Avoiding ID theft during tax season

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Come tax season, there is a heightened threat to financial safety due to identity theft. According to the IRS, identity thieves use a taxpayer's identity to fraudulently file a tax return and claim a refund. Legitimate taxpayers find out that something is wrong only when they go to file their return. Over the last decade, identity theft topped the annual list of consumer complaints received by the Federal Trade Commission.  This number is on the rise because an increasing number of people choose to e-file, but don't take steps necessary to protect their information. 

All of us have at some point or other received emails that talk about a "change in the tax laws" or an "IRS audit". Victims will either be directed to a fake website that will ask for personal and banking information or instructed to download a file (usually a .pdf document) that  will outline the latest changes. The document will contain malware, such as keyloggers, that infects your PC.

Be wary of phone calls from thieves posing as IRS representatives asking to verify information that includes citizenship status, personal data or banking information prior to a tax refund being sent. They may give a reason for verification that states the victim was sent a previous check that no one has cashed.There may also be emails promising refunds that may or may not be legally forthcoming. Once again, the victim will be directed to a fake website that will ask for personal and banking information.

Protecting yourself from tax season ID theft scams are similar to those methods that can protect you all year long. It should include protecting your computer, having the latest anti-spyware and anti-virus software installed and updated.  Files should also be password protected and the wireless connection must be secure.

When you engage the services of a tax preparer, know who you're hiring. There are many fake tax preparation companies that spring up during tax season with intent to steal tax refunds. Check out the credentials of a tax preparation service prior to giving them your personal data.

Forward suspicious IRS emails to phishing@irs.gov. For suspicious phone calls, call 1-800-829-1040 and inquire about the call that you just received.Once you receive a refund, the IRS will not need any additional information from you. Also, normal tax preparation forms ask for all the needed information to process a tax return. You are not required to fill out additional forms or provide additional information in order to release a refund.Use secure paper mail practices when communicating with the IRS. Never send out personal information through a regular public mailbox or from your home mailbox – use your local Post Office.

Remember to file early.The earlier you file your taxes, the less likely you are to be a victim of tax return identity theft. By waiting until the last minute, thieves could have weeks or months to get away with identity theft before you are even aware of it.

Tax season can be stressful enough without the added problems connected with identity theft. Be diligent and aware of potential risks and enjoy your refund when the tax season is over.To learn more, please email info@gkmtax.com.

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How the Healthcare Act will shape up in 2013?

                                     

The Affordable Care Act is a far-reaching topic, changing the way healthcare is accessed and delivered in the US. While many aspects of the Affordable Care Act do not roll out until 2014, the tax component has gone into effect, and taxpayers need to be prepared for the tax bill that accompanies the act.

Medicare Payroll Tax - Thosewho make more than $200,000 annually or any married couple who makes more than $250,000 annually will pay a 2.35% Medicare payroll tax, up from 1.45%. This tax will largely affect taxpayers in high-income households.

Unearned Income Tax -. A surtax of 3.8% will be imposed on unearned income, such as taxable capital gains, dividends, rents, royalties and interest for single taxpayers who make more than $200,000 and married couples who make more than $250,000.

More Limitations on Flexible Spending Accounts - Flexible spending accounts are used to put money away on a pretax basis for eligible medical expenses. In 2013, there is a $2,500 limit to the amount of money you can put in a flexible spending account. The limit for dependent care remains at $5,000.

Cadillac Health Insurance Plan Tax – Asteep 40% penalty for being enrolled in a health insurance policy that costs $10,200 or more for a single member or $27,500 or more for a family will be imposed in 2018. This tax is causing many health insurance carriers to lower costs and many citizens to find a lower-cost health insurance policy.

On the other hand, some Medicare benefits are being cut, and some illnesses or surgeries previously considered appropriate for an overnight hospital stay are now considered outpatient, resulting in increased billings. If you typically claim unreimbursed medical expenses on your tax return: You may not get to do so now — they must be 10 percent of your income, up from 7.5 percent in the past.

The Affordable Care Act is long reaching and affects everyone regardless of what tax bracket you fall into. This legislation is all set to bring in sweeping changes to the US healthcare system, providing better care for patients and ensuring the long-term viability of the industry by embracing the reforms.

Regulatory changes for small business in 2013

The calendar won't be the only thing changing for small businesses this New Year. Small businesses will have to look out for regulatory changes in 2013 that will change the way they operate. These potential regulatory norms would require significant adjustments to the way the businesses operate.

Changes in Tax Rates

A majority of small businesses are organized in such a way that revenues are taxed at the individual rate instead of the corporate rate. Without action from the federal government, the expiring tax cuts will increase individual tax rates in 2013, resulting in a tax rate hike for many small businesses. In addition, the capital gains rate would also increase. Gains on assets held longer than a year would be taxed at 20 percent instead of the present 15 percent for middle-income and upper-income taxpayers. The rate for lower income taxpayers would rise to ten percent from zero.

If the current tax cuts are allowed to expire, businesses will also face a decrease in allowable expenses and real property will no longer be included. The start-up deduction for businesses will also be reduced from $10,000 to $5,000. For business owners looking to leave their business assets to their heirs, or for those who may inherit assets, the maximum estate tax rate would increase from 35 percent to 55 percent. At the same time, the maximum exemption  would decrease to $1 million from $5 million.

In addition to these, the steady increase in cyber frauds, impending immigration and healthcare reforms make it imperative for small businesses to have adequate checks and balances in place.

How to reduce taxes?

The easiest way to reduce income taxes is to either increase deductions or defer income. Small business owners can increase deductions in a variety of ways, including purchasing supplies and equipment before the end of the year to be used in the future. Paying bills early, prepaying for maintenance and subscription plans and making charitable donations can prove significant if done before the end of the year. On the basis of accounting method used, business owners can also depreciate assets to create additional deductions.

Small business owners can defer income by contributing to qualified retirement plans such as 401(k), IRA & SEP accounts before the end of the year. Some types of investments, like annuities, also allow investors to defer taxes. Investors avoid paying federal income taxes on the principle and interest until they withdraw the money.

A sound business recovery and continuity program is a must. Emphasis must be laid on key vendors having adequate processes to ensure uninterrupted service in the event of extreme weather or other unforeseen circumstances. Critical documents like tax returns and other financial documents must be maintained at alternative locations for protection and adherence to retention guidelines.

Professional help can help facilitate these proceedings

A certified tax & accounts outsourcing service provider can be a valuable professional resource, particularly when it comes to helping business owners identify and take advantage of opportunities to reduce their income tax burden. In addition to providing guidance and expertise regarding qualified retirement accounts and strategies for deferring income, they can help small business owners manage cash flow, plan for growth, and mitigate risk.

How are you preparing your small business for the looming tax changes? Have you considered outsourcing solutions to help your small business get through with minimal financial losses?

A professional outsourcing company like GKM can help you make sound decisions that benefit both your business and personal interests.

Unconventional funding avenues for small business

Acquiring capital is a challenge that virtually every small business faces at some point or another. Financing a startup is not always easy, but, traditionally, entrepreneurs have relied upon small business loans to get their new companies up and running. Today, however, securing such capital is not an easy task. Ask any small business owner how they would obtain capital for operations or growth - chances are they would reply through a bank loan, or debt. Unfortunately this traditional avenue of capital has been, and continues to be largely unavailable for small businesses. A glance at the numbers from a recent study shows that: 

·         78% of small businesses call it "difficult" to raise debt financing

·         56% of small businesses are denied bank loans; and

·         45% of small businesses were forced to transfer personal assets to their business

Obtaining financing for a small business even in a healthy economy can be challenging, since many business owners lack operating experience and solid credit history. Today's tight lending environment is making it even tougher for entrepreneurs to raise money to operate and grow their businesses.

Both entrepreneurs and funding providers realize that the lack of available credit is hampering their ability to make this happen. Solutions exist, but they often require some out-of-the-box thinking and aggressive efforts on everyone's part.

If a traditional loan is not secured, small business owners may also be able to access alternative sources of capital with some aggressive efforts and out-of-the-box thinking. Listed are a few to get started on:

Local Communities:

One of the most widely overlooked sources for small business capital is the local community. In recent years, there has been a unified push for consumers to support local small businesses and to 'buy local'. There's no reason why people shouldn't be able to easily 'invest local' as well. Statistics show that 7 in 10 small businesses that raise money from their community are successful.  

City & State Resources:

There are lots of government agencies and non-profit organizations that financially support small businesses. You can check with the respective city and state economic development agency to see if there are specific programs or grants associated with your particular industry cluster. 

Funding Matchmakers:

The landscape of small business capital is quickly expanding. This has spawned a new breed of companies focused entirely on helping you get matched with the best type of funding for your business. Companies like FundWell, Lendio and Multifunding are dedicated to advising you on all of the options on the spectrum.

Although bank lending to small businesses is on the wane, new and innovative alternatives have surfaced to the mainstream. They are readily available to those open to doing things a little differently.

IRS loses lawsuit challenging authority to regulate tax preparers

Last year, three independent tax preparers, Sabina Loving of Chicago, Illinois, John Gambino of Hoboken, N.J., and Elmer Kilian of Eagle, Wisconsin, took on the IRS, accusing it among other things, of lacking the authority to license tax preparers. The three retained lead attorney Dan Alban of the Institute for Justice, a libertarian public interest law firm, in filing suit against the IRS in the U.S. District Court for the District of Columbia. 

U.S. District Court Judge James E. Boasberg issued an opinion that would bar the IRS from regulating tax preparers – all just days before the new tax season officially opens for business. (Jan 30, 2013)

The scheme to regulate tax preparers was a top priority for the IRS which felt that requiring tax preparers to register with the IRS, pass a competency test and take continuing education classes would protect taxpayers from potentially fraudulent preparers. The new system required registration (along with a fee), a competency exam and annual requirements to take at least 15 continuing education credits. In exchange for compliance, beginning in 2011, the IRS began issuing PTINs (Preparer Tax Identification Numbers) which must be included on paid returns; a public database of those tax preparers with valid PTINs was expected to be posted on the IRS web site.

But not everyone thought that regulation was a good idea: Under the new rules, attorneys, CPAs and enrolled agents (EAs) are exempt from the competency testing and continuing education requirements. That means that the real burden of complying with the new regulations tends to hit independent tax preparers and small businesses disproportionately – those who, under the new rules, must meet the criteria to be called a Registered Tax Return Preparer (RTRP). Without that designation, unless a preparer meets an exemption or exception, he or she may not work. Loving – and other tax preparers – thought those rules were unfair. That's how the matter ended up in district court.

Generally, a final ruling by a district court can be appealed to the United States court of appeals in the federal judicial circuit in which the district court is located. In this case, the matter would be appealed to the United States Court of Appeals for the District of Columbia Circuit – we can expect an appeal from the IRS.

But while all that gets sorted out, tax preparers wonder: what does this all mean for the upcoming tax season? That's not exactly clear. In theory, the decision should allow unregulated and unregistered tax preparers to file tax returns when the season opens on January 30. However, that's just days away – and the IRS has a system in place already predicated on the idea that preparers have to be registered with a valid PTIN. Whether a return submitted by an unregistered preparer will bounce because of the IRS system is yet to be determined. The IRS has not yet issued a statement about the ruling.

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How to bring back black money stashed offshore to India?

கறுப்புப் பணம்.. பொது மன்னிப்புதான் தீர்வு!

இந்தியாவிலிருந்து இதுவரை வெளியேறிய கறுப்புப் பணத்தின் அளவு பல லட்சம் கோடி ரூபாய் என சமீபத்தில் ஒரு தகவல் வெளியாகி எல்லோரையும் அதிர்ச்சி அடைய வைத்தது.

கிட்டத்தட்ட 150 நாடுகளில் கணக்கெடுப்பு நடத்திய நியூயார்க்கைச் சேர்ந்த குளோபல் ஃபைனான்ஷியல் இன்டெக்ரிட்டி, ஒவ்வொரு நாட்டிலிருந்தும் இதுவரை வெளியேறிய கறுப்புப் பணம் எவ்வளவு என்கிற புள்ளிவிவரங்களை வெளியிட்டிருக்கிறது. இந்த ரிப்போர்ட்படி, 2010-ல் மட்டும் ரூ.8,720 கோடி கறுப்புப் பணம் இந்தியாவிலிருந்து வெளிநாடுகளுக்குச் சென்றிருக்கிறதாம். 1947முதல் 2010-ம் ஆண்டுவரை மொத்தமாக சுமார் ரூ.12,64,400 கோடி (232 பில்லியன் டாலர்)  கறுப்புப் பணம் வெளிநாடு களுக்குப் போயிருப்பதாகச் சொல்லி இருக்கிறது.

வெளிநாடுகளில் கறுப்புப் பணம் வைத்திருப்போர் பட்டியலில் சீனா மற்றும் மெக்ஸிகோ நாடுகள் முதல் இரண்டு இடங்களைப் பிடித்துள்ள நிலையில் இந்தியா எட்டாம் இடத்தில் உள்ளது. அரசியல் அதிகாரத்தில் இருப்பவர்கள் பெறும் லஞ்சம் மற்றும் ஊழல் பணம், சில பெரும் தொழிலதிபர்கள் வரி ஏய்ப்பு செய்து சேர்க்கும் பணம் போன்றவைதான் கறுப்புப் பணமாக  வெளிநாட்டு வங்கிகளில் தஞ்சம் அடைகிறது. எதிர்காலத்தில் அரசியல் மற்றும் வியாபாரத் தேவைக்கு பயன்படும் என்கிற நோக்கத்தில்தான் இந்தப் பணத்தை வெளிநாட்டு வங்கிகளுக்குக் கொண்டுபோய் பதுக்கி வைக்கிறார்கள். ஆனால் இந்த பணம், பல சமயங்களில் எடுக்கப்படாமல்,யாருக்கும் பயன்படாமல் போய்விடுவது கொடுமையான விஷயம். இந்தப் பணத்தை இந்தியாவுக்கு சரியாக கொண்டுவர முடியும்பட்சத்தில் மின் உற்பத்தி, உள்கட்டமைப்பு,சுகாதாரம், கல்வி போன்ற பல முக்கியத் திட்டங்களுக்கு அதிக அளவில் செலவுசெய்ய முடியும்.  

மீட்பது சாத்தியமா?

வெளிநாடுகளில் இருக்கும் கறுப்புப் பணத்தை மீட்பது இரண்டு விதங்களில் சாத்தியப்படலாம். ஒன்று, தீவிர அரசாங்க நடவடிக்கை மூலம் பிற நாடுகளுடன் ரகசிய ஒப்பந்தம் செய்துகொண்டு மீட்க முயற்சி செய்வது.  இரண்டாவது, பணத்தைக் கொண்டு சென்றவர் தாமாகவே முன்வந்து இந்தியாவிற்குள் மீண்டும் கொண்டுவர வாய்ப்பு அளிப்பது.

இந்தியாவில் கடந்த முப்பது ஆண்டுகளில் மூன்றுமுறை 'தாமாக முன்வந்து வரிச் செலுத்தும்’திட்டங்களை வருமான வரித்துறை அறிமுகப்படுத்தியது. கடைசியாக 1997-ல் அறிமுகப்படுத்தப்பட்ட திட்டத்தில் Voluntary Disclosure of Income Scheme (VDIS) சுமார் 3,50,000வரிதாரர்கள் கிட்டத்தட்ட ரூ.7,800 கோடி கறுப்புப் பணத்தை வெளிக்கொண்டு வந்து அதற்கான வரியைச் செலுத்தினார்கள்.  

இவை அனைத்தும் உள்நாட்டில் இருக்கும் கறுப்புப் பணத்தை வெளிக் கொண்டுவர அறிவிக்கப்பட்ட திட்டங்கள். இதுவரை வெளிநாட்டில் இருக்கும் கறுப்புப் பணத்தைக் கொண்டுவர எந்த திட்டமும் போடப்படவில்லை. ஆனால், வெளிநாடுகளில் இது மாதிரியான முயற்சிகள் நடந்திருக்கின்றன. ஜெர்மனியானது, வெளிநாட்டில் ஏதும் சொத்துக்களையோ அல்லது பணத்தையோ வைத்திருந்தால் அவற்றுக்கான வரி கட்டி, சிறைத் தண்டனையிலிருந்து விடுபடும் திட்டத்தை அறிவித்தது. ஜெர்மனியைத் தொடர்ந்து, இங்கிலாந்து, பிரான்ஸ்,அமெரிக்கா, போர்ச்சுகல், இஸ்ரேல், கிரீஸ், தென் ஆப்பிரிக்கா ஆகிய நாடுகள் இத்தகையத் திட்டத்தை அறிமுகம் செய்து கணிசமான வரிப்பணம் வசூலித்தன.

குறிப்பாக, அமெரிக்கா இத்திட்டத்தை எப்படி செயல்படுத்தியது என்று பார்ப்போம். அமெரிக்க பிரஜை  ஒருவர், வெளி நாட்டில் தன் மீதோ அல்லது தன் கையப்பத்தில் செயல்படுத்தப்படும் வங்கிக் கணக்கிலோ அல்லது நிதிச் சொத்தாகவோ 10,000 டாலருக்கு அதிகமாக வைத்திருந்தால் ஒவ்வொரு ஆண்டும் ஜூன் 30-ம் தேதிக்கு முன்பு திஙிகிஸி படிவம் தாக்கல் செய்வது அவசியம். இதை செய்யத் தவறினாலோ, வெளிநாட்டு வருமானம் அல்லது சொத்துக்களை அறிவிக்காமல்விட்டாலோ அதிகபட்சமாக 5 ஆண்டுகள் சிறைத் தண்டனை வழங்க அரசுக்கு அதிகாரம் உள்ளது.

அமெரிக்காவில் ஒபாமா பதவியேற்றபின் 2009 மற்றும் 2011 ஆண்டுகளில் OVDI (Offshore Voluntary Disclosure Initiative), OVDP (Offshore Voluntary Disclosure Programme)  என்னும் திட்டங்களை அறிமுகப்படுத்தினார். இந்த 'பொது மன்னிப்புத் திட்டத்தில்’  (Amnesty)  தாமாக முன்வந்து இதுவரை கணக்கில் காண்பிக்காதச் சொத்துக்களை காட்டி, வரி மற்றும் வட்டி செலுத்தும்பட்சத்தில் அமெரிக்க வருமானவரித்துறை (IRS)அதிகபட்ச அபராதமாக சொத்து மதிப்பில் 25 சதவிகிதத்தை விதித்து, சிறைத்தண்டனை ஏதும் இல்லாமல் மன்னித்து விட்டுவிடுவது இத்திட்டங்களின் அனுகூலம்.

இத்திட்டங்கள் வந்தபிறகு சுமார் 33,000 பேர் கிட்டத்தட்ட 5 பில்லியன் டாலர் அளவிற்கு வரி மற்றும் அபராதத்தைச் செலுத்தினார்கள். மேலும், இத்திட்டத்தை மூன்றாவது முறையாகத் தொடர்ந்து இந்த ஆண்டு அமெரிக்க அரசாங்கம் மீண்டும் அறிமுகப்படுத்தி இருப்பதைப் பார்க்கும்போது இதன் முக்கியத்துவத்தையும் வெற்றியையும் புரிந்துகொள்ளலாம். இத்திட்டங்களில் கிரிமினல் சட்டத்திற்குப் புறம்பான வருமானம் அதாவது, துப்பாக்கி வியாபாரம்,போதை மருந்து கடத்தல் ஆகியவற்றுக்கு மன்னிப்பு வழங்காது என்பது குறிப்பிடத்தக்கது.

இந்தியாவில் முடியுமா?

2012 பட்ஜெட்டில், இந்தியாவில் உள்ள வரிதாரர்கள் வெளிநாட்டில் உள்ள சொத்துகள் மற்றும் வெளிநாட்டு வருமானம் குறித்து விவரம் தெரிவிக்கவேண்டும் என சொல்லப் பட்டாலும்,அதனால் பெரிய மாற்றம் ஏதும் வந்துவிடவில்லை.

கறுப்புப் பண பதுக்கல் பேர்வழிகள், வெளிநாடுகளில் வைத்திருக்கும் கறுப்புப் பணத்தை இந்தியாவிற்குள் கொண்டுவந்து அதற்கான வரி மற்றும் அபராதம் செலுத்த பொது மன்னிப்பு வழங்கலாம். உதாரணமாக, 70 சதவிகித வரி கட்டினால் போதும், சிறைத் தண்டனை எதுவும் இல்லை என்று அறிவிப்பதன் மூலம் பலரும் இந்த வாய்ப்பைப் பயன்படுத்தலாம். இதன் மூலம் இந்தியாவை விட்டு வெளியே எடுத்துச் செல்லப்பட்ட கறுப்புப் பணம் மீண்டும் இந்திய மண்ணுக்குள் வரும் வாய்ப்பு உருவாகும்.

இப்படி ஒரு நடவடிக்கையை மத்திய அரசு எடுத்தால், பலரும் குறை சொல்வார்கள்; விமர்சனம் செய்வார்கள்.

ஆனாலும், அது பற்றி கவலைப்படாமல் பொது மன்னிப்பு அளிப்பதன் மூலம் சில லட்சம் கோடிகளாவது நமக்குக் கிடைக்கலாம். அதனைக்கொண்டு நம் நாட்டின் அடிப்படைத் தேவைகள் பலவற்றை நிறைவேற்ற முயற்சிக்கலாமே!  

Points to remember during company incorporation

1.   Can the same person be a Director as well as Shareholder of the Company?

Shareholders and directors have two completely different roles in a company. The shareholders (also called members) own the company and the directors take day to day managerial decisions including tactical and strategically decision making. However, a single person can play both the roles and can act as a shareholder as well as a director of the Company. A person invested (having shares) in the company and also having proficiency on the responsibility of managing or supervising the corporation then the person can individually play both the roles.

2.   Can I use my home address as the Registered Office address of my Company?

All Indian registered companies are required by law to have a registered office address in India. It is the address of a company to which all official letters and reminders will be sent. The registered company address must be in a state in which company is registered.

Therefore, a home address can also be used as the Registered Office address of the Company. It is not compulsorily required that an address where the company is actually situated can only be used as address of the registered office of that company.

3.   Can a Registered Office and an Administrative Office be situated at different places?

Registered Office is the location (or merely the address) where the company has registered as a corporation. All official letters and reminders will be sent at this address only. On the other hand, an administrative office is the office where the actual operations are conducted. It is for the convenience of business activities and infrastructure from where all commercial activities of a company are undertaken. So, either both can lie at the same address or can be situated at a different places too. There are no restrictions for the same.

4.  Do I need to contribute my capital immediately into the bank before incorporating a company?

To open a Company’s Bank Account, it is necessary to have the company PAN Card. Further, PAN can only be applied for only when the company is incorporated. Thus, capital amount is a pre-requisite of the company as it needs to be acknowledged in the subscriber’s sheet, which is required at the time of incorporation. Hence, deposit into the Bank is not possible, and therefore the initial capital infusion may be in cash.

5.   Can a Shareholding Ratio be in 99:1 proportion?

The ideal shareholding pattern of the company is 50:50, for a two shareholder company. But in case you intend to hold the majority stake of the company you can make the proportion to 60:40, 70:30 etc. In case if the other shareholder focuses on having a substantial interest in the company then the proportion would, in all general circumstances  be 80:20. Alternatively, to have complete stake of the company restricted to self, then the proportion has to be 99:1, since there has to be at least two shareholders of the Pvt. Ltd Company.

6.  I am already employed. Can I still be a Director of another Company?

It depends on the terms and conditions of the offer letter which you will receive as an employee of the Company. If you are not bound to any restrictions or if there is no clause in your offer letter which prohibits you to take part in some other company (directly or indirectly), then you can be a Director of other company.

7.   I am already a Director of a privately held company and therefore have a DIN. Do I need to have another DIN to become a Director of another company?

A DIN allotted to any person is valid for the lifetime of the individual like PAN Number and shall not be allotted to any other person during his lifetime. Since you are the director of the Pvt. Ltd. Co. and already having DIN, then you are not required to have another DIN, as the same can be used to become the director of other Companies or designated partners of other LLPs.

8.   Can I have two companies at the same Registered Office?

For startup companies, it is very common to share common workspace to deliver services, thereby sharing the rent of the premises and minimizing outflows in the initial years. In that case, the companies, while getting incorporated under MCA, can use the same registered address proof. In an alternate scenario, an IT professional having two different private limited companies can use his common residential address to fit the purpose.

9. What is the difference between Authorised and Paid Up Capital of a Company?

Authorised Capital is that amount of capital with which a company is registered with the registrar of companies (body responsible for registration of companies). It is the maximum amount of capital which a company can raise through shares i.e. share capital can be maximum up to the authorized capital and not beyond. Authorized capital is also called registered capital or Nominal capital.

On the other hand, the Paid up Capital is that amount of capital (out of called-up capital) against which the company has received the payments from the shareholders so far. In other words, Paid up capital means that capital for which investors have actually paid money.

10.  What is Face Value per Share?

Face value is the nominal, or stated, amount of security. The face value of a bond is the amount the issuer agrees to pay upon maturity. Face value is also the amount upon which interest payments or discount is determined.