Due Diligence for Add-On Acquisitions3/19/2010
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.
Read More Tax Alert: President Signs the Hiring Incentives to Restore Employment (HIRE) Act3/19/2010
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.
Read More Tax Alert: California Looks to Boost Sales Tax Revenue With “Use Tax” Compliance Enforcement3/16/2010
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.
Read More Economic Notes: Two Out of Three Ain't Bad....3/15/2010
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.
Read More Tax Alert: The 475(f) Mark-to-Market Election For Traders Can Yield Significant Advantages3/11/2010
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.
Read More Economic Notes: A Positive Jobs Report…Finally3/8/2010
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.
Read More Tax Alert: IRS Unveils FBAR Guidance3/3/2010
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).
Read More Tax Alert: Supreme Court Declines Review of Like-Kind Exchange Related-Party Rule3/3/2010
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).
Read More Have You Asked Your Auditor About SAS 70?3/2/2010
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.
Read More Taking Data from Metrics to Analytics9/15/2009
Despite an ever-expanding universe of available information, many managers express frustration over the lack of easy access to accurate, timely, and meaningful information.
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