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Got ISOs? You need to understand their tax treatment

by Melissa Rager

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you can buy shares at a price below  what they’re then trading for. ISOs must comply with many rules but receive […]

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Different Interests: Audit Committee vs. Chief Audit Executive’s

by Greg Hopkins

Every year, Grant Thornton does a survey aimed at chief audit executive (CAEs) called the Governance, Risk and Compliance Survey. In 2015, Grant Thornton expanded their survey to include audit committee and CAEs members rather than just CAEs as they have done so in prior years; approximately 545 individuals were surveyed. By including committee members, […]

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Now’s the time to begin your 2015 tax planning

by Melissa Rager

Whether you filed your 2014 income tax return by the April 15 deadline or filed for an extension, you may think that it’s a good time to take a break from thinking about taxes. But doing so could be costly. Now is actually the time you should begin your 2015 tax planning — if you […]

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In Case You Hadn’t Heard…Can Nike “Just Do It” in the World of Intellectual Property?

by Keith Hock

As a sports fan (I am very glad that baseball is back!) and an accountant, I am always interested when the sports and business worlds overlap. Registrations for sports related trademarks and the value of professional baseball teams indicate that sports are not just entertainment, they are big business. One of the giants in the […]

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Facing an unexpected bill for the additional 0.9% Medicare tax?

by Melissa Rager

The additional 0.9% Medicare tax applies to FICA wages and self-employment income exceeding $200,000 per year ($250,000 for married filing jointly and $125,000 for married filing separately). Unfortunately, the withholding rules have been tripping up some taxpayers, causing them to face an unexpected tax bill — plus interest and penalties — when they file their […]

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Accountants Would Rather Be Problem-Solving (Whatever that Means)

by Associate

Accountants are generally known for their affinity for working with numbers, but a new survey conducted by Robert Half Finance & Accounting suggests that accounting and finance professionals earn more satisfaction from solving problems. The online survey asked over 2,600 professionals a fairly simple question: “What part of working in the accounting and finance profession […]

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Northern Californians None Too Pleased about State’s April Fool’s Joke

by Judd Ballard

It’s high times in the Golden State, everything’s looking up, particularly in the Bay Area… San Francisco Giants are reigning World Series Champs, the Golden State Warriors have been the NBA team to beat, recent positive investment news out of FaceBook and Twitter, and the now the highest sales tax in the country? Ouch. Isn’t […]

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FASB Agrees to Issue Proposal to Delay Revenue Standard’s Adoption by One Year

by Ed Bannen

On April 1, 2015, the FASB agreed that a delay for the revenue recognition standard was necessary. The proposal would push back the effective dates 1 year. If you are in the accounting world, you may have heard there are big changes on the horizon for revenue recognition. However with large changes, comes confusion and […]

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Still filing a paper return? Be sure you understand the “timely mailed=timely filed” rule

by Melissa Rager

The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient. For example, let’s say you mail your return with a payment on April 15, but the envelope gets lost. […]

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FASB to Consolidate Net Assets for Not-For-Profits

by Associate

Financial statements of not-for-profit organizations are about to get a lot more useful, at least according to the Financial Accounting Standards Board (FASB). Early this month, a 5-2 vote by FASB determined that a proposed Accounting Standards Update (ASU) would be issued in an attempt to enhance the usefulness of not-for-profit financial statements. The proposed […]

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