Latest news with #portability
South China Morning Post
3 days ago
- Business
- South China Morning Post
Hong Kong lawmakers support MPF change to make accounts fully portable
Hong Kong lawmakers expressed support for allowing 'full portability' in the city's Mandatory Provident Fund (MPF) , which would allow members to move their entire pension balance to a different provider once a year. Legislative Council panel meeting discussed a legal change on Monday that would implement full portability next year. Currently, members can move their own contributions, but not those made by their employer, once a year. Chief Executive John Lee Ka-chiu unveiled the proposed change in his policy address in October. The change would 'give more choice to employees, while also adding to competition in the industry', said lawmaker Robert Lee Wai-wang, who is also the chairman of Hong Kong-based Grand Finance Group. 'The full-portability reform aims to encourage employees to proactively manage their MPF investments and promote market competition, thereby creating room for fee reductions,' said Sharon Ko Yee-wai, deputy secretary for Financial Services and the Treasury, during the council's financial affairs panel. Established in 2000, the MPF is a compulsory retirement scheme that requires employers and employees to each pay 5 per cent of the salary, up to a combined HK$3,000 (US$385) a month, into an investment account managed by one of 12 MPF providers. At the end of March, the scheme covered 4.75 million members and had total assets of HK$1.338 trillion Only employers could choose the MPF provider until 2012, when the Employee Choice Arrangement was introduced. Commonly known as 'semi-portability', this allows employees to transfer their own contributions – but not those made by their employers – to a new provider once a year. Employees conducted about 1 million transactions involving HK$50 billion under the semi-portability regime from its launch up to April of this year, Ko said.
Geeky Gadgets
23-05-2025
- Geeky Gadgets
Meet the 2025 Surface Pro 12: Unboxing & Initial Setup
The 2025 Surface Pro 12 redefines the standard for portability and versatility in the competitive 2-in-1 device market. Designed to cater to light productivity and creative tasks, it combines a sleek, lightweight design with robust processing power and a vibrant display. Starting at $799, it targets users seeking a compact yet capable solution for everyday computing. However, potential buyers should consider trade-offs, such as limited gaming performance and additional costs for essential accessories, before making a purchase. The video below from Zollotech gives us more details. Watch this video on YouTube. Design and Build Weighing just 1.5 pounds (686 grams), the Surface Pro 12 is one of the lightest devices in its category, making it highly portable for users on the go. Its aluminum body not only ensures durability but also aids in heat dissipation, eliminating the need for internal fans. Sustainability is a key focus, with battery cells made from 100% recycled cobalt, reflecting Microsoft's commitment to eco-friendly practices. The device is available in three elegant colors—Violet, Ocean, and Platinum—and features a sturdy kickstand that supports multiple angles, enhancing usability in various scenarios. However, the absence of a headphone jack and expandable storage may disappoint users who rely on wired audio or require additional storage flexibility. These omissions could limit its appeal to certain segments of the market. Display The 12-inch PixelSense LCD display is a standout feature, offering a resolution of 2196×1464 and a pixel density of 220 PPI. It supports 10-point multi-touch and delivers sRGB color accuracy, making it ideal for creative professionals and productivity tasks. The default 60 Hz refresh rate can be increased to 90 Hz, providing smoother visuals for scrolling and animations, which enhances the overall user experience. However, the reflective screen and 400 nits of brightness may pose challenges in brightly lit environments, such as outdoor settings or areas with high glare. This could impact usability for those who frequently work in such conditions. Performance At the core of the Surface Pro 12 is the Snapdragon X Plus processor, which delivers a 50% performance boost compared to its predecessor. Its 8-core architecture, clocked at 3.3 GHz, is paired with 16 GB of RAM and up to 512 GB of storage, making sure smooth multitasking and efficient handling of productivity apps like Microsoft Office and Figma. The fanless aluminum body effectively dissipates heat, maintaining consistent performance during extended use. Benchmark tests reveal impressive results, with single-core scores of 2,210 and multi-core scores of 9,560, making it a reliable option for everyday tasks. However, the device is not designed for resource-intensive tasks or high-end gaming, which may deter power users seeking a more robust performance profile. Ports and Connectivity The Surface Pro 12 is equipped with two USB-C 3.2 ports, offering fast data transfer and charging capabilities. However, the absence of USB-A and the traditional Surface Connect port may require users to invest in adapters for older peripherals. With Wi-Fi 7 support, the device ensures faster and more stable internet connectivity, making it suitable for remote work and online collaboration. Additionally, it can connect to up to two external 4K displays at 60 Hz, making it a practical choice for multitasking, presentations, or extended work setups. Accessories To fully use the Surface Pro 12, users will need to invest in optional accessories. The Surface Pro 12 Keyboard, priced at $150, features a backlit design but lacks the Alcantara palm rest found in earlier models. The Surface Pen, available for $129.99, offers haptic feedback for a more tactile writing experience and attaches magnetically to the device's back for convenience. Notably, the device does not include a power adapter, requiring users to purchase a minimum 27W USB-C charger separately. These additional costs can significantly increase the overall investment, which may be a consideration for budget-conscious buyers. Cameras and Audio The Surface Pro 12 features a 10 MP Ultra HD rear camera and a 1080p front-facing camera, both of which deliver sharp and clear visuals. The front camera supports Windows Hello facial recognition, providing a secure and convenient login experience. Audio performance is enhanced by dual studio microphones and improved speakers, which deliver clear sound with volume levels reaching up to 85 dB. This makes the device well-suited for video calls, online meetings, and media consumption, making sure a seamless experience for both work and entertainment. Battery Life Battery performance is a strong point for the Surface Pro 12. It offers up to 12 hours of active web use and 16 hours of video playback, making sure all-day productivity for most users. The device also supports 45W fast charging, allowing for quick recharges and minimizing downtime. In keeping with its eco-friendly design, the battery cells incorporate recycled cobalt, further emphasizing Microsoft's commitment to sustainability and environmentally conscious manufacturing. Software and Features Running on Windows 11, the Surface Pro 12 integrates Microsoft's Copilot feature, which uses AI to enhance productivity and streamline workflows. The device is optimized for popular apps like Figma and Microsoft Office, making it a reliable tool for students, professionals, and creatives alike. While the device supports cloud gaming, its performance is insufficient for demanding titles, limiting its appeal to casual gamers. This positions the Surface Pro 12 as a better fit for productivity and light creative tasks rather than intensive gaming or video editing. Limitations Despite its many strengths, the Surface Pro 12 has some notable limitations. The absence of Gorilla Glass protection leaves the display more vulnerable to smudges and potential damage. Additionally, its performance is not suited for resource-heavy tasks, such as video rendering or 3D modeling, which may deter users with more demanding needs. The lack of included accessories, such as a power adapter, further increases the total cost of ownership. This could be a significant drawback for buyers looking for an all-in-one package without additional expenses. Pricing Starting at $799, the Surface Pro 12 is competitively priced within its category. However, the cost of essential accessories, such as the keyboard and pen, can significantly increase the overall investment. Configurations vary based on storage and processing power, allowing users to select a model that best fits their specific needs and budget. Final Thoughts The 2025 Surface Pro 12 is a versatile and portable 2-in-1 device that excels in light productivity, creative tasks, and everyday computing. Its lightweight design, vibrant display, and advanced connectivity options make it an attractive choice for students, professionals, and casual users. However, its limitations in gaming performance, the absence of included accessories, and the lack of certain features may not suit all users. For those seeking a compact, eco-friendly device and willing to invest in the necessary add-ons, the Surface Pro 12 offers a compelling and practical solution. Discover other guides from our vast content that could be of interest on Surface Pro 12. Source & Image Credit: zollotech Filed Under: Guides, Laptops Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. 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Forbes
19-05-2025
- Business
- Forbes
Portability: Should You File An Estate Tax Return?
Introduction When the first of two spouses dies the survivor can safeguard the estate tax exemption that the deceased spouse's estate did not use. The unused exemption is called the Deceased Spouse Unused Exemption or 'DSUE.' The concept of passing on that exemption is called 'portability.' The whole point of this is to 'simplify' the estate tax system. 'Simplify' is in quotes since anyone who has grappled with any aspect of our tax system knows that it is rare at best that anything in the tax Code is ever simple. To understand how portability simplified the system you need to understand what happened before portability existed. Before portability if say the husband died and wanted to protect his estate tax exemption he would bequeath assets to a trust for his wife (and often for his wife and all descendants). That would use or safeguard his exemption, permit the surviving spouse to benefit (which is often the personal goal), and avoid the assets being included in the surviving spouse's estate. One problem with that was that it required hiring an attorney with the sophistication to draft a will (or revocable trust) that included this type of trust, dividing assets between spouses, then on death that trust had to be funded (a step that was often overlooked), and then the trust had to be administered and an annual income tax return for the trust filed. That was complicated, costly and a step that was often missed. So, Congress enacted portability so that could all be avoided. Yet portability, despite all the good intent, requires filing an estate tax return and involves a decision process and awareness that few lay people are aware of, and which many either don't understand or fail to appreciate the benefits of. You secure your late spouse's exemption you must make an election on a timely-filed estate tax return. That means the cost of filing an estate tax return. Further, if you do file for the DSUE the time period during which the IRS can audit (called the 'statute of limitations') remains open for the decedent spouse's estate tax return until the statute of limitations has run on your (i.e., the surviving spouse's) estate tax return. That could be a long time. Consider how complex and costly it can be to file an estate tax return the law permits your personal representative to not report the value of certain property that qualifies for the marital or charitable deduction (since those would not be subject to estate tax in any event). Also, to use this special rule the executor must exercise due diligence to estimate the fair market value of the assets included in the deceased spouse's gross estate and report the values under penalty of perjury to the IRS. In reality, many CPAs have found these rules sufficiently nettlesome, that they just try to get actual values. Also, you need values to support the basis adjustment of the deceased spouse's income tax basis on the property to the fair market value at death. Since that can have important income tax implications, and because the potential impact of different valuations on beneficiaries, many CPAs or other tax preparers (e.g., the attorney handling the estate) opt to get real numbers. So, the law was really complicated before portability. Congress tried to simplify the rules especially to help smaller estates, but created a host of new complications and traps. What's the bottom line? There is incredible uncertainty over estate taxes. For example, will the next election bring a different administration that might reduce the exemption to $1 million? Who knows. Here are a few thoughts: So, likely many more surviving spouses should file an estate tax return to secure their deceased spouse's unused exemption. Many don't simply to save money. Cost is clearly a significant consideration but it is not the only one. Why Bother Filing? A common belief that many taxpayers exhibit is 'Why file and incur the cost since the total estate is so much less than one exemption?' The answer to that question can be analyzed with a few more questions like: Mom Can Just Gift Assets to Us There is no shortage of ideas how to avoid the expense of filing an estate tax return to secure the exemption of your spouse that passed. Another one of these 'ideas' goes like this. 'Dad died. So, mom can just gift assets to us so she wont have a taxable estate.' First, read the 'what-if' questions above. These same uncertainties may apply to your family as well. It is not clear what the idea behind the surviving spouse making gifts is, but here are a few thoughts: A Better Option Have a CPA file an estate tax return for the first spouse to die. If the assets come outright to the surviving spouse he or she can gift assets into a trust that can protect the assets, protect heirs, and assure the surviving spouse access. With the potential cost of several of the uncertain future developments it just doesn't make a lot of sense to save a few bucks now for risk and problems later. You might turn out to be right and perhaps the filing could prove unnecessary. But if you are proven wrong it could be too late and dramatically more costly then the saving in professional fees.
