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In this area you will find an archive of the most recent top stories featured on the home page of the FICPA Web site that we felt were informative enough to store for your future reference.

 

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Scholarship Application Deadline Approaching
The Florida Department of Business and Professional Regulation (DBPR), Division of Certified Public Accounting, encourages minority accounting students throughout Florida to apply for this year’s Clay Ford scholarship. The scholarship is...
AICPA.org, CGMA.org Not Affected by Heartbleed Bug
Numerous media outlets recently have reported on the Heartbleed bug , which is a vulnerability that allows access to otherwise encrypted data, including passwords. AICPA.org and CGMA.org were not affected. Also, the IRS has said it has not been...
If You're Not Ready For Tax Day, It's OK
Here's something you probably shouldn't ask a certified public accountant as the deadline to file taxes nears: How's it going? "Do you really want to ask that?" said Tom Kasica, a Melbourne CPA, who had very little time to speak Monday as...
Defining Your Business - Part 1
In an earlier article I had a limited discussion about the choice of entity when starting a new business. In two separate articles, I am going to give you an overview of the items to consider when deciding on a form of entity for the new...
State Licensing Agency Encourages Accounting Students To Apply For Scholarship
The Florida Department of Business and Professional Regulation’s (DBPR) Division of Certified Public Accounting is encouraging minority accounting students across the state to apply for this year’s Clay Ford scholarship. The...
25th Annual FICPA 5K, 10K And Kinds Run
The 25th annual FICPA 5K, 10K & Kids Run at City Hall and through Coconut Grove has become a great experience for families and co-workers to get together for fun and exercise while contributing to a very worthwhile scholarship fund.
Beyond Taxes
Choosing the right strategic partners can make a significant and long-lasting impact on the growth and success of any business. Getting the right advice and assistance with the myriad challenges of doing business is essential, so whether you own...
These Often-overlooked Tax Deductions And Credits Could Save You Money
Since your goal is to only pay the Internal Revenue Service what you owe and not a penny more, we recommend that you take advantage of every deduction and tax credit available to you. Here is a list of 10 commonly overlooked tax deductions...
Largest-ever U.S. Tax-fraud Phone Scam Targets Thousands: IRS Watchdog
Thousands of Americans nationwide have been targeted since August by a phone scam in which fraudsters claim to be from the U.S. Internal Revenue Service and demand money for unpaid taxes, said the IRS' watchdog on Thursday. The Treasury...
Prepare Now to Meet the Corporate Filing Deadline
With the corporate filing deadline approaching, are you prepared? If you own or manage a corporation this time of the year, your focus has likely been on taxes over the last few months – estimated taxes, payroll taxes, and now the...
Make Sure That CPA Is Licensed
The Florida Department of Business and Professional Regulation is warning Floridians of the danger of hiring unlicensed certified public accountants to assist in personal and business financial needs. In Florida, CPAs are required to have a...
A Firm's Strategy for Offering the FRF for SMEs Framework to Clients
The firm I work for, RubinBrown, prides itself on supporting small business. Our three offices are in America’s heartland – St. Louis, Kansas City and Denver. As an accountant, auditor and adviser for Main Street, private company...
Identity Thieves On The Prowl During Tax Season
It's the time of the year during which millions of Americans sharpen their pencils, dig out their calculators and rifle their files for W-2 forms, bank statements and receipts.
More Federal Privileges to Extend to Same-Sex Couples
The federal government will soon treat married same-sex couples the same as heterosexual couples when they file for bankruptcy, testify in court or visit family in prison. Attorney General Eric H. Holder Jr. was preparing to issue policies aimed...
Tell Mel: The IRS' Problem Is Yours, Too
The IRS is expanding a program that will make it tougher for crooks to get away with stolen identity refund fraud, a crime that has become so common it now has its own acronym: SIRF. If you haven’t been a victim, you’re lucky. But...
Answers To Most Frequently Asked Tax Questions
After more than 16 years in the profession, I marvel over the various tax questions that I continually answer over and over again. If only I had a dollar for each time I answered them! So as my New Year’s gift to you, I present answers to...
What's Happening With Health Care Reform?
Now that Jan. 1 has come and gone, what should individuals and employer groups know about the new health care reform law? First, for individuals, is the mandate or shared-responsibility requirement that almost all U.S. citizens are to be covered...
Florida Southern To Offer Master Of Accountancy Degree
The Barney Barnett School of Business and Free Enterprise at Florida Southern College announced today that it will offer a new graduate degree next year specializing in accounting. The master of accountancy (MAcc) is an innovative 16-month degree...
IRS Plans Jan. 30 Tax Season Opening For 1040 Filers
Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on...
Obama Signs Bill Warding Off Fiscal Cliff
President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation. Obama, who returned to his family vacation in Hawaii after Tuesday's House vote, signed the...
American Taxpayer Relief Act of 2012
In the Senate of the United States, January 1 (legislative day, December 30, 2012), 2013. Resolved, That the bill from the House of Representatives (H.R. 8) entitled ‘‘An Act to extend certain tax relief provisions enacted in 2001 and...
Why Your Paycheck Is Getting Smaller, No Matter What
Congress was able to pass legislation to keep broader middle class income taxes from rising. But workers will still have to pay at least 2% more in payroll taxes .
IRS Changes Income Tax Withholding Tables For 2013 To Reflect Expired Tax Cuts
The Internal Revenue Service released new income tax withholding tables for 2013 late Monday to reflect the expiration of the 2001 and 2003 Bush tax cuts and the more recent payroll tax cuts of 2011 and 2012, but noted that the guidance would...
Congress Passes Fiscal Cliff Act
Pulling back from the “fiscal cliff” at the 13th hour, Congress on Tuesday preserved most of the George W. Bush-era tax cuts and extended many other lapsed tax provisions. Shortly before 2 a.m. Tuesday, the Senate passed a bill...
Speaker Boehner Plan To Avert 'Fiscal Cliff' Fail
House Speaker John Boehner was handed a stunning defeat late Thursday by members of his own party who refused to support his "Plan B" to avoid the year-end "fiscal cliff" that threatens to send the economy in to a recession. GOP leaders...
Tax Preparers Must Renew Their PTINs And Those Required To Take The RTRP Test Should Schedule It As Soon As Possible
The Internal Revenue Service today reminded professional tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) if they plan to prepare returns in 2013. Current PTINs expire Dec. 31, 2012. Anyone who prepares or...
Net Investment Income Tax FAQs
1. What is the Net Investment Income Tax (NIIT)? The Net Investment Income Tax is imposed by section 1411 of the Internal Revenue Code (IRC). The NIIT applies at a rate of 3.8 percent to certain net investment income of individuals, estates and...
IRS Proposes Regulations On Net Investment Income Tax
The Internal Revenue Service and the Treasury Department have issued a set of proposed regulations on the 3.8 percent Net Investment Income Tax that takes effect next year as a result of the health care reform law, along with a FAQ page with...
Fiscal Talks Spur Charitable Giving
Tax uncertainty in Washington is setting off a mad scramble among wealthy taxpayers and charities to maximize donations before the end of the year. Their worry: The tax deduction for charitable giving, a fixture of the tax code for nearly a...
Obamacare Investment Income: A Downloadable Cheat Sheet
Judging by the reaction on the ol’ internet machine, the new regulations governing the Obamacare investment income tax have caused quite a bit of consternation within the tax community. Part of the problem is the length: when you include...
A Quest For Relevance
The recent efforts by the accounting profession to improve private company financial reporting revealed a clear and strong demand by small and medium-size entities, the CPAs who serve them, and those who use their financial statements for a...
How Much Tax Would You Owe On A $550 Million Powerball Jackpot?
With talk of the fiscal cliff and tax hikes for the rich dominating the news, you might be worrying about how much you’ll really get to keep after you win tonight’s record-setting Powerball jackpot. (Update: With frenzied ticket...
Public Encouraged To Vote On Student CPA Videos
TALLAHASSEE, Fla. – The Department of Business and Professional Regulation (DBPR) and the Florida Institute of Certified Public Accountants (FICPA) today encouraged the public to vote for their favorite video in a public service contest...
Supreme Court Upholds Health Care Law
The U.S. Supreme Court on Thursday declared the mandate in Sec. 5000A, requiring U.S. citizens and legal residents to maintain minimum essential health coverage, to be a permissible exercise of Congress's taxing powers under the Constitution...