Michael Gray, CPA’s Option Alert #78

An irregular alert for issues relating to employee stock options

March 3, 2010
© 2010 by Michael Gray, CPA
ISSN 1931-2768

(If you find this information valuable, please pass it on to a colleague!)

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Happy St. Patrick’s Day!

St. Patrick’s Day falls on Wednesday, March 17, this year. Did you know that in Ireland the symbol of St. Patrick is a three leaf clover, not a “lucky” four leaf clover? St. Patrick used the three leaf clover as an analogy to teach about the Trinity. Also, the corned beef and cabbage dinner lovingly preserved as a St. Patrick’s Day tradition in the United States is not observed in Ireland. Enjoy the day of the wearin’ of the green! (Orange for Protestants.)

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One month until April 15!

This newsletter is a reminder that there is only a month left until April 15. We can still accept a few more tax returns, although we might be applying for extensions of time to file for some. Call Dawn Siemer on a Monday, Wednesday, or Friday from 9am to 5:30pm at (408) 918-3162 for information or an appointment.

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Yes, we prepare tax returns for clients in other states

You might be interested to know we have clients in many different states. Thanks to email, fax, mail and the telephone, distance isn’t an issue. We also have excellent tax return preparation software and reference material for other states.

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Correction to article with our last newsletter

The title for the article with our last newsletter should have been “Investing In Pre-IPO Stock With A Roth.” Only cash can be contributed to an IRA except with a rollover or trustee-to-trustee transfer. See our website article. Sorry for the mix-up.

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John Olagues book signing in San Jose

John Olagues, options trader and author of Getting Started In Employee Stock Options, will be signing copies of the book at Barnes and Noble, 3600 Stevens Creek Boulevard in San Jose. (Corner of Stevens Creek and San Tomas Expressway.) The book signing will take place Saturday, March 20 from 1 p.m. to 2 p.m.

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Financial Insider Weekly broadcast schedule for March and April.

Financial Insider Weekly is broadcast in San Jose and Campbell on Wednesdays at 4:30 p.m., Pacific Time. You can watch it on Comcast channel 15 for those cities. The show is broadcast as streaming video at the same time at www.creatvsj.org.

Here are the scheduled interviews for March and April:

March 17, Tom Anderson of Pensco, “Real estate investments in your IRA or Roth account”
March 24, Tom Anderson of Pensco, “Alternative investments in your IRA or Roth account”
March 31, John Olagues, “Employee stock options – the basics”
April 7, John Olagues, “Employee stock options – hedging strategies”
April 14, Lori Greymont of Summit Solutions Team Corp., “Real estate investment strategies I”
April 21, Lori Greymont of Summit Solutions Team Corp, “Real estate investment strategies II”
April 28, James Quillinan, Esq. of Hopkins & Carley, “California real estate change of ownership rules in estate and business planning”

Financial Insider Weekly is also broadcast as follows:

  • Sunday at 5:00 p.m. on Comcast channel 28 in Hayward, Alameda and Fremont. Also, throughout California on AT&T U- Verse channel 99, select Hayward public access television 28
  • Monday at 7:30 p.m. on Comcast channel 15 in Saratoga
  • Thursday at 5:30 p.m. on Comcast channel 27 in Santa Cruz County and Charter Communications channel 73 in Capitola and Watsonville
  • Thursday at 7:00 p.m. on Comcast channel 26 and AT&T U-verse channel 99 in Marin County
  • Thursday at 10:00 p.m. on Comcast channel 28 in Hayward, Alameda and Fremont. Also, throughout California on AT&T U- Verse channel 99, select Hayward public access television 28
  • Friday at 4 p.m. on cable channel 15 in Cupertino, Los Altos and Mountain View.

Past episodes of Financial Insider Weekly are posted on YouTube. One way to watch them is to go to our web site, www.financialinsiderweekly.com and click on “Past Episodes.”

Let me know any ideas that you have for topics or guests. Guests will usually have to be located in or near the Silicon Valley in California.

Hope you can watch or record the show. Please tell your friends about it!


Michael Gray regrets he can no longer answer emails personally. He will answer selected questions in this newsletter.

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Follow me on Twitter, Facebook or LinkedIn!

If you enjoy Twitter, please follow me at www.twitter.com/michaelgraycpa. I would especially appreciate retweets of our messages announcing episodes of Financial Insider Weekly.

I’m also on Facebook and Linked In. You can also follow me on other social media sites, bit.ly/cVALrY and www.linkedin.com/in/michaelgraycpa.

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Check out my blog.

I have also started a blog at www.michaelgraycpa.com. Check it out!

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Do you know about our other newsletters?

For general tax developments, tax planning ideas, business development ideas and book reviews, subscribe to Michael Gray, CPA’s Tax & Business Insight.

We are now offering our real estate tax newsletter, Michael Gray, CPA’s Real Estate Tax Letter, free of charge. Like this newsletter, we will talk about new developments, have reports on special tax concerns, and answer questions and answers. To subscribe and read a sample issue, visit realestatetaxletter.com.

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IRS Circular 230 Disclosure:

As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this communication was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

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Consult with a tax advisor

For our readers who aren’t tax advisors, this newsletter is intended to alert you about tax issues that could affect you. It is not a substitute for advice from a professional tax advisor. You will find that getting advice from a qualified advisor is a worthwhile investment.

Tax advisors should view the newsletter as an alert to become aware of issues relating to employee stock options for further research and study.

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Subscribe to Michael Gray, CPA’s Option Alert!

To receive the next issue of Michael Gray, CPA’s Option Alert with more employee stock option tax developments and answers to questions from our readers automatically via email, subscribe by filling out the form below.

(Michael Gray is the author of Secrets of Tax Planning For Employee Stock Options, Stock Grants and ESOPs.)

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