Michigan news

A&A

Bramwell’s Lunch Beat: AgFeed Was Living High Off the Hog

Here are “Bramwell’s Lunch Beat” menu items for March 12.
Practice

Bramwell’s Lunch Beat: What’s With All of the Mergers in Cincinnati Lately?

Here are “Bramwell’s Lunch Beat” menu items for January 15.
Education & Careers

Plan for How You Will Involve Mom and Dad

For the last few years, in many of my presentations to the CPA profession, I have been warning firm leaders that they need to be prepared for involving the parents of new college graduates as they participate in the college recruiting adventure.
Tax

Bramwell's Lunch Beat: Transparency Vital for IRS Chief

Here are "Bramwell's Lunch Beat" menu items for December 20.
Tax

Seizing Private Assets to Enhance Fed Budgets?

Some are wondering if federal agencies are seizing private assets on flimsy evidence to beef up their budgets. In 1985, about $27 million assets were seized. That's no small amount, but leap forward to 2012, when the amount skyrocketed to $4 billion.
Tax

Baucus Proposes Series of Sweeping Tax Reforms

Max Baucus released a series of comprehensive tax reform proposals over a three-day span. Specifically, the three drafts cover a restructuring of the international tax system, tax administration and fraud prevention techniques, and cost recovery deductions.
Tax

US Tax Court Cancels Trial Sessions Due to Shutdown

Due to the federal government shutdown that began last Tuesday, the US Tax Court in Washington, DC, canceled trial sessions scheduled to begin on October 7 and 8 in several cities throughout the country.
A&A

AICPA Opposes Proposed Limitation on Use of Cash Method of Accounting

On August 15, the AICPA expressed its opposition to a proposed limitation on the use of the cash method of accounting for non-natural taxpayers, personal service corporations, and farmers that is contained in House Ways and Means Committee Chairman Dave Camp's small business tax reform discussion draft.
Tax

Crime Watch: August 14, 2013

Mark Goldberg, a Bronx-based tax preparer, pled guilty to charges related to his participation in a scheme to file fraudulent tax returns on behalf of numerous clients, falsely claiming more than $7 million in bogus deductions, including school tuition credits and expenses.
Tax

Death Tax Grasps for More of William Davidson's Wealth

Anyone wealthy enough to own a major sports franchise is probably steeped deep in serious estate planning. William Davidson was no exception. In 2008, the year before he died, his net worth was $5.5 billion.
Tax

Crime Watch: July 18, 2013

A Texas man, who was arrested in an airport while attempting to flee the country, was indicted in the Central District of California in a multimillion-dollar identity theft and tax refund fraud scheme. If convicted, he faces a statutory maximum sentence of at least seventy-five years in federal prison.
Tax

Crime Watch: June 13, 2013

Melvin Mooring, a Gainesville, Virginia, accountant, was sentenced to six years in federal prison for stealing $3.3 million from the company where he served as the chief financial officer. He had pleaded guilty to wire fraud and tax evasion charges in March.
Practice

2013 Best Public Accounting Firms for Women Announced

The 2013 Accounting MOVE Project list of Best Public Accounting Firms for Women is drawn from the thirty-seven firms that participated in the project. Firms were ranked on the range, depth, and success of programs and workplace culture proven to remove barriers to women's success.
Education & Careers

Ryan Gosling Look-Alike Accountant Causes a Stir in Detroit

On June 4, scores of people in downtown Detroit posed for photographs with a man wearing a hooded sweatshirt, jeans, and sunglasses who they thought was Academy Award-nominated actor Ryan Gosling.
Tax

Crime Watch: May 22, 2013

Michael Parker of Baltimore, Maryland, who was the COO of TransCapital Corporation, a tax-advantaged investments company based in Virginia, was sentenced May 20 to fifty-four months in prison in KPMG tax shelter case.
Tax

Internet Sales Tax Clears Senate Hurdle

New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
Practice

Mix of Old and New Comprise 2014 Vault Accounting 50

Vault.com released its 2014 Vault Accounting 50, a ranking of the fifty best accounting firms in the nation to work for. The survey asked more than 7,900 accountants to assess their peer accounting firms on a scale of one to ten based on prestige and quality of life factors.
Tax

Crime Watch: March 15, 2013

A federal court has permanently barred Crystal Ireland of Detroit, who does business as Master Mind Preparation, from preparing federal tax returns that claim the earned income tax credit. According to the complaint, Ireland fabricated businesses and reported fake business income on her customers' tax returns in order to claim the maximum credit for them.
Tax

Crime Watch: March 4, 2013

Appearing before US District Judge Margaret M. Morrow, a Los Angeles woman was sentenced February 25 to three years in prison for her role in a scheme whereby she used the identities of others to defraud the federal bankruptcy and tax systems.
Tax

Hollywood Hands Michigan an Empty Bag

A few years ago, with giant auto manufacturing plants sitting empty and the economy dragging, Michigan threw open its doors, literally inviting Hollywood to come in and produce films economically. The bait was federal film credits, which movie producers covet.

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