Below please find daily updates pertaining to the latest in financial, business, and tax news:
FICPA: Top StoriesWorld's Largest Junior Financial Achievement Center Opens
This month, buses will arrive in Coconut Creek at the world’s largest Junior Achievement “world” center to deposit the first of an estimated 50,000 students who will visit annually for an education in hands-on financial decision-making. JA World Huizenga Center at Broward College opens nearly 20 years after Marti Huizenga, wife of the Fort Lauderdale billionaire, visited a financial education program called Enterprise Village in Pinellas County at the behest of vacation home neighbor Gus Stavros, a philanthropist who funded the initial program in Pinellas. She resolved to bring something similar to the Fort Lauderdale area.
This Accountant Keeps Candidates Squeaky Clean
When sloppy record-keeping triggered a federal audit of Mel Martinez’s 2004 Senate campaign several years ago, the freshman Republican lawmaker blamed the accounting errors on the volume of donations he’d received. His campaign staff, he explained, had simply been "overwhelmed" by the $12 million it raised and spent over a 10-month period. As a result, his disclosures were "not at the level it needed to be."
Feed the Pig Weekly Savings Tip: Be Prepared for Disasters
As hurricane season swings into full gear on the East Coast and wildfires threaten parts of the West Coast, we are reminded that natural disasters often strike without warning. Being ready before your community and your home are affected is an important step when preparing for your financial future. Here are a few tips on how to prepare in a financially sensible fashion.
Most Companies Underestimate Sales Taxes
A new study from sales tax software vendor Sabrix found that 95 percent of the companies it surveyed underestimated their sales tax liability and nexus footprint across state lines.
PCAOB Reporting Rules to Take Effect October 12
Public Company Accounting Oversight Board rules requiring reporting by registered public accounting firms were approved by the Securities and Exchange Commission on August 13, 2009 and will take effect on October 12, 2009. The rules implement a provision of the Sarbanes-Oxley Act of 2002 and constitute the first reporting obligations imposed on registered firms by the Board.
Hartford Financial to Refund Florida Businesses $48M
Hartford Financial Services Group has agreed to issue refunds or credits of $48.2 million to Florida businesses for excess profits it received on workers’ compensation policies. Florida Insurance Commissioner Kevin McCarty said in a news release that Hartford Financial entered into an agreement with the state on policies issued between 2004 and 2006.
J. Thomas Cardwell to Head Florida Office of Financial Regulation
Florida has a new chief of its office of financial regulation. Gov. Charlie Crist and the Cabinet on Tuesday appointed 66-year-old J. Thomas Cardwell as commissioner of the Florida Office of Financial Regulation. The selection, at the urging of CFO Alex Sink, brings the longtime Akerman Senterfitt attorney from a career in the private sector to state service. Cardwell has served as general counsel for the Florida Bankers Association for more than 20 years. He will start with OFR on Aug. 24, making $133,000 — the same salary as the Office of Insurance Regulation commissioner.
Florida's existing home, condo sales up in June 2009
Florida’s existing home sales rose in June, the 10th consecutive month that sales activity showed gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR).
Students use music camp to collaborate on album
Angela Poole is running a modern-day Motown out of a recording studio called The Sound of Tallahassee.
Upcoming decisions will radically change Florida's property-insurance market
Heading into the most active months of the hurricane season, upcoming regulatory decisions will radically change Florida’s property-insurance market and determine the future for millions of consumers.
Intuit innovation shines in gallery tour
Last week, Intuit hosted a unique event: a tour of several of the products it has in the development pipeline. Many of the products on display are still in development and testing phases, some may not make it to the market. Others are already in play, some in selected markets. The overall effect of the event was to underscore the fact that Intuit is by no means resting on the laurels of its flagship products, but is continuously working to move ahead and stay on top of innovation and new products for our changing society.
New time management techniques
By David Tighe
Time management remains a core focus within leadership, coaching, and mentoring programs.
Inevitably, to keep the subject fresh, new buzz words and soon-to-be clichés pop up to put new clothes on old concepts. You take the new label with a grain of salt, but sometimes the new label makes sense.
Employers shift health care costs to employees
Workers on average are paying nearly $4,000 this year toward the cost of family health coverage - an increase of 14 percent, or $482, above what they paid last year, according to the benchmark 2010 Employer Health Benefits Survey released this month by the Kaiser Family Foundation and the Health Research & Educational Trust (HRET).
IRS explains 2011 changes to flexible spending arrangements
The Internal Revenue Service has issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.
Virginia CPAs offer tips on preparing financially for disaster
Peak hurricane season for Virginia and the Mid-Atlantic States has arrived. While it’s unsettling to think a natural disaster could affect you, emergencies can and do occur.