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Hi, Friend. Here are your Articles for January 23, 2008.
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Blain Appointed to Harrisburg Regional Chamber Board

McKonly & Asbury Principal, David B. Blain, CPA / ABV, CVA, was recently appointed to the Board of Directors of the Harrisburg Regional Chamber of Commerce.  The mission of the Harrisburg Regional Chamber & CREDC is to be a catalyst for policy change, for job creation, and for business growth in Cumberland, Dauphin, and Perry Counties that enhances the quality of life in our region.  Blain brings a unique blend of talents to the board as both a CPA and an elected official.  Read on for more details. 


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PA Act 119 Means No Settlement Notices for Every Tax Report

Pennsylvania has revised the process of reviewing and making adjustments to corporate tax reports filed by the taxpayer.  Previously, Pennsylvania performed a desk audit of all tax reports filed and issued a settlement notice that detailed the report as originally filed and any adjustments made by Pennsylvania when issuing the settlement notice. Read on for more details.


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Providing Outsourcing? SAS 70 as a Competitive Advantage

In today's business environment, it is quite common for companies to use a third party to assist them with basic business processes.  These processes may include payroll processing, transaction processing, or information technology support.  The utilization of a third party to perform a business process is most commonly known as outsourcing.  Companies may outsource a business process for a variety of reasons.  These reasons could include greater cost-effectiveness, difficulty finding and retaining key talent, or outsourcing of an important but non-core process. While engaging a third party to perform services may make economical and procedural sense, it does not dismiss companies from ensuring that the third party has the appropriate control environment in place within its organization.  Read on for more details on how a company can provide assurances over internal controls.



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Once again, Social Security
is in the national spotlight. This January, the first Baby Boomers turn 62, making them eligible to draw benefits. That brings up a lot of questions for those about to retire soon and those still years away. Among other things, people want to know how much they can expect, when they can quit working, and perhaps most important... will the Baby Boomers bankrupt Social Security? Read on to learn more.
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XBRL is its name
and companies, government agencies and accountants are pushing it as the way to save time and money, boost reliability and transparency and quickly and accurately compile, analyze and share data. Click “Full Article” to see how this computer language is changing the face of business and finance and how it can benefit your enterprise.


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Obtaining a casualty loss
on personal property can be tough because of the limitations imposed by law. But if your personal automobile is involved in an accident, there may be a way to salvage a business tax deduction. Click "Full Article" for the details.
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, 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.

The drafter of the tax articles in this e-newsletter did not intend nor write the advice to be used to avoid any penalty imposed by a taxing authority, nor may any user/recipient of this document use this document’s written tax advice for that purpose. This document’s tax advice was written specifically to support the promotion or marketing of the transaction/matter addressed by the written tax advice. Therefore, any user/recipient of this document should seek an independent tax professional’s advice regarding the user/recipient’s particular circumstances.

 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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