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11 Oct '14
Why do some family firms thrive while others merely survive or even wither away and die? Many reasons, of course. However in my experience, successful family firms are distinguished by their attention to sound financial strategies and practices. To borrow a phrase there are seven financial habits in particular that separate the best from the […]
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If you want to attract a big crowd of technology executives to a presentation, make it a seminar or panel discussion that includes three or four representatives of major venture capital firms. The technology executives will gather in hopes of learning the secret about what it takes to separate venture capitalists from their investment funds. […]
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Scammers posing as the IRS are trying to solicit foreign financial institutions for account-holder identity and financial account information under the Foreign Account Tax Compliance Act (FATCA), the tax agency warned in a fraud alert on Wednesday. These illegal solicitations are known as ?phishing? scams, which are typically carried out through the use of unsolicited […]
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11 Oct '14
The school year is off and running?have your start-up clients launched as well? It may make a big difference in tax status. If your clients can get their businesses up-and-running before the end of the year, they may currently deduct qualified start-up costs. Otherwise, these expenses must be amortized over 180 months?a whole 15 years. […]
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Starting in October, the IRS will send warning letters to tax return preparers who appear not to be complying with Earned Income Tax Credit (EITC) due diligence requirements. Section 6695(g) of the Internal Revenue Code states that ?any person who is a tax return preparer with respect to any return or claim for refund who […]
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A new survey from online accounting software provider Xero found that nearly 90 percent of small businesses are forecasting an increase in revenues next year, while 21 percent are expecting growth of more than 100 percent. The optimism among small business owners for 2015 is based on significant growth their businesses achieved this year. Of […]
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As two of the accounting world’s major governing bodies?the FASB and theIASB?converge, they’re scrutinizing how businesses track lease expenses. Under existing accounting standards, a majority of leases are not reported on a lessee’s balance sheet. The amounts involved can be substantial, as many firms lease much of their equipment. Affected companies need to have a […]