According to police, Jadyn Sessing, of Farmington, Minn., had a bad, bad gambling problem. Authorities say that Sessing, an assistant day manager at Cooperative Plating, fed his addiction by stealing small amounts of silver from his employer over the past three years. Although the plant noticed the shortages right away,
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Supreme Court to Hear Kentucky Muni Bond Case
The nation’s highest court agreed to hear a case that could decide whether the vast majority of states may continue giving discriminatory income-tax preference to in-state municipal bonds. In Davis v. Department of Revenue, 193 S.W.3d 557 (2006), the Kentucky Court of Appeals agreed with the taxpayers’ argument that Kentucky’s
CPA Executives Predict HR Headaches
Staff-related issues will account for four of the top five challenges facing organizations in upcoming months, according to a survey of more than 1,350 CPA decision makers. Ninety-five percent of respondents saw employee and benefit costs as a challenge of some type, with 25% classifying it as a major challenge.
Focus An Excel Presentation With a Movable Electronic Mask
Probably the most effective way is to create your presentation as a PowerPoint slideshow. But that takes lots of extra work, and if there’s any danger of the data changing, you have to link the spreadsheet to the PowerPoint file. One of my colleagues, Jon Booker, a CPA and professor
Make Track Changes Or Comments Anonymous
» Key to Instructions To help readers follow the instructions in this article, we used two different typefaces: Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type shows the names of files and the names of commands and instructions that users should type into
Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions?
by Z. Christopher Mercer, ASA, CFA Peabody Publishing LP, 2007, 324 pp. Predicting the future is practically impossible. For businesses, that uncertainty makes planning crucial. Z. Christopher Mercer offers a granular look at one method of applying present tense solutions to future decisions and transitions. Mercer examines the world of
Korb Reassures on FIN 48
The IRS recently released an internal memo written in March 2007 by Chief Counsel Donald Korb stating that documents prepared pursuant to FASB Interpretation no. 48, Accounting for Uncertainty in Income Taxes, are considered tax-accrual workpapers and thus are subject to the IRS’s “policy of restraint.” The IRS has a
Transitional Relief for Changes to Preparer Penalty
Transitional relief has been granted through the end of the year for changes to the tax return preparer penalty under IRC § 6694(a) that were enacted as part of the Small Business and Work Opportunity Tax Act of 2007. The changes originally were to take effect May 26. The act
Workshop Focuses on Future
Workshop Focuses on Future T he Institute’s Minority Initiatives Committee hosted the 13th annual AICPA Accounting Scholars Leadership Workshop in June in Peachtree City, Ga. About 90 accounting students from across the country attended the workshop, which had the theme “CPAs: Leaders in Action.” The committee was established in 1969
Smart Stops on the Web
HUMAN RESOURCES EASY DOES IT www.simplyhired.com Many of us may not consider a job search “a simple yet effective, enjoyable journey,” but that’s exactly what the creators of this vertical employment search engine strive to provide. The site features millions of positions fed from thousands of
For Peat’s Sake
Just read the May issue. I can’t believe that it’s been so long that Peat Marwick morphed into KPMG that your editors missed the glitch in “ The Last Word” (May 07, page 116). How many younger readers might wonder: Who is this “Pete” guy that Mr. Taylor worked with?
Boy, Does Word Ever Calculate! Let Me Count The Ways
For multiplication, use the * (2*4) For division, use the / (4/2) For exponents, use the ^ (4^2) For percentages, use % (50*12%) You can also use parentheses, such as (1 2 3) / 2. If you put spaces between the 1, 2, 3, Word will add them (1+2+3) and
Stakes Raised on Oversized Refund Claims
Taxpayers who receive “excessive” refunds can now be tagged with a 20% penalty on the overpayment. The provision is one of several revenue enhancers included in the recently passed Small Business and Work Opportunity Tax Act of 2007. The change to IRC § 6676(a) assesses the penalty on any claim
Small Business, Big Life: Five Steps to Creating a Great Life With Your Own Small Business
by Louis Barajas, MBA, CFP Thomas Nelson Inc., 2007, 199 pp. As a 13-year-old, Louis Barajas was an integral part of his father’s small business, doing the taxes and bookkeeping and translating for his Spanish-speaking father. He understands the hard work, dedication and courage required to start and maintain a
Technical Education a Must for CAEs
Chief audit executives reported relatively high competency levels in the technical areas important to internal audit but said there’s still room for improvement. The top responsibilities needing improvement were: “Need to Improve” Rank General Technical Knowledge Competency 1 COSO Enterprise Risk Management Framework 3.2 2 Enterprise Risk Management 3.6 3
Sandra Abalos, CPA
Managing partner, Abalos & Associates P.C., Phoenix I have been a cyclist for nine years. I had one of my clients, a plumbing contractor, put a shower in my office building so that I could ride my bike to work. The contractors did a 150-mile bike ride
Securities Basis Reporting Aired
Requiring securities brokers to report basis on their customers’ transactions has received renewed attention in Congress as a way to help bridge the “tax gap.” Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking minority member Chuck Grassley, R-Iowa, presented draft legislation in late May. Bills also have been introduced
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
