Accounting
New GASB Pension Standards Start June 15, 2014
New accounting standards for pensions will go into effect after June 15, 2014, the Governmental Accounting Standards Board has announced.
Isaac M. O'Bannon
Managing Editor
isaac.obannon@cpapracticeadvisor.com
Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies.
Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran.
Email: isaac.obannon - @ - cpapracticeadvisor.com
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Accounting
Franchisees Saw Strong Growth in 2013, Expectations High for 2014
If you have clients who are franchisees, did they experience the same strong growth as seen across the franchise sector in 2013? According to a new report, last year was a banner year, with industry outpacing the overall U.S. economy in business formation and job growth, creating an estimated 11,000 new establishments and 10 percent of the nation’s new jobs.
Income Tax
Supreme Court: Severance Payments are Taxable Wages for FICA Purposes
The Court ruled that severance packages and payments that are given to involuntarily laid-off workers are taxable not only as individual income, but also with regard to FICA employment taxes. It was a unanimous 8-0 ruling, with Justice Elena Kagan recusing herself from the case. Oral arguments were heard by the court last October.
Accounting
AICPA Supports Congressional Focus on Lowering National Debt
In open hearings of the House Financial Services Committee, representatives are putting a renewed focus on the dangers of America's increasing debt.
Accounting
Internal Auditors Leveraging Technology to Protect Against Risk
As the business technology world is ever-changing, internal auditors are focused on better navigating social media risks, leveraging technology to improve the audit process, and collaborating more with business partners to address organizational risks.
Income Tax
The Biggest Tax Mistakes for Small Businesses
There are strategies that these business owners can take to help alleviate many of these tax time woes, and a big one is by staying in more frequent contact with their accountant. That's according to a new nationwide survey of accounting professionals.
Accounting
Which Cities Rank the Best for Startups?
When you think of startups, New York City, Silicon Valley and San Francisco probably come to mind as great locations. But where do these two tech meccas rank on a list of the "best cities" for startups? Not even in the top five.
Accounting
CFO Confidence at Two-Year High
Chief Financial Officers in the U.S. are starting 2014 with increased optimism when it comes to the economy and their businesses, according to the results of a new survey conducted by Financial Executives International (FEI) and the Zicklin School of Business at Baruch College .
Accounting
The SMB Cloud Accounting Market is Still a New Frontier
There has been a lot of activity in the online accounting market over the past few years and, according to some vendors, there is a big battle being waged for the minds (and wallets) of small businesses.
Small Business
Small Business Expert Gives Advice on Competing Against the Big Guys
Before the Internet, small companies didn't stand a chance against the Goliaths, says Corrine Sandler, a globally recognized leader in business intelligence and market research.
Accounting
Cold Weather Has Chilling Effect on Small Business Hiring
A new report shows that the unusually cold winter across the United States may have had an effect on hiring at small businesses, as sales revenue in many parts of the country were down due to weather conditions.
Accounting
Small Businesses Missing Out on Time-Saving Tech
The results show that more than half of small businesses surveyed still use manual processes, such as a spreadsheet or pen and paper, to track finances. In addition, almost 40 percent of these businesses are spending multiple days on tax preparation.