Virginia news

Practice

Small business employment index indicates job growth in January

Small business employment continued to show encouraging growth in January, with hours worked showing a strong increase as wages grew slightly, according to a recent survey.
A&A

Red Flags compliance: How accountants can help their clients

Accounting and other professional firms are now exempt from the Red Flags rule issued by the FTC in 2007. But all other businesses and nonprofits that extend credit or hold accounts that might be subject to identity theft were required to be in compliance as of December 31, 2010.
Practice

Small business employment index indicates 57,000 jobs created in December

Small business employment continued to show growth in December with an increase in hours worked and wages flat, according to the most recent Small Business Employment Index by Intuit Inc.
Tax

Tax Foundation releases state business tax index

South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
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.
Community News

Company announcements: Week of November 15

Following is the latest roundup of firm news for the week of November 15, 2010.
Tax

What voters said about tax hikes in November elections

As lawmakers try to solve budgetary shortfalls by raising taxes in most states, taxpayers are not pleased, and they said so earlier this month at the polls.
A&A

Virginia CPA society offers free financial literacy calendar

The Virginia Society of Certified Public Accountants’ award-winning Financial Fitness Calendar is now available for the 2011 calendar year.
Tax

Four celebrities face battles with the IRS

Even the thin, beautiful, and talented have to pay their fair share of taxes. Beverly Johnson, Janice Dickinson, Jaime Pressly, and Toni Braxton have run-ins with the IRS.
A&A

Ohio youngsters FETCH! for financial literacy

At a time when 77 percent of families in the United States are in debt, with 46.1 percent of those families holding credit card debt, the Ohio Society of CPAs is reaching out to educate youngsters about the value of a dollar.
A&A

State societies sponsor CPA Day of Service

CPA societies in Illinois and Virginia provided the impetus for firms and individuals nationwide to take part in a day of service on September 24, the CPA Day of Service. The event not only helps worthy local organizations, but also highlights the contributions made by CPAs.
Education & Careers

Colleges and universities must be ethical

The actions of colleges and universities provide examples to their students of how to act with – or without – a high level of ethical standards. From grading practices to sustainability, these institutions need to be cognizant of the message they send.
Education & Careers

Improving accounting students’ writing skills

All of us who teach or advise students know about their dislike for writing papers. These students are under the false impression that accountants do not have to write, or at least not much.
Education & Careers

Class notes: Accounting education in 2010

Accounting students and recent grads face several important issues including changes to the CPA Exam in 2011, the continuing internationalization of the accounting curriculum and practice, codification of GAAP, and the general health of the accounting profession.
A&A

Virginia CPAs offer tips on preparing financially for disaster

Peak hurricane season for Virginia and the Mid-Atlantic States has arrived. While it’s unsettling to think a natural disaster could affect you, emergencies can and do occur.
Tax

IRS can spell tax relief for disaster victims

"I'm from the government and I'm here to help you" may be regarded by some to be the most terrifying words in the English language, but not so when you are dealing with a disaster.
Tax

One IRS attacker goes to prison, others under investigation

Frustration with the Internal Revenue Service is nothing new. But in recent months, acts of violence and inappropriate treatment of agents are escalating.
Practice Development

Measuring the effectiveness of in-house training

Accounting firms that offer training programs in house for staff and management want to ensure that individuals meet continuing professional education requirements. At many firms, training programs encompass larger goals and are at the core of a firm’s culture.
A&A

Businesses await new standard for lease accounting

The Financial Accounting Standards Board and the International Accounting Standards Board are on track to publish the final version of a common standard on lease accounting during the second quarter of 2011. The standard could go into effect as early as 2013.
A&A

D.C. launches amnesty program waiving penalties, fees on back taxes

Delinquent taxpayers will get a rare opportunity to pay outstanding taxes and interest to the District of Columbia, have their penalties and fees waived, and avoid criminal prosecution. The DC Tax Amnesty program will run from August 2 through September 30, 2010.

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