Archive for the ‘Blog’ Category

The Top 3 Big IT Trends CFOs and Controllers should know about for 2012

16/04/12 9:35 pm | Comments (0) | Posted By:

If you have a CIO or IT manager who is in the know, you may have already had discussions about the following items. If you manage the IT functions yourself, then read carefully so you don’t miss the boat!

  • The consumerization of IT. No surprise here, consumer technologies like the iPhone and the Droid, tablets, etc. are creeping into the work...

Credit Scores Are Changing, Beware:

16/04/12 9:33 pm | Comments (1) | Posted By:

According to the NY Times, credit scores are getting a facelift. A company called CoreLogic has introduced a new type of credit report which contains additional consumer data than what the traditional credit bureaus (TransUnion, Experian, Equifax) show. Have you missed a rental payment that is now in collections or are you behind on HOA dues...

The Carried Interest Rule Needs to be Abolished

16/04/12 9:31 pm | Comments (0) | Posted By:

There has been much debate recently over Mitt Romney and his paying only 14% of his gross income in taxes in 2010 and still only 17.5% after itemized deductions (see his tax return at http://www.washingtonpost.com/wp-srv/politics/documents/romney-2010-tax-return.html). This is the same percentage of taxes that a single person making only $60,000...

The “Tax Gap”

16/04/12 9:29 pm | Comments (0) | Posted By:

Did you ever wonder how many people do not actually pay their taxes under our “voluntary compliance” system here in the United States? Well, it turns out that the latest IRS estimates show about 15% of the total tax liability owed for 2006 was actually collected. This rate is virtually unchanged from the 2001 compliance rate and amounts to $450...

Employee or Independent Contractor?

16/04/12 9:27 pm | Comments (1) | Posted By:

Washington has recently renewed its interest in worker classification issues, i.e. employee v. independent contractor. In September the IRS and Department of Labor signed a memorandum of understanding to share information regarding worker “misclassification.” The same month the IRS established a new voluntary classification settlement program th...

Protecting Yourself from Identify Theft

16/04/12 9:25 pm | Comments (0) | Posted By:

Let’s assume you are a law-abiding taxpayer but do not get around to filing your return until later in the filing season. Suddenly you are informed that two returns have been filed using the same social security number. Yours! Guess what? Your identity has been stolen.

To avoid having your identity heisted, there are a number of things you shou...