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IRS to ID Theft Victims: Pay Now While We Pay Later
The IRS is more than willing to make taxpayers wait for refunds — sometimes as long as 18 months — when identity thieves file fake tax returns in victims' names.
From CGMA Magazine: Executives Turn Data Into Internal Insight
Prolonged economic sluggishness—which has limited organic growth and stymied mergers and acquisitions the world over—has given many companies something they didn’t have when things were busier: time, and reason, to think...
Gaining (from) Your Clients' Trust
For decades, CPAs in public practice have laid a foundation of trust with clients by competently handling confidential financial data and performing core services such as tax preparation. Today, forward-thinking CPAs are building on that...
Are Your Employees Committing Fraud?
Internal fraud is a huge risk to companies. Experts estimate that on average it costs companies 3% to 5% of revenue each year. Especially when profit margins are thin, internal fraud can literally put some companies out of business.
Lawmakers Consider Changing Tax Breaks On Retirement Savings
The painful trade-offs of tax reform came into sharper focus Tuesday as lawmakers for the first time began considering specific tax breaks to reduce or otherwise change, starting with laws that allow millions of Americans to avoid taxes while...
Family Business Sales Can be Emotional
Between 80 and 90 percent of all U.S. companies are family businesses, according to the Family Business Review. Over the course of the next decade, more than 40 percent of those companies’ top executives will retire, making family business...
Side Effects Of Cost Segregation
Increased current cash flows and net-present-value savings from accelerated tax depreciation resulting from cost-segregation studies have been discussed in the JofA and other professional literature. But the initial cost-segregation decision can...
Guidance Issued On Tax Treatment Of Business Cell Phones
The IRS issued a notice on Wednesday providing guidance on the tax treatment of employer-provided cell phones now that they have been removed from the definition of listed property ( Notice 2011-72 ). The notice discusses the treatment of...
McGladrey & Pullen, LLP Signs Letter Of Intent to Acquire RSM McGladrey, Inc.
McGladrey & Pullen, LLP Signs Letter Of Intent to Acquire RSM McGladrey, Inc.
Don't Hire a Telemarketer When You Need a Sales Professional
How many of your clients hire controllers when they really need a CFO? While it may be less expensive, the pitfalls are plentiful: increased risk, inadequate financial reporting, and most likely, greater burden on your staff. It’s no...