In today’s economy, where financing opportunities are all but gone, and organic growth is difficult to achieve, Private Equity Groups (PEGs) have focused their efforts on add-on acquisitions instead of investing in new platform acquisitions.

On March 18, 2010, President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act, an $18 billion job creation package. The highlights of this bill are as follows. 

Like many states facing budget deficits, California has turned to stronger enforcement of use tax compliance by individuals and businesses that live or operate in the state as a means to generate increased tax revenue.

The nation’s net worth rose 1.3% in the fourth quarter (Q-4) of 2009 according to the Federal Reserve. As a result of this third consecutive quarterly gain, Americans were 11.7% wealthier than when the financial meltdown ended in March 2009.

Many taxpayers may be unaware of Internal Revenue Code Section 475(f), a provision that gives fund managers and other securities traders the opportunity to mark to market stocks or other securities. According to the mark-to-market method of accounting, any security held by an electing trader is treated as sold for its fair market value (FMV) on the last day of the year. The result is that the taxpayer includes in gross income any gains or losses on securities including any unrealized gains or losses that exist at the end of the year. 

The Bureau of Labor Statistics (BLS) reports that in February, for the fifth consecutive month, employmentwas virtually unchanged (-0.3%) despite a blizzard in the East.  Two years of hemorrhaging jobs appears at an end.

On February 26, 2010, the Internal Revenue Service (IRS) unveiled targeted guidance that should provide significant relief for taxpayers required to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).

The Supreme Court recently declined to review a Ninth Circuit holding that a taxpayer could not avoid the Code Sec. 1031 like-kind exchange related-party rule by using a qualified intermediary (QI).

In this era of strict corporate governance, many companies look to work with organizations that have strong internal controls and procedures in place for how they provide vital services to their clients. Having a SAS 70 before your client asks for it shows that you're responsible, reliable, and qualified to handle their business.

Despite an ever-expanding universe of available information, many managers express frustration over the lack of easy access to accurate, timely, and meaningful information.