Community News news February 2007

A&A

Liquidation Sales Ruled Non-Business Income in Illinois, Missouri, Utah

Recent court decisions in Illinois, Missouri, and Utah have ruled that gains from a liquidation sale of a business do not constitute taxable business income.In each case, the respective state revenue department disagreed with the companies' classification of the gains and issued the companies notices of deficiency.
Community News

Vrakas/Blum Named Top Solution Firm

Vrakas/Blum Computer Consulting, Inc. has recently been named the No. 1 JOB•OPS™ solution provider in the United States for having the highest JOB•OPS™ sales in 2006. The group is a subsidiary of Vrakas/Blum S.C., a Brookfield-based CPA and business advisory firm.The company, which specializes in providing analysis, selection, implementation and maintenance of software solutions for manufacturing and distribution companies, has completed implementations in 11 states across the U.S.
Tax

Tax-Free Space Trip Cleared for Launch

When the prospect of a big tax bill ruined a man’s chance for a ride into space, a space tourism startup put his dream back on track.Brian Emmett has signed on to become a tax-free “test passenger” for Benson Space Co., which plans its first flight for the end of next year. Emmett will serve as a consultant, offering feedback during the testing phase of the project, according to the Associated Press.Emmett recently turned down his original chance at weightlessness after winning a spaceflight from the Oracle Corp. as part of a 2005 sweepstakes.
Education & Careers

Most Workers Unhappy In Jobs

More than four out of five U.S.
Community News

Missouri Merger Moves

Accounting firm Whitlock, Selim & Keehn LLP is fresh off its first merger in its 22-year history.The firm Patricia S. Stoner CPA PC merged with WSK in January, as owner Patti Stoner became WSK’s sixth partner.Stoner, a certified public accountant, had owned a practice in Springfield since 1986. Her staff accountant, Judy Gann, also joined WSK in the merger, which adds 432 clients to WSK’s roster of 1,700 clients.“I wanted to focus on the client work, and I found that an awful lot of my time was spent on the administrative hassles,” Stoner said.

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