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CFO Outlook Dims in Q1

CFOs’ expectations for revenue, earnings, capital spending and domestic hiring declined in the first quarter and are at a nearly six-year low, according to a new survey from Deloitte. Deloitte’s quarterly CFO Signals survey found that...

Medical Tax Deduction Rising to 10% Threshold

They may not know it, but this may be the last year that some of your older clients will be able to claim a medical expense deduction. Currently, the deduction for unreimbursed medical and dental expenses is limited to the excess above 7.5...

Most Small Businesses Lack Succession Plans

There's a threat to local family businesses looming out there, and it's called succession-planning procrastination, according to a new study. A survey of 100 privately held businesses in the Philadelphia region, including South Jersey and...

How the U.S. presidential election is shaping business decisions

While the presidential election is still many months away, it is already shaping CPA executives’ view of the future, however slightly, according to survey data released Wednesday by the AICPA. About 64% say the election will factor into...

Applications from exempt organizations do not contain protected return information

Organizations claiming the IRS targeted them for their political beliefs won a victory in the Sixth Circuit when the court denied the IRS’s petition to avoid having to disclose information about other organizations that were on the...

How to Turn Post Tax Season Into Business Valuation Season

When accounting or valuation professionals position themselves as trusted advisors with the ability to offer consulting, they can leverage their knowledge of a business’s financial data to provide a useful service that extends far beyond...

Valuation: Teach Clients To Treat Their Businesses As An Investment

To grow your business valuation services, consider helping your clients learn how to treat their business like an investment. Doing so can generate repeat valuation engagements while boosting your role as a trusted advisor. Only 5 percent of...

FASB Sets Up Transition Group for Credit Loss Standard

The Financial Accounting Standards Board has named the members who will serve on a Transition Resource Group to help with implementation of its upcoming credit losses standard. The Transition Resource Group will function in some ways like the...

Regulation still reigns as top risk for 2016

Uncertain economic conditions and pervasive, damaging cyberthreats did not prevent regulation from remaining the most worrisome risk for organizations, a new survey shows. For the fourth straight year, regulatory change and heightened scrutiny...

IRS launching competition to redesign taxpayer experience

The IRS announced that it will be launching a competition aimed at “civic-minded technologists, designers, and innovative thinkers” to improve taxpayers’ experience using the IRS website, which it said is one of the most visited...