June 12, 2011
Andrew Presti
Blog Posts
0 CommentsNo business can survive for long without a positive cash flow – that is, more cash flowing in than flowing out. This is probably the top reason a business fails. In times of an economic downturn, you must be aware of your company’s current cash situation and take the necessary steps to repair and improve […]
Read moreJune 12, 2011Andrew PrestiBlog Posts0 CommentsMining Online Revenues With many states facing revenue shortfalls, there is a renewed intensity over how state governments can collect sales taxes from online retailers. New York, Illinois and other states have already passed legislation requiring online sellers with a presence in their states to collect sales taxes from residents. Clicking Through While the legislation […]
Read moreJune 10, 2011Andrew PrestiBlog Posts0 CommentsJune 8th, 2011 The Federal Reserve’s Beige Book is a little less blah about the economic recovery than most recent reports. Despite a few signs that economic growth is slowing, the report covering the Fed’s 12 districts reported the recovery is actually chugging along at a solid pace. “Reports from the twelve Federal Reserve Districts […]
Read moreJune 09, 2011Andrew PrestiBlog Posts0 CommentsJune 8th, 2011 The IRS seems to be pulling out the stops to encourage more taxpayers to come clean and join its 2011 offshore voluntary disclosure initiative by the Aug. 31, 2011 deadline. These filings are very complex and have many unintended consequences. For some, joining the program means accepting huge tax bills — a […]
Read moreJune 08, 2011Andrew PrestiBlog Posts0 CommentsJune 8th, 2011 What a difference a year — and a big tax cut — makes. A recent Treasury report noted that national debt will exceed the size of the economy this year — a first since World War II. A year ago, the Treasury had estimated that notorious record wouldn’t be hit until 2014. […]
Read moreJune 07, 2011Andrew PrestiBlog Posts0 CommentsJune 4th, 2011 The Internal Revenue Service issued guidelines this week to help U.S. citizens living overseas report their foreign bank accounts, and offered some taxpayers more time to get into a special program to tell the IRS about accounts they kept secret. An Aug. 31 deadline to enter a voluntary disclosure program may be […]
Read moreJune 06, 2011Andrew PrestiBlog Posts0 CommentsIn a recent tax ruling, an appeals court contrasted an insurance company and a landlord. In the 1990s, Anthem, the predecessor of WellPoint and a for-profit seller of health insurance policies, acquired three nonprofit Blue Cross Blue Shield units — one each in Connecticut, Kentucky, and Ohio. Since both Anthem and the acquired Blues were at […]
Read moreJune 03, 2011Andrew PrestiBlog Posts0 CommentsJune 2nd, 2011 Several modifications that the American Bar Association Section of Taxation sought from the Internal Revenue Service in relation to the reporting of uncertain tax positions were not adopted in final rules under Circular 230, practitioners told BNA June 1. The ABA tax section had recommended that the proposed amendment to Section 10.34 […]
Read moreJune 02, 2011Andrew PrestiBlog Posts0 CommentsJune 1st, 2011 The IRS has issued final regulations governing practice before the IRS under Circular 230. The regulations modify the general standards of practice before the IRS and the standards with respect to tax returns, and provide guidance with respect to registered tax return preparers. The final regulations adopt, with certain revisions, proposed regulations […]
Read moreJune 01, 2011Andrew PrestiBlog Posts0 CommentsMay 30th, 2011 In study after study, 401(k) investors come up short of the amount they need to sustain a pre-retirement lifestyle during their golden years. The reason for the failure? Lack of planning. To avoid finding yourself in short of cash just as your leisure years begin, consider these six tips. 1. Have a […]
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