Tag Archives: Surgent Tax & Accounting Blog
With the ever-growing online software systems for finances, things are getting easier for customers and more difficult for the employees trying to reach them. Are financial advisors at risk with the newest advising software? Financial advisors are often out of many people’s price range, but this new online application is free – applicable to […]
2015 has been a great year for female executives in the accounting industry, as two of the Big Four accounting firms have named female CEOs. KPMG announced its first-ever female CEO, Lynne Doughtie, on April 21. This might seem like a big milestone for the industry, but statistics have shown an increase in women in […]
During the 2012 presidential election, the Obama and Romney campaigns received over $4 billion from individual donations, political parties, action committees and congressional candidates. The total amount comes to over $4 billion, which is less than the 2012 GDP of Sweden, Austria, Chile and other small countries. Of that $4 billion, almost $602 million […]
In a survey by AICPA, 25% of Americans say they have been victims of cyber attacks. This number has drastically increased since last year, and consumers are getting increasingly worried. The attacks are enough to change 82% of consumers’ spending habits to cash or check. Forty percent even noted cutting online spending to avoid the […]
As you may have heard, last week FASB issued a proposed Accounting Standards Update that would defer the effective date of its new Revenue Recognition standard by one year. Just because FASB has given more time, it does not mean you should delay investigating the impact it could have. The delay was provided to give […]
Think you don’t need to worry about going concern disclosures because the new FASB rules aren’t in effect yet? Well, we’re encouraging you to think again! Even for those who aren’t implementing ASU 2014-15 early, it is still relevant to discuss going concern disclosures now under existing rules. Going concern is an area […]
Smaller, non-public entities now have that option. Through AICPA’s Financial Reporting Framework for Small and Medium Sized Entities (FRF for SMEs), small entities have a cost beneficial alternative. This special purpose framework will help dodge the ever-changing rules and regulations set by the GAAP. The FRF for SMEs became available in 2013 so the acceptance […]
Senior- level interviews are critical for candidates to demonstrate their skills and abilities. However, carrying out this task without seeming conceited can be challenging for executives with several years of experience. According to Neil McNulty from McNulty Management Group, senior- level candidates often walk into an interview expecting the company to recruit […]
Written by Guy Schmitz J.D., LL.M. Code §183(a) generally disallows any deduction attributable to an activity “not engaged in for profit.” The section prevents those indulging in a hobby from offsetting their hobby losses against taxable income from other sources. See a recent case, Henry J. Metz, et ux. v. Commissioner, TC Memo 2015-54, which […]
Intuit, a company that makes finance software such as QuickBooks and TurboTax, made tax season a little more fun for accountants in Rhode Island. On March 30, Intuit announced a new product for the hard-working Rhode Island accountants: beer. However, this isn’t just any beer; it’s beer specifically for accountants! Intuit wanted to take out […]
