News

Tax

Video Explains New FSA Flexibility Rules

In a new video on health care FSAs, the IRS shows flexibility on the old "use it or lose it" rules. You now have a choice between a grace period and carryover.
A&A

New Study: Paid-For Analyst Reports Can Benefit Investors

Recently published research by three accounting professors found that reports from paid-for stock analysts offer nearly the same relevant information to investors as reports from sell-side firms.

How the IRS Tells a 'Loan' from a 'Gift'

The IRS gives you a deduction on loans when you can't collect, but there can be a thin line between a bad loan and a gift, especially when relatives are involved.
A&A

Bramwell’s Lunch Beat: SEC to Hear Appeal From Big Four’s China Affiliates

The menu for May 12 features specials on Pfizer/AstraZeneca deal: more about drugs or taxes, Credit Suisse CEO losing support, the House won’t arrest Lois Lerner, and more.
Practice

How to Set Up Your Firm in the Correct Model

You probably have a model of how your firm should run. You probably think it's a profitable way of doing business. Unfortunately, you're wrong. But you can fix it.
Practice

How to Make a Stranger a Client

Where are your new clients coming from? Maybe you need to think a little out-of-the-box. It's all about engaging new people, and here are some examples of how to do that.
A&A

Bramwell’s Lunch Beat: Wyden Wants to Plug ‘Inversion’ Loophole

The menu for May 9 features specials on US likely to join six-nation tax alliance, Pfizer shareholders could face tax hit in AstraZeneca deal, IRS to give Ways and Means all Lois Lerner e-mails, and more.
Tax

R&D Tax Credit Bill Moves Through House

In a vote of 274 to 131, the House passed a measure on Friday that permanently extends the popular business R&D tax credit – which will add $156 billion to the deficit – despite a veto threat earlier this week from the White House.
A&A

FAF Issues Report: Brave New World in Accounting

New people, new policies, new releases—and even new logos. The Financial Accounting Foundation's annual report shows just how busy everyone has been in Norwalk.
Education & Careers

Jeopardy-Style Game Show Helps Accounting Students

A novel way of studying for the Uniform CPA Exam combines a game show atmosphere with rigorous questions. "I'll take FASB 133 for $200, Alex."
A&A

PCAOB Seeks Input on Reorganization of Auditing Standards

Comments on the proposal – which would reorganize the existing interim and PCAOB-issued auditing standards into a topical structure with a single integrated numbering system – are due by July 8.
A&A

Bramwell’s Lunch Beat: SEC in ‘Tough Spot’ With Alibaba IPO

The menu for May 8 features specials on fewer tax audits = $3 billion less for US government, PCAOB hands out sanctions, FASB proposes new requirements on "pushdown accounting," and more.
A&A

Auditing Special Purpose Frameworks: Key Controls

Key controls in smaller audits— the elements that have a pervasive affect upon the accomplishment of management's control objectives.
Tax

House Votes to Hold Ex-IRS Official Lois Lerner in Contempt

Contempt citation was passed by a vote of 231 to 187, almost a year after the IRS first acknowledged and apologized for scrutinizing the tax-exempt status of some conservative groups.
Practice Management

How to Avoid Self-Directed IRA Nightmares

As your clients' accountant, you may find yourself in the position of dealing with the messy aftermath of bad IRA decisions. Here's how to avoid self-directed problems.
A&A

Bramwell’s Lunch Beat: White House Opposes House R&D Tax Bill

The menu for May 7 features specials on Missouri gets an income tax cut, Congress’ struggles over web tax, new House Dems IRS scandal report, most US millionaires think inequality is a problem, and more.
Practice

A Do-It-Yourself Peer Review for Tax Preparers

How do small tax prep firms handle peer review? If you're the sole professional, whom can you rely on to cast a second glance on your work? There are several solutions.
Tax

Did Ways and Means Violate Section 6103 of the Tax Code?

An article posted yesterday by the website Tax Analysts questions whether the House panel broke the law when it publicly disclosed confidential taxpayer information in a letter to US Attorney General Eric Holder last month.
Education & Careers

Individual Leadership: Powerful Goal Setting

During the third session of a four-part series on Individual Leadership, the focus will be on powerful goal setting as a critical success factor of being and becoming a leader.

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