Munis Yielding More Than Treasuries for First Time Since Crisis

Tax-exempt bonds are yielding more than Treasuries for the first time since the financial crisis, a relationship that history shows doesn’t last, especially as the Federal Reserve kindles inflation expectations. Investors buying AAA municipal general obligation bonds due in two years get a yield equal to 119 percent of similar- maturity Treasuries, Bloomberg Fair Market […]

CPAs year-end tax-savings tips

The Queens/Brooklyn Chapter of the New York State Society of Certified Public Accountants (NYSSCPA) recommends these Year-end Tax Tips for consumers: 1. Get Organized: Put your tax data together now. Round up receipts and cancelled checks from charities; check your latest brokerage statement for year-to-date gains or losses; make a checklist of accounts to keep […]

UC tuition to rise 8% for next year

Regents vote 15 to 5 for the increase, meaning undergrads will face $12,150 per year in tuition. The move meets little outcry. Financial aid also is expanded. The basic cost of an undergraduate education at the University of California will rise 8%, or $822, next school year after a regents vote Thursday, although officials said […]

Fed to require stress tests of big banks

The Federal Reserve will require big banks to undergo a new round of stress tests — this time, to determine if they are sound enough to begin raising their stock dividends. Click here for full article!

FASB Clarifies Troubled Debt Restructuring

The standard setter releases new proposed accounting guidance to better define what is – and is not – a troubled debt restructuring. Last month the Financial Accounting Standards Board issued a proposed guidance related to troubled debt restructuring that included several important clarifications for both debtors and creditors. The proposed accounting standards update (ASU), Clarifications […]

What Every Tax Return Preparer Needs to Know about Applying for a PTIN

New regulations require all paid tax return preparers to apply for a Preparer Tax Identification Number — even those who already have one — before preparing any federal tax returns in 2011. The PTIN requirement is one of the first provisions being implemented in a new oversight program to help regulate the tax preparation industry. […]

Senate Finance Expected to Consider Tax-Exempt Qualifications Next Year

The Senate Finance Committee will be looking at some of the qualifications for tax-exempt status when the 112th Congress convenes in January, Patricia Read, senior vice president at Independent Sector, said Nov. 9. “The definitions about who and what should be exempt from taxation, who and what should be eligible to receive tax deductible contributions, […]

November 10, 2010—Summary of Board Decisions—FASB Board Meeting

Going concern. The Board discussed a summary of key issues raised by external reviewers on a preliminary staff draft of a proposed Accounting Standards Update for this project. The Board decided that those issues should be deliberated at a future meeting and the staff draft revised based on the deliberations. Because this project may overlap […]

U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare

A presidential commission’s leaders proposed a $3.8 trillion deficit-cutting plan that would cut Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction. The co-chairmen of the panel appointed by President Barack Obama suggested reducing Social Security spending by raising the retirement age to 68 in about 2050 and 69 […]

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Munis Yielding More Than Treasuries for First Time Since Crisis

Munis Yielding More Than Treasuries for First Time Since Crisis

CPAs year-end tax-savings tips

UC tuition to rise 8% for next year

Fed to require stress tests of big banks

FASB Clarifies Troubled Debt Restructuring

What Every Tax Return Preparer Needs to Know about Applying for a PTIN

Senate Finance Expected to Consider Tax-Exempt Qualifications Next Year

November 10, 2010—Summary of Board Decisions—FASB Board Meeting

U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare

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