Accounting

August 21, 2014 

Business taxes account for 44.9% of all state and local taxes.

Isaac M. O'Bannon

August 21, 2014 

New standards issued by the Government Accounting Standards Board mean that next summer local governments could see some impact in credit ratings or some influence on pension payments.

August 21, 2014 

Frequently, the IRS challenges deductions for business-related driving expenses, especially when they involve local travel. Start with this basic premise: To qualify for transportation deductions, you must be traveling away from your tax home to a business location. For this purpose, your tax home is generally your principal place of business, not the place where…

Ken Berry, JD

August 21, 2014 

The more things change, the more they stay the same. Despite the thousands of revisions to the tax code that are made each year, the IRS continues to focus on travel and entertainment (T&E) deductions in audits of business taxpayers.

Ken Berry, JD

August 20, 2014 

An accounting standard for state and local governments that addresses the impairment of capital assets and insurance recoveries provides important information to users of financial statements and resolves some but not all of the issues underlying its purpose.

Isaac M. O'Bannon

August 20, 2014 

As part of its simplification initiative, the Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement.

Isaac M. O'Bannon

August 20, 2014 

The American Institute of CPAs has opened the enrollment period for the 2014 Accounting Competition, with a total of $40,000 in awards at stake. The fifth annual competition challenges teams of undergraduates to play the role of management accountants and combine their accounting and financial expertise with strategic insight to help guide business decisions.

Isaac M. O'Bannon

August 20, 2014 

FreshBooks has introduced its new Freshbooks Accountant Center, which is free for accountants with clients using Freshbooks.

Isaac M. O'Bannon

August 20, 2014 

As campaign season officially swings into high gear, here are the top five issues of importance to the country’s small business owners this election year.

Isaac M. O'Bannon

August 19, 2014 

LibraTax is designed to help balance the Bitcoin books by optimizing capital gains/loss reporting on virtual currency transactions.

Isaac M. O'Bannon

August 19, 2014 

The economic uptick over the past year has led to renewed interest in retirement savings, according to Deloitte's 13th Annual Defined Contribution Benchmarking Survey.

August 18, 2014 

Looking to buy your first home? A new study shows that the Midwest, and specifically Texas and Oklahoma, have the highest ranked cities for first-time home buyers.

Isaac M. O'Bannon