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Accounting and financial news
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If you’ve put your home on the market, you need to know the tax consequences of a sale.

by Associate

Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. If you’re selling your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain — as long as you meet certain […]

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Who’s subject to the 50% limit on meal and entertainment deductions?

by Associate

In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the deduction. But which party? Last year, the IRS finalized regulations that address this question. In the employer-employee setting: If the employer reimburses the employee for […]

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One Goal. Two Months Away.

by Judd Ballard

Year No. 5 for Team GBQ.  And this is the year we’re going to break $100,000 raised in total for 5 years. Once again, another handful of new riders have joined our team, bringing some much needed young enthusiasm to the GBQ Peloton.  With two members from last year’s team having moved out of town, […]

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Bossy Ethics

by Associate

Have you ever received an unusual request from a superior in the workplace; one that had you scratching your head and pondering over whether or not this fits your job description, made you uncomfortable, or was just plain inappropriate? While of course some of the requests according to a recent article published by Accounting Today, […]

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Revenue Recognition is Getting a Face Lift

by Ed Bannen

FASB and the IASB have finally decided to agree on a major topic as part of the convergence project and it’s a BIG ONE, revenue recognition rules. Who is affected? EVERYONE, but on varying degrees. FASB Chairman Russell Golden, believes software, telecommunications and real estate companies will see the largest change on their income statements. […]

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