It's a MicroSoft PowerPoint based presentation.

Global Cash Flow (GCF) - Test Your Knowledge...

I've given up waiting for the 'powers that be' to call me and ask my opinion about the reforms, as apparently, I'm not on the short call list. So, I'll try the proactive approach and offer my ideas sans the request. I've been fairly successful with this in the past. Absolutely nothing to lose.

Word has it that most corporations are in favor of corporate tax reform as a general concept. I suspect like most people are for our national debt being reduced, but not if it means their taxes will go up. Seems corporations applaud tax reform, but balk at the details when those same details portend their tax burden will increase. Who would have guessed?

Don't get me wrong - I'm not intending to give my customer advice relative to the by-pass trust within his estate plan. And, he's not expecting any advice from me. But, then again, my curiosity is peaked. What have I got to lose by simply knowing more?

For some time now, I've wondered about distributions - the ones my business customers get (or don't get) from their businesses. It's a casual wonderment; doesn't keep me awake at night, but, I just suspect there's more to them than I know. Right now, a distribution is like an acquaintance. I want something more.

Maybe I can have a conversation with a distribution just as I do with tax returns. It's worth a try.

It helps to have something physical in front of me to summon the conversation. What, I ask? Then it occurs to me - I usually see distributions when looking at my customer's Schedule K-1 issued by some pass through entity. I go to the credit file for one of customers and randomly select a K-1. I'm ready. 

Now, before I go further, a little explanation. I've talked with some of you before, and you know I have a rather singular ability to converse with tax returns, and the like. We talk to one another. I'm no longer embarrassed to admit this - I'm rather proud actually. Don't know the source of this privilege, and I no longer wonder. 

I'm hoping the American Taxpayer Relief Act of 2012 will 'talk' to me as well. That's really why I'm in the office early.

So, it got me thinking. How steep? There must be degrees of steepness - barely steep, somewhat steep, well, you get the point. And, at the far end of this spectrum is the steepness of the abyss and, I suspect that's the one the media wants us to fear.

I'm the company's business banker - have been for many years. And, although I've known this report exists, I've never asked to see it. Two of the original shareholder are thinking about leaving the business and tendering their shares back to the corporation's treasury. The customer is bringing me into the loop early in the process and I like that. I'm bringing myself 'up to speed' on some of the issues involved in the anticipated stock redemption.

So, when the customer offered the shares valuation report, I enthusiastically accepted. Truth be told, my enthusiasm was a bit 'put on'. I wanted to let the customer know I was interested, but not know I really hadn't a clue about how to read the report. Ever been there? No fun, that.

Location: AnyBank, USA - Young banker's office.

I know this needs some explanation.

Some of you will remember me from my previous conversations with tax returns. I'm a business banker and, by accident,  I found out I could hear tax returns talking to me. And, I could talk with them. Don't know how this came to be, but I'm enjoying the privilege.

Last night, my daughter Alex was watching a video with my wife. Seems this 'adventurer sort' is looking for a 'crystal skull' (rather involved, really, but there you have it). Other 'unsavory characters' are looking too.

When I was very young, my brother and I took the city bus home from school each afternoon. Mom would drop us off in the morning and in parting, say, "Take bus 14A, not 14F."  At the bus stop, waiting for 14A, vigilant I was. My younger brother, not so much. Same today.

I didn't know it then, but my anxiety about catching the right bus was needlessly self inflicted. The bus driver on the 14A route was an older gentleman and he had taken it upon himself to make sure we got on the right bus. And, I remember liking him.

The truth can now come out- Sister Mary 'Whatshername' is long gone, and I risk offending no one - I really liked writing on the blackboard. I liked everything about it - the cool slate surface, the feel of the chalk in my hand, and the sound as I wrote, the chalk dust on my uniform shirt sleeve. 

Today, I have an old school blackboard in my office. It's surrounded by a wood frame and has wheels - moveable at one time, but no longer. Got it at a silent auction some years ago. Clients initially ask about it, I respond, and that's the end of it. Some of my long standing clients know the affinity I have for it. They say it goes well with the old fountain pen I favor.