Below please find daily updates pertaining to the latest in financial, business, and tax news:
FICPA: Top StoriesTax Changes Would Affect Individuals, Businesses
Last month the Obama administration released its proposed budget for fiscal year 2011. Included are many income-tax proposals that, if enacted by Congress this year, will greatly affect both individual and business taxpayers.
Legislature Approves Delay On Tax Increase
Making the most of an election-year opportunity, the Legislature agreed Tuesday to grant nearly a half-million businesses a two-year delay in a massive unemployment-compensation tax increase.
Two-Week Statewide Seat Belt Crackdown Begins Today
Hundreds of law enforcement agencies across Florida are kicking off a "Click it or Ticket'' campaign Monday targeting motorists who drive without wearing seat belts.
Bank CFOs describe how they've weathered the storm, dealt with TARP, and learned many invaluable lessons.
CCH Lists Ten Ways to Reduce Your Taxes Whether You Itemize or Not
RIVERWOODS, Ill., March 1 /PRNewswire/ -- You don't have to itemize to find opportunities for savings on your taxes, according to CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services (CCHGroup.com). But be sure to select your tax form carefully and read the instructions thoroughly. Not every deduction or credit appears on every form. While some deductions and credits have their own lines, others do not. You are required to do some hunting and may have to fill in the blanks to take advantage of them.
10 Things to Watch for In 2010 Legislative Session
As the 2010 session dawns, here are 10 things to watch for:
Signature legislation: A series of agriculture bills, cosponsored class-size amendment and the Florida Firearms Freedom Act, guns made and sold within Florida are not subject to federal regulation
Gov. Crist Prepares His Last State-Of-The-State Address
Florida governors give their state-of-the-state addresses on the opening day of the annual 60-day session of the Legislature.
Election Year Adds Twist to Legislative Session
Gov. Charlie Crist wants tax cuts for businesses and consumers, Senate President Jeff Atwater is making government spending more transparent and Sen. Dave Aronberg wants tighter rules for pain management clinics to help ensure they aren't run as pill mills.
More Trouble On The Horizon for Florida Banks
Community bankers Don Page and Larry Starnes were both breathing easier last week.
AccountingWEB.com - News
Retaining African Americans in the accounting profession
The low number of African Americans in the accounting profession is discouraging, and that number might even be declining despite the best efforts of hiring firms.
Grant Thornton takes a stand regarding SEC, IFRS Roadmap
Grant Thornton has been, and continues to be, a staunch supporter of the ongoing movement toward one set of high-quality, globally accepted accounting standards. As CPAs, we view financial reporting as a unique language used to communicate the economic results of a company’s activities and fiscal health. At present, that language features several different dialects, depending on where a company operates.
Saving QuickBooks clients from themselves: Set up Draw as an Other Expense
By Leslie Shiner, MBA, Advanced Certified QuickBooks ProAdvisor and Enterprise Certified QuickBooks ProAdvisor
Do you work with a Sole Proprietor or S-Corp? Has your client ever been confused by having to pay taxes on a large profit, when there is no money in the bank?
Sometimes we have to help save clients from themselves.
Small business and QuickBooks: Did you reconcile?
Love it or hate it, most small business owners are using QuickBooks to track their company’s finances. I’ve found that many people, while using QuickBooks to enter transactions, fail to follow through to ensure they are are getting everything entered. If you get to the end of the year with a bunch of missing transactions, it is going to be that much harder to track down the reason why your checking balance and your QuickBooks balance are worlds apart.
Before I give the basic how-to of reconciling in QuickBooks, let’s establish some ground rules:
Tools for virtual accountants: portals, applications, and file space
By Joanie C. Mann
There are three primary tools that every accountant or bookkeeper needs in order to work most efficiently with clients online. Using the Internet as the network, business professionals everywhere are realizing that the issues of time and distance no longer impact their ability to get work done. In order to make the most of your virtualized working model, consider the value of the following three elements you should have in your online toolkit.
