Maine news

A&A

Latest CPA Outlook Index provides grim view of the economy

The outlook for the U.S. economy turned negative in the third quarter for the first time since 2009 as prospects for recovery waned and concerns about a second recession rose.
Practice Management

Measuring trust in business

Trust is a vital element of business, yet it's difficult to measure and often gets overlooked. Two research groups have devised their own rating systems to determine which companies are most trustworthy.
A&A

CPAs, CFOs pessimistic about economy

According to the latest AICPA Economic Outlook Survey, chief financial officers, controllers, and CPAs in executive and senior management accounting roles are far less optimistic now about the direction of the U.S. economy than they were in the first quarter of 2011.
A&A

Slippage in IFRS adoption timeline and hints of change add to uncertainty for U.S. companies

The FASB and the IASB late last month announced a delay for completion of the remaining priority convergence projects from June 2011 until late 2011.
Education & Careers

More bad news for job searchers

Chief financial officers are markedly shifting their focus from cost cutting to revenue growth, but they remain wary of increased hiring at home, according to the results of the Deloitte CFO Signals quarterly survey for the first quarter of 2011.
A&A

Jaw-dropping budgeting errors make headlines in Maine and Ohio

Some recent budgeting mistakes have plenty of taxpayers scratching their heads as the issue shines a spotlight on the need for efficient accounting systems.
AccountingWEB Life

Taxpayer Advocate report focuses on tax reform, collection issues, health care reform

This year's report identifies 21 problems, provides updates on four previously identified issues, makes recommendations for administrative and legislative change, and analyzes the 10 tax issues most frequently litigated in the federal courts.
A&A

Business traveler's guide to making the best of bad weather

It's December, and, in many parts of the country, this means that weather is a factor in commuting as well as in business travel. Weather-induced chaos presents an ideal opportunity for technologists to remind businesses that we now have the means to lessen the impact of bad weather.
Education & Careers

Small business employment index indicates 49,000 new jobs; wages down slightly

Small business employment continued to show growth in November, although wages were down and hours worked remained flat, according to this month's Small Business Employment Index by Intuit Inc.
Tax

Actor Wesley Snipes taken into custody for tax evasion

Actor Wesley Snipes, known for his roles in White Men Can't Jump and Blade, has been taken into custody by federal authorities to begin serving three years in prison for failing to file income tax returns.
Technology

IT employment posts strong gains in October

October saw continued growth in IT employment adding more than 10,000 jobs. Additionally, the U.S. Bureau of Labor Statistics' upward revision to September's employment data now reflects growth of 3,600 IT jobs, up from a previously reported incremental loss of 200 jobs.
Tax

Top personal income tax rates are rising worldwide

The worldwide decline in top personal income tax rates over the past seven years generally appears to have come to an end, as this year’s average rate increased 0.3 percent globally, according to KPMG International’s 2010 Individual Income Tax and Social Security Rate Report.
Practice

In twilight of their careers, unemployed workers face tough new realities

More mature workers who have lost their jobs have a lot on their minds - how to prepare for retirement, how to pay for health care coverage, and not only how they will get that next job, but if they will ever get that next job.
Tax

Three famous tax cheaters take issue with the authorities

AccountingWEB appears to be developing a rogues gallery of taxation ne'er-do-wells as the same celebrities continue to make headlines. Wesley Snipes, Conrad Black, Lil Wayne, and Suge Knight are, once again, in the news.
Practice Management

Managing medical marijuana use in the workplace

For employers with operations in the 14 states that have legalized marijuana for medical purposes, it is a difficult task to juggle the need for a drug-free workplace environment and the rights of employees who have prescriptions to legally use marijuana.
Tax

After the convictions: Wesley Snipes, Richard Hatch, Method Man

In 2009, rapper Method Man, whose real name is Clifford Smith, was arrested on felony tax evasion charges, accused of not filing tax returns for 2004 through 2007. His defense was pretty self-incriminating.
A&A

CPE mid-year 2010 update: Rules, regulations, trends

Mid-year 2010 has arrived and accountants in approximately half the jurisdictions in the United States are facing compliance deadlines. Tax time is well behind us and crunch time for compliance is here.
Practice

Pay freeze continues for majority of finance execs

Reflective of the past year’s economic woes, a majority of financial professionals still are not receiving salary increases, according to a recent survey conducted by Financial Executives Research Foundation.
Practice

Most executives remain confident about business growth

Six percent of chief financial officers said they plan to hire full-time accounting and finance employees during the third quarter of 2010, while 9 percent anticipate staff reductions. Despite those numbers, CFOs remain optimistic about the outlook for their businesses.
A&A

Survey: CPA execs’ outlook optimistic for first time in two years

CPA executives in business, industry, and government are optimistic for the first time in two years as business leaders gain confidence that improvements in the U.S. economy will translate to better results for their organizations.

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