Accounting Today

Accounting Newswire

• People News: May 3. 2013

  May 3, 2013

  New hires, promotions and more…

• IRS Adjusts Deduction Limits for Health Savings Accounts

  May 3, 2013

  The Internal Revenue Service has changed the inflation-adjusted annual limitation for health savings accounts for next year.

• Billionaire Kaiser Sails through Charity Loophole

  May 3, 2013

  When Oklahoma energy billionaire George Kaiser opened the Northeast Gateway liquid natural gas terminal in 2008, the floating depot’s first delivery was shipped on the Excellence, a 909-foot supertanker that holds 138,000 cubic meters of LNG—enough gas to meet more than 4 percent of daily U.S. demand.

• Employers Added 165,000 Jobs in April

  May 3, 2013

  The unemployment rate fell a tenth of a percentage point to 7.5 percent, the lowest rate in five years, as employers added 165,000 jobs in April, the U.S. Bureau of Labor Statistics reported Friday, sending the Dow Jones Industrial Index above 15,000 points.

• SS&G Appoints Littman as CEO

  May 3, 2013

  After a 16-month leadership transition process, Top 100 Firm SS&G Inc., selected Robert Littman to serve as chief executive officer.

• CliftonLarsonAllen Acquires Nonprofit Financial Solutions

  May 3, 2013

  Top 100 Firm CliftonLarsonAllen has acquired the Kirklin, Ind.-based firm Nonprofit Financial Solutions.

• FASB to Ease in New Revenue Recognition Standards

  May 2, 2013

  The Securities and Exchange Commission is encouraging the Financial Accounting Standards Board to give accountants a long transition period to adjust to the upcoming revenue recognition standards.

• Rand Paul Blamed for Blocking FATCA

  May 2, 2013

  The research and advocacy organization Global Financial Integrity is urging Sen. Rand Paul, R-Ky., to allow the Senate to vote on agreements negotiated by the Treasury Department with Switzerland, Luxembourg, Hungary and other countries to implement the Foreign Account Tax Compliance Act, or FATCA, in an effort to ferret out tax evaders.

• Viewabill Releases Billing Insights App

  May 2, 2013

  Viewabill, a cloud-based technology that provides real-time access and insights to service providers’ billing, activities and time entries, is actively targeting the accounting industry.

• Billionaire Sumner Redstone Challenges IRS Tax Claim on Gift Dating Back to 1972

  May 2, 2013

  In 1972, President Richard Nixon cruised to re-election. “The Waltons” premiered on CBS. And Sumner Redstone, who wasn’t yet a global media mogul, made a taxable gift to his children and failed to file a return.

• Mahoney Sabol & Co. Merges in Robert L. Howard Practice

  May 2, 2013

  Mahoney Sabol & Co. LLP has merged in the practice of Robert L. Howard, Jr. The merger will give Mahoney Sabol five professional staff specializing in municipal, quasi-governmental and not-for-profit specialty practice areas.

• Skoda Minotti Technology Partners Merges with DataServ

  May 2, 2013

  Skoda Minotti Technology Partners has merged with Westlake, Ohio-based DataServ. Deal terms were undisclosed.

• Retirement Plans Rebound at Small Businesses

  May 2, 2013

  Balances in small business retirement plans have increased an average of 20 percent between 2007 and 2012 in the aftermath of the recession.

• Intuit Sees Small Business Compensation and Revenues Dropping

  May 1, 2013

  Small business employment in the U.S. increased in April, according to figures from Intuit, while average compensation and the hours worked decreased.

• Mortgage Interest Deduction Distributed Unequally across States

  May 1, 2013

  The rate at which the mortgage interest deduction is claimed and the average amount deducted varies widely across states and within states themselves, according to a new report.

• SEC Prolongs Comment Period on Nasdaq’s Audit Function Rule

  May 1, 2013

  The Securities and Exchange Commission has granted 45 more days to comment on the Nasdaq proposed internal audit function rule.

• ADP Finds Private Sector Hiring Slowed in April with 119,000 Jobs Added

  May 1, 2013

  Private sector employers added only 119,000 jobs in April, according to payroll giant ADP, indicating a slowdown in employment perhaps caused by the increase in payroll taxes and effects from the budget sequester in Washington.

• Accounting Today Accepting AUM Submissions

  May 1, 2013

  Accounting Today is in the midst of collecting submissions for its 2013 ranking of the Top Firms by AUM.

• WebsterRogers Merges in Charles Talbert's CPA Practice

  May 1, 2013

  WebsterRogers LLP has merged the practice of Charles Talbert III, CPA into the firm. The deal went into effect May 1, 2013 and Talbert joined WebsterRogers as a partner.

• CCH SFS Partners with eFileCabinet on Portal

  May 1, 2013

  CCH Small Firm Services and eFileCabinet are teaming up on offering PortalSafe, an integrated portal and file sharing service aimed at tax and accounting professionals.