Below please find daily updates pertaining to the latest in financial, business, and tax news:
AccountingWEB.com - NewsOscar swag bags loaded with taxable goodies
Even if you never watch Hollywood’s seemingly endless lineup of awards shows, you’re probably aware that the celebrities who appear on those programs are thanked with gift bags loaded with expensive items. Until a few years ago, the recipients assumed that, because the term gift was used, all that loot was free. Then the Internal Revenue Service stepped in to disagree.
Senate moves to protect small business from unfair penalties
Small businesses get a break in the form of an extended moratorium on penalties related to tax shelters. Since last summer the Internal Revenue Service, under pressure from Congress, has been extending the moratorium a few months at a time.
Update: Bad guys plead guilty in two separate cases
Sherry Lynn Vertoch, age 64, was arrested for posing as an agent of the Internal Revenue Service in order to gain free housing at a California hotel. Since her arrest in January, Vertoch has pleaded guilty to impersonating a federal agent and, if convicted, could spend up to three years in prison.
Guide your client to more competitive bankcard processing rates
By Mark Dunn
Accelerating cash flow during a credit crunch
By Alex Vuchnich, CPA, CFE
Deltek solutions, designed to meet the unique needs of government contractors, have compliance history dating back to 1983. Over 1,200 government contractors and nearly 70 percent of the Top 100 federal contractors successfully use Deltek software to support cost-collection, allocation, reporting and billing on government contracts. Peter Witts CPA is a Deltek Alliance Partner -- our goal is to offer the government contractor the best value in products and services. For more information, visit www.deltek.com.
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