3 October to amend the fundraising target. It was amended again on 9 October to correct details about Churchill Asset Management. Five Nordic pensions institutions have allocated $550m (€475m) to a fund investing in senior secured loans to middle-market US companies.The providers include Denmark’s PFA Pension, PenSam and Velliv (formerly Nordea Liv & Pension Denmark), and the fund aims to raise $1bn in total.The fund has been created and is managed by Churchill Asset Management, a subsidiary of Nuveen, the asset management arm of US pension fund TIAA.The five pension funds acted as seed investors in the fund, which cannot be named due to US marketing restrictions. Nuveen said it was talking to other institutions about investing in the fund.