July 9, 2016
Congress Probes $7 Billion in ObamaCare Payments to Insurers
The House Ways & Means Committee has released a 150-page report claiming the Obama administration effectively pilfered $7 billion from taxpayers.
July 7, 2016
4 Tips for Managing Expenses When Employees Are On the Road
You’ve seen this before… Companies with road warrior sales teams who hit the highways and rack up frequent flier miles and costs associated with hotels, airfare and rental cars or client entertainment.
July 7, 2016
Republican or Democrat? Business Owners Say Neither Party Supports Them
Small-business owners expressed a growing level of frustration with politicians. When asked which party best represents them as an individual, more small-business owners responded with "neither party," than with Republican or Democratic.
July 7, 2016
172,000 Jobs Added in June, Says ADP
Private sector employment increased by 172,000 jobs from May to June according to the June ADP National Employment Report.
July 6, 2016
2016 Fringe Benefits Tax Series #8: Cash In on Employee Discounts
Does your business offer discounts to its employees and family members? This can be a valuable fringe benefit to your workers and shows that you believe in your own brand. But does a discount qualify for a tax exclusion? It depends.
July 6, 2016
CEOs Say Next 3 Years Are More Critical than the Last 50
A stronger client focus was identified as the CEOs’ top strategic priority. Eighty-six percent are concerned about how to keep up with the differing wants and needs of millennials.
July 6, 2016
Financial Execs Struggle To Measure and Mitigate Risks
The survey also reveals that many organizations face a large challenge in moving toward a higher maturity of GRC activities – 43 percent of respondents say they are operating their compliance efforts at an ad hoc or fragmented/siloed level.
July 5, 2016
2016 Fringe Benefits Tax Series: #5: Dine At Work On The IRS
Does your business provide meals to its employees in your own cafeteria or by other means? Generally, the cost of this fringe benefit is deductible by the business and tax-free to the employees, but only as long as certain tax law requirements are met.
July 4, 2016
5 Tips for Successful CPA Firm Partner Retreats
Retreats are not intended to be a walk on the beach. Effective retreats address tough issues. A healthy amount of conflict and disagreement serves as evidence that the group is addressing important, sensitive issues. Firms that adhere to these ...
June 28, 2016
Illinois CPA Society Awards 34 Accounting Scholarships
Each year, The Society and The CPA Endowment Fund provide about $185,000 in financial support and outreach assistance to qualifying students who are working towards becoming CPAs. ICPAS scholarship programs are funded by contributions to the CPA ...
June 28, 2016
2016 Tax Series: 16 Sweet Fringe Benefits
What’s better than a salary increase? For many employees, the addition of an equivalent fringe benefit may be preferable, due to the tax consequences. For example, if an employee is in the 25% federal tax bracket and receives a $10,000 raise, he or ...
June 28, 2016
Financial Execs More Optimistic on Long-Term Growth
This quarter, the top five external risks cited were: 1) oil/commodity prices, 2) U.S. economy pullback, 3) new/burdensome regulation, 4) the upcoming election/political uncertainty in the U.S., and 5) global growth/recession/volatility and capital ...