October 13, 2010
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One Step Closer to Little GAAP
A blue-ribbon panel on private-company accounting standards recommends a separate GAAP for private companies. A blue-ribbon panel has recommended that a new set of accounting standards be drawn up for private companies based on U.S. generally accepted accounting principles. The panel also recommended that a private-company rulemaking board be established, separate from the Financial Accounting […]
Read more- October 12, 2010
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White House Adviser’s Comment on Koch Taxes Probed
The Treasury Department is reviewing complaints by Republicans that White House adviser Austan Goolsbee may have broken confidentiality laws by commenting on the tax structure of Koch Industries Inc., a political foe of President Barack Obama. Russell George, the Treasury inspector general for tax administration, told Iowa Senator Charles Grassley, the top Republican on the […]
Read more- October 11, 2010
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Tax Legislation Update: The Small Business Jobs Act and Bonus Depreciation
The Small Business Jobs Act of 2010 (H.R. 5297) was signed into law on September 27, 2010. With the understanding that for small businesses to be able to expand, they need both tax cuts and greater access to loans, the Act creates new and expanded tax incentives and a $30 billion loan fund. The Act […]
Read more- October 01, 2010
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Tip: The R&D Tax Credit Might Benefit Your Business
In mid-September, President Obama proposed expanding the research and development of a tax credit that was first enacted in 1981 – and making the benefit permanent. The provision, which has been extended some 13 times since 1981, provides companies that perform technological research with tax breaks on the cost of payroll, supplies for research workers […]
Read more- October 01, 2010
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Technology: Tracking Technology Inroads Create Consumer Backlash
Online tracking devices – commonly referred to as cookies – and the industries involved in their proliferation are attracting increased attention from lawmakers in response to an upswing in consumer complaints and litigation. As a result of recent public scrutiny and ensuing litigation, the Federal Trade Commission is expected to review its current privacy guidelines […]
Read more- October 01, 2010
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When Someone Dies, Who Pays the Debt?
Although no one likes to think about end-of-life issues, it’s always best to educate yourself on the fine points of estate planning to ensure a smooth transition for your beneficiaries. Given the current economy, how are credit cards and other loans paid off if a person dies and leaves outstanding debt? Are they paid from […]
Read more- October 01, 2010
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Stock Market: Tax Issues, Cautious Recovery Create Uncertainty
News that the recession officially ended some 15 months ago failed to generate much excitement among Wall Street pundits. Economic growth and unemployment have yet to perform significantly better than during the official recessionary period. Truth be told – and semantics aside – analysts and individual investors alike are most concerned with implications of the […]
Read more- October 01, 2010
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The Right Stuff: Six Traits of Dynamic Business Professionals
Do you have what it takes to outlast your business? All too often, business owners, directors and managers hurt the long-term survival of their companies because they either don’t realize their shortcomings or lack the ability to do something about them before it’s too late. A recent study conducted by the Guardian Life Small Business […]
Read more- October 01, 2010
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Tax Benefits Change for College Funding Programs
Everyone knows the cost of college tuition has skyrocketed to almost incomprehensible levels. According to CollegeBoard.com, the average tuition and fees for in-state students at a public four-year college is $7,020, while the average full-time, out-of-state price tag is $11,528. Compare that to private four-year colleges that charge an average of $26,273 per year in […]
Read more- October 01, 2010
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For New Tax Breaks, Act Fast
The recently signed Small Business Jobs Act promises that investors who put money into small companies will get full relief from capital-gains taxes on any returns. But to get the break, investors have to act in the next three months. That’s too short a time to identify and strike a deal with an up-and-coming business, […]
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