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Greetings Website Guest! Below is your customized newsletter for May 17, 2007.
The Shortage of Qualified Personnel and What You Can Do About It

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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Inexpensive, But Effective Fraud Prevention

Inexpensive, But Effective Fraud Prevention



Small business firms, which suffer 1,000 times the loss per employee than large companies, can implement three inexpensive and effective fraud prevention techniques to prevent workplace fraud.. Read more...



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Profits To Be Lost Under New Accounting Rules

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?

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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Last week's statement
by the Federal Reserve that it is concerned "inflation will fail to moderate" may have you wondering about inflation-protected investments. Click "Full Article" to learn more about two types: U.S. Treasury Inflation Protected Securities (TIPS) and Series I U.S. Savings Bonds, as well as the tax implications when investing in them.
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When estate tax applies, it can take a large chunk out of an estate. And if your spouse is not an American citizen, the tax bite will be even worse. Some elements of tax law that allow citizens to avoid estate tax are not available to non-citizens, even if they are residents of the United States. Learn how citizenship status affects a taxable estate by reading the "Full Article."
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You may want to give your best customers
a generous gift to thank them for their patronage. But the tax law only allows a measly $25 annual deduction for each recipient. Here's a maneuver to increase your write-off and treat your clients to a special gift.
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When you invest in a startup business, an S corporation is generally a good choice.
Reason: You'll be able to insulate your losses against the IRS. Click "Full Article" for additional details.
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Market rises as data eases economic fears
news.yahoo.com - Fri, 25 Jul 2008 21:44:28 GMT

Wall Street Closes Higher Following Upbeat Economic Data
rttnews.com - Fri, 25 Jul 2008 21:42:07 GMT

U.S. Stocks Rise As Data Lifts Gloom A Bit
javno.com - Fri, 25 Jul 2008 21:42:02 GMT

UAE tops in providing luxury to expatriates
gulfnews.com - Fri, 25 Jul 2008 21:41:31 GMT

What's the Point, Rediff?
fool.com - Fri, 25 Jul 2008 21:36:02 GMT


 
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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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