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A&A

Bramwell’s Lunch Beat: Quite the Guarantee Offered to Davenport University Accounting Students

The menu for August 21 features specials on ALS Ice Bucket Challenge charitable donations, Bank of America settles, Rep. Paul Ryan backs cut to mortgage tax break, and more.
Tax

A Fair Tax Shake on Quid Pro Quo Contributions

A taxpayer can deduct contributions made to a qualified charity. These donations are typically made "with no strings attached." But what happens when you receive something of value in return?
A&A

Bramwell’s Lunch Beat: Medical Device Tax Revenue Falls Short

The menu for August 20 features specials on Hertz withdraws full-year forecast due to accounting errors and operational challenges, botched forecast cost Walgreen CFO his job, Alaska oil tax repeal ballot measure losing, and more.
A&A

Bramwell’s Lunch Beat: PCAOB Rule on ID’ing Lead Audit Partner Coming Soon

The menu for August 19 features specials on Treasury prepares inversion options, H&R Block launches small business accounting services, AICPA membership eclipses 400,000 mark, 2014 AICPA Accounting Competition begins, and more.
A&A

Bramwell’s Lunch Beat: New York Levies Penalties Against PwC

The menu for August 18 features specials on Joe Echevarria is stepping down as Deloitte CEO, state tax revenues declined in Q1 for the first time in four years, holding auditors blameless, and more.
Tax

New Bill May Change the Sales Tax System

If your clients include retailers, pending federal legislation allowing states to tax Internet sales could mean big changes in the way they process and account for their sales and use taxes.
Tax

Lawmaker Lashes Out at IRS Over Latest TIGTA Findings

Representative Diane Black (R-TN) blasted the IRS on Thursday after a new watchdog report found that the agency had not conducted background checks on some contractors who had access to sensitive taxpayer data.
A&A

Bramwell’s Lunch Beat: Mmmm, Craft Beer. Mmmm, Tax Breaks.

The menu for August 15 features specials on Alibaba Pictures delays results on possible accounting errors, Wyden hopes for September bipartisan anti-inversion legislation, Atlanta accountant charged by SEC with insider trading, and more.
Tax

Telephone Tax Scam Continues to Rear Its Ugly Head

US tax authorities have determined that 1,100 victims have lost an estimated $5 million due to a sophisticated nationwide phone scam, in which the fraudsters claim to be from the IRS and demand money.
Wealth management

Last Chance For Multiple IRA Rollovers

A surprising Tax Court case has shut down a tax planning technique that savvy retirement-savers have been using for years. But there's still a small window of opportunity if you need it, until the new year, to give investors time to adjust.
A&A

Bramwell’s Lunch Beat: IASB’s Mackintosh Thinks Adopting IFRS is the Only Way to Go

The menu for August 14 features specials on FTC to refund customers of American Tax Relief, Senate Dems push plan to curb inversions, Obama will keep cash from donors who profited from overseas tax deals, and more.
Tax

IRS Taxpayer Bill of Rights Now Available in Six Languages

Newly revised versions of Publication 1, "Your Rights as a Taxpayer," are available on the IRS website in English, Spanish, Chinese, Korean, Russian, and Vietnamese, the nation's tax agency said on Tuesday.
Tax

Tax-Exempt Groups Owe Millions in Tax Debt: Report

More than 64,200 tax-exempt organizations owed nearly $875 million in back taxes to the federal government, 69 percent of which were payroll taxes and related penalties and interest, as of June 16, 2012, according to a TIGTA report released on Wednesday.
A&A

Bramwell’s Lunch Beat: Canadian Government Sued Over FATCA Deal with US

The menu for August 13 features specials on EY seeks affirmation on Lehman accounting decision, some of Obama’s biggest donors are also behind inversion deals, top issues facing young CPAs, IMA has had a stellar FY 2014, and more.
Wealth management

Getting 'Down and Dirty' With a PIG

Clients may want to invest in a Passive Income Generator to absorb some of their suspended losses from other passive activities. This strategy is a twist on the classic tax shelter
A&A

Bramwell’s Lunch Beat: Obamacare Tax Forms Look ‘Very Daunting’ for Taxpayers

The menu for August 12 features specials on MF Global doesn’t want its lawsuit against PwC thrown out, Kinder Morgan deal could mean big tax bill for investors, Hertz delays quarterly earnings on accounting review, and more.
A&A

CPA Groups Ask for Clarification on Net Investment Income Tax Rules

In an August 7 letter sent to Congress, the AICPA and CPA societies from the US Virgin Islands and Guam sought clarification on the applicability of the net investment income tax to bona fide residents of the US territories.
A&A

NYSSCPA Calls Out Obama for Calling Out Accountants

NYSSCPA President Scott Adair responded on Friday to comments made by President Obama, who in a press conference last week seemed to blame accountants for the flood of US companies using inversions.
A&A

Bramwell’s Lunch Beat: IRS Eases Rules for Renewable Energy Tax Credits

The menu for August 11 features specials on a report claims SEC failed to guard sensitive info, Delphi vows to fight IRS to protect UK-based tax status, ex-senators hired to lobby against inversion legislation, and more.
Practice

Financial Tips for Seniors

Accountants are trusted advisors—especially for their senior citizen clients. These people may have been with you for many years, and now, in their retirement, they need you more than ever.

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