Practice Management

The Internal Revenue Service has released an application form that will allow small firms to begin applying for certification for tax credits or grants available under the Qualifying Therapeutic Discovery Project Program, created by the Affordable Care Act.

An outside advisory committee recommended that the Internal Revenue Service follow a three-year phase-in approach to implementing a new requirement for tax preparers to electronically file individual tax returns.

The House passed legislation to incentivize community banks to increase their small-business lending.

CPA and business advisory firm Weaver has expanded its service lines to financial institutions via a merger with Houston-based Bank Advisory Resources, a consultant to the community banking sector.

A case decided earlier this week by the South Carolina Supreme Court may have nationwide implications on tax reporting.

Corporations that issued stock options to their executives claimed tax deductions that were collectively $52 billion larger than the expenses shown on their books in 2008, according to newly released data.

Senate Finance Committee Chairman Max Baucus, D-Mont., has scaled back the carried interest and S corporation tax provisions, in addition to several others, after the tax extenders and unemployment legislation hit a speed bump in the Senate.

The upper and lower houses of the Swiss Parliament have ratified a deal between the Swiss and U.S. governments to share information on approximately 4,450 U.S.-based customers of Swiss bank UBS with the U.S. government.

The Senate has approved an amendment to extend the closing deadline for homebuyers who qualified for the First-Time Homebuyer Tax Credit.

IMGCAP(1)]When you think about how to increase your firm's profits, what comes to mind? My guess is that training and learning may not make your short list. Soft skills are even less likely to make the cut. The reality is that preparation precedes profits, and many firms miss out on great earning opportunities because they do not invest enough in training their people the right way.