1. Recent Articles

    1. U.S. Treasury Officials Go After Foreign Tax Credit Loophole

      U.S. Treasury Officials Go After Foreign Tax Credit Loophole

      (Bloomberg) The U.S. Treasury Department took fresh steps on Thursday to curb tax avoidance by multinational corporations, issuing new curbs on a loophole through which companies artificially use credits for foreign taxes they pay to improperly lower their U.S. tax bills. Treasury officials said they would disallow corporations from using foreign tax credits unless the companies actually bring home to the U.S.—or repatriate—the overseas earnings on which they’ve paid the foreign taxes.

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    2. Many Internal Audit Leaders Don’t Fully Use Professional Standards

      Many Internal Audit Leaders Don’t Fully Use Professional Standards

      Despite the growing attention to internal audit, a new report indicates a significant lack of conformance with and usage of professional standards. The Institute of Internal Auditors’ (IIA) International Standards for the Professional Practice of Internal Auditing represent minimum requirements expected of all internal audit functions. The standards are considered the bedrock for effective performance, and conformance with them is expected for all certified internal auditors.

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    3. Georgia Tech scores $13.5 million in federal funding to help Georgia manufacturers

      Georgia Tech will receive $13.5 million in federal funding over the next five years to continue a program that has assisted small- and mid-sized manufacturing companies in Georgia for more than half a century.

      The school reported the funding will be used by the Georgia Manufacturing Extension Partnership (GaMEP), which offers assistance in such areas as lean and process improvement, quality management, energy management, sustainability and business growth – which includes new customer development,…

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    4. Troubling Trends Seen in SOX 404 Disclosures

      Troubling Trends Seen in SOX 404 Disclosures

      Sarbanes-Oxley disclosures on management assessment of internal controls over financial reporting are indicating some worrying trends, according to a new report. The report, from the research firm Audit Analytics, found that while the number of adverse disclosures under Section 404 of the Sarbanes-Oxley Act dropped in fiscal year 2015 to 202 disclosures, compared to 228 for fiscal year 2014, the total for 2015 was nonetheless the second highest in the last seven years.

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    5. ACCA and IMA Report on Enterprise Risk Management

      ACCA and IMA Report on Enterprise Risk Management

      The Association of Chartered Certified Accountants and the Institute of Management Accountants have released a new report on how companies can deal with enterprise risk management to minimize business disruptions. The report, written by Dr. Paul L. Walker, a professor of accounting and taxation at St. John's University in New York, explains how companies can predict and respond to disruptions such as economic downturns and increased competition.

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    6. How Community Foundations Tap Wealth Advisers to Attract Donor-Advised Funds

      How Community Foundations Tap Wealth Advisers to Attract Donor-Advised Funds

      Donor-advised funds (DAFs) represent a large portion of many community foundations’ annual fundraising revenue and often a large part of their overall funds. In some cases, as much as half of a community foundation’s total assets are held in these accounts. DAFs allow donors to reap immediate tax benefits when they irrevocably contribute cash, stocks, property, or other assets into accounts that will be used for charitable purposes.

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    7. Accountant Wins Case To Deduct MBA Expenses | CPA Practice Advisor

      Accountant Wins Case To Deduct MBA Expenses | CPA Practice Advisor

      The kids aren’t the only ones getting ready to go back to school. Adults who have already started their careers may be embarking on a graduate degree or trying to brush up on the latest developments in their field. Maybe you’re thinking about furthering polishing your own skills or branching out. Is the cost of the education deductible? The odds are often stacked against it, especially if you’re pursuing an advanced degree.

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    8. Pinning Down Apple s Alleged 0.005% Tax Rate: Mission Impossible

      Pinning Down Apple s Alleged 0.005% Tax Rate: Mission Impossible

      (Bloomberg) The European Commission’s finding that Ireland must collect as much as an attention-getting 13 billion euros ($14.5 billion) in back taxes from Apple Inc. contained a second stunning number: 0.005 percent. In a news release, the commission said that figure represented the effective corporate tax rate Apple paid on its European profits in 2014. At that rate, someone who earned $1 million would pay $50 in tax.

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    9. Tax Strategy: Deferred Comp

      Tax Strategy: Deferred Comp

      In June 2016, the Internal Revenue Service issued proposed regulations under Code Sec. 409A with respect to the taxation of deferred-compensation arrangements. The IRS also issued proposed regulations under Code Sec. 457(f) with respect to deferred-compensation plans of tax-exempt entities and state and local governments. The 409A guidance provides some modification and clarification to the regulations issued in 2007, as well as some related income inclusion proposed regulations issued in 2008.

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      1. We're certainly seeing a good increase in million-dollar gifts and above as well, at least reaching last year's total but most likely the trend suggests that we will surpass last year.
        By Don Fellows
      2. The strong pace of job growth continued in November as the unemployment rate held at its lowest level since April 2008 and labor force participation ticked up.
        By Jason Furman
      3. In today's fast-paced and increasingly competitive marketplace, corporate executives and line-of-business (LoB) managers need easy access to reliable KPI data that can help them make real-time business decisions.
        By Jeffrey M. Kaplan
      4. Organizations want to have the ability to leverage server and storage and networking technology from a variety of vendors and to be able to run the applications on the best suited hardware, whether it's in their data center or in the cloud.
        By Brian Cohen
      5. Venture Atlanta continues to play a significant role in spotlighting the Southeast as an epicenter of entrepreneurial innovation and success.
        By Tino Mantella
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