Friday, December 30, 2011

When are expenses credited?

While general ledger expense accounts are typically debited
and have debit balances, there are times when the expense accounts
are credited. Some instances when general ledger expense accounts
are credited include: the end-of-year closing entries the reversing
entry for a previous accrual adjusting entry involving an expense
an adjusting entry to defer part of a

Where can I find the amount of income taxes paid by a corporation?

You can find the amount of income taxes paid by a corporation
by reading its statement of cash flows and its notes to the
financial statements. US GAAP requires corporations to report the
amount of income taxes paid. The AICPAs Accounting Trend and
Techniques indicates that approximately half of the 500 large
corporations that it

What is the difference between the direct method and the indirect method for the statement of cash flows?

The main difference between the direct method and the
indirect method involves the cash flows from operating activities,
the first section of the statement of cash flows. (There is no
difference in the cash flows reported in the investing and
financing activities sections.) Under the direct method, the cash
flows from operating activities will include

Most popular accounting questions from 2011

Here are the 20 most popular posts from the Accounting Coach
Blog during 2011. New questions will be answered starting January
2012. Why does LIFO usually produce a lower gross profit than FIFO?
What is depreciation? Why is interest expense a nonoperating
expense? When do you put parentheses ( ) around a number? What
are

Summary Estimates for Multinational Companies, 2009

Worldwide employment by U.S. multinational companies (MNCs)
decreased 4.1 percent in 2009, to 31.3 million workers, with
decreases in both the United States and abroad. Employment in the
United States by U.S. parent companies decreased 5.3 percent, to
21.1 million workers, which mirrored the percent change in total
private-industry employment in the United States. The employment by
U.S. parents accounted for almost one-fifth of total U.S.
employment in private industries. Abroad, employment by the
majority-owned foreign affiliates of U.S. MNCs decreased 1.5
percent, to 10.3 million workers. Full Text

Gross Domestic Product for American Samoa

UTULEI, AMERICAN SAMOA (May 31, 2011) -- The estimates for
American Samoa show that real GDP -- GDP adjusted to remove price
changes -- decreased 4.7 percent in 2009 after decreasing 2.1
percent in 2008 (see Table 3). For comparison, real GDP for the
U.S. (excluding the territories) decreased 2.6 percent in 2009
after remaining unchanged in 2008. Full Text

U.S. International Investment Position at Yearend 2010

The U.S. net international investment position at yearend
2010 was -$2,471.0 billion (preliminary), as the value of foreign
investments in the United States continued to exceed the value of
U.S. investments abroad (table 1). At yearend 2009, the U.S. net
international investment position was -$2,396.4 billion (revised).
Full Text

Gross Domestic Product for the Commonwealth of the Northern Mariana Islands

The estimates for the CNMI show that real GDP -- GDP adjusted
to remove price changes -- decreased 19.8 percent in 2009 after
decreasing 12.1 percent in 2008 (see Table 3). For comparison, real
GDP for the U.S. (excluding the territories) decreased 2.6 percent
in 2009 after remaining unchanged in 2008. The estimates of real
GDP for 2008 and 2009 reflected continued declines in exports and
in consumer spending. Full Text

Gross Domestic Product for Guam

The estimates for Guam show that real GDP -- GDP adjusted to
remove price changes -- increased 1.7 percent in 2009 after
increasing 0.5 percent in 2008 (see Table 3). For comparison, real
GDP for the U.S. (excluding the territories) decreased 2.6 percent
in 2009 after remaining unchanged in 2008. Full Text

State Personal Income, Third Quarter 2011

State personal income growth slowed to 0.1 percent, on
average, in the third quarter of 2011. Growth rates ranged from
-0.4 percent in West Virginia to 0.6 percent in Washington State.
Personal income fell or was unchanged in twenty states and grew 0.2
percent in the other thirty. Full Text

Personal Income and Outlays, November 2011

Personal income increased $8.5 billion, or 0.1 percent, and
disposable personal income (DPI) decreased $5.0 billion, or less
than 0.1 percent, in November, according to the Bureau of Economic
Analysis. Personal consumption expenditures (PCE) increased $13.1
billion, or 0.1 percent in November. In October, personal income
increased $47.2 billion, or 0.4 percent, DPI increased $27.2
billion, or 0.2 percent, and PCE increased $11.3 billion, or 0.1
percent, based on revised estimates. Full Text

Dec 19, My sister dies when I was 17 months

I was the youngest of 4. My parents were in a terrible car
accident just after I was born. My youngest sister, who was 4 at
the time became Mother. She

Dec 19, My sister dies when I was 17 months

I was the youngest of 4. My parents were in a terrible car
accident just after I was born. My youngest sister, who was 4 at
the time became Mother. She

Catholicism is the One True Faith. Period.

I always have the most frustrating conversations about
religion with my close friend, who shall forever be referred to
here as The Non-Catholic. The Non-Catholic I have tried without
success to date on several occasions. In every possible way we are
compatible except for matters of faith and religion. It is for that
reason we remain such close friends, and nothing more. Sometimes
love can not conquer all, which is why when asked I do not
recommend people start romantic relationships with those who dont
hold their same beliefs. There will come a time during the course
of the relationship where someone must make a compromise,
especially if children are involved, and Catholicism is just one of
those things I hold above compromise.

Have you seen that video of Orthodox priests brawling in the Church of the Nativity? It's sad and disturbing, but it's not surprising...

One of the more surprising, and personally saddest things I
have encountered in my trips to the Holy Land, is the encounter
with Orthodox clergy. While I had been trained to expect tensions
between Jews and Arabs, my experience involving the Orthodox clergy
was actually the most tense and shocking. It also surprised me
since, speaking for myself, I have always had great admiration for
the beautiful liturgies of the Orthodox. And, while I know little
of the internal realities of those Churches, I have always hoped
for reunion. My experiences in the Holy Land showed me very clearly
how difficult and unlikely such a reunion may be. A few personal
stories.

What did the Pope's brother give him for Christmas this year? The same thing he gives him every year: A pocket planner...

Msgr. Georg Ratzinger has joined his brother, Pope Benedict
XVI, for a Christmas celebration in Rome. The elder Ratzinger
reveals that he annually brings his brother the same small gift: a
pocket planner. They enjoy eating German Christmas cookies and a
few other family traditions--"just old mens things," Msgr.
Ratzinger reports. Most of all, they enjoy fine music.

You should be paying more attention to Clinton's speech on gay rights

An address by Secretary of State Hillary Clintons on gay
rights as a priority of U.S. policy deserves far more attention
than its gotten up to now. As a statement of the views of the Obama
administration, Clintons remarks were a remarkably candid and
remarkably chilling exposition of official determination to make
the world safe for LGBT at home as well as abroad.

Top 10 things I've learned about sacred music

Ten years ago, I knew next to nothing about Catholic music. I
knew that something was not right in the parish music program. I
had some sense that the fix for the problem was somewhere in our
history and tradition, somewhere in some dusty books somewhere, and
the answer surely had something to do with preconciliar practice. I
intuited this just because the Second Vatican Council represented
something like a gigantic shift, and older people reinforced this
to me with harrowing stories of living through the turbulent
times.

Saying Yes to Life

He will have the most amazing set of lungs. Paul Stefan James
lived for only forty-two minutes with a heartbeat, but never taking
a breath. It seemed like a cruel coincidence that his mothers
Chicken Soup for a Mothers Soul calendar had those words to offer
on his birth date. But within about a human gestational period, a
maternity home would open in his name, and the first baby born to a
mother housed there arrived a year after Pauls birthday. This is
his lungs, said Pauls father, Randy James, standing in the hearth
of one of the four maternity homes run by the Paul Stefan
Foundation in the state of Virginia. And it is amazing.

As Americans celebrate Christmas in security and safety, Christians around the world have become most persecuted followers of any religion

This hatred and bigotry even has a title: Christophobia. I
recently had the honor of addressing the convention of the
Anti-Defamation League here in New York. The part of my speech that
got the loudest and most sustained applause was, Jews and Catholics
need to be even more closely united today, for, as we speak,
somewhere some innocent Jew or Catholic is in the crosshairs of the
rifle scope of a fanatic who hates him just because of his
faith.

If you like nativity scenes, visit Poland during the Christmas season...

The szopka is a traditional Polish folk art that has its
origins in the Middle Ages. The tradition is a rich and colorful
one, having evolved over the ages. The szopki depict the Wawel
Cathedral, which is a part of Krakows Wawel Castle with a Nativity
scene set inside its doors. Some of the models are as small as 6
inches while others are around 6 feet high.

About negative judgments for annulments

A reader wrote asking for help over some annulment
difficulties. These are not great questions to work on through the
internet. But, this is probably a common enough problem that we
could look at it for a bit and offer some points. To that end, I
wanted to engage the help of a good canonist whom I trust who has
also exhibited a sound pastoral sense. Here is his answer when I
passed the email along for his opinions.

Gods igloo: Germans build Catholic church made of ice

A church built entirely of ice and snow has opened in Bavaria
a century after villagers first built a snow church in an act of
protest. The church at Mitterfirmiansreut, near the Czech border,
is more than 65 feet in length and boasts a tower. Its made up of
some 49,000 cubic feet of snow. The structure was bathed in blue
light as it opened Wednesday evening with a blessing from Dean
Kajetan Steinbeisser.

Dec 19, Seasonal depression? just grief and sadness?

Last year, dec 23 my father became ill and went into the
hospital. he never recovered and died in march. the day we burried
him, my wonderful mother

The Day Nestorius Rocked the Church and an Empire

The mother of the messiah has been called many things in the
last 2000 years the Virgin Mary, Our Lady, and the Blessed Mother.
But call her the Mother of God and youll see some Christians
squirm. This is nothing new. One day in the early fifth century, a
priest preached a stirring sermon in the presence of the patriarch
of Constantinople. His subject was the holy mother of Jesus. The
preacher continually referred to Mary as the Theotokos meaning
God-bearer or mother of God. This was no innovation Christians had
invoked Mary under this title for at least two hundred years.
Nevertheless, at the close of the sermon, the patriarch ascended
the steps of the pulpit to correct the preacher. We should call
Mary the Mother of Christ, said Patriarch Nestorius, not the Mother
of God. She was the mother of his human nature, not the mother of
his divinity.

The TWENTY-PLUS Days of Christmas?

This year we get an extra four-plus days of celebrating
compared to what they had in the Middle Ages, and some years in
some placeswhere Christmas is 20 days and an evening longwe get an
extra eight-plus days. Aint progress wonderful? What do you
think?

Eyewitnesses describe horror of Nigeria church attack

The bomb exploded as Esther Ibu walked out of the church, her
five-month-old son in her arms, the power of the blast throwing her
and the boy to the ground and leaving death all around her. "Before
I knew it, I started seeing dead bodies, people burning into
ashes," the woman in her 30s said, sobbing as she sat in a
wheelchair at a hospital in the capital holding her son and waiting
to be x-rayed, her right leg bandaged.

The Weakness of Tyranny

Blessed John Paul II loved the Christmas season. Guests in
the papal apartment during his pontificate found the seasonal
decorations up early in Advent; and, following Polish custom, they
stayed up until Feb. 2, the feast of the Presentation of the Lord.
The Christmas meal was traditionally Polish. Every year, John Paul
would call his lay friends in Cracow, all assembled in one
apartment, and they would sing Polish carols together for hours,
over the phone.

History shows contributions of Catholic Church to Western civilization

About the least fashionable thing one can do these days is
utter a kind word about the Catholic Church. The idea that the
church has been an obstacle to human progress has been elevated to
the level of something everybody thinks he knows. But to the
contrary, it is to the Catholic Church more than to any other
institution that we owe so many of the treasures of Western
civilization. Knowingly or not, scholars operated for two centuries
under an Enlightenment prejudice that assumes all progress to come
from religious skeptics, and that whatever the church touches is
backward, superstitious, even barbaric.

On the night before his martyrdom, 21-year-old Bl. Bartolome Blanco Marquez wrote this love letter to his girlfriend...

A 21-year-old layman from Spain, Blessed Bartolome Blanco
Marquez, was beatified by Pope Benedict XVI in 2007 as one of
hundreds of martyrs during the persecution of the Catholic Church
during the Spanish Civil War. Here is part of his story, and the
love letter he wrote to his girlfriend.

You Say You Want a Resolution?

You know why January 1 is a holiday, right? It was instituted
to commemorate the deification of Julius Caesar. Now, far be it
from me to suggest that this years presidential candidates should
honor the memory of our ancient Roman forebears by thinking of the
good of the Republic and then, I dont know, stabbing each other to
death. I do have some advice for them, though. Im offering
ready-made New Years resolutions for the folks who oh, I can hardly
bear to make my sad, disbelieving fingers type these wordsmight be
our next president:

Daily Telegraph: "Hundreds more" Anglicans soon to join Catholic ordinariate in England

At least 20 clergy and several hundred of their parishioners
are already lined up to join the Ordinariate, the new structure set
up by the Pope a year ago that allows them to remain some of their
Anglican heritage while entering into full communion with the Holy
See. But many more members of the Anglo-Catholic wing of the Church
of England are likely to defect following a critical meeting of its
governing body, the General Synod, if traditionalists who cannot
accept the ordination of women are denied special provision.

Fr. Robert Barron: "Why I loved to listen to Christopher Hitchens"

Video commentary from YouTube.

Seven 2011 Events That Will Change the Churchs Story in America

Tim Drake and others have noted the big influx of religious
vocations sparked by Pope John Paul IIs Denver World Youth Day. At
Benedictine College, at least two leading monks trace their
vocations to that 1993 event. But apart from the event itself,
Denver marked a metanoia for Americas Church. That was when we
realized the faith could be serious and energetic, and that it
wasnt just the bastion of old age. Ever since, Americans have been
organizing pilgrimages to ship young young people to World Youth
Days around the world.

And now, the fun part...

Just to be clear: much as that shot is indeed from the
neighborhood, it is not the Home Office.... Still, we're not
terribly off by much. Again, gang, hope you and yours are still
having a beautiful, joyous and Merry Christmas, with all its
blessings, peace and good stuff. As downtime seems to be on a Fire
Sale these days -- things already blipping the wires, all set to go
up in the very first days (even hours) of 2012 -- this scribe is
taking a very needed breather while it's still possible and,
admittedly, finally hitting the wall from this most intense of
years.

Every year for 25 years, a father recorded his children coming down the stairs for Christmas. Here's the result...

Every year, our dad would tape us coming down the stairs.
This is a compilation of all the videos I could find. Relatives and
pets grow up and disappear, and new extended family members appear
in their place.

Dec 23, Art In Words (By Donovan Pugh)

They say a picture speaks a thousand words so what if drawed
you a self portrait saying I love you. ~~~~~~~~~~~~~~~~~~~~~~~~ I
speak for all of us,

The Vatican recently allowed an article about Sant'Egidio to be printed, but ordered numerous changes to the original text. Here they are, one by one

"Sant'Egidio: profile of a Christian community." This is the
title of an article in "La Civiltà Cattolica" on the community
founded in Rome in 1968 by Andrea Riccardi, published just after
Riccardi was made a government minister. The article also expresses
glowing views on the "silent diplomacy" practiced by the Community.
And this is surprising in itself, since the drafts of "La Civiltà
Cattolica" are reviewed by the second section of the secretariat of
state, the Vatican foreign ministry, where the diplomacy of
Sant'Egidio continues to be considered more a hindrance than a help
to the institutional activity of the Holy See in the world.

USCCB official donated to organization led by Emilys List head

Mary Mencarini Campbell, who has been named director for the
Catholic Home Missions and associate director of the Office of
National Collections of the United States Conference of Catholic
Bishops (USCCB), contributed $252.40 in September 2004 to an
organization led by the president of Emilys List, according to
federal election records.

Papicolist: A New Catholic Word for You on St Thomas Becket's Day

When I was in Rome, I was standing on a street corner when
suddenly a black car rolled up. A bishop opened the back door and
Pope Benedict XVI got out. I shouted "Viva Papa!" and he waved at
me. That is my spiritual papa and I will love to death by the grace
of Christ. As the fourth commandment teaches: "Honor thy Papa" or
something like that. Viva Papa! and may St Thomas Becket pray for
us.

The Vanishing: Can Faith Fuel the Future?

To a relativist, nothing matters, not even, in the end,
himself. A person of faith though, even if he despises himself,
still wants to believe that he was loved into being, still has the
love of God to count on and live for. If he cannot forgive himself,
at least he has Gods forgiveness to hold on to. Without that, the
notion of tomorrow would be too bleak to contemplate.

Muslim extremists in Uganda throw acid in face of Protestant leader...

Islamic extremists threw acid on a church leader on Christmas
Eve shortly after a seven-day revival at his church, leaving him
with severe burns that have blinded one eye and threaten sight in
the other.

Dec 19, I don't know why

I feel the way I do. I was not abused, or bullied, or
abandoned ad no one close to me has died. But for over a year now I
have been severely depressed.

Get your shots. It's the pro-life thing to do...

There are times when reality is so obvious, so clear, so
rock-solid 100% amazingly in-your-face incontrovertible, that it is
beyond belief that anyone could deny it. And yet, antivaccination
groups exist. Let me be very, very clear: they are wrong. Vaccines
save lives. Vaccines save millions of lives. And not just directly,
like they did by wiping out smallpox, a scourge that killed
hundreds of millions of people. But also, through herd immunity,
vaccines save infants too young to be vaccinated, the elderly with
weak immune systems, and people whose immune systems are
compromised due to chemotherapy, genetic issues, or because they
are taking immunosuppressants for other illnesses (like
arthritis).

The Mystery of a Merry Christmas

The Christmas Season holds out for us the deepest personal
joy. It is a season that begins on Christmas Eve, includes the
Solemnity of the Mother of God (New Years Day), Epiphany (Little
Christmas) and runs through the Baptism of the Lord (although the
ancient observance of this Season once lasted until Candle-mass at
the beginning of February). Throughout this time, the beautiful
greeting Merry Christmas is as much of a challenge as it is a wish.
The challenge and the wish have to do with beholding God who has
manifested his glory in our flesh.

The saint who was addicted to opium...

St. Maximilian Kolbe is typically considered the patron saint
of drug addicts/against addiction and Venerable Matt Talbot is also
frequently called on to help those with addiction, but St. Mark Ji
Tianxiang might be worth praying to for help as well. Ive never
heard of him until recently. St. Mark is one of the Chinese martyrs
and, apparently, for the last 30 years of his life he was barred
from receiving the sacraments because he was an opium addict. It
doesnt sound like he was totally freed from addiction before he was
martyred, but he tried and always prayed that he would be, so Im
sure hed be a great intercessor for others who want freedom.

As Rick Santorum surges, Gingrich fades in Iowa

Rick Santorum is the latest Republican candidate for
president to gain momentum, as two other contenders, Mitt Romney
and Newt Gingrich, are either solidifying support or losing it
rapidly.

Their Noonday Demons, and Ours

By some miracle, you set aside a day to tackle that project
you cant seem to finish in the office. You close the door, boot up
your laptop, open the right file and . . . five minutes later catch
yourself thinking about dinner. By 10 a.m., youre staring at the
wall, even squinting at it between your fingertips. Is this day 50
hours long? Soon, you fall into a light, unsatisfying sleep and
awake dizzy or with a pounding headache; all your limbs feel
weighed down. At which point, most likely around noon, you commit a
fatal error: leaving the room. Ill just garden for a bit, you tell
yourself, or do a little charity work. Hmmm, I wonder if my friend
Gregory is around?

There will be no Friday this week in Samoa...

People in Samoa (population 193,000) want to be closer
time-wise to Australia, New Zealand, China and Tonga because they
do so much more day-to-day business with those relatively nearby
nations than with the rest of the world. And the problem until now,
for example, has been that when it's 8 a.m. Monday in Samoa it's 8
a.m. Tuesday in Tonga. Business people in Samoa have kind of been
losing a working day when it comes to dealing with their nearest
neighbors.

St. Thomas Becket, Sinner and Saint

Born in 1118 to parents of some means, Beckets life from the
start was of some notable difference when compared to that of the
other St. Thomas, Thomas More. Whereas Mores parents were careful
never to encourage in their son any sort of profligate tendency,
Thomas Becket became very used to the good life early. His parents,
though, died when he was twenty-one, and since he had no trade or
employment even though he was already in his twenties, his means
had been seriously diminished says Fr. Butler. This part of St.
Thomas story reminds me too much of the youth of today who, well
into their thirties in some cases, live at home for lack of
initiative in a particular avocation. Wealth can have a stultifying
effect on the will, a truth that bears itself out in the life of
St. Thomas.

Dec 19, Lonely with everyone in the room

As a child my parents maintained an abusive, volatile
codependent relationship. I was beaten relentlessly by my father
for the littelest of things and

Thursday, December 29, 2011

Dec 19, Seasonal depression? just grief and sadness?

Last year, dec 23 my father became ill and went into the
hospital. he never recovered and died in march. the day we burried
him, my wonderful mother

Dec 19, Lonely with everyone in the room

As a child my parents maintained an abusive, volatile
codependent relationship. I was beaten relentlessly by my father
for the littelest of things and

Dec 23, Art In Words (By Donovan Pugh)

They say a picture speaks a thousand words so what if drawed
you a self portrait saying I love you. ~~~~~~~~~~~~~~~~~~~~~~~~ I
speak for all of us,

Dec 19, I don't know why

I feel the way I do. I was not abused, or bullied, or
abandoned ad no one close to me has died. But for over a year now I
have been severely depressed.

Dec 19, My sister dies when I was 17 months

I was the youngest of 4. My parents were in a terrible car
accident just after I was born. My youngest sister, who was 4 at
the time became Mother. She

Sunday, December 25, 2011

The IRS Warns of Scam E-mails

The IRS does not send unsolicited e-mail to taxpayers either
about their tax accounts or requesting sensitive personal and
financial information. Nevertheless, taxpayers do receive e-mails
claiming to come from the IRS, sometimes containing a real or
made-up employee name, Continue reading

Tax-Free IRA Distributions to Charity

As you may be aware, The Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (Tax Relief Act of
2010) was extended through 2011. The provision allows
individuals who are at least 70½ by the end of the Continue
reading

Sending Your Kids to Summer Camp this Year?

As schools are coming to a close, many parents have enrolled
their children into summer camp this year. Keep in mind you may be
able to claim the dependent-care tax credit on your tax return for
the cost of the Continue reading

Still Waiting for Your Federal Refund Check?

The IRS announced today that it is holding $153.3 million in
undelivered refund checks due to erroneous mailing addresses.
Could your refund be part of this gargantuan sum waiting to be
claimed? To find out, you can click on this Continue
reading

Tax Breaks are Available For Travelers Who Mix a Bit of Pleasure with Their Business Travel

Although video conferencing has made inroads in the ranks of
business travelers, there still are many situations where its
necessary to travel away-from-home overnight for face-to-face
meetings with staff, management, or customers. Businesspeople or
professionals who must travel for work Continue reading

IRS to Scrap High-Low Simplified Per-Diem Rates for Business Travel

In a new announcement, IRS has revealed that it intends to do
away with the high-low method of substantiating away-from-home
travel expenses. Background. An employer may pay a per-diem amount
to an employee on business-travel status instead of reimbursing
actual Continue reading

Is Your Babysitter a Household Employee?

by Neha Sethia, CPA, MST Senior Accountant, Tax Services
According to the IRS, a household employee is someone you hire and
you control what and how work is done, regardless of how often or
when they work for you in Continue reading

2011 VOW to Hire Heroes Act

by Ryan Kertes, CPA The 2011 VOW to Hire Heroes Act, signed
into law on November 21, 2011, created the Returning Heroes and the
Wounded Warriors Tax Credits to reward employers for hiring from
targeted veterans groups as follows: A Continue
reading

IRS Approves IRA Division When Estate Named Beneficiary

An IRS private ruling issued July 15, 2011, permits an IRA
with an estate named as the beneficiary to be divided up into
sub-IRAs set up for the beneficiaries of the estate. Although this
division allows each beneficiary to separately Continue
reading

The Post Office May Be Shrinking, But Do Not Fret, Secure Portals Are Here

After a year testing the use of secure portals on a limited
basis, Brown, Kaplan + Liss LLP will be expanding our use of secure
portals by making them available as a primary method of exchanging
documents with clients and Continue reading

Tax Breaks are Available For Travelers Who Mix a Bit of Pleasure with Their Business Travel

Although video conferencing has made inroads in the ranks of
business travelers, there still are many situations where its
necessary to travel away-from-home overnight for face-to-face
meetings with staff, management, or customers. Businesspeople or
professionals who must travel for work Continue reading

IRS Approves IRA Division When Estate Named Beneficiary

An IRS private ruling issued July 15, 2011, permits an IRA
with an estate named as the beneficiary to be divided up into
sub-IRAs set up for the beneficiaries of the estate. Although this
division allows each beneficiary to separately Continue
reading

The Post Office May Be Shrinking, But Do Not Fret, Secure Portals Are Here

After a year testing the use of secure portals on a limited
basis, Brown, Kaplan + Liss LLP will be expanding our use of secure
portals by making them available as a primary method of exchanging
documents with clients and Continue reading

Is Your Babysitter a Household Employee?

by Neha Sethia, CPA, MST Senior Accountant, Tax Services
According to the IRS, a household employee is someone you hire and
you control what and how work is done, regardless of how often or
when they work for you in Continue reading

The IRS Warns of Scam E-mails

The IRS does not send unsolicited e-mail to taxpayers either
about their tax accounts or requesting sensitive personal and
financial information. Nevertheless, taxpayers do receive e-mails
claiming to come from the IRS, sometimes containing a real or
made-up employee name, Continue reading

Tax-Free IRA Distributions to Charity

As you may be aware, The Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (Tax Relief Act of
2010) was extended through 2011. The provision allows
individuals who are at least 70½ by the end of the Continue
reading

Sending Your Kids to Summer Camp this Year?

As schools are coming to a close, many parents have enrolled
their children into summer camp this year. Keep in mind you may be
able to claim the dependent-care tax credit on your tax return for
the cost of the Continue reading

IRS to Scrap High-Low Simplified Per-Diem Rates for Business Travel

In a new announcement, IRS has revealed that it intends to do
away with the high-low method of substantiating away-from-home
travel expenses. Background. An employer may pay a per-diem amount
to an employee on business-travel status instead of reimbursing
actual Continue reading

2011 VOW to Hire Heroes Act

by Ryan Kertes, CPA The 2011 VOW to Hire Heroes Act, signed
into law on November 21, 2011, created the Returning Heroes and the
Wounded Warriors Tax Credits to reward employers for hiring from
targeted veterans groups as follows: A Continue
reading

Still Waiting for Your Federal Refund Check?

The IRS announced today that it is holding $153.3 million in
undelivered refund checks due to erroneous mailing addresses.
Could your refund be part of this gargantuan sum waiting to be
claimed? To find out, you can click on this Continue
reading