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Greetings Website Guest! Below is your customized newsletter for May 17, 2007.
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The Shortage of Qualified Personnel and What You
Can Do About It
By Glenn H. Carniello, CPA, CCIFP
Partner, Singer Lewak Greenbaum & Goldstein LLP
Times have generally been good for the construction industry in recent years. With perhaps the exception of approximately the eighteen months following 9/11, contractors have enjoyed profitability and backlogs that are very healthy by historical standards. Read more...
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Profits To Be Lost Under New Accounting Rules
Accounting-rule makers are planning to unveil a draft plan to rework financial statements, the data that millions of investors use every day when deciding whether to buy or sell stocks, bonds and other financial instruments, the Wall Street Journal reports.
The goal of the accounting-rule makers is to better reflect how businesses are actually run and divert attention from the one number. "I know the world likes single bottom-line numbers and all of that, but complicated businesses are hard to translate into just one number," says Robert Herz, chairman of the Financial Accounting Standards Board, the U.S. rule-making body that is one of several groups working on the changes. Read more...
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Who Does the IRS Audit?
Several Reasons Why it Pays to Incorporate and Why Sole Proprietors Endure the Highest Chance of Audit
By Eric Lane Senior Manager, SLGG
With tax time comes the inevitable audits by the IRS. What most companies don't realize is that the IRS has varying audit rates for each business structure as evidenced in the following table. This article will help you understand why the IRS chooses to audit targeted business structures and what can be done to give your firm the best tax advantage. Read more...
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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