New Mexico news

Tax

Many States Offer Back-to-School Sales Tax Holidays in 2013

Did you know there are seventeen states where state sales tax charges are temporarily dropped on back-to-school items, such as clothing, footwear, classroom supplies, computers, and certain other products?
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.
Tax

Is This the Year for Tax Reform?

Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
Tax

Crime Watch

Today's tax crime cases involve tax evasion, charitable organization donation kickbacks, false claims for tax refunds, bank fraud, aggravated identity theft, money laundering, and wire fraud.
Education & Careers

Five Receive CalCPA Women to Watch Awards

The CalCPA honored five CPAs with its Women to Watch Awards for 2012 during ceremonies at the "Women's Leadership Forum" at the Ritz-Carlton September 27. The awards recognize service and contributions to the CPA profession.
Tax

Tax Preparer Arraigned on 25-Count Indictment

A Texas tax preparer has been arraigned for preparing and presenting false federal income tax returns on twenty-five separate occasions between 2008 and 2011.
Practice

Job Outlook for Bachelor's Degree Students Looks Bleak

A weak labor market has left half of college students (age twenty-five or younger) who graduated with a bachelor's degree either jobless or "underemployed" ? a troubling statistic.
Tax

IRS Seeks Volunteers for Taxpayer Advocacy Panel

The IRS is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues, and makes recommendations for improving IRS service.
A&A

Credit Rating Should Be Improved, Not Discarded

Regulatory downgrading of the role of credit raters is misguided. Development of ethical and professional standards would make information needed by investors more useful and reliable. The culpability of credit rating agencies in contributing to the financial crisis has been debated, but without conclusive agreement.
Practice

CPAs Give Business Advice to Veterans through Partnership with SCORE

CPAs now have an opportunity to volunteer and provide up to five hours of free financial advice to veterans about how to start or grow their business. The program was launched through the AICPA's participation the Veteran Fast Launch Initiative sponsored by the Service Corps of Retired Executives (SCORE).
AccountingWEB Life

The Accountant Is In

Sometimes when I pass a small local business, I'll see a sign on the door that reads something like, "Gone for Lunch, Be Back at 1" or "On Vacation, Will Return Monday." It must be nice to dictate your own schedule and not be tied to your office working around the clock.
Election 2012

Tax talk leads off GOP debate in Florida

The latest Republican debate in Orlando kicked off with a clear focus on taxes and their effect on small businesses and overall economic growth.
A&A

The 2011 Women to Watch awards – recognizing outstanding women in the accounting profession

Outstanding women – those who have made significant contributions to the accounting profession and to the development of women – receive recognition through the Women to Watch program.
Community News

Company announcements: Week of August 8, 2011

Following is the latest roundup of accounting community news for the week of August 8, 2011.
Tax

Revisiting the rules for business deductions

Despite John’s being employed full-time in a large corporation, he spent considerably more time at his freelancing activity this past year. The activity involves touring on his bicycle, writing articles, and taking pictures about his tours, the local attractions, and the people he met along the way. He sold these articles to various publishers and increased his income significantly in 2010 over 2009. At first only a few publishers of bicycling magazines were interested, but soon word spread and travel magazine publishers liked his “on-the-road” perspective of local attractions and the people he encountered.
A&A

Carbon accounting is hot new growth area for accountants

An overwhelming majority of Fortune 500 companies now voluntarily measure, manage, and publicly disclose their carbon emissions. This provides an exciting opportunity for accountants to provide an important service in the growing area of carbon accounting.
A&A

CPA travels Route 66 to promote fuel that benefits Mother Nature

Not only did compressed natural gas benefit the business of a CPA's friend and client, it was the genesis of a record-breaking trip along Route 66 to promote alternative fuel and energy independence. AccountingWEB's Jason Bramwell reports.
Tax

Celebrity stew: Stars up to their necks in IRS trouble

Rounding out 2010's cavalcade of celebrities mired in tax issues are actor Val Kilmer, songwriter Lamont Dozier, rapper Trick Daddy, and all-around weirdo Grace Jones.

R.I.P Craig Watjen, long-time Microsoft assistant treasurer, 'Ancient Mariner'

We learned this week of the death of Craig Watjen, the 74-year-old former Microsoft assistant treasurer who joined the company soon after it moved its operations from New Mexico to Redmond, WA, in the 1970s.
Tax

Revenue worries don't stop states from offering tax holidays

Taxpayers in 16 states will get sales tax breaks on the purchase of various school-related purchases during certain dates in July and August.

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