Matt Bissonnette grew up in a dinky flyspeck of a town off the Alaskan coast that you can’t get to without a boat or a plane. He ultimately escaped to join SEAL Team Six, the Navy’s most elite counterterrorism force. He took part in the 2009 mission to rescue Captain Mark Phillips from Somali pirates, a story which was told in the movie Captain Phillips. But that was just a warmup for his biggest mission: “Project Neptune Spear,” the 2011 raid that killed Osama Bin Laden.

In 2012, Bissonnette wrote a memoir called No Easy Day: The Firsthand Account of the Mission That Killed Osama Bin Laden. It earned him $6.7 million in royalties, which he planned to donate to the families of fallen SEALs. It also launched a lucrative second career as a public speaker. Unfortunately, Bissonnette broke the Pentagon rule requiring him to submit it for vetting before publishing. The day after the book landed on shelves, officials said it revealed classified information, a breach that could subject him to years in prison.

Last month, Bissonnette settled the dispute and agreed to pay back every dime of royalties, plus another $100,000 in speaking fees he earned before they approved the slides he uses in his presentations. Question: can he now deduct that payment from his taxes going forward?

Code Section 162(f) seems to shoot down any tax benefit. “No deduction shall be allowed . . . for any fine or similar penalty paid to a government for the violation of any law.” But what about payments made to settle a dispute before a fine or penalty is imposed? Treasury regulations state that payments made to settle that sort of potential liability aren’t deductible. But the regulations also state that compensatory damages do not qualify as fines or penalties.

So, that’s the $6.7 million question. Does Bissonnette’s payment serve to compensate the government for the damage his book caused? If so, then he gets his deduction. Or does it merely settle his potential liability for civil or criminal fines or penalties — in a way that benefits both the government and him by avoiding the time, expense, and potential public disclosures involved in a trial? In that case, no dice.

Bissonnette isn’t the only celebrity who may miss out on a fat tax deduction for a big gesture. Actress Amber Heard recently finalized her divorce from Johnny Depp with a $7 million lump sum payment, then announced she’s giving it all to charity. But she probably won’t get the deduction you’d expect. That’s because you can only deduct up to 50% of your adjusted gross income in any year (and carry any remaining balance forward five years). Ouch! Bet she didn’t see that coming!

Now, there are two ways Depp and Heard might be treating that $7 million. It could be a transfer between spouses, incident to the divorce. In that case, it’s nondeductible to Depp and tax-free to Heard. (Too bad her financial disclosures show she doesn’t have nearly enough income to take advantage of the full deduction.) Or it might be alimony, deductible to him and taxable to her. In that case, she’ll still owe tax on the 50% of her donation that she can’t deduct this year.

Here’s the lesson. Sometimes pricey things happen, and we console ourselves by saying “at least I get a tax deduction.” But that’s not always true, and it’s rare that value of the tax deduction is enough to compensate for the loss that creates it. So contact Ed Lloyd with Ed Lloyd & Associates before your next big transaction and make sure it serves you best!

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Ed Lloyd CPA is a Certified Public Accountant, Personal Financial Specialist and Certified Tax Coach. His firm Ed Lloyd and Associates, PLLC workers six experts committed to giving proactive wanting to their customers.

Charge arranging thoughts are actualized by the Firm to guarantee the new expense investment funds are taken care of effectively. All customers start with a duty arrangement session to reveal missed open doors. The normal customer sees $50,000 in assessment lessening on a yearly premise, making our administrations a speculation not another cost. There are five distinctive assessment arranging administrations accessible to address the issues of customers with respect to structure, development, riches administration, charge lessening and leave periods of their organizations. To know more you can visit Ed Lloyd & Associates, PLLC official account on LinkedIn.

Aside from duty administrations which incorporate bookkeeping administrations, budgetary execution survey, government form, charge making arrangements for people and organizations, evaluating, determining issues of finance assessment, and so forth., the firm gives extensive variety of business administrations also. It causes in get ready everyday records, accounting, helping with the best bookkeeping programming to buy and even guide the business how to utilize it. They additionally give in development administrations, confirmation administrations, business valuation, and significantly more.

Ed Lloyd CPA at Ed Lloyd & Associates, PLLC: The secret to a smooth tax season  bargains in verging on each industry and business sort, however they exceed expectations in medicinal services, land, development and temporary worker industry organizations, proficient administrations, establishments and family possessed organizations.


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Ed Lloyd & Associates, PLLC

It is not easy to understand how the economy works. Most people do not know the rules of taxation and how money can be saved. That’s the reason why people have hard time managing their finances even after earning a decent amount of money. The problem can be solved by hiring a financial advisor. With the help of such an expert, you will be able to reduce your tax, keep a record of the accounts, make the right investment decisions and a lot more. But you can do all this only if you find the right expert, which is not very easy. There are so many firms and individuals in this field. You cannot meet with all of them to figure out which one would be good for you. The easy way is to just hire Ed Lloyd & Associates PLLC: One of the best Financial Advisors in Charlotte.

Ed Lloyd is a certified public accountant (CPA) from the North Carolina State Board of Examiners. Besides that, he is also a personal financial specialist (PFS) and a certified tax coach (CTC). He did his degree of B.S. in accounting and in 1994 established his own firm. He serves as the managing director of his firm, but still keeps an eye on the accounts of every client. All the professionals at this firm are really good at what they do. If you are facing any problem with financials, contact Ed Lloyd CPA at Ed Lloyd & Associates, PLLC: the secret to a smooth tax season.


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The World Bank describes a Financial Management Information System as the robotization of cash related operations. Computerization is proficient through the usage of cash related accounting applications and database organization systems. The usage of FMIS applications is proposed to improve the recording of events, treatment of trades and reporting of cash related information in your business.

Tax strategiesThe Ed Lloyd And Associates, PLLC application gives lucky, precise, reliable and obvious information that surge your decision making strategy. It gives advanced money related reporting and decision making approach for evaluating the advantages or shortcomings of you’re operational and indispensable approaches to manage business. This decreases insecurities that may crash your execution of discriminating business decisions. Do you still have doubt why hire Ed Lloyd CPA?

Utilization of Ed Lloyd And Associates updates you’re occupying and suspecting breaking point. This enables you to allocate your money related resources suitably and set sensible execution targets. Limit the degree of your courses of action to your cash related resource limits. The sensible organizing breaking point moreover revives the achievement of your goals within the fancied time period.

You stay to fulfill more critical viability in money related operations and reporting systems when using FMIS applications. These systems dive in the controls you need to take out misuse of cash related resources, furthermore the balance measures you use to guarantee your business against the occasion of expected and unexpected threats. The control measures also give the recorded evidence of execution you need to deal with the present and future activities of the business. Investigators similarly use this true affirmation to evaluate the headway of your business.

Ed lloyd & partners pllc an exceedingly presumed and recognized bookkeeping firm in the united states gives you with a framework to organizing valuable systems and cash related resources in your business. This animates the planning of trades and development of financial information, despite discarding duplicate activities and commitments along the affiliation’s progressive system of initiative. Systems joining furthermore gives you more important impact to uniting shared organizations keeping in mind the end goal to diminish operational costs associated with running different operational units for the common organizations. The allocation of FMIS applications raises the high ground of the business. In all actuality, the key estimation of information advancement is discriminating in the movement of purchaser steadfastness and improvement of benefit.


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It is very important for you to protect your children. It is the responsibility of the parents to protect the children financially or legally in any case, says Ed Lloyd & Associates PLLC – one stop shop to address all your Finance related needs. The CEO of the firm, Ed Lloyd stresses on this point and says that unfortunately many parents are not aware about these aspects.

Life insurance is one of the important steps that you can take for your children. This can secure them in their future, if something happens to you in the future. According to the Ed Lloyd & Associates PLLC ,if you do not do this, you are calling for sure shot trouble in the future. Till the time your children become financially independent, they are totally dependent upon you and they are your responsibility.

Term life insurance is a good choice for you and this enables you to purchase coverage for a particular number of years. This insurance is considered as one of the most affordable type of life insurance.

Ed Lloyd & Associates PLLC says that updating yourself legally is also very important along with being financially secure for your children. You can take the help of a financial adviser as well. He or she is the person who can help you determine your financial goals. He or she will also tell you about the total amount of coverage that you may need in your future.

The financial adviser can also advise about the home stay insurance, if one of the parents is staying at home and the other is working. Even if you become disabled, you can also get the disability insurance that is deducted from the part of your salary, says Ed Lloyd & Associates PLLC. Health is very important for you and your children and it is well required in the US to choose a good health plan. It can easily help you to acquire maternity coverage as well. The parents should always have an emergency savings for their family and children.


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Ed Lloyd & Associates is a firm that specializes in delivering quality accounting and tax planning services in the United States. Accounting and tax planning are specific fields and one needs outstanding knowledge and acquaintance to make a mark in these disciplines. Ed Lloyd is a spotless name in these fields and is a Certified Public Accountant (CPA) who is completely qualified to practice in the Charlotte region.

With years of experience in the field, Ed Lloyd CPA, PFS, CTC – Certified Tax Coach has gained immense knowledge and expertise to pass on meticulous services in the field of accounting and tax planning. No matter whether you are a small business, a mid-sized or a large organization, he is capable of surpassing the expectations of the business clients each and every time.

The professionals of Ed Lloyd & Associates- Charlotte CPA Firm take the time to know the processing of your business.  After knowing the financial status of your company, they could guide you in the best decisions to make to ensure your company to be financially stable. They are extremely efficient in their jobs and offers quality accounting and tax planning services to small as well as large scale companies and also individuals.

Ed Lloyd & Associates are your best partners who would not walk off at the toughest phase of your life. But, will provide you exceptional services that will improve the functioning of your business and enhance productivity and processing of your business. If you want your business to get a wide exposure, then make no delays and immediately contact the professionals of Ed Lloyd & Associates.


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Ed Lloyd CPA is a shining name in the field of accounting and is a Certified Public Accountant (CPA) who is completely qualified to practice in the United States. Ed Lloyd brings his years of rich experience and complete learning about the field of accounting and tax planning. He has cemented his place strong in the business and is trusted by a substantial number of clients for his remarkable approach with which he is able to provide them with the best accounting and tax planning solutions.

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America’s Tax Coach with Ed Lloyd CPA, own a company Ed Lloyd & Associates PLLC. It is a leading and reputed company which is known for passing on meticulous accounting and tax planning services in the United States and beyond. Ed Lloyd is a man who is trusted by enormous businesses for acquiring dependable and flawless services for accounting and tax planning. He follows high work standards and his approach is extremely transparent.

Ed Lloyd, taking advantage of his years of experience and knowledge is able to provide his clients a wide range of accounting and tax planning services that go a long way in strengthening the foundation of your business. He pays adequate attention to the needs of clients so that they are able to improve the functioning and performance of their business. You do not need to worry when you know a highly skilled professional is there to assist you with the various services. Therefore, review our highly skilled professionals of Ed Lloyd & Associates, PLLC – Charlotte, NC now and take your business to the next level.


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Solution to all your Accounting Needs

Ed Lloyd & Associates is considered as a one-stop solution provider to all your accounting needs. It is a Charlotte-based firm delivering accounting and tax planning services to the business and organizations. It has a team of some highly competent, qualified and experienced accountants that can help you advance the performance of your business. After cautiously assessing the requirements of your company, they would come up with a grand plan that would help you calculate costs incurred expertly. You may also rely upon the team Ed Lloyd CPA and Associates to get an expert advice on how to make sound financial investments.

The team at Ed Lloyd & Associates goes an extra mile to understand the requirements of your business. They are the leaders in the field of accounting and are resolved to pass on exceptional services each and every time. Happy business clients have regularly reported that they are the BEST service providers in the region.

Trusting your accounting needs with Ed Lloyd & Associates is one of the wisest decisions that you are going to make in your life. They will not only give your business a competitive edge, but will also outshine your competitors. There are numerous benefits of trusting your accounting needs with Ed Lloyd CPA. You can enhance the efficiency of your business with the help of Ed Lloyd CPA. Contact him now and boost up the performance of your business. They offer much more than it could be put into words. Get in touch with them now to know more.


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Ed Lloyd & Associates PLLC is a trusted, reputed and leading firm offering top-notch accounting and tax planning services in the United States.  It is considered as one of the trusted sources from where businesses and corporations can seek expert financial services effectively.  The quality accounting and tax planning services delivered by  Ed Lloyd CPA go far in saving your hard earned money and giving your business a competitive edge.

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There are various benefits that you can expect after trusting your accounting and tax planning needs with Ed Lloyd & Associates.  The owner of the company, Ed Lloyd is a certified public accountant, personal financial specialist and certified tax coach himself. He has a team of trusted, credible and experienced professionals who,  after understanding the needs of your business would suggest you various options to choose from that can enhance the efficiency of your business.

Ed Lloyd CPA, PFS, CTC – Certified Tax Coach go an extra mile to understand the needs of the business and deliver quality services each and every time. He believes in complete customer satisfaction and does not stop making efforts unless he has satisfied the business client.  He , along with his team has served a number of business clients who can speak for the professionalism and expertise of the professionals.  If you are troubled over the unstable financial status of your business, then contact the highly skilled professionals of Ed Lloyd CPA and they would be more than pleased to deliver you quality services fulfilling the needs of your business effectively.


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Professional Accountant to maintain your Official Accounts

You invest your hard earned money, valuable resources and time to build a business.  The need of professional accountant comes into the limelight to maintain your books and official accounts in updated manner so that the exact financial condition of the company can be known.

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A professional accountant can help you figure out the best way to use your assets for the most beneficial financial advantage. The financial health of your small business should be trusted to a professional who can help you in guiding the process and offer valuable counsel on what information is key for any business to be aware of.

Ed Lloyd & Associates PLLC is a Charlotte-based firm that has been delivering meticulous accounting and tax planning services. Being backed up by a team of some highly skilled, enthusiastic professionals, they are able to pass on meticulous services each and every time.   The professional accountants of Ed Lloyd CPA can assist with appraising the viability of future projects to gain and loss forecasts. The expertise of a professional accountant can be instrumental in preparing business proposals and plans that will grow your company.

When there are so many benefits that you can get after trusting your job with the professionals of Ed Lloyd & Associates, then what are you waiting for? Get in touch with them right now and take your business to the next level with the help of expert accounting and tax planning services.  They offer much more than it could be put into words. Contact them to know more!


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