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House and Senate spar on repeal of 1099 reporting rule
Last week, the U.S. House of Representatives passed H.R. 4, a bill repealing the health care reform law provision that requires businesses to furnish 1099 statements to corporate vendors. The House bill has been returned to the Senate where it faces an uncertain fate.
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Don't go another year without a succession plan!
If a key partner decided to retire or became disabled, would your firm have a plan for transitioning clients, choosing a replacement leader, and ensuring continuity of firm vision and strategy?
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PwC outdoes other big firms on DiversityInc's 2011 Top 50 list
Each year, DiversityInc publishes its Top 50 Companys for Diversity, assessing the diversity management in corporate America and globally. This year, all of the Big Four firms have a presence on the new annual listing.
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Blog: Lease accounting: another reason to change it
The FASB has been going back and forth on a new accounting standard for lease accounting. I for one was glad to see them back off of their proposal to force every lease onto the balance sheet.
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Blog: A conversation about family business
Do you realize that U.S. family businesses represent 50% of GDP, 60% of employment, 78% of new jobs created, and 35% of Fortune 500 companies? Family businesses are often your vendors, customers, and competitors.
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Blog: Leadership transitions in family business
"Founderitis" occurs when an entrepreneurial found is not able to turn over control to the next generation. This often has the impact of suffocating next-generation leaders.
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There's no question that the tax gap is real. The IRS estimates that almost 20 percent of the total tax liability of the nation goes unpaid every year by individuals and businesses that underreport income. Hundreds of billions of tax dollars never get paid. The 1099 reporting rule was designed to combat this shortfall.
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Best wishes,
Gail Perry, CPA

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