Taxes
How Per Diem Rates Can Simplify Travel Expense Reporting
The IRS has just announced new federal per diem travel rates for Fiscal Year 2015 (FY 2015), which spans October 1, 2014 through September 30, 2015. Unlike many other previous years, when per diem rates were typically bumped up just a dollar or two or not
IRS Extends Deadline to Claim Retirement Loss Deductions
On September 18, the IRS released an advanced copy of Rev. Proc. 2014-54, which provides guidance on certain changes in method of accounting for dispositions of tangible depreciable property. One of the most notable changes in this 93-page document is tha
Concur to be Acquired by SAP
SAP, the international developer of enterprise software and customer relationship management systems, has reached an agreement to acquire travel and expense management company Concur, the companies announced early Friday.
Good Tax News? Many Americans May See Lower Federal Taxes in 2015
Sit back and brace yourself for some good tax news? A new report from financial and legal information company Bloomberg BNA points to lower upcoming tax bills for many U.S. taxpayers as a result of adjustments based on the higher Consumer Price Index.
AICPA Urges Congress to Act on Tax Extenders
The American Institute of CPAs (AICPA) is urging Congress “to immediately address the fifty-seven tax provisions that expired at the end of 2013 and the six tax provisions that expire at the end of 2014.” Congress began consideration of extenders legislation earlier this year, the AICPA wrote in its September 15 letter, but “America’s businesses […]
IRS Videos Focus on Taxpayer Bill of Rights
The Internal Revenue Service has released a new YouTube video encouraging taxpayers to learn about the Taxpayer Bill of Rights.
McGladrey Acquires Battelle Rippe Kingston LLP
The accounting firm of McGladrey LLP will acquire the assets of Battelle Rippe Kingston LLP, a Certified Public Accounting firm offering services in the fields of assurance, tax and consulting in Southwest Ohio. The closing is expected to occur on Nov. 1,
Are Your Clients Likely to Face a SALT Audit?
Historically, a business' gross revenues follow seasonal patterns and even a small change in gross revenue should result in a small change in the associated accounts. In an attempt to discover why one established contractor was selected for audit, I reviewed their sales tax filings and created the below table.