Tax news

A&A

Bramwell’s Lunch Beat: BofA Smacked with $7.65M SEC Fine Over Accounting Flub

The menu for Sept. 30 features specials on BKD LLP and Wolf & Co. merge, EU reveals details of Ireland/Apple tax probe, Indian citizens can now take the CPA Exam in the Middle East, and more.
Tax

TIGTA Finds Flaw in IRS Collection Efforts for Unpaid Taxes

In a report released on Monday, the IRS watchdog found that the tax agency may not be completing the required research steps in collecting delinquent taxes before considering the cases “not collectible.”
Tax

How to Handle Start-Up Costs

The school year is off and running—have your start-up clients launched as well? It may make a big difference in tax status. Know the rules, phase-outs, and timing—and the limits for 2014.
A&A

Bramwell’s Lunch Beat: GOP Mum on Tax Cuts This Election Season

The menu for Sept. 29 features specials on EY’s fiscal-year revenue up 6 percent, EU criticizes Apple’s tax deals in Ireland, banks cash in on tax trade, Boehner says tax reform “doable” in next two years, and more.
Practice

Time to Think About College Funding

Now is the time for accountants to think about 529 plans. The start of the school year means education is on the minds of all clients with children, and tax prep season is around the corner. There are financial implications you may not be aware of.
A&A

Bramwell’s Lunch Beat: Kansas Is Recouping Lost Taxes Through Sex Toy Auction

The menu for Sept. 26 features specials on IRS needs to better handle complaints against tax preparers, P&G and Hasbro targets of Mexico tax probe, Brady to challenge Ryan for Ways and Means gavel, and more.
A&A

Bramwell’s Lunch Beat: Deloitte Made A lot of Money in FY 2014

The menu for Sept. 25 features specials on the AICPA has concerns with IRS e-signature standards, AbbVie-Shire inversion deal still seems likely, “The Situation” indicted on tax fraud charges, and more.
Tax

IRS Alerts Foreign Banks about a New FATCA-Related Scam

The tax agency on Wednesday warned foreign financial institutions of a "phishing" scam in which fraudsters posing as the IRS are trying to solicit account-holder identity and financial account information under the new US law.
Tax

NJ Senator Aims to Tackle Football Tax Break

Sen. Booker would remove the NFL's tax-exempt status, but it may not be a touchdown. Still, it's kicked off numerous discussions and press coverage—just in time for football season, too.
A&A

Bramwell’s Lunch Beat: GOP Miffed Over Lois Lerner Interview

The menu for Sept. 24 features specials on SASB issues new standards for transportation sector, Bill Clinton won’t call inversions “unpatriotic,” Tesco fast-tracks new CFO, CohnReznick and Watkins Meegan to combine, and more.
Tax

How to Time Itemized Deductions

Savvy tax planning is about more than knowing what to write off. Just as essential is knowing when. Choosing one tax year as opposed to another bears directly on how much winds up with the IRS.
A&A

Bramwell’s Lunch Beat: Treasury Reveals Plan to Curb Inversions

The menu for Sept. 23 features specials on Tesco’s accounting woes, IRS doled out more than $5 billion in tax refunds to fraudsters in 2013, SEC announces largest-ever whistleblower award, and more.
Tax

2014-15 Per Diem Rates for Travel Expenses Set by IRS

The IRS has announced the special per diem rates for substantiating certain business expenses taxpayers incur when traveling away from home in 2014 and 2015. The new per diem rates go into effect Oct. 1.
Practice

Key Tax Considerations of Sending Employees Overseas

Because of global expansion, the challenges of sending employees abroad are now worthy of executive-level attention. International assignments come with a host of business implications, and tax is a top consideration.
A&A

Bramwell’s Lunch Beat: Auditor Naming Plan Sparks Debate

The menu for Sept. 22 features specials on Lois Lerner breaks her silence, a roundup of last week’s IRS technical guidance, two Senate Democrats propose exit tax for inverting companies, and more.
A&A

Bramwell’s Lunch Beat: Here’s Some 2015 Tax Year Projections

The menu for Sept. 19 features specials on John Boehner says fixing “the whole tax code” is a top GOP priority, Senate passes short-term extension of Internet Tax Freedom Act, the 20 most overrated things in accounting, and more.
Practice Development

Accountants Use Their Skills in Divorce Arena

The fallout from divorce can wreak financial havoc long after the dust in the courtroom has settled. Accountants can help both parties move forward, thanks to their unique knowledge and skills.
A&A

Bramwell’s Lunch Beat: Supersized IRAs Under Scrutiny

The menu for Sept. 18 features specials on ex-DOJ tax head Kathryn Keneally has a new gig, Treasury Secretary Jack Lew says action on inversions coming “very, very soon,” dissecting the OECD’s recommendations, and more.
A&A

Bramwell’s Lunch Beat: Kenny G Is a Habitual Stockpicker

The menu for Sept. 17 features specials on OECD unveils recommendations to curb corporate tax avoidance, McGladrey to acquire Battelle Rippe Kingston, AICPA presses Congress for action on tax extenders, and more.
Wealth management

How to Steer Clear of the Mutual Fund Tax Trap

Accountants are not wealth managers, but wealth management decisions have important tax consequences. It's good business to help clients avoid unnecessary investment-oriented tax bills.

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