News

Tax

Jackpot! Ten Pieces of Financial Advice for New Powerball Winner

There's one person – or maybe a group of people – who has yet to claim the largest Powerball jackpot in history: an estimated $590.5 million. The ticket was purchased on May 18 from a Publix supermarket in Zephyrhills, Florida.
287
Tax

IRS Extends Tax Deadlines for Oklahoma Tornado Victims

Following Monday's disaster declaration for individual assistance issued by FEMA, the IRS announced May 21, 2013, that affected taxpayers in Cleveland, Lincoln, McClain, Oklahoma, and Pottawatomie counties will receive special tax relief.
208
A&A

US GAAP Financial Reporting Taxonomy Green-Lighted by SEC

The US Securities and Exchange Commission (SEC) has adopted the 2013 US GAAP Financial Reporting Taxonomy, which allows companies to use eXtensible Business Reporting Language (XBRL) in reporting financial statements.
389
Education & Careers

New York Accounting Foundation Awards $183,750 in Scholarships

The New York State Society of Certified Public Accountants' Foundation for Accounting Education has announced the sixty-seven New York State students who will receive Excellence in Accounting Scholarships for the 2013-2014 school year.
424
Tax

Beyoncé's Father and Former Manager under Heavy Tax Debt

Matthew Knowles, music executive, television producer, father, and former manager of Beyoncé Knowles, is into the IRS for more than $1.2 million. The tax debt relates to income earned in 2010 and 2011, the same years he managed his daughter's career.
442
Tax

Rapper Ja Rule's Tax Evasion Time Served, Mostly

Rapper Ja Rule spent the last nearly two years in prison at Ray Brook Correctional Facility in upstate New York on charges that included illegal gun possession and tax evasion. Now he'll finish his sentence on home confinement.
567
A&A

LA Jeweler Pleads Guilty in KPMG Insider Trading Case

Los Angeles jewelry store owner Bryan Shaw faces a maximum of five years in prison after he pleaded guilty May 20 for his role in an insider trading case involving a former senior audit partner at KPMG LLP.
386
Education & Careers

CPA Firm Sponsors Yearlong Push for Employee Health, Fitness

Healthy living is a year-round commitment at Herbein + Company, a 110-person CPA firm in Pennsylvania where employees are encouraged to participate in the firm's wellness program throughout the year.
1149
Education & Careers

BDO and Ernst & Young Named Top Workplaces for Recent Grads

BDO USA LLP and Ernst & Young LLP were among twenty-five companies that were included in the Best Places to Work for Recent Grads 2013 report from ConnectEDU Inc., a technology company committed to transitioning learners from school to college to career.
1204
Practice

Survey Finds Small Businesses Slowly Increasing Economic Activity

Small business owners are showing a willingness to hire more employees amidst signs of expanding business activity, according to the most recent Business Confidence Survey released by Insperity, Inc., a provider of human resources and business performance solutions.
532
Practice

The Tools That Build Brands

What identity do you want your firm to have? What do you want people to think of when they hear the name of your firm? Once you've identified your firm's desired positioning, the next step is to plan the branding strategy that will make it a reality.
512
Tax

New Orleans Saints Coach Sean Payton Settles Tax Credit Lawsuit

Twenty-seven investors, including Saints coach Sean Payton, wanted to reduce their overall state income tax liabilities by investing in movie production tax credits. But the film studio was defunct, and the tax credits didn't exist.
489
Practice

Three Indicators of Creditworthiness for Your Business Clients

Are your business clients applying for a loan? Sageworks Research Specialist Mary Ellen Biery outlines three indicators of creditworthiness and how your clients can improve them.
311
Practice

Company Announcements: Week of May 20, 2013

Following is the latest roundup of community news for the week of May 20, 2013.
786
Tax

IRS Is Sued for Seizing Medical Records

The IRS has come under fire recently for reportedly authorizing intrusions into e-mails and online postings without obtaining a search warrant. Now it appears medical records might not be safe from the prying eyes of the nation's tax collection agency.
3414
Tax

IRS to Refund Tax Preparers for Canceled Certification Tests

The IRS announced on May 16 that it's issuing refunds to tax return preparers who registered for certification tests that were canceled due to a court-ordered injunction in late March. Fees collected from tax preparers who tested on or after January 18, the date the tests were enjoined, are also being refunded.
841
Technology

Farewell, Lotus 1-2-3

IBM recently announced that Lotus 1-2-3 will no longer be available for purchase. Most readers of this article will likely have one of two reactions: "What is Lotus 1-2-3?" or "Lotus 1-2-3 was still on the market?"
940
Tax

Obama Names Daniel Werfel Acting IRS Commissioner

The current controller of the US Office of Management and Budget has been appointed by President Obama as the new acting commissioner of the IRS, effective May 22. Daniel Werfel will take over the position vacated by Steven Miller, who resigned on May 15.
792
Technology

Are Mobile Devices Causing a Digital Divide in the Workplace?

Each day when Bill Walter hops on the elevator in the building that houses his CPA firm, a majority of the people riding with him have their smartphones in hand – checking e-mails or surfing the Internet – before arriving at their particular floors.
1455
Education & Careers

Summer Construction: Rochester CPAs Ramp Up Fundraising to Build Habitat Home

The CPA community in Rochester, New York, is channeling its naturally competitive spirit into selfless cause this summer. They're trying to see who can raise the most money to break ground on a local Flower City Habitat for Humanity (FCHH) home.
474

Pages

Voice of the Editor

What makes a company a great place to work? Experience, a ConnectEDU company, uses criteria that include benefits, career advancement opportunities, culture, and work/life balance to form its annual list of the Best Places to Work for Recent Grads. BDO USA and Ernst & Young both made the Top 25 list. Read what makes these firms stand out and find out what can be done at your firm to entice college grads.

Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
ADVERTISEMENT

This Week on AccountingWEB

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.
Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.
Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Loading...
AccountingWEB Live!
This is the groundbreaking virtual conference that gives you the experience of attending a major national conference without having to travel or leave your office. We're gathering national-caliber speakers from the accounting profession to share their knowledge and insights with you. We promise each session will contain valuable takeaways you can implement in your practice immediately.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT