June 30, 2011: The federal unemployment tax (FUTA) surtax is scheduled to expire June 30, 2011. This will result in a FUTA tax rate decrease from 6.2% to 6.0% effective July 1, 2011. March 18, 2010: An $18 billion job creation package, the Hiring Incentives to Restore Employment (HIRE) Act (H.R. 2847), is headed to the White House for President Obama's expected signature. The bill contains two tax incentives for hiring unemployed workers and it also extends the current Section 179 expensing election. March 17, 2009: In a weak economy, an effective collection process may mean the difference between financial solvency and serious trouble. If a company lets overdue bills slide, its customers may start to assume they can ignore the due dates - with disastrous implications for the company's cash flow and profitability.
February 3, 2009: Cycle Counting to Improve Your Bottom Line. An inventory count is an annual rite for many manufacturers, but others have replaced that ritual with an ongoing cycle count - and improved operations at the same time.
September 2008: Grantor Retained Annuity Trusts (GRATs) and Intentional Defective Grantor Trusts (IDGTs) are two vehicles used frequently in implementing a family business succession plan. A series of articles examines the benefits of GRATs and IDGTs and the difference between the two types of trusts.
July 8, 2008: In their first major joint undertaking, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) collaborated to create merger financial reporting standards applicable not only to the United States, but worldwide.
June 24, 2008: When the Financial Accounting Standards Board (FASB) delayed implementation of FASB Interpretation No. 48 (FIN 48) for nonpublic companies, it was issuing a reprieve, not a pardon. And now time is just about up. This article details how FIN 48 affects businesses.
March 4, 2008: Michigan Defines "Actively Solicits for MBT Tax. The Michigan Department of Revenue has recently defined "actively solicits". A comprehensive tax bill was signed by Michigan Governor Jennifer Granholm in July enacting a new tax on business income and modified gross receipts effective January 1, 2008. The Michigan business tax (MBT) replaces the Single Business Tax (SBT) that is repealed on December 31, 2007. August 7, 2007: In 2006, policy makers for auditors of non-public companies set New Audit Risk Standards that introduced a comprehensive audit methodology that differs significantly from the way audits have been performed for the past three decades.
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