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.
April 17, 2014Amazon.com to collect Florida sales tax starting May 1
- TALLAHASSEE — Internet giant Amazon.com will start to collect sales taxes on purchases made by Floridians starting May 1. Amazon's entry into the state's brick-and-mortar retail landscape could mean about $80 million a year in sales taxes,...
April 15, 2014Scholarship 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...
April 15, 2014AICPA.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...
April 14, 2014If 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...
April 09, 2014Defining 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...
April 09, 2014State 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
April 06, 201425th 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.
April 03, 2014Beyond 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...
March 24, 2014These 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...
March 20, 2014Largest-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...
March 11, 2014Prepare 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...
March 03, 2014Make 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...
February 10, 2014A 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...
February 09, 2014Identity 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.
February 08, 2014More 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...
February 04, 2014Tell 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...
January 27, 2014Answers 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...
January 24, 2014What'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...
January 22, 2014Florida 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...
January 08, 2013IRS 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...
January 03, 2013Obama 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
Obama, who returned to his family vacation in Hawaii after Tuesday's House vote, signed the...
January 02, 2013American 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...
January 02, 2013Why 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 .
January 01, 2013IRS 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...
January 01, 2013Congress Passes Fiscal Cliff Act
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
December 21, 2012Speaker 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.
December 20, 2012Tax 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,
Anyone who prepares or...
December 12, 2012Net 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...
December 07, 2012IRS 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...
December 06, 2012Fiscal 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...
December 06, 2012Obamacare 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...
December 01, 2012A Quest For Relevance
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...
November 28, 2012How 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...
November 21, 2012Public 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...
June 29, 2012Supreme 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...