The Latest

Uncertainty is a factor in most tax planning decisions, but this year it is greater than ever.

Despite a stunning number of CPA firms not having a dedicated technology partner or even formalized IT plans for their practices, many still allocate at least 5-10 percent of their annual budgets on IT spending, according to a recent Accounting Today survey.

Suppose the White House budget director abruptly resigned, with precious little explanation given for his departure?

Alabama

Recently issued proposed regulations on domestic series limited liability companies should help give taxpayers and their advisors a bit more confidence in using series LLCs as a method of dividing a business venture into a variety of units to accomplish a variety of objectives.

COLORADO

Did you hear that a bunch of seventh graders recently discovered a cave on Mars?

In the previous issue, we republished a column from 2008 to help readers who might be confused or even baffled by the massive paradigm shift contained in the recent lease accounting exposure draft issued jointly by the Financial Accounting Standards Board and the International Accounting Standards Board. When implemented, the proposal would capitalize all leases, finally closing down a 35-year-old loophole that has proven to be insanely popular with managers for achieving off-balance-sheet financing. The prior column described why this change is for the best.

Here in the 40%

Elusive information