KraftCPAs is purchasing 40 percent of Axis Accounting Systems Inc. — its first acquisition in six years. Kraft exited the technology business two years ago, referring all its clients to Axis, now a $2.6-million-a-year business with 11 staffers. Axis CEO … Continued
Merger Creates Major U.S. CPA Firm Association The Global Alliance and Moore Stephens North America Inc. will merge to create one of the largest CPA firm associations. The association, to be known as Moore Stephens North America, will have a … Continued
Votes Ben Kingsley (Schindler’s List) 2759 (34.5%) Rick Moranis (Ghostbusters) 1415 (17.7%) Danny Glover (The Royal Tenenbaums) 1273 (15.9%) Other 645 (8.1%) Gene Wilder (The Producers) 599 (7.5%) Joe Pesci (Lethal Weapon 2) 417 (5.2%) Bud Cort (The Life Aquatic … Continued
Is it really a “succession” issue? Or simply a failure to plan for success? by Rick Telberg Many say there’s a succession crisis among CPA firms. Maybe so. Or maybe you could look at the problem a little differently. Maybe … Continued
Berkshire Hathaway awarded $23 million in tax case
A federal judge in Lincoln, Neb., has ordered the Internal Revenue Service to pay billionaire Warren Buffett?s investment company more than $23 million in taxes and interest for disallowing certain deductions. The ruling ended three years of litigation between Berkshire Hathaway Inc. and the IRS, stemming from two lawsuits that alleged the IRS made an ?erroneous, wrongful and illegal? interpretation of the U.S. Tax Code when it denied the deductions. The original lawsuit, filed in 2002, said the IRS wrongly assessed more than $16 million in taxes and interest against Berkshire in 1989 and 1990. A second lawsuit said the IRS wrongly assessed it nearly $7 million in 1991.
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