Searching Content indexed under Accounting and Audit by Michael Gillen ordered by Published Date Descending.
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Don't Miss The FBAR Filing Deadline
Despite the Department of the Treasury's Financial Crimes Enforcement Network publishing final regulations for reporting bank accounts, securities accounts and other financial accounts located in a foreign country on Form TD 90-22.1, Report of Foreign Bank and Financial Accounts, many taxpayers remain confused regarding the filing requirements, including the fast-approaching and accelerated filing deadline.
United States
13 Jun 2013
Businesses And Households Employing Independent Contractors: Remain Aware
Using independent contractors can be risky for many businesses and households, and it remains an age-old concern in general.
United States
9 Dec 2011
Last-Minute Filing Tips For A Shifting Tax Landscape
With the tax filing deadline now only days away (April 18 this year due to Emancipation Day in Washington, D.C.), we thought it would be helpful to share a few last-minute tax filing tips, with a bias twist.
United States
18 Apr 2011
Small Business Jobs Act Contains Breaks for Businesses and Individuals
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the "Act"), aimed at helping small businesses to access credit and capital and create jobs.
United States
15 Nov 2010
Last-Minute 2009 Filing Season Tax Tips
During discussions with lawyers who have engaged our tax, accounting or litigation consulting services in connection with their client matters, more often than not a personal tax question or two is splashed within.
United States
14 Apr 2010
The Role Of Forensic Accountants In Divorce Engagements
It is no surprise that financial issues are among the most contentious in divorce actions. The financial aspects associated with marital disputes and dissolution are often complex and consume most of the effort and attention of the parties.
United States
5 Feb 2010
New Jersey Taxes On The Rise
New Jersey recently enacted legislation which increases individual tax rates, taxes lottery winnings and limits the property tax deduction.
United States
5 Aug 2009
What Lawyers Need To Know About The Codification Of Accounting Standards
Financial statements play an integral role in business as well as a multitude of legal matters, including, but not limited to, bankruptcy, mergers and acquisitions, shareholder disputes, fraud and class action activities.
United States
15 Jul 2009
While Markets Continue To Fall, Fraud Activity Continues To Rise
While the global economy continues to fall, incidences of corporate fraud are on the rise. The current economic instability, coupled with weakened internal controls found in many organizations, both large and small, has created the perfect storm for corporate fraud.
United States
19 Jan 2009
How Long Should I Retain My Tax Records?
As we have noted in prior editions of the Tax Accounting Review, a good time to review your tax record-keeping responsibilities is right after you have filed your tax return. Retaining and storing your income tax records is a crucial final step in fulfilling your tax filing responsibilities.
United States
14 Sep 2007
Highlights of the Pension Protection Act of 2006
The Pension Protection Act of 2006 (the "Act") was signed into law on August 17, 2006. Some commentators have described it as "the most sweeping reform of pension funding rules since 1974, helping to guarantee that companies uphold their pension promises to workers.
United States
20 Dec 2006
Recent Developments in the Florida Intangibles Tax Area
We have not addressed the personal property tax imposed by various Pennsylvania counties since the summer of 2000, when we discussed the case of Annenberg v. Commonwealth of Pennsylvania, but recent developments in Florida, which we have been monitoring, have shown that personal property, or intangibles, tax issues are not unique to Pennsylvania.
United States
14 Jul 2006
The Simplified Employee Pension (SEP), a Roth 401(k) Alternative
As you may be aware, the Job Creation and Worker Assistance Act of 2002 provided changes in simplified employee pension (SEP) plans that made the contribution limits for them equal to the limits for defined contribution plans (profit-sharing plans, 401(k) plans, etc.).
United States
14 Jul 2006
Deciding When to Begin Receiving Social Security Benefits
For many Americans, their monthly Social Security check represents a significant portion of their annual retirement income. According to some studies, even the wealthiest 40% of retirees depend on Social Security for up to a third of their retirement income, on average.
United States
12 Jul 2006
Considering Purchasing a Hybrid Vehicle?
As discussed in our Year-End Tax Planning Guide for 2005, on August 8, 2005, the Energy Tax Incentives Act of 2005 (the "Energy Act") was signed into law.
United States
11 Jul 2006
The Roth 401(k) Offers New and Exciting Opportunities
Roth IRAs have been popular since their introduction in 1998 because the earnings on funds invested in such accounts build up tax free, as opposed to merely tax deferred as in traditional IRAs.
United States
11 Jul 2006
Explaining Medicare Part D Prescription Drug Coverage
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 ("The Act") established a fourth part to the Medicare Program, called Part D, to help seniors pay for the high cost of prescription medications. Part D is set to begin January 1, 2006 and is available to anyone who currently has Part A or Part B. The initial enrollment period began November 15, 2005.
United States
8 Dec 2005
Executives of Public Companies May Be Required to Retain Independent Tax Services for Personal Use
In December 2004, the Public Company Accounting Oversight Board (PCAOB) adopted and approved rules requiring that audit firms DO NOT prepare the tax returns or provide tax planning advice to corporate executives involved in the company financial oversight role.
United States
30 Sep 2005
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